Skip to Main Content

Josh Beck

Payments & FinTech

Josh Beck is a Vice President, 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, e-commerce, 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.

Show More/Less About Josh Beck

Josh holds an M.B.A. from Carnegie Mellon University’s Tepper School of Business and a B.S. in engineering from Virginia Tech.

Josh was 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.

Payments & FinTech Companies Under Research Coverage

Company
Ticker
Alliance Data Systems Corporation
ADS
American Express Company
AXP
Cardlytics Inc.
CDLX
Diebold Nixdorf Incorporated
DBD
First Data Corporation
FDC
Global Payments Inc.
GPN
LendingClub Corporation
LC
MasterCard Inc.
MA
PayPal Holdings, Inc.
PYPL
Square, Inc.
SQ
Total System Services, Inc.
TSS
VeriFone Systems, Inc.
PAY
Visa, Inc.
V
Worldpay, Inc.
WP

Brent Bracelin

Cloud Software & Analytics

Brent Bracelin is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. His research coverage is focused on cloud software and analytics with an emphasis on emerging growth areas within SaaS, in addition to new data science tools that are empowering the next era of intelligent computing.

Brent joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 1998, he was a technology analyst at Charter Investment Group and a generalist at The Red Chip Review.

Show More/Less About Brent Bracelin

Brent received a B.A. in finance from Linfield College.

Brent was ranked by Institutional Investor ‘s All-America Research Team in three categories. He has appeared regularly on CNBC and Bloomberg, and is frequently quoted in Barron’s, Business Insider, The Wall Street Journal, Reuters and Dow Jones.

Cloud Software & Analytics Companies Under Research Coverage

Company
Ticker
Adobe Systems Incorporated
ADBE
Alteryx, Inc.
AYX
Amazon.com, Inc.
AMZN
AppFolio Inc.
APPF
Bandwidth Inc.
BAND
BlackLine, Inc.
BL
Cornerstone OnDemand, Inc.
CSOD
Ellie Mae, Inc.
ELLI
Everbridge, Inc.
EVBG
Five9, Inc.
FIVN
HubSpot, Inc.
HUBS
Microsoft Corporation
MSFT
MINDBODY, Inc.
MB
Oracle Corporation
ORCL
Paycom Software, Inc.
PAYC
Salesforce.com, Inc.
CRM
SendGrid Inc.
SEND
Tableau Software Inc.
DATA
Talend SA
TLND
Twilio Inc.
TWLO
Tyler Technologies, Inc.
TYL
Veeva Systems, Inc.
VEEV
Wix.com LTD
WIX
Workday, Inc.
WDAY
Yext, Inc.
YEXT
Zendesk, Inc.
ZEN

Hans Chung, CFA

China Internet & E-Commerce

Hans Chung, CFA, is an Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in China’s internet and e-commerce. 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.

Show More/Less About Hans Chung, CFA

Hans earned an M.S. in electrical engineering and an M.B.A. from the University of Michigan. He is proficient in Mandarin and has been a CFA charterholder since 2014.

China Internet & E-Commerce Companies Under Research Coverage

Company
Ticker
Alibaba Group Holding Ltd.
BABA
Baidu, Inc.
BIDU
BEST Inc.
BSTI
Ctrip.com International, Ltd.
CTRP
JD.com, Inc.
JD
Tencent Holdings Ltd.
700.HK
Vipshop Holdings Ltd
VIPS

Brad Erickson

Marketplaces

Brad Erickson is an Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in marketplaces research.

Brad joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Since joining the firm in 2010, Brad has been a key contributor to the wireless team, covering mobile handsets, equipment, components and infrastructure. With the global proliferation of mobile devices, Brad follows companies across the automotive and consumer verticals that are leveraging connectivity to their advantage, either as a means of distribution or through products themselves.

Show More/Less About Brad Erickson

Brad has a B.A. in economics from Northwestern University.

Marketplaces Companies Under Research Coverage

Company
Ticker
Booking Holdings Inc.
BKNG
Despegar.com, Corp.
DESP
Expedia, Inc.
EXPE
Garmin Ltd.
GRMN
GrubHub Inc.
GRUB
Impinj, Inc.
PI
MercadoLibre, Inc.
MELI
Redfin Corp.
RDFN
Sabre Corp.
SABR
Tesla Motors, Inc.
TSLA
TripAdvisor, Inc.
TRIP
Yelp Inc.
YELP
Zillow Group, Inc.
Z

Monika Garg

Vertical Software

Monika Garg is a Vice President, Equity Research Analyst with KeyBanc Capital Markets Inc., and covers the vertical software industry. She uses her considerable experience in software and engineering to evaluate industry structures, technologies and strategies.

Monika joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm, Monika worked on the buy side. She also gained industry experience at Cypress Semiconductor and Motorola, where she helped design next-generation technologies.

Show More/Less About Monika Garg

Monika received her M.B.A. from the University of Chicago in analytical finance, accounting and economics. She received a graduate certification in VLSI design from Stanford University in electrical engineering and her B.E. in electrical engineering from Punjab Engineering College in India.

