Technology Research Analysts
In-depth analysis of the technology market.
Comprehensive investigation, research and thought are used by our analysts to create the best information and options for our clients.
Vertical Software & FinTech
Josh Beck is a Director, Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in the payments & FinTech sectors. Josh is focused on deeply exploring the impact of technology forces like mobility, software, ecommerce, data analytics and security upon the payments & FinTech ecosystem.
Josh joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 2011, he worked on M&A and J.V. transactions within the wireless and mobile payment ecosystem at T-Mobile USA and Deutsche Telekom.
Josh holds an M.B.A. from Carnegie Mellon University’s Tepper School of Business and a B.S. in engineering from Virginia Tech.
In 2018, Josh was recognized by Thomson Reuters as the #1 stock picker in the IT Services sector. He was also recognized as a “Rising Star” by Institutional Investor magazine for the Payments, Processors & IT Services sector in 2016, and has been quoted by The Wall Street Journal, New York Times, Barron’s and CNBC.
Vertical Software & FinTech Companies under Research Coverage
|Alkami Technology, Inc.||ALKT|
|BigCommerce Holdings, Inc.||BIGC|
|Bill.com Holdings, Inc.||BILL|
|BTRS Holdings Inc.||BTRS|
|Coupa Software Incorporated||COUP|
|Fidelity National Info. Services||FIS|
|Global Payments Inc.||GPN|
|Global-E Online Ltd.||GLBE|
|i3 Verticals, Inc.||IIIV|
|International Money Express, Inc.||IMXI|
|PagSeguro Digital Ltd.||PAGS|
|Paycom Software, Inc.||PAYC|
|Paylocity Holding Corp.||PCTY|
|PayPal Holdings, Inc.||PYPL|
|Q2 Holdings, Inc.||QTWO|
Jason Celino is an Equity Research Analyst with KeyBanc Capital Markets Inc. His research coverage is focused on the vertical software sector.
Jason joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to assuming coverage of the vertical software space in March 2019, he worked at KBCM as a senior research associate covering that sector since 2014.
Jason earned a Bachelor of Business Administration degree in Finance and Accounting from the University of Portland. He holds the Chartered Financial Analyst designation, in addition to the Series 7, 63, 86 and 87 industry licenses.
Vertical Software Companies under Research Coverage
|Aspen Technology, Inc.||AZPN|
|Bentley Systems, Incorporated||BSY|
|Cadence Design Systems, Inc.||CDNS|
|Dassault Systemes SA||DSY-FR|
|Procore Technologies, Inc.||PCOR|
|PROS Holdings, Inc.||PRO|
|SPS Commerce, Inc.||SPSC|
Hans Chung, CFA
China Internet & Ecommerce
Hans Chung, CFA, is a Vice President, Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in China’s internet and ecommerce. Hans has been a key contributor to the semiconductor team, covering PCs, mobile devices, cloud computing and wireless technology.
Hans joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 2013, Hans had many years of experience in technology and the internet industry in Taiwan and China, where he worked as a manager in R&D and business development departments.
Hans earned a Master of Science in Electrical Engineering and a Master of Business Administration. from the University of Michigan. He is proficient in Mandarin and has been a CFA charterholder since 2014.
China Internet & Ecommerce Companies under Research Coverage
|Alibaba Group Holding Ltd.||BABA|
|Dada Nexus Limited||DADA|
|Lufax Holding Ltd.||LU|
|OneConnect Financial Technology Co., Ltd.||OCFT|
|Tencent Holdings Ltd.||700.HK|
|Tencent Music Entertainment Group||TME|
|Trip.com Group Ltd.||TCOM|
|Vipshop Holdings Ltd.||VIPS|
Steve Enders, CFA
Collaboration & Infrastructure Software
Steve Enders is a Vice President, Equity Research Analyst with KeyBanc Capital Markets Inc. His research coverage is focused on the collaboration and infrastructure software sector.
Prior to his promotion to senior analyst in 2020, Enders worked at KBCM as a research associate covering the enterprise infrastructure sector. Previously, he was an investment data analyst with the University of Oregon Foundation.
Enders earned a Bachelor of Science in Mathematics and Business Administration with a concentration in Finance from the University of Oregon. He holds the Chartered Financial Analyst designation, in addition to the Series 7, 63, 86 and 87 industry licenses.
Collaboration & Infrastructure Software Companies under Research Coverage
|Arista Networks, Inc.||ANET|
|Cisco Systems, Inc.||CSCO|
|Commvault Systems, Inc.||CVLT|
|EPAM Systems, Inc.||EPAM|
|Pure Storage, Inc.||PSTG|
|Vonage Holdings Corp.||VG|
|Zoom Video Communications, Inc.||ZM|
Brandon Nispel, CFA
Brandon Nispel, CFA, is a Vice President, Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in communications services.
He joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 2015, Brandon worked as an associate with Northern Trust helping manage high-net-worth portfolios.
He has a Bachelor of Business Administration in Financial Markets Finance from the University of Minnesota-Duluth and has been a CFA charterholder since 2015.
In Institutional Investor’s 2018 All America edition, Nispel was named a Rising Star for his coverage of the cable, satellite & telecom sector.
Communications Services Companies under Research Coverage
|Akamai Technologies, Inc.||AKAM|
|American Tower Corporation||AMT|
|Cable One, Inc.||CABO|
|Charter Communications, Inc.||CHTR|
|Cogent Communications, Inc.||CCOI|
|Crown Castle International Corp.||CCI|
|SBA Communications Corp.||SBAC|
|The Walt Disney Company||DIS|
|T-Mobile US, Inc.||TMUS|
|Verizon Communications Inc.||VZ|
Tyler Parker is a Vice President, Equity Research Analyst with KeyBanc Capital Markets Inc. He covers the video games space with a focus on deep-dive fundamental research.
