Oppenheimer Initiates a Hold Rating on Mulesoft Inc

By Jason Carr

Mulesoft Inc (NYSE: MULE) received a Hold rating from Oppenheimer analyst Ittai Kidron today. The company’s shares opened today at $26.34.

Kidron commented:

“We’re initiating coverage of MuleSoft with a Perform rating. MuleSoft’s a leading provider of application integration solutions used by enterprises to undergo digitization and incorporate cloud-based architectures. Its Anypoint Platform seamlessly connects complex and disparate IT systems and applications (on-premise and cloud-based) into a unified, scalable, and easy to manage environment. MuleSoft’s comprehensive feature set enables it to displace legacy vendors and target a large TAM of +$4B. LT, we believe MuleSoft’s TAM could expand significantly into complementary areas such as application platform software, security and analytics, leaving us confident in its growth outlook (37.4% 2016-19 CAGR). What tempers our enthusiasm is valuation.”

According to TipRanks.com, Kidron is a 4-star analyst with an average return of 3.0% and a 52.4% success rate. Kidron covers the Technology sector, focusing on stocks such as Brocade Communication Systems Inc, Hewlett Packard Enterprise, and Advanced Micro Devices.

Mulesoft Inc has an analyst consensus of Moderate Buy, with a price target consensus of $26.67.

The company has a one year high of $29 and a one year low of $21.17. Currently, Mulesoft Inc has an average volume of 1.01M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MuleSoft, Inc. provides open source infrastructure and integration software. It designs and develops an integration platform for connecting applications, data sources, and devices in the cloud or on-premises. The firm offers Anypoint Platform, an integration platform for Software-as-a-Service, service-oriented architecture, and application programming interfaces. The company was founded by Ross Mason in 2006 and is headquartered in San Francisco, CA.