|Bid||154.51 x 1100|
|Ask||154.79 x 1400|
|Day's Range||154.16 - 156.93|
|52 Week Range||113.60 - 167.56|
|Beta (3Y Monthly)||1.03|
|PE Ratio (TTM)||108.05|
|Earnings Date||Jun 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||182.18|
An IPO that happened on Thursday, a filing for another one, and more than $600 million in funding tops the Bay Area's venture news heading into the holiday weekend.
Okta is not a household name Okta (NASDAQ:OKTA). It's clients are though. Over 6,100 organizations across industries, including Nordstrom, Inc. (NYSE:JWN), Slack, and Teach for America, use Okta to protect and manage the identities of their workforces and customers. Although this doesn't tie Okta stock to those companies' fortunes, it does give one a sense of its reach.From a technical perspective, investors might look to that 20-day moving average for resistance, which it bounced nicely off of early last week. Overall, OKTA stock has proved resilient. The company's YTD and 3-month returns speak volumes: 72 percent and 34 percent, respectively.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMore telling is that in the past one month, when trade war headlines have caused market turmoil, bringing the NASDAQ down almost 3 percent, OKTA stock has returned close to 15 percent. When it comes to picking winners, buying strength is a good idea in the late stage of the business cycle. * 6 Stocks to Buy for This Decade's Massive Megatrend OKTA Stock Finishes 2019 with a BangOkta's performance has been driven by real results and focused execution.Okta grew revenue grew 56 percent year-over-year. Importantly, subscription revenue grew 57% year-over-year. Recurring revenue increases indicate more stable income streams and new customers, demonstrating that their product continues to gain traction. In the fourth quarter, Okta saw a 50 growth in customers with over $100,000 annual recurring revenue. This is finishing off the fiscal year in extremely good form.Okta's investments in their early platform and the Integration Network have paid off. Increasingly, large corporate customers are going to Okta as the identity standard for both their workforce and customers. The Okta Identity Cloud is uniquely positioned to both help organizations realize their digital transformation initiatives and adopt a Zero Trust security posture.Q4 operating cash flow margin improved 860 basis points year-over-year; free cash flow margin improved 690 basis points year-over-year. Improved pricing and volume should result in continued margin increases.For the full year fiscal 2020, the company expects to grow revenues at a rate of 33 to 34 percent year-over-year. This is readily achievable and perhaps even on the conservative side. Okta Stock TAM Is UnlimitedFor the workforce, it used to be that identity was part of the stack. Currently, it is an independent and neutral platform. In the future, it will be an integrated, universal platform, and Okta is primed to be that provider.The cloud has changed everything on the customer side as well. It used to be that companies built identity management platforms themselves. Now, it has become a microservice with many providers. In the future, the trend is moving toward one standard, just like with the concept for the workforce. Here again with its hyper focus on its customer experience, the numbers prove that Okta is well-positioned to be that standard.Overall, the addressable market is huge. Enterprises and consumers covers everyone. So, that executing on that vast addressable market leaves ample growth runway for the company. Network effects are at play and should accelerate that expansion. M&A PotentialGiven OKTA's expansion and the popularity of its Active Directory, there a decent chance of OKTA stock getting acquired. I would put odds at fifty fifty that this catalyst occurs in the next few years. Something to keep in mind, at any rate.Recall that just last year Salesforce (NYSE:CRM) acquired MuleSoft, a similarly cloud-neutral company that built application networks. Its Anypoint Platform ended up becoming a part of the Salesforce Integration Cloud.At this point, Microsoft Corporation (NASDAQ:MSFT) would be a likely buyer. Both companies have similar philosophies on cloud and on-premises software, and under new management MSFT has demonstrated over the past several years that it has shifted its stance from away from an ultra proprietary attitude. As of this writing, Luce Emerson did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post What Makes OKTA Stock a Solid Bet Is both Growth and M&A Potential appeared first on InvestorPlace.
Viking Global Investors' Andreas Halvorsen (Trades, Portfolio) sold shares of the following stocks during the first quarter. Warning! GuruFocus has detected 2 Warning Sign with CRM. The investor sold out of Salesforce.com Inc. (CRM).
SAN FRANCISCO and LONDON, May 23, 2019 /PRNewswire/ -- Salesforce (CRM), the global leader in CRM, today announced the launch of new ecosystem insights on Salesforce AppExchange—the world's #1 enterprise cloud marketplace. Rapidly-changing customer expectations in the Fourth Industrial Revolution are accelerating demand for technology expertise and new innovation within Salesforce's growing ecosystem.
LONDON, May 22, 2019 /PRNewswire/ -- Salesforce (CRM), the global leader in CRM, today announced that Salesforce Ventures, the company's global corporate investment group, has launched a $125 million Europe Trailblazer Fund to continue to fuel enterprise cloud startups. Salesforce Ventures was the most active Corporate VC in Europe1 last year and has invested in companies pioneering digital payments, machine vision, artificial intelligence, blockchain and the API economy. "Europe is a clear leader in cloud technology today, and we are excited to deepen our investment in the region," said John Somorjai, EVP of Corporate Development and Salesforce Ventures.
The software behemoth’s venture arm hopes to ride this region's expected growth in the public cloud services market, following a successful $100 million commitment there four years ago.
Now it's time to check out three tech stocks that came through our screen today that growth investors might want to consider buying right now.
SAP's resilient Cloud and Software business, act as staple growth drivers. Impressive growth in S/4HANA and other Cloud initiatives has supported the company's top line.
My skepticism toward Shopify (NYSE:SHOP) looks absolutely foolish at this point. Shopify stock has been one of the most torrid stocks of 2019 and only continues to climb. SHOP stock has pulled back in recent sessions, but still has gained 93% so far this year.Source: Shopify via FlickrLike a lot of investors, I like the Shopify business; in fact, I recommended the stock several times last year. Of late, however, I've pointed to valuation, arguing most recently in April that SHOP stock, at $206, was due for a big fall.That call was wrong. Shopify stock has risen another 30% in the seven weeks since then. But I haven't been alone in seeing the stock as overvalued. On this site, Dana Blankenhorn called SHOP a bubble in March, and repeated that sentiment last week. Luke Lango called it one of the market's best growth stocks - and still argued the price was too high.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWall Street has expressed similar caution. Three different analysts downgraded Shopify stock last week. Even Barron's has noted that it and some of those analysts had heard from disgruntled readers after negative coverage of the stock.Seemingly everyone sees SHOP as a stock that has run too far, too fast. But as traders know, that alone might suggest more upside is ahead. It's not until the entire market sees a stock's upside as inevitable that the stock usually turns.Yet at the same time SHOP stock trades at seemingly unsustainable valuations. If sentiment suggests more upside, what about the fundamentals? * 7 Stocks to Buy for Over 20% Upside Potential SHOP Stock and the FutureOne way to consider the current valuation of SHOP stock is to understand what type of future the market is pricing in. Investors should discount Shopify stock by at least 10% a year, to account for its risk and volatility.At the moment, SHOP has an enterprise value (market cap less its ~$2 billion in cash) of $27.6 billion. That means investors believe the company should be worth about $44 billion Five years from now - and $71 billion in a decade.Looking solely at revenue, that seems at least potentially doable. Revenue is expected to be about $2 billion next year. The current growth profile suggests a path to a double, at least, over the next four years. Is, say 9x 2024 