Tyler joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. He joined the firm’s internet and video games team in 2014, moving to focus on internet and media from 2016-2018. Before that, he worked as a financial analyst at Nike.
Tyler graduated with a B.S. in Business Administration from the University of Oregon with a focus on finance and entrepreneurship.
Entertainment Companies under Research Coverage
|Activision Blizzard, Inc.||ATVI|
|Electronic Arts Inc||EA|
|Rovio Entertainment Corporation||ROVIO|
|Take-Two Interactive Software, Inc||TTWO|
|Ubisoft Entertainment SA||UBI.FP|
Justin Patterson, CFA
Internet – Digital Media & Travel
Justin Patterson is a Director, Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in Internet – Digital Media & Travel sectors.
Prior to joining KeyBanc Capital Markets in summer 2020, Patterson spent five years as a Senior Equity Research Analyst covering the Internet - Digital Media, Travel, and Sharing Economy sectors at Raymond James. Before that, he worked for Morgan Keegan, first as an Associate covering Communications Technology, then as an Analyst covering Internet and Travel.
Patterson earned a M.S. in Finance from Vanderbilt University in Nashville, and a B.S. in Accounting and Economics from Ball State University in Muncie, Ind. He is a Chartered Financial Analyst, and also holds the Series 7, 63, 86 & 87 industry licenses.
In its 2018 Analyst Awards, ThomsonReuters recognized Patterson as the #2 stock picker in the Digital Marketing sector. This was his second Thomson Reuters award. In Institutional Investor’s 2016 All America edition, Patterson was named a Rising Star.
Internet – Digital Media & Travel Companies under Research Coverage
|ANGI Homeservices Inc.||ANGI|
|DoubleVerify Holdings, Inc.||DV|
|Match Group, Inc.||MTCH|
|Spotify Technology, S.A.||SPOT|
|The Trade Desk, Inc.||TTD|
Michael Turits is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. His research coverage focuses on the Enterprise Software sector.
Prior to joining KeyBanc Capital Markets in fall 2020, Turits spent 13 years as an Equity Research Analyst covering Infrastructure Software at Raymond James & Associates in New York. Before that, he was an Equity Research Analyst covering Infrastructure Software and Telecommunications Services for Prudential Equity Group, LLC for 10 years.
Turits earned a Masters in International Economics and Management from SDA Bocconi University in Milan, Italy, a Ph.D. in Comparative Literature from the University of Massachusetts at Amherst in Amherst, Massachusetts, an M.A. in Comparative Literature from New York University in New York, and a B.A from Georgetown University. He holds the Series 7, 63, 86 & 87 industry licenses. He is also a Certified Flight Instructor and Airline Transport Pilot.
Enterprise Software Companies under Research Coverage
|Check Point Software Technologies||CHKP|
|DigitalOcean Holdings, Inc.||DOCN|
|New Relic, Inc.||NEWR|
|Palo Alto Networks, Inc.||PANW|
|SEMrush Holdings, Inc.||SEMR|
|Slack Technologies, Inc.||WORK|
|Sprout Social, Inc.||SPT|
John Vinh, CFA
John Vinh, CFA, is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in the semiconductor industry, with a particular focus on the components accelerating the proliferation of smartphones, tablets and other touchscreen devices.
He joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 2012, John was a managing director at Collins Stewart, focusing on research in the semiconductor and digital media industries. Prior to Collins Stewart, he was a senior product manager at Ariba, responsible for several procurement and strategic sourcing applications. Earlier, he spent six years in the foreign-exchange derivatives group at UBS.
John holds a Master of Business Administration in Analytical Finance and Econometrics from the University of Chicago Graduate School of Business, and a Bachelor of Science in Electrical Engineering from the University of Michigan. John holds the CFA charter.
Semiconductors Companies under Research Coverage
|Advanced Micro Devices, Inc.||AMD|
|Cirrus Logic, Inc.||CRUS|
|Lattice Semiconductor Corporation||LSCC|
|Marvell Technology Group Ltd.||MRVL|
|Micron Technology, Inc.||MU|
|Monolithic Power Systems, Inc.||MPWR|
|NXP Semiconductors N.V.||NXPI|
|Silicon Laboratories Inc.||SLAB|
|Skyworks Solutions, Inc.||SWKS|
Edward Yruma is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. With the company since fall 2008, his research coverage is focused on Retail Softlines/Apparel companies.
Prior to joining KeyBanc Capital Markets, Yruma spent eight years with J.P. Morgan, first as a technology and telecommunications investment banker in both San Francisco and New York, and most recently as a Vice President and Senior Business and Consumer Services Analyst.
He also serves as a board member for the Retail Marketing Society. He formerly served as a board member for St. John’s Bread and Life, one of the largest soup kitchens in New York City.
Yruma is a frequent guest on CNBC and Bloomberg, and is regularly quoted in The Wall Street Journal, Barron’s and The New York Times.
Internet Retailing Companies Under Research Coverage
|G-lll Apparel Group, Ltd.||GIII|
|lululemon athletica inc.||LULU|
|Opendoor Technologies Inc.||OPEN|
|Oxford Industries, Inc.||OXM|
|Peloton Interactive, Inc.||PTON|
|Qurate Retail Group||QRTEA|
|The RealReal, Inc.||REAL|
|Revolve Group, Inc.||RVLV|
|Stitch Fix, Inc||SFIX|
|Uber Technologies, Inc.||UBER|
|Under Armour, Inc.||UAA|
|Weight Watchers International, Inc.||WW|
|Zillow Group, Inc.||Z|