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We've Got Updates on Three Stocks

Let's look at ratings and news on several holdings and bullpen names.
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We've got several updates on stocks and portfolio holdings, so here goes:

  • SoFi Technologies : Analyst Dan Dolev of Mizuho Securities, who is rated one-star by TripRanks, reiterated his "Buy" rating on portfolio holding SoFi Technologies this week, as well as his $9 target price. The portfolio rates SOFI as a "Two" with a $10 target price.

  • Planet Labs : Planet's wholly owned subsidiary, Planet Labs Federal, Inc., has been awarded a contract by the National Reconnaissance Office (NRO) for the agency's Strategic Commercial Enhancements (SCE) "Broad Agency Announcement" (BAA) program. The focus of this contract will be in the Commercial Hyperspectral Capabilities area. The contract allows Planet Labs, which is a bullpen member here, to work directly with the NRO in a multi-phased way to explore how the firm's hyperspectral capabilities align with the agency's ideas on our national space architecture. The plan from the firm's perspective is to demonstrate how data generated by the Tanager platform might be integrated into other already existing operations.

  • 8x8 : Former portfolio holding, and current bullpen member, 8x8 Inc., which is a leading integrated cloud communications platform provider, has been named Computig's DevOps Excellence Awards 2023 winner for Best Automation Project. This award recognizes the firm's DevOps team for its innovative application of MicroFrontEnds Registry techniques that demonstrate the best overall impact on business and performance. These awards are considered quite prestigious, primarily in the U.K. Recently 8X8 was also recognized as a 2022 CRN Tech Innovator Award winner for it's Conversation IQ product and also as a "Strong Performer" in the Gartner Peer Insights report. The MFE Registry strategy can be applied to reinvigorate traditional workflows that were previously impervious to rapid deployment. This allows central management to target customers and users without the overhead of distributing and using hundreds of discrete servers.

    At a last sale of $3.90, EGHT is down 19% from where the portfolio exited the name (up 15%). The portfolio would be closer to reentering this name at this time if not for the Fed's stance on interest rate policy on Wednesday. I think we continue to watch this name. There will be a small pop today. That said, the portfolio may get a chance to reenter this name closer to $3 than to $4.

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