revenue of $4.8 billion unreasonable? Or 7x 2029 sales of $10 billion?Those revenue levels might seem unreasonable, but the $10 billion target only suggests an average growth rate of 20% from 2020 on. With opportunities for international growth, and potentially new offerings (think CRM software or marketing capabilities) that growth rate is not impossible.Nor are the revenue multiples untenable. Bear in mind that the margins on incremental revenue should be enormous. If Shopify can add $8 billion in revenue, there's no reason why it can't grow profit by $2 or even $3 billion. At a 25% tax rate, net income even at the low end of that range gets to $1.6 billion or so. Here, too, is a 45x P/E multiple that unreasonable assuming Shopify still has years of growth ahead from that point? Investors Modeling Shopify StockTo be clear, I'm not making the case for that model. Analysts aren't, either. Even before the downgrades of late, SHOP stock had outrun average Wall Street targets.But the point is that some investors might. And as long as there's a case on paper for Shopify stock, there's going to be room for upside. This is a hugely attractive business model. The addressable market is only going to expand as Shopify expands internationally and drives more revenue for medium- and large-sized businesses.Shopify could choose to challenge Salesforce.com (NYSE:CRM) in CRM software. It might be able to drive advertising revenue from customer websites (something akin to what Amazon.com (NASDAQ:AMZN) and Walmart (NYSE:WMT) are doing at the moment).Again, none of this is to say Shopify will do these things. But it's posting enormous growth, has a massive market, and is accumulating ever-more valuable customer data. And while at 14x next year's revenue and about close to 300x next year's earnings the current multiples look extreme, there's a path on paper for SHOP stock to grow into its current valuation.In a bull market, that can be enough. It's not like Square (NYSE:SQ), a potential rival, is cheap. CRM stock itself has seemed "overvalued" for years and keeps moving higher. This can work, at least in theory. Combine that with the negative sentiment, the so-called "wall of worry," and SHOP can continue to climb. How High?For what it's worth, I personally don't see any of this happening. I still believe investors are ignoring two key risks to SHOP stock. The first, as I wrote last year, is that the company retains significant exposure to small businesses that are usually the first victims of any economic downturn.The second, related, risk was highlighted by Morgan Stanley (NYSE:MS) in its downgrade last week. Over half of Shopify revenue is transaction-based. That, too, implies some exposure to economic cycles.The combination means that Shopify doesn't quite have the SaaS (software-as-a-service) model that is priced in at the moment. It's not going to drive the same amount of sticky, recurring revenue that is creating such optimism for SaaS plays. As a result, it shouldn't have the straight-line growth of a company like Salesforce.com (whose revenue growth has been almost spooky in its consistency).If that's the case, SHOP shouldn't be receiving a premium to pretty much every other SaaS stock. It should be receiving a discount. But, right now, many investors clearly disagree. And history shows they can disagree for quite a long time.In the meantime, SHOP can keep climbing the wall of worry. It's not impossible to project SHOP being a $100 billion business a decade or so from now. That in turn suggests that Shopify stock, today, should be worth around $360.I'm not saying SHOP will get there. I don't believe it should get there. But between the optimism in the chart and the pessimism everywhere else, I certainly wouldn't bet my money against it.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for Over 20% Upside Potential * 5 Large-Cap Stocks Holding Steady Amid Trade War Concerns * 7 ETFs for Healthy Healthcare REITs Compare Brokers The post If Shopify Stock Is Ever Going to Stop, It's Hard to See When appeared first on InvestorPlace.
Okta (NASDAQ:OKTA) has had an impressive run, with Okta stock trading under the radar as a cloud play, and cloud stocks are on fire. There's no other way to put it.As the global enterprise world pivots from on-premise to cloud-hosted solutions for price, convenience, and accessibility advantages, the providers of those cloud-hosted solutions are growing by leaps and bounds.InvestorPlace - Stock Market News, Stock Advice & Trading TipsConsequently, the stocks of cloud titans like Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Amazon (NASDAQ:AMZN), and ServiceNow (NYSE:NOW) have soared.Okta has gained far more than any of those headline cloud stocks over the past few years. It went public in April 2017 at $17 per share and trades today around $110.What's the story behind the huge gains from Okta stock? Cloud security. Broadly speaking, everyone and their best friend in the business world is pivoting to the cloud. That means there's a whole bunch of corporate and customer data up in the cloud. Security surrounding that data isn't all that great, hence the huge volume of hacks and data breaches over the past few years. Thus, enterprises are increasingly seeking a better cloud security solution. Okta provides just that.As such, Okta has found itself at the convergence of two secular tailwinds (cloud adoption and cybersecurity). Those two tailwinds have produced huge growth for the company. Shareholders have cheered that big growth, and Okta stock has taken off like a rocket ship.At these levels, there's no hiding the truth that Okta stock is expensive. But, is it too expensive? I don't think so. If you take a big picture outlook on the stock, this is a big growth company with a ton of upside left over the next several years.As such, I think investors who are late to the party shouldn't be too concerned. There's still plenty of long term upside left. Big Market OpportunityIn the big picture, Okta is attacking an exceptionally valuable and large market with a unique solution, and as this unique solution gains scale over the next several years, Okta's revenues and profits will continue to grow at a robust pace.Okta operates in the enterprise cloud market. This is a huge market. Global cloud spend is projected to hit $500 billion by 2020. But, only 20% of enterprise workloads have migrated to the cloud so far. Over time, that number will move towards 100% given that cloud-hosted solutions provide price, convenience, and accessibility advantages over on-premise solutions.Thus, the big cloud growth narrative is only one-fifth of way through, meaning that the enterprise cloud market is not just big, but also growing very quickly, too.Within this market, security is a big issue. Everyone is pivoting to the cloud. But, they aren't just pivoting wholesale to one cloud. Instead, the norm in the cloud market is hybrid cloud, which is essentially adopting multiple different cloud applications depending on the use case (Adobe for visual solutions, ServiceNow for automation, Salesforce for marketing, so on and so forth).Consequently, the enterprise pivot to the cloud simultaneously means a pivot of valuable corporate and customer information across various different cloud service providers.That data needs to be protected. But, protecting it isn't very easy to do. That's why we have seen so many headline data breaches and hacks over the past few years as the cloud pivot has gained momentum. Thus, consumers are increasingly seeking a uniform cloud security solution. Unique Solution Gaining ShareOkta provides this uniform cloud security solution, and does so in a unique way.Okta is creating a new cloud security solution which allows enterprises to seamlessly secure information across all cloud apps at the same time. They call this solution the Identity Cloud.Essentially, this is a cloud solution centered on individual identity that allows millions of people across a corporate ecosystem to seamlessly, securely, and uniformly connect to the technological tools that the corporation is adopting. This may sound like a complex idea. It's not. Okta is simply creating an identity-driven security solution wherein controlled identity information is the only way in and out of a system.This is a big idea. Importantly, it's a big idea that gaining traction rapidly.A few years ago, Okta had about 2,000 customers and was doing $30 million in quarterly revenue. Okta closed fiscal 2019 with 6,100 customers on a $115 million revenue quarter. Further, the company exited 2019 with 50%-plus revenue growth rate and a 40%-plus customer growth rate.In other words, not only has Okta grown very quickly over the past several years, but it is still growing very quickly today, and hardly losing any steam. As such, it is clear to see that Okta's unique Identity Cloud security solution is rapidly gaining share in the cloud security market. Big Valuation Warranted Long TermOkta stock is trading at nearly 700-times projected profits that are still two years out. Thus, this stock is richly valued. But, is it overvalued? I'd say no, if you look at the big picture.Okta has just over 6,000 customers. There are over 100 million businesses in the world, all of whom could use Okta's Identity Cloud. Further, cloud spend is at $500 billion and growing. Okta's revenues this year are projected around $535 million.Thus, in the big picture, this company is very small relative to its market opportunity. Because of this, management's long term target for 30%-plus annualized revenue growth into fiscal 2024 seems very doable. Even thereafter, this company should be able to do 20%-plus revenue growth into 2030, as more companies pivot to the cloud and cloud security demand globally grows.Under those assumptions, this could easily be a $5 billion revenue company one day, and probably by 2030. Gross margins are sky high and projected to rise north of 80% soon. Meanwhile, opex rates are big, but dropping rapidly, and could fall towards 50% at scale. That means 30% operating margins are achievable. On a $5 billion revenue base, that implies $1.5 billion in operating profits. Assuming a normal tax rate and some growth in the share count, that could flow into $8 in EPS by 2030.Application software stocks normally trade at 35-times forward earnings. Applying that average multiple to $8, a realistic 2029 price target for Okta stock is somewhere around $280. Discounted back by 10% per year, that equates to a fiscal 2020 price target of just under $120. Thus, while Okta stock is richly valued, it isn't overvalued. Yet. Bottom Line on OKTA StockOkta stock has been one of the market's biggest winners over the past two years, and with good reason. This company is in the early stages of a really powerful long term growth narrative that will produce robust profit growth over the next several years.To be sure, a lot of this upside is already priced into Okta stock. But, not all of it. As such, while gains will be more muted going forward, this stock will remain on a medium to long term uptrend for the foreseeable future.As of this writing, Luke Lango was long OKTA, CRM, ADBE, AMZN, and NOW. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for Over 20% Upside Potential * 5 Large-Cap Stocks Holding Steady Amid Trade War Concerns * 7 ETFs for Healthy Healthcare REITs Compare Brokers The post Okta Stock Is the Sleeper Cloud Play You've Been Looking For appeared first on InvestorPlace.
In the latest trading session, Salesforce.com (CRM) closed at $155.74, marking a -0.15% move from the previous day.
What companies will join the list of top software IPOs over the next several years? One analyst touts Coupa, Okta and Smartsheet as contenders. But will Zoom stock make the list?
These top information technology (IT) stocks have outperformed the rest amid a period of heightened volatility in the tech sector for 2018.
Salesforce Tower looms large in San Francisco, but across the globe the tech giant is creating mini-me versions with one common theme.
Business software company Salesforce says it aims to provide skills training to 1 million people as part of a Trump administration push to boost career opportunities among Americans. Salesforce chairman Marc Benioff at first pledged that training for 500,000 people, but then doubled the figure during a Thursday event at its downtown Indianapolis offices with President Donald Trump's daughter and senior adviser Ivanka Trump. The San Francisco-based company says its free online platform Trailhead will offer tech training over the next five years toward credentials for Salesforce administrator, developer and marketing manager positions.
Cisco (NASDAQ:CSCO) reported earnings last night and investors are loving it. It spiked 3% on the headline and as of this writing, it's up 6% from yesterday's close. Today's write up is to share an opportunity to trade Cisco stock up from here -- but with a cautionary asterisk. The bottom line is that CSCO has technical and fundamental reasons to set new highs for 2019. This earnings report confirms that management can get the job done.Source: Shutterstock Let's first start with the investing environment: it's been volatile. Monday, equity markets panicked on headlines that China had retaliated against the new U.S. tariffs and the trade talks had completely broke down.In spite of it, CSCO stock bounced and recovered the dip. It even closed +.8% going into its earnings report. This is a sign of confidence from its investors especially when the rhetoric in the media is full of skepticism. Case in point, year-to-date Cisco stock is up 26% which is 70% better than the S&P 500. In 24 months, the difference is three fold.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLast night, management delivered a report card that justified investors' confidence. CSCO beat on every metric that matters. They even guided sales above expectations. Cisco left nothing for the bears to sink their claws into. Selling this report makes no sense at this time.There were a few concern about margins but nothing that is going to last. The data suggest that the transition to cloud services and subscriptions is ongoing and according to plan. Completing this migration could fuel a longer rally to help Cisco stock set new multi-year highs or maybe even re-approach its Dotcom glory.Next, we examine the fundamentals -- and they are solid. CSCO sells at a 20 trailing P/E ratio which is cheap in absolute and relative terms. It is inline with Oracle (NYSE:ORCL) and 30% less expensive than Microsoft (NASDAQ:MSFT). This is not a knock against MSFT's valuation, however. They have completed their transformation. CSCO is making headway, but still has some time to go. And that's the opportunity for the long term.But here is the opportunity for the short term. The CSCO chart technicals suggest that the spike here is the start of another leg higher. This probably won't be a straight shot to the target. Cisco stock will hit resistance at $54.40 so what happens in the next few days is important.If I am long the stock, then I stay in it and ignore the small dips in this rally. But if I am looking to start a new bullish position then I can either buy Cisco stock here and accept that I may suffer a few