Software Softening: Citi Cuts Estimates, Target on Many Stocks

Citigroup’s Brent Thill today chopped estimates and/or target prices on 11 of the 22 software companies he covers to reflect–you guessed it–the softening macro economy. Thill writes in a research note this morning that he expects negative Street revisions across the group over the next few quarters. The analyst reports that checks on current demand in the enterprise software sector “are not encouraging.” He writes “a full budget flush this year sounds less likely, and visibility is diminishing.” Thill is not that concerned about Q3 results, but he does worry about Q4 guidance–and the possibility of “a more pronounced” Q1 slowdown.

Read the rest of this post

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »