vHive Secures $4M in an Investment led by Deutsche Telekom to Accelerate Expansion in the Enterprise Drone Hive Software Market
NEW YORK and LONDON, Oct. 14, 2020 /PRNewswire/ —
Funding will support vHive’s rapid growth trajectory as it helps enterprises gain business insights to their field assets while streamlining costs
- vHive’s platform digitizes enterprise’s field assets using autonomous drone hives, powering their digital business transformations.
- Deutsche Telekom, one of the world’s leading integrated telecommunications companies is making a strategic investment in vHive to propel further expansion in the telecom industry.
- Enterprises benefit from accurate data analytics and insights about their field operations creating a tremendous market opportunity for vHive’s technology.
vHive, the only software solution that enables enterprises to digitize their field assets and operations using autonomous drone hives, announced today a $4 million extension to its Series A, led by Telekom Innovation Pool (TIP), Deutsche Telekom’s strategic investment fund advised by DTCP. Existing investors Octopus Ventures and StageOne Ventures participated in the funding, which will accelerate the company’s growth and expansion in the enterprise drone software market. Joel Fisch, Deutsche Telekom Vice President and TIP Co-managing Director has joined the Company’s board of directors.
Deutsche Telekom, one of the world’s leading telecommunication companies, is investing in vHive to fuel the company’s continued expansion in markets that are going through digital transformation using autonomous drone hives. These markets include telecom, construction, cranes, insurance and others. The investment will support vHive’s leadership in data analytics, computer vision and AI, and further automate recognition of items of interest. Deutsche Telekom with its global portfolio, will assist in applying vHive’s solution in the Telecom space.
“We are thrilled to have the backing of a significant industry player such as Deutsche Telekom as a testimonial to vHive’s innovation,” said Yariv Geller, CEO and co-founder of vHive. “Deutsche Telekom’s investment demonstrates their commitment to digitizing their infrastructure using the vHive platform as
Snowflake (SNOW) – Get Report Monday received positive recommendations from analysts at Deutsche Bank and Piper Sandler, who are impressed with the cloud service company’s growth prospects.
Snowflake shares recently traded at $245.51, up 3.15%, but have slipped 4% since the company’s initial public offering in September.
Deutsche Bank analyst Patrick Colville initiated coverage with a buy rating and a $305 price target.
“Data is the coal of the digital economy,” he wrote in a commentary. Production of the commodity “spurned the Industrial Revolution,” he said.
Now, “we find that capturing and analyzing data is becoming paramount to business success in the 21st century,” Colville said. “We see a world where the use of data is democratizing, many more roles and functions are becoming data consumers. … Our estimates call for data warehouse (analytical processing) spending to grow to $45.2bn in 2024, a 13% CAGR from 2019.”
Brent Bracelin of Piper Sandler began coverage of Snowflake with an overweight rating and a $264 price target.
“SNOW has built a new cloud-native software layer that has the potential to redefine and modernize the enterprise data stack,” he wrote in a commentary.
“Despite high valuation risks that could spark elevated stock volatility over the next six months,” Bracelin issued the strong rating “based on a unique cloud product and proven leadership team capable of executing on a compelling 10-year growth trajectory,” he said.
“A premium valuation is warranted for longer-term oriented investors looking out 3-5 years based on” several factors, he said.
That includes “triple-digit growth last quarter at $0.5 billion revenue scale, a proven leadership team stacked with A-plus talent and a clear path to multi-billion dollar revenue run-rate within two years.”
Penn National will nosedive 57% as weak fundamentals overshadow ‘internet meme’ rally, Deutsche Bank says
- An influx of retail-investor interest in Penn National Gaming boosted shares too far, too fast, Deutsche Bank said Thursday.
- The bank’s analysts lifted their price target for Penn National Gaming shares on Thursday to $31 from $22, implying a 57% plunge over the next 12 months.
- While Penn National’s improvements to operating costs show promise, the stock has transformed “into an internet meme of sorts” without the fundamentals to support its rally, the analysts said.
- Few states are interested in passing online gambling legislation, and the company’s total addressable market is smaller than bullish investors realize, they added.
- Watch Penn National trade live here.
Penn National Gaming shares are up more than 800% from their mid-March trough, but Deutsche Bank doesn’t think the rally will hold.
Analysts Carlo Santarelli and Steven Pizzella raised their price target to $31 from $22 on Thursday, implying shares will tumble 57% over the next 12 months from Wednesday’s close. The bank reiterated its “sell” rating for Penn National and cited improved operating costs for the target bump.
The casino and sports-betting company’s surge was fueled by retail investors who turned the stock “into an internet meme of sorts,” the team wrote in a note to clients. Penn National’s partnership with Barstool Sports garnered interest from casual investors earlier in the year, but the recent influx of inexperienced day-traders drove extraordinary momentum.
Barstool founder and day-trading streamer Dave Portnoy frequently backed the stock to his millions of online followers, further fueling the summer frenzy.
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Institutional investors quickly followed the retail crowd