Salesforce (CRM, $81.35) reports fiscal Q4 (Jan.) revenue rose 27% to $2.29 billion, slightly above the consensus estimate of $2.28 billion. EPS of 28 cents topped the consensus by three cents.

Deferred revenue rose 29% to $5.54 billion, while unbilled deferred gained 27% to roughly $9 billion.

For FQ1 (April), Salesforce expects revenue of $2.34 billion to $2.35 billion (growth of 22% to 23%), vs. the consensus of $2.37 billion.

Citi downgrades Workday (WDAY, $90.19) to ‘Sell’ with a price target of $77 (raised from $73) based on valuation, saying the stock is “priced to perfection.”

Evercore ISI downgrades to ‘Hold’ based on what it sees as a balanced risk/reward for the stock at current levels.

Goldman Sachs reiterates its NVIDIA (NVDA, $101.46) price target of $130 and thinks the recent pullback is an opportunity to initiate or add to positions. 

The firm believes NVIDIA’s multi-year secular growth story in gaming, datacenter and automative remains intact.

After running up as much as 25% from the January 23 low of $52.89, Splunk (SPLK, $62.80) shares today gave back some, falling 3.2% on heavy volume. The stock did manage to rebound from the intraday low of $61.01.

The 200-day moving average is trending upward from $58.07.

In a tough session so far for the overall market, shares of Workday (WDAY, $89.17) are showing relative strength, testing resistance at $89.45. This morning’s high is $89.76. The RSI stands at 69.9.

The 50-day moving average is on the rise from $78.79 and approaching the 200-day moving average of $81.09 for a potential upside crossover.

Mizuho remains bullish on NVIDIA (NVDA, $100.49), reiterating its price target of $130. The firm believes gaming and Deep Learning will continue to be long-term sustainable trends for the company. 

While acknowledging that there is some worry about gaming slowing down, Mizuho believes it would be premature to write off the current cycle on one quarter of seasonal softness, pointing out promising new titles to be launched this summer.

BMO Capital downgrades NVIDIA (NVDA, $110.76) to ‘Underperform’ and reduces its price target to $85 from $110. 

The firm believes the “perfect storm” of fundamentals that drove the recent earnings surge is ebbing, pointing out reduced demand in gaming (after a surge due to a technology transition) and increasing competition in the datacenter segment (from rivals AMD and Intel). 

In the near-medium term, BMO Capital sees limited volume for NVIDIA’s ADAS products, the expected next leg of the company’s growth story.

Proofpoint (PFPT, $83.56) shares this month have traded in a fairly narrow range. Today, the stock moved to the high end of that range, testing short-term resistance at $84.23. The all-time high of $88 was reached in November.

The 50-day moving average is trending upward from $77.52.

KeyBanc has increased confidence that Arista Networks (ANET, $117.56) can reach $4 in EPS this year. The firm ups its price target to $121 from $100.

Cowen goes to $123 from $86, citing Arista’s solid competitive repositioning and the strength of the datacenter switching upgrade cycle.

OpCo lifts its target to $120 from $115, saying the company’s products continue to see strong market adoption, while Stifel goes to $125 from $102 based on positive Q1 guidance.

In Q4, T. Rowe Price was the #1 buyer of Splunk (SPLK, $63.98), boosting its position by 142% via the purchase of 7.48 million shares. 

The money manager now owns 12.73 million SPLK shares and is the #1 holder.

Deutsche Bank raises its Arista Networks (ANET, $118.93) price target to $120 from $105 after last night’s strong Q4 results. The firm is bullish on the 100G product cycle.

Arista shares this morning up are more than 18%. Earlier, a new all-time high was reached at $119.39.

Shares of NVIDIA (NVDA, $105.44) are losing upside momentum (RSI falling from 42.5) and have dipped below the 50-day moving average of $106.19. There’s short-term support just over the $99 level.

NVIDIA hit an all-time high of $120.92 on February 7.

Calling Arista Networks (ANET, $100.17) “the best secular growth opportunity” in IT hardware & networking, Credit Suisse lifts its price target to $125 from $110. 

The firm believes Arista’s technology advantage is allowing it to successfully disrupt chief rival Cisco Systems (CSCO) in the cloud networking space.

Arista Networks (ANET, $100.17), a provider of cloud networking solutions, reports Q4 EPS of $1.04, 22 cents above the consensus estimate of 82 cents, on revenue of $328 million (+34% y/y/), topping the consensus of $315.2 million.

For Q1, the company’s revenue guidance range of $320 million to $330 million is considerably above the consensus of $304.8 million.

Snap (SNAP) set its IPO price range at $14 to $16 a share. At the high end, the valuation would be about $22.2 billion.

For more on Snap, see the February 2017 issue of Tech-Stock Prospector.

Salesforce (CRM, $81.89) shares are trying to get through short-term resistance just over the $82 level. There’s additional resistance around $83.10 from July. 

The 50-day moving average is advancing from $74.66, on a path to cross over the 200-day moving average at $76.58.

Apple (AAPL, $135.01) shares today hit a new all-time high at $135.09.

