Core Viewpoint - Microsoft Corporation (NASDAQ:MSFT) is recognized as a leading software infrastructure stock by hedge funds, with recent price target adjustments reflecting ongoing confidence in its growth potential driven by AI integration [1][3]. Group 1: Analyst Ratings and Price Targets - Wells Fargo has reduced its price target for Microsoft from $700 to $665 while maintaining an Outperform rating, indicating a positive outlook despite the adjustment [1]. - Jefferies analyst Brent Thill reiterated a Buy rating with a price target of $675, emphasizing Microsoft's AI integration as a significant growth driver [3]. Group 2: AI Landscape and Market Trends - Wells Fargo's software-sector update for 2026 highlights AI as a critical focus area, suggesting that investors can find opportunities in infrastructure providers, established companies, and innovation-driven platforms [2]. - The firm anticipates variability in AI adoption trends but believes that fundamental drivers will support performance through 2026 [2]. Group 3: Company Overview - Microsoft develops and sells a diverse range of software, cloud services, devices, and business solutions, catering to both individual users and enterprise customers globally [4].

Core Insights - CrowdStrike Holdings, Inc. (CRWD) is a leading U.S. cybersecurity technology company with a market cap of $123.2 billion, specializing in cloud-native security solutions to protect enterprise IT infrastructure globally [1][2] Financial Performance - For the third quarter, CrowdStrike reported total revenue of approximately $1.23 billion, reflecting a 22% year-over-year increase, driven by strong demand for its Falcon security platform [5] - Subscription revenue increased by 21%, while Annual Recurring Revenue (ARR) rose 23% to $4.92 billion, including a record net new ARR addition of $264.6 million [5] - The company reported a GAAP net loss of $34 million due to ongoing investments, but achieved a record non-GAAP operating income of $264.6 million, with non-GAAP EPS of $0.96, exceeding expectations [5] Stock Performance - CrowdStrike's stock has decreased by 17.1% from its 52-week high of $566.90, reached on November 12, but has surged 5.5% over the past three months [3] - Over the past year, the stock has increased by 24.9%, significantly outperforming the SPDR S&P Software & Services ETF (XSW), which experienced a marginal decline [4] - Year-to-date, the stock is up 37.4%, while XSW has fallen by 7.2% [4] - The stock has mostly remained above its 200-day moving average but recently slipped below its 50-day average, indicating short-term consolidation [4]

Company Overview - F5, Inc. is a Seattle-based company that provides multi-cloud application security and delivery solutions, enhancing the performance, availability, and security of applications on Internet Protocol networks [1] - The company has a market capitalization of $15.3 billion, categorizing it as a large-cap stock with significant influence in the software infrastructure industry [2] Stock Performance - F5's stock has experienced a decline of 25.4% from its all-time high of $346 reached on October 10, and a 20.2% drop over the past three months, underperforming the Nasdaq Composite's 3.5% increase during the same period [3] - Year-to-date, F5's stock has gained only 2.7% and has decreased by 1.9% over the past 52 weeks, significantly lagging behind the Nasdaq's 19.7% surge in 2025 and 14.6% returns over the past year [4] Financial Performance - In Q4, F5 reported a year-over-year revenue increase of 8.5% to $810.1 million, surpassing expectations by 2.2%, and an adjusted EPS growth of 19.6% to $4.39, exceeding consensus estimates by 10.9% [5] - Despite these better-than-expected financial results, F5's stock price fell by 7.9% in the trading session following the Q4 results release due to disappointing full-year financial guidance for 2026 [5] Competitive Position - Compared to its peer Cloudflare, Inc., which saw an 83.4% increase year-to-date and 72.3% returns over the past 52 weeks, F5 has significantly underperformed [6] - Among 13 analysts covering F5 stock, the consensus rating is a "Hold," with a mean price target of $292.78 indicating a 13.4% upside potential from current price levels [6]

