Today’s TLV Strategist is sponsored by Axis Tel Aviv’s Global Deal Making conference, slated for Feb. 14, 2023 at the Peres Center in Tel Aviv-Yafo . Celebrating 10 years of bringing together investors and Israeli startups, this year’s program focuses on Smart Mobility & Cities, Retail Tech, Web3 & Metaverse, and, Climate & Energy. Readers can get a 15% discount on registration by using the code “TLVStrategist” when you register on Eventbrite.
What’s Here:
The Week That Was: EIS, ISRA, ITEQ, IZRL
Analyst Actions: CYBR, PAYO, S, VRNS, WIX
Bloggers Weight In: ARBE, FIVR, INMD, LCTX
In the News: AMEX (Nipendo), CGNT, NWMD
The Week That Was
Ark Israel Innovative Technology ETF (BATS:IZRL) up 3.6% last week
VanEck Israel ETF (NYSEARCA:ISRA) up 3%
Ishares MSCI Israel ETF (NYSEARCA:EIS) up 2.7%
BlueStar Israel Technology ETF (NYSEARCA:ITEQ) up 2.2%
ILS strengthened 0.1%
Analysts Do What Analysts Do
CyberArk Software (NASDAQ:CYBR) - target cut to $162 from $164 at Morgan Stanley, no change in overweight rating. Barclays cuts target to $150 from $168, no change in overweight rating.
Payoneer Global (NASDAQ:PAYO) - Wolfe Research initiated at outperform with $7 target.
SentinelOne (NYSE:S) - target cut to $16 from $30 at Morgan Stanley, downgrades to equalweight from overweight. Downgraded to neutral from buy at BofA Securities, with target cut to $16 from $28.
Varonis Systems (NASDAQ:VRNS) - target raised to $26 from $22 at Barclays, maintains equalweight rating.
Wix.Com (NASDAQ:WIX) - target raised to $100 from $80, upgrades to outperform from sector perform.
Bloggers Weigh In
Arbe Robotics (NASDAQ:ARBE) is considered a cheap play on autonomous cars, by blogger Malak Investment Ideas on Seeking Alpha. Highlighted in the coverage are the Tel Aviv firm’s recent Tier 1 OEM agreements. Separately, look for analyst updates following recent CES meetings.
Fiverr International (NYSE:FIVR) cost reductions are the focus of Leo Imasuen’s write-up on SA. He notes that key to shareholder value will be how successful the Tel Aviv gig platform can be in increasing spend per buyer and generating cash.
InMode (NASDAQ:INMD) got a “All In” buy alert from Justin Pope on The Motley Fool. In his comparison of Yokne'am Illit cosmetic surgical device maker with Crispr Therapeutics (NASDAQ:CRSP), INMD is “the safer bet; it's a proven business with steady growth and substantial profits,” he writes.
Lineage Cell Therapeutics (NYSEAMERICAN:LCTX, TLV:LCTX) has found a fan in blogger Don Steiger, writing on Seeking Alpha. However, he suggests investors wait for more clarity around the financial terms and the IP included in the vision-therapeutics maker’s agreement with Hoffman-La Roche, for the sale of the rights to OpRegen (renamed RG6501) — a retinal pigment epithelial cell therapy — in late 2021. Large-scale clinical trials commenced last month. (Also see LCTX CEO interview here.)
Cognyte provided Myanmar spyware before February 2021 coup d'état, document shows
Cognyte Software(NASDAQ:CGNT) was awarded a contract from a Myanmar state-backed telecommunications company, MPT, to sell intercept spyware ahead of the country’s February 2021 military coup, Reuters reported, citing a document.
The contract was signed even though Cognyte said it was no longer providing defense technology to Myanmar following a 2017 ruling by Israel's Supreme Court, the report said.
The spyware provided by Cognyte could allow authorities to monitor calls, text messages, and web traffic well as to track the locations of users, according to the report.
NewMed goes ahead with Capricorn merger deal
Delek Group’s NewMed Energy LP (OTCMKTS:DKDRF, TLV:NWMD) is working to finalize a previously announced merger with UK-based Capricorn Energy (LON:CNE), NewMed said in a press release.
NewMed said the parties are working to obtain the required approvals.
Some Capricorn investors including third-biggest shareholder Palliser are against the deal. Capricorn shareholders will vote to approve the deal on Feb. 1.
NewMed said it seeks to get its shareholders to approve the merger this quarter.
American Express buys Israeli B2B payments automation startup Nipendo
American Express (NYSE:AMEX) is buying Israeli B2B payments automation company Nipendo for an undisclosed sum, AMEX said in a press release.
Nipendo employs around 100 people and raised USD 12 million since 2008, Calcalistech reported.
is sponsored by Axis Tel Aviv’s Global Deal Making conference, slated for Feb. 14, 2023 at the Peres Center in Tel Aviv-Yafo . Celebrating 10 years of bringing together investors and Israeli startups, this year’s program focuses on Smart Mobility & Cities, Retail Tech, Web3 & Metaverse, and, Climate & Energy. Readers can get a XX% discount on registration by using the code “TLVStrategist” when you register on Eventbrite.
In today’s TLV Strategist
Analyst actions: CYBR, PAYO, S, VRNS, WIX
Bloggers weigh in: ARBE, FIVR, INMD, LCTX
In the news: Report of Cognyte Myanmar spyware sale; NewMed-Capricorn deal moves ahead; Amex buys into Israel payments fintech Nipendo
Analysts Do What Analysts Do
CyberArk Software (NASDAQ:CYBR) - target cut to $162 from $164 at Morgan Stanley, no change in overweight rating. Barclays cuts target to $150 from $168, no change in overweight rating.
Payoneer Global (NASDAQ:PAYO) - Wolfe Research initiated at outperform with $7 target.
SentinelOne (NYSE:S) - target cut to $16 from $30 at Morgan Stanley, downgrades to equalweight from overweight. Downgraded to neutral from buy at BofA Securities, with target cut to $16 from $28.
Varonis Systems (NASDAQ:VRNS) - target raised to $26 from $22 at Barclays, maintains equalweight rating.
Wix.Com (NASDAQ:WIX) - target raised to $100 from $80, upgrades to outperform from sector perform.
Bloggers Weigh In
Arbe Robotics (NASDAQ:ARBE) is considered a cheap play on autonomous cars, by blogger Malak Investment Ideas on Seeking Alpha. Highlighted in the coverage are the Tel Aviv firm’s recent Tier 1 OEM agreements. Separately, look for analyst updates following recent CES meetings.
Fiverr International (NYSE:FIVR) cost reductions are the focus of Leo Imasuen’s write-up on SA. He notes that key to shareholder value will be how successful the Tel Aviv gig platform can be in increasing spend per buyer and generating cash.
InMode (NASDAQ:INMD) got a “All In” buy alert from Justin Pope on The Motley Fool. In his comparison of Yokne'am Illit cosmetic surgical device maker with Crispr Therapeutics (NASDAQ:CRSP), INMD is “the safer bet; it's a proven business with steady growth and substantial profits,” he writes.
Lineage Cell Therapeutics (NYSEAMERICAN:LCTX, TLV:LCTX) has found a fan in blogger Don Steiger, writing on Seeking Alpha. However, he suggests investors wait for more clarity around the financial terms and the IP included in the vision-therapeutics maker’s agreement with Hoffman-La Roche, for the sale of the rights to OpRegen (renamed RG6501) — a retinal pigment epithelial cell therapy — in late 2021. Large-scale clinical trials commenced last month. (Also see LCTX CEO interview here.)
Cognyte provided Myanmar spyware before February 2021 coup d'état, document shows
Cognyte Software(NASDAQ:CGNT) was awarded a contract from a Myanmar state-backed telecommunications company, MPT, to sell intercept spyware ahead of the country’s February 2021 military coup, Reuters reported, citing a document.
The contract was signed even though Cognyte said it was no longer providing defense technology to Myanmar following a 2017 ruling by Israel's Supreme Court, the report said.
The spyware provided by Cognyte could allow authorities to monitor calls, text messages, and web traffic well as to track the locations of users, according to the report.
NewMed goes ahead with Capricorn merger deal
Delek Group’s NewMed Energy LP (OTCMKTS:DKDRF, TLV:NWMD) is working to finalize a previously announced merger with UK-based Capricorn Energy (LON:CNE), NewMed said in a press release.
NewMed said the parties are working to obtain the required approvals.
Some Capricorn investors including third-biggest shareholder Palliser are against the deal. Capricorn shareholders will vote to approve the deal on Feb. 1.
NewMed said it seeks to get its shareholders to approve the merger this quarter.
American Express buys Israeli B2B payments automation co Nipendo
American Express (NYSE:AMEX) is buying Israeli B2B payments automation company Nipendo for an undisclosed sum, AMEX said in a press release.
Nipendo employs around 100 people and raised USD 12 million since 2008, Calcalistech reported.