Vertical Software Companies Under Research Coverage

Company
Ticker
2U Inc.
TWOU
Amber Road, Inc.
AMBR
ANSYS, Inc.
ANSS
AppFolio Inc.
APPF
Aspen Technology, Inc.
AZPN
Autodesk, Inc.
ADSK
Cadence Design Systems, Inc.
CDNS
ChannelAdvisor Corporation
ECOM
CommerceHub, Inc.
CHUBA
Dassault Systèmes SA
DSY-FR
Guidewire Software, Inc.
GWRE
Manhattan Associates, Inc.
MANH
Oracle Corporation
ORCL
PTC, Inc.
PTC
RealPage, Inc.
RP
SAP SE
SAP.GY
Shopify, Inc.
SHOP
SPS Commerce, Inc.
SPSC
Synopsys, Inc.
SNPS

Andy Hargreaves, CFA

Media & Internet

Andy Hargreaves, CFA, is a Director, Equity Research Analyst with KeyBanc Capital Markets Inc. He covers digital media with a vertical approach that focuses on the relationships among software, hardware and content.

Andy joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. He joined the firm’s software team in 2003 and helped it earn national recognition as Institutional Investor’s Best of the Boutiques in 2003 and 2004. Before that, he helped manage portfolios for high-net-worth individuals at Merrill Lynch and Robertson Stephens.

Show More/Less About Andy Hargreaves, CFA

Andy graduated with a B.A. in economics from UCLA. He holds the CFA charter.

Andy received honorable mention in Institutional Investor’s 2008, 2009 and 2011 All-America Research Teams in the IT hardware category, the software category for 2009 and 2011, and in the Internet category in 2011. He was also ranked in the IT hardware category in 2010. He often appears on CNBC, Bloomberg and Fox Business News, and has been quoted in Barron’s, The Wall Street Journal and the Chicago Tribune.

Media & Internet Companies Under Research Coverage

Company
Ticker
21st Century Fox
FOXA
Alphabet Inc.
GOOGL
AMC Networks Inc.
AMCX
Apple Inc.
AAPL
Cardlytics Inc.
CDLX
CBS Corporation
CBS
Comcast Corporation
CMCSA
Criteo S.A.
CRTO
Discovery Communications, Inc.
DISCA
Facebook, Inc.
FB
Netflix, Inc.
NFLX
Pandora Media, Inc.
P
Sirius XM Radio Inc.
SIRI
Time Warner Inc.
TWX
Twitter, Inc.
TWTR
Viacom, Inc.
VIAB

Alex Kurtz

Enterprise Infrastructure

Alex Kurtz is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc., and heads the enterprise infrastructure practice.

Alex has a decade of experience covering emerging data center technologies. From May 2011 to June 2016, Alex was a managing director at Sterne Agee. Prior to Sterne Agee, he was with Merriman Capital. Before Merriman, Alex worked at EMC Corporation, where he performed business analysis duties for the Inside Sales organization for North America, as well as the OEM/Channels organization. He also worked as an associate covering the data networking sector at Thomas Weisel Partners.

Show More/Less About Alex Kurtz

Alex has a B.A. in economics from Tufts University and an M.B.A. from The Carroll School of Management.

For the 2010 “Best on the Street” WSJ Survey, Alex was ranked #2 in the computer and office equipment sector.

Enterprise Infrastructure Companies Under Research Coverage

Company
Ticker
Appian Corporation
APPN
Arista Networks, Inc.
ANET
Atlassian Corporation Plc
TEAM
CA, Inc.
CA
Cisco Systems, Inc.
CSCO
Commvault Systems, Inc.
CVLT
Cray Inc.
CRAY
Everbridge, Inc.
EVBG
F5 Networks, Inc.
FFIV
Five9, Inc.
FIVN
Hewlett Packard Enterprise Company
HPE
Juniper Networks, Inc.
JNPR
LogMeIn, Inc.
LOGM
NetApp, Inc.
NTAP
NetScout Systems, Inc.
NTCT
Nutanix, Inc.
NTNX
Pure Storage, Inc.
PSTG
Red Hat, Inc.
RHT
Tintri, Inc.
TNTR
Twilio Inc.
TWLO
VMware, Inc.
VMW

Mike McConnell

Semiconductors

Mike McConnell is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in the semiconductor industry.

Mike joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 2002, he worked at Thomas Weisel Partners, focusing on research in semiconductors and semiconductor capital equipment. Prior to that, he worked at Franklin Templeton Investments.

Show More/Less About Mike McConnell

Mike received a B.A. with honors from the University of California, Davis, and is proficient in Mandarin and Spanish.

Mike's semiconductor research earned him rankings on Institutional Investor’s All-America Research Teams from 2004 to 2011. He appears regularly on CNBC and Bloomberg, and is frequently quoted in The Wall Street Journal, the San Jose Mercury News and by Reuters.