red ticks before gaining. Or, I would set a trigger to buy when it Cisco stock closes above $54.50 per share. If this is a trade not an investment then I should also set a stop loss because below $51 per share would bring momentum sellers to target $48 or lower. The Bottom Line on Cisco StockSo to summarize the opportunity today: For the past two weeks, CSCO stock price range tightened into a point and this looks like a breakout from it. CSCO should have legs as long as it holds the support.While I like the macroeconomic environment, I worry a bit about the geopolitical headline risk. China and the U.S. are in full economic war as they try to come to terms. This is likely to linger for a few months, but I bet we have a reprieve from new news until mid June. * 7 Stocks to Buy that Lost 10% Last Week Investors liked hearing from the Cisco CEO Chuck Robbins that the tariffs are no longer a threat. CSCO has shifted operations to avoid the headwinds that those would create. That is the perfect example of a management team that is mature and doesn't leave many things to chance. Robbins also reiterated his commitment to increasing the percent of business to come from software and subscriptions.The experts on Wall Streets agree that there is more upside in CSCO stock. Most analysts who cover the stock have a BUY rating on it and it is still trading well below their average price target.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Stocks to Sell Before They Tank Your Portfolio * Top 7 Dow Jones Stocks of 2019 -- So Far * 5 Low-Priced, High-Potential Tech Stocks to Buy Compare Brokers The post After Earnings, $58 Is In Sight for Cisco Stock appeared first on InvestorPlace.
Despite overvaluation concerns, the U.S. technology sector has had a stellar rally in the period between 2010 and so far in 2019, also popularly known as the twenty-tens.
INDIANAPOLIS, May 16, 2019 /PRNewswire/ -- Salesforce (CRM), the global leader in CRM, today announced it is signing the White House Pledge to America's Workers and pledging to give 500,000 Americans the skills they need to earn Salesforce credentials and get top jobs in the Salesforce ecosystem over the next five years. Through Trailhead, Salesforce's free online learning platform, anyone can acquire the in-demand tech skills needed for the jobs of today and tomorrow, including Salesforce administrator, Salesforce developer, Salesforce marketing manager and more.
The company, which makes Internet-based software used by the sales and marketing departments of businesses, said it would provide online training for up to 500,000 workers to get jobs that involve Salesforce's software systems. The White House's "Pledge to America's Workers" initiative was launched last year, with more than 200 companies participating in the program. Salesforce said that Chief Executive Officer Marc Benioff planned to announce the news at an event with Ivanka Trump in Indiana, where Salesforce has nearly 2,000 employees.
David Tepper's Appaloosa LP bulked up its positions in technology companies and dropped two big financial institutions from its portfolio at the end of March, according to a regulatory filing Wednesday. Appaloosa added a million shares of Alibaba Group Holding , 165,000 shares of Amazon.com Inc. and 200,000 shares of Salesforce.com Inc. . It bolstered holdings in Facebook Inc. , Micron Technology Inc. , and PG&E while more than doubling its stake in Allergan PLC to 3.13 million shares from 1.15 million at the end of December. Appaloosa has been pressuring the drug company to split its chief executive and chairman roles as part of its effort to push Allergan to review its business strategy. Meanwhile, the hedge fund sold out of Wells Fargo & Co. , Bank of America Corp. , and NRG Energy Inc. , according to its 13F filing.