Core Insights - Akamai Technologies, Inc. (AKAM) is valued at a market cap of $12.4 billion and is a leading provider of cloud computing, cybersecurity, and content delivery network services [1] - The company is classified as a large-cap stock, highlighting its significant size and influence in the software infrastructure industry [2] Financial Performance - AKAM shares have decreased by 17.2% from their 52-week high of $103.75, but have increased by 11.8% over the past three months, outperforming the Nasdaq Composite's 4.8% rise [3] - Over the past 52 weeks, AKAM has declined by 14.1%, underperforming the Nasdaq Composite's 16.5% return, and is down 10.2% year-to-date compared to the Nasdaq's 20.1% increase [4] Strategic Developments - On December 1, Akamai announced its acquisition of Fermyon, enhancing its edge computing strategy by integrating Fermyon's WebAssembly capabilities with Akamai's global platform [5] - Despite the strategic acquisition, AKAM shares fell by 2% following the announcement [5] Competitive Landscape - Akamai has significantly underperformed its competitor, Cloudflare, Inc. (NET), which has seen a 76.2% increase over the past 52 weeks and an 88% rise year-to-date [6]

Core Viewpoint - VeriSign, Inc. is a critical infrastructure provider in the internet domain name registry sector, with a market cap of $22.5 billion, emphasizing its importance in global internet stability [1]. Company Overview - VeriSign operates and protects the authoritative domain name registries for .com and .net, generating highly recurring, high-margin revenue through domain registration and renewal fees [2]. - The company benefits from long-term agreements with ICANN, which supports its predictable cash flow and limited competitive exposure [2]. - Ongoing investments in cybersecurity and DNS resilience are key components of its business model [2]. Stock Performance - Despite being resilient, VRSN shares have decreased by 21.4% from their 52-week high of $310.60, reached on July 28, and have dropped 15.6% over the past three months [3]. - Year to date, VRSN stock is up 17.9%, and over the past 52 weeks, it has gained 22%, outperforming the SPDR S&P Software & Services ETF's (XSW) 3.6% YTD rise and its 2.3% decline over the same period [4]. Financial Performance - In the third quarter, VeriSign reported a revenue growth of 7.3% year-over-year, totaling $419.1 million, slightly above the analysts' estimate of $416.8 million [5]. - The company registered 171.9 million .com and .net domain registrations, with a net addition of 1.45 million names during the quarter [5]. - Earnings per share (EPS) reached $2.27, a 9.7% increase from the previous year, surpassing the forecast of $2.24 [5]. - Deferred revenue increased by $80 million year-over-year, reaching $1.38 billion, indicating strong demand and renewal momentum [5].

Core Insights - Corpay, Inc. (CPAY) is a payments company that specializes in managing vehicle-related expenses, lodging expenses, and corporate payments, with a market cap of $21 billion [1] - CPAY is classified as a large-cap stock, reflecting its substantial size and influence in the software infrastructure industry, driven by digital payment innovations and a diversified product offering [2] Financial Performance - CPAY's stock has experienced a decline of 22.3% from its 52-week high of $400.81, reached on February 6, while it rose 2.2% over the past three months, underperforming the Technology Select Sector SPDR Fund's (XLK) 10.1% gains [3] - Over a six-month period, CPAY shares fell 11.1%, and over the past 52 weeks, they dipped 12.8%, underperforming XLK's gains of 23.5% and 26.1%, respectively [4] - In Q3, CPAY reported an adjusted EPS of $5.70, exceeding Wall Street's expectations of $5.63, with revenue of $1.2 billion meeting forecasts [5] Market Position - CPAY's competitive edge is strengthened by its ability to integrate products with various accounting and ERP systems, enhancing its market leadership in corporate payments [2] - The stock has been trading below its 200-day moving average since early April, indicating a bearish trend, but has remained above its 50-day moving average since late November [4] Future Outlook - The company anticipates full-year adjusted EPS in the range of $21.14 to $21.34 and expects revenue between $4.51 billion and $4.53 billion [5]

Company Overview - Palantir Technologies Inc. (PLTR) has a market cap of $426 billion and specializes in developing advanced software platforms for government and commercial clients, playing a key role in counterterrorism and intelligence operations globally [1] - PLTR is classified as a "mega-cap stock" due to its market cap exceeding $200 billion, highlighting its size and influence in the software infrastructure industry [2] Stock Performance - PLTR recorded a 52-week high of $190 on August 12 and is currently trading 5.7% below this peak, with a stock surge of 25.4% over the past three months, outperforming the Technology Select Sector SPDR Fund's (XLK) 11.5% returns [3] - Over the past year, PLTR shares have skyrocketed 382.5%, significantly surpassing XLK's 24% gain, and have climbed 136.8% year-to-date in 2025 compared to XLK's 19.6% rise [4] Technical Analysis - The stock has maintained a position above its 200-day moving average for the entire past year and has traded mostly above its 50-day moving average since late April, indicating a strong and sustained uptrend [5] Recent Developments - On September 23, shares of Palantir Technologies rose over 1% after the U.S. Treasury Department awarded the company a contract focused on strengthening data integrity and enhancing technical infrastructure, reinforcing its role as a trusted government technology partner [6] Competitive Landscape - In comparison, rival Microsoft Corporation (MSFT) has seen its shares rise 20.3% year-to-date and 17.3% over the past 52 weeks, indicating that PLTR is outperforming its competitor [7] Analyst Sentiment - Despite the strong momentum, analysts remain skeptical, with a consensus rating of "Hold" among the 21 analysts covering PLTR stock, although it currently trades above its mean price target of $157.72 [7]