Apple is a long-term holding in the Tech-Stock Prospector Vulture Portfolio, added at $61.68 in May 2013.

Shares of Atlassian (TEAM, $28.88) are sitting just below resistance at $29.40 from November after recovering from the December low of $23.80. The RSI is strong at 72.8. 

The 200-day moving average has a slight upward bias from $27.07, while the 50-day moving average—now at $26.29—has turned upward.

Stifel starts CyberArk Software (CYBR, $52.87) at ‘Buy’ with a price target of $62, calling the company the clear leader in the emerging market for privileged account security, a subsegment of the broader identity & access management (IAM) market.

The firm says CyberArk is unique among security vendors because its solutions—unlike those that concentrate on threat prevention and mitigation—are focused on limiting the capacity for bad human actors (internal employees or external) to gain control of mission-critical resources.

Stifel sees CyberArk as a key enabler of the push toward IT security becoming more of a “least privilege/zero-trust” type of model.

Apple (AAPL, $133.29) shares today had a record high closing price, taking out the previous record of $133 from February 23, 2015. A new 52-week high was set at $133.82. 

The all-time high remains at $134.54 from April 2015.

Apple is a long-term holding in the Tech-Stock Prospector Vulture Portfolio, added at $61.68 in May 2013.

Goldman Sachs raises its Apple (AAPL, $132.12) price target to $150 from $133 based on increased confidence about its outlook for the upcoming iPhone 8 demand cycle later this year. 

The firm believes the inclusion of 3D sensing functionality is increasingly likely in the next iPhone. The technology would enable augmented reality (AR), representing a “significant step-up in innovation” for the 10-year anniversary smartphone, says Goldman.

Shares of ServiceNow (NOW, $92.48) have returned to the high end of their recent range following a dip to the $88 level at the end of January. 

The RSI is up to 72.5. After an extended period of sideways action, the 50-day moving average (at $82.26) is trending upward once again. 

There’s short-term resistance at $92.98 (the all-time high was reached on January 26). Today’s intraday high was $92.82.

Zendesk (ZEN, $28.32) today finished with a gain of 15.4% on heavy volume of 6.1 million shares, 5x average daily volume. The intraday high was $29.53. 

The provider of a cloud-based customer service platform last night issued bullish 2017 revenue guidance.

So far in 2017, Zendesk shares have advanced 33.5%. Zendesk is a holding in the Tech-Stock Prospector Small-Cap Portfolio.

Palo Alto Networks (PANW, $155.18) shares continue to show solid upside momentum, with the RSI at 75.4. The stock is working to close the gap on the price chart at $158.32 from November.

The 50-day moving average has turned upward from $135.59, while the 200-day moving average is trading sideways from $139.38.

Zendesk (ZEN, $24.53) reports Q4 revenue growth of 41% and offers an optimistic outlook for 2017. 

In Q4, the top line came in at $88.6 million, above the consensus estimate of $87.3 million.

The company’s revenue guidance range for the year of $415 million to $425 million (growth of 35% at the midpoint) is above the consensus estimate of $410.3 million.

Akamai Technologies (AKAM, $71.12) reports Q4 EPS of 72 cents, four cents above the consensus estimate, on revenue of $616 million (+6% y/y), beating the consensus of $604.8 million. 

Excluding the six Internet Platform customers (representing less than 10% of total revenue, vs. 16% in the year-ago period), Q4 revenue rose 14%.

Akamai’s Performance & Security unit (59% of total revenue) saw Q4 growth of 17%, with the Cloud Security segment expanding 41% to $102 million. The cloud security business is now on an annual revenue run rate of $400 million+.

For Q1, Akamai sees EPS of 66 cents to 69 cents (the consensus is 67 cents) on revenue of $596 million to $610 million, vs. the consensus of $602.9 million.

After declining 20% from the November high of $56.25 to the December 22 low of $44.77, CyberArk Software (CYBR, $54.07) shares have rebounded nearly 21%. The 200-day moving average is trending upward from $49.32.

CyberArk reports Q4 results on Thursday.

Shares of chipmaker Marvell Technology (MRVL, $15.72) today gained 2.1% on heavy volume and hit a new 52-week high at $15.76. So far this year, the stock is up 13.3%. 

The next key upside level to watch is resistance at $16.78 from February 2015.

Facebook (FB, $133.45) shares this morning traded to a new all-time high at $134.73.

Facebook is a holding in the Tech-Stock Prospector Vulture Portfolio, added in March 2014 at $59.35.

Stifel raises its Facebook (FB, $133.23) price target to $165 from $155 following a Q4 revenue & EPS beat. The firm says Facebook’s ad business maintained its impressive momentum, growing 53% despite a difficult comp. 

Stifel expects continued growth in the core business along with ramping contributions from video ads, Instagram and messaging (Messenger & WhatsApp) to fuel above-market ad revenue growth for the next several years.

Apple (AAPL, $128.79) shares today closed up more than 6% on heavy volume. A new 52-week high was reached at $130.49.

Apple is a long-term holding in the Tech-Stock Prospector Vulture Portfolio, added in May 2013 at $61.68.