The stock market put together a decent rally on Wednesday, adding to Tuesday's gains as tech led the way higher. Bulls are hopeful that more gains are to come, while others may look at the rally as an opportunity get short or lighten up their long exposure. Let's look at some top stock trades ahead of Thursday. Top Stock Trades for Tomorrow 1: Alphabet Click to EnlargeDid investors sleep on this one too long? Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) has been a dog since its earnings report in April, but that's not what we saw on Wednesday. Shares are erupting more than 4% on the day, up about $50 apiece.The move forms a bullish engulfing candle, as shares took out Tuesday's lows before rocketing higher above the prior session's high. Now what?InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 3 of the Best ETFs to Buy for a Play on Gold Stocks Just $15 above current levels and GOOGL will hit its 20-day moving average. This moving average was prior support over the past few months, gently guiding Alphabet stock higher. We'll see if there's a "change in tone" with the stock now if this moving average acts as resistance.If GOOGL is able to clear it, it will contend with the 50-day up near $1,200, a key level in itself. Top Stock Trades for Tomorrow 2: Tesla Click to EnlargeThe capital raise gave a temporary boost to Tesla (NASDAQ:TSLA) earlier this month. However, once TSLA broke below long-term range support near $250, we're now seeing this level act as resistance. That's emphasized by the chart's purple arrow.For now, Tesla remains trapped in a long-term downward channel. It will remain in that channel until either more downside breaks it down below support or bulls can rally through channel resistance. The issue for longs? They'll now have to get through downtrend resistance and the $250-ish level to undo much of this technical damage.First things first though, they need break TSLA above channel resistance. Then we'll re-examine. Top Stock Trades for Tomorrow 3: Bank of America Click to EnlargeMany banks are trading well, but we're not seeing the same "oomph" in Bank of America (NYSE:BAC). Shares are clinging to prior range support near $28 and haven't cleared the 200-day moving average in Wednesday's session.That gives me some concern. Below $28 and the $26.50 to $27 range from March may be in play. This is where BAC bottomed during the rate-inversion scare a few months ago. If $28 holds, look to see BAC get back through the 200-day and see how it handles $29.20 to $29.50. Top Stock Trades for Tomorrow 4: Zscaler Click to EnlargeThis is a breakout we flagged earlier in the week, as we were looking for stocks that were showing notable strength amid the market's recent correction. The 20-day moving average held as support for Zscaler (NASDAQ:ZS) all week, while the 50-day and uptrend support continue to guide shares higher.Last week the stock peeked its head over the $72.50 level, but Monday's selloff cut the rally short. After a few days of consolidation, we're seeing a nice move in ZS. See that $72.50 holds as support now. Below and bulls may want to wait for a retest of support before getting long again. Aggressive bulls may consider buying a retest-and-hold of $72.50-ish, provided the overall market climate warrants it.Notice how the RSI suggests shares aren't overbought and the MACD shows that momentum is now in bulls' favor (blue circles). If not for the trade-war worries, there would be much more confidence in this stock. Top Stock Trades for Tomorrow 5: Salesforce Click to EnlargeThis one is really interesting to me, as Salesforce (NYSE:CRM) is a name I was long for quite some time. Shares have been range-bound for a few months now, bobbing between $150 and $166 since February.Earnings aren't until June 4th and even though the trade war has little to no impact on CRM, the stock just doesn't have much mojo. Last week shares rallied off range support, but were stymied by the 20-day and 50-day moving averages (with the former crossing below the latter, indicating bearish short-term momentum). Downtrend resistance (blue line) has also keep a lid on the name. * 10 Retirement Stocks That Won't Wilt in a Bear Market Over $157.50 gets me interested, while a bounce over $160 gets me excited. Otherwise, bulls may want to wait for a pullback into the $152 range. Keep in mind that if CRM can't get above downtrend resistance, a break of range support may be in the cards. That puts a test of the 200-day immediately on the table, with lower prices to come should that fail as support.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long GOOGL. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Retirement Stocks That Won't Wilt in a Bear Market * 5 Consumer Stocks Ready to Push Higher * 3 of the Best ETFs to Buy for a Play on Gold Stocks Compare Brokers The post 5 Top Stock Trades for Thursday: GOOGL, TSLA, BAC appeared first on InvestorPlace.
Bessemer Trust's Rebecca Patterson on the tech trade pain. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Mark Tepper, Dan Nathan and Guy Adami.