Bob Lang reported on Real Money this past week that Okta (OKTA) - Get Okta Inc. Report and Twilio (TWLO) - Get Twilio Inc. Class A Report are two technology stocks you should consider shorting, as they look bearish and may present interesting investing opportunities on the short side. Both Okta and Twilio were recently downgraded to Sell with a D+ rating by TheStreet's Quant Ratings.
ZoomInfo (ZI) - Get ZoomInfo Technologies Inc. Report has an opportunity in a $20 billion addressable market, Goldman Sachs says, initiating coverage of the stock at buy. Shares were higher after analysts initiated coverage of the company with a buy rating and $65 price target.
Here is a list of the technology stocks to watch and their performance by percentage change over the past five days at the close of trading Monday, Mar. 29:
Salesforce | Decreased -2.04%
Salesforce CRM announced that it is preparing Chief Operating Officer Bret Taylor to succeed Marc Benioff as chief executive.
Salesforce could see a boost as the technology stock was added to Goldman Sachs's Conviction List earlier in March.
TheStreet Quant Ratings rates Salesforce as a Hold with a rating score of C+.
Microsoft | Decreased -0.32%
Microsoft MSFT is reportedly in discussions to acquire Discord, which is an app used by millions of gamers and others to chat with one another in real-time, for more than $10 billion.
Cramer says that the acquisition is something that Microsoft needs, as it would fill in a big niche for them.
TheStreet Quant Ratings rates Microsoft as a Buy with a rating score of A.
Peloton Interactive | Decreased -4.13%
Peloton (PTON) - Get Peloton Interactive Inc. Report has finalized deals on three companies, having acquired Atlas Wearables, Otari and Aiqudo in late 2020. Through the acquisitions, Peloton is looking to expand its current product lineup and introduce new products.
The publication reported that in a recent regulatory filing, Peloton said it paid $78.1 million cash for the three companies.
"They have done acquisitions in an attempt to diversify, but they've had a big run. I'm moving on," Cramer said on TheStreet this past week.
TheStreet Quant Ratings rates Peloton as a Sell with a rating score of D+.
Shopify | Decreased -10.35%
In this past week's "Off The Charts" segment, Cramer checked in with colleague Larry Williams for a read on where some of your favorite retail stocks are likely headed next. Williams looked at a newcomer, Shopify (SHOP) - Get Shopify Inc. Class A Subordinate Report, noting that while this stock only has a few years of data, the seasonal pattern is already very clear.
TheStreet Quant Ratings rates Shopify as a Hold with a rating score of C.
Workday | Decreased -5.5%
TheStreet Quant Ratings rates Workday as a Hold with a rating score of C.
PayPal | Decreased -3.57%
“That stock is going out of favor right now. It can still go lower, but you have to think long term and if you do, you should own PayPal — not trade it," said Cramer during this past week's Mad Money Lightning Round.
TheStreet Quant Ratings rates PayPal as a Buy with a rating score of B+.
Square | Decreased -8.38%
TheStreet Quant Ratings rates Square as a Hold with a rating score of C.
Zoom Communications | Decreased -6.12%
Citigroup CEO Jane Fraser implemented a ban on Zoom (ZM) - Get Zoom Video Communications Inc. Report video calls on Fridays as part of a "Zoom-Free Fridays" initiative to ease the stress on employees of the financial giant, Cramer reported on Mad Money this past week.
Zoom Communications is down over 9% year-to-date as one of the top stock gainers this past year has been on a losing streak as investors turn away from high growth stocks.
TheStreet Quant Ratings rates Zoom as a Sell with a rating score of D+.
The Trade Desk | Decreased -17.31%
AcuityAds is integrating Unified ID 2.0 (UID 2.0), an open-source, interoperable identity solution in collaboration with The Trade Desk (TTD) - Get The Trade Desk Inc. Report, as well as IdentityLink in collaboration with LiveRamp.
The company topped estimates when it reported its fourth-quarter financials in mid-February. Shares of the Trade Desk are down over 5% year-to-date.
TheStreet Quant Ratings rates Trade Desk as a Buy with a rating score of B.
Salesforce and Microsoft are key holdings in Jim Cramer's Action Alerts PLUS charitable trust. Want to be alerted before Jim Cramer buys or sells any stock? Learn more from Cramer and his membership team now.