Semiconductors Companies Under Research Coverage

Company
Ticker
Advanced Micro Devices, Inc.
AMD
Analog Devices, Inc.
ADI
Intel Corporation
INTC
Marvell Technology Group Ltd.
MRVL
Maxim Integrated Products, Inc.
MXIM
Microchip Technology Incorporated
MCHP
Microsemi Corporation
MSCC
NVIDIA Corporation
NVDA
ON Semiconductor Corporation
ON
Qualcomm Incorporated
QCOM
Silicon Motion Technology Corporation
SIMO
Taiwan Semiconductor Manuf. Co.
TSM
Texas Instruments Incorporated
TXN

Brandon Nispel, CFA

Communications Services

Brandon Nispel, CFA, is an 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, Nispel worked as an associate with Northern Trust helping manage high-net-worth portfolios.

Show More/Less About Brandon Nispel, CFA

He has a B.B.A. in financial markets finance from the University of Minnesota-Duluth and has been a CFA charterholder since 2015.

Communications Services Companies Under Research Coverage

Company
Ticker
Akamai Technologies, Inc.
AKAM
American Tower Corporation
AMT
AT&T Inc.
T
Cogent Communications, Inc.
CCOI
Crown Castle International Corp.
CCI
GTT Communications, Inc.
GTT
SBA Communications Corp.
SBAC
Sprint Corporation
S
T-Mobile US, Inc.
TMUS
Verizon Communications Inc.
VZ
Zayo Group Holdings, Inc.
ZAYO

Rob Owens

Security and Infrastructure Software

Rob Owens is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. Rob and his team focus on understanding the key drivers of the enabling technologies involved with the Internet and corporate IT.

Rob joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. He has been with the firm since 1994, and manages its security and infrastructure software practice.

Show More/Less About Rob Owens

Rob graduated cum laude with a B.S. in mathematics and finance from Linfield College.

Rob’s accolades include a third-place ranking in The Wall Street Journal‘s “Best on the Street” survey for his earnings forecasting; a sixth-place ranking in a Reuters survey for his software sector research; and rankings in Institutional Investor‘s 2006-2009 and 2003 All-America Research Teams, with an honorable mention in the software category in 2011. Rob is frequently a speaker at industry conferences and tradeshows.

Security and Infrastructure Software Companies Under Research Coverage

Company
Ticker
Apptio, Inc.
APTI
Box, Inc.
BOX
Check Point Software Technologies
CHKP
Citrix Systems, Inc.
CTXS
CyberArk Software Ltd.
CYBR
FireEye, Inc.
FEYE
ForeScout Technologies Inc.
FSCT
Fortinet, Inc.
FTNT
Imperva, Inc.
IMPV
New Relic, Inc.
NEWR
Okta, Inc.
OKTA
Palo Alto Networks, Inc.
PANW
Proofpoint, Inc.
PFPT
Qualys, Inc.
QLYS
Rapid7, Inc.
RPD
SailPoint Technologies Holdings
SAIL
SecureWorks Corp.
SCWX
ServiceNow, Inc.
NOW
Sophos Group PLC
SOPH-GB
Splunk Inc.
SPLK
Symantec Corporation
SYMC

Arvind Ramnani

Tech-Enabled Business Services

Arvind Ramnani is a Director, Equity Research Analyst with KeyBanc Capital Markets Inc., and heads the tech-enabled business services and IT services practice. Arvind has over a decade of experience covering the technology & IT services space at Sanford Bernstein, UBS and BNP Paribas.

Prior to joining the firm, Arvind was an independent research analyst servicing large institutional investors. Before starting his Wall Street career, Arvind was a founding member of a technology services firm that grew to 1,200 employees. Investors leverage Arvind for his industry insights, which include proprietary checks with buyers of tech (CTOs, CIOs, decision makers), private-company executives, software companies, takeaways from industry conferences, and onsite field visits to operational hubs (India, Eastern Europe, etc.).

Show More/Less About Arvind Ramnani

Arvind graduated with majors/minors in economics, computer science, MIS and management from Luther College and earned his M.B.A. from the University of Michigan.

Arvind was recognized by Institutional Investor in the IT services sector, and is often quoted in Barron’s, Investor’s Business Daily and BBC.

Tech-Enabled Business Services Companies Under Research Coverage

Company
Ticker
Accenture plc
ACN
Cognizant Technology Solutions
CTSH
DXC Technology Co.
DXC
EPAM Systems
EPAM
Fidelity National Information Services, Inc.
FIS
Fiserv, Inc.
FISV
Globant S.A.
GLOB
Infosys Limited
INFY
International Business Machines
IBM
Luxoft Holding
LXFT
Q2 Holdings, Inc.
QTWO

Weston Twigg

Semiconductor & Industrial Technology

Weston Twigg is a Managing Director, Equity Research Analyst with KeyBanc Capital Markets Inc. He leads the semiconductor and industrial technology equity research group.

He joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 2005, he worked in the semiconductor industry as a senior engineer at Intel, and before that, as a process engineer at Samsung.

Show More/Less About Weston Twigg

Weston received his M.B.A. from the University of Washington, his M.S. in chemical engineering from Michigan State University, and his B.A. in chemistry from Albion College.

He has been recognized as one of the Top Ten Stock Pickers in the U.S. by Financial Times and StarMine, and has been a winner in The Wall Street Journal’s “Best on the Street” survey three times, including taking the top spot in 2011. In 2008, he was voted “Best Up-and-Coming Analyst” by