Core Insights - Akamai Technologies, Inc. (AKAM) is valued at a market cap of $10.9 billion and is a leading provider of cloud computing, cybersecurity, and content delivery network services [1] - The company is classified as a large-cap stock, highlighting its size and influence in the software infrastructure industry [2] Financial Performance - For fiscal Q2 2025, Akamai reported a revenue increase of 7% year-over-year to $1.04 billion, with non-GAAP EPS at $1.73, exceeding analyst expectations [5] - The company provided Q3 revenue guidance of $1.035–$1.050 billion and projected full-year non-GAAP EPS of $6.60–$6.80, indicating strong demand in security and cloud services [5] Stock Performance - Akamai's shares have declined 28.2% from their 52-week high of $106.80, and are down 19.8% year-to-date, underperforming the S&P 500 Index, which has returned 17.4% over the same period [3][4] - The stock has been trading below its 200-day moving average since late February and below its 50-day moving average since late July, confirming a bearish trend [4] Competitive Landscape - Akamai has significantly underperformed compared to its rival, Cloudflare, Inc. (NET), which has surged 176.9% over the past 52 weeks and 112% year-to-date [6]

Core Insights - VeriSign, Inc. (VRSN) is a leading provider of domain name registry services and internet infrastructure, with a market capitalization of $26.7 billion, emphasizing its significant role in internet navigation and security [1][2] Company Overview - VRSN is categorized as a large-cap stock, managing .com and .net domains, and operates two root servers, reinforcing its dominance in the domain name registry market [2] - The company plays a crucial role in maintaining the security, stability, and resiliency of key internet infrastructure [1] Stock Performance - VRSN shares have experienced an 8% decline from their 52-week high of $310.60, reached on July 28, while the stock has gained 1.7% over the past three months, underperforming the Technology Select Sector SPDR Fund's (XLK) 14.3% gains [3] - Year-to-date, VRSN shares have risen by 38.1% and increased by 59.5% over the past 52 weeks, outperforming XLK's YTD gains of 18.8% and 27.1% returns [4] Financial Performance - In Q2, VRSN reported revenue of $409.9 million, reflecting a year-over-year increase of 5.9%, and an EPS of $2.21, which is a 10% increase from the previous year [5] - Competitor GoDaddy Inc. (GDDY) has underperformed VRSN, with a YTD decline of 25.8% and a 5.1% drop over the past 52 weeks [5] Analyst Sentiment - Wall Street analysts maintain a bullish outlook on VRSN, with a consensus "Strong Buy" rating and a mean price target of $338.50, indicating a potential upside of 18.4% from current levels [6]

Investment Focus - Notable Capital focuses on founders, providing them with unique experiences and support to build successful companies [2] - The firm is overweight and focused on software infrastructure and cloud infrastructure [4] - AI is central to almost every investment Notable Capital is making [9] - Notable Capital is focused on helping entrepreneurs build global technology companies, particularly in the US market [10] AI and Agent Technology - Agents are impacting companies of all sizes across industries, assisting with software development, sales, customer support, security, HR, and finance [4][5] - Agents require infrastructure for security and monitoring, creating opportunities for companies focused in this area [6][7] - Agents are taking entry-level jobs, but the opportunity lies in embracing AI and becoming proficient users of such technologies [12] Global Strategy - While Silicon Valley is a hub for innovation, Notable Capital is working with founders in Israel, Europe, and Latin America to build global companies [9] - Building a global technology company often starts in the US, with companies focusing on the US market for go-to-market strategies [10] - The next wave of innovative AI companies will be global in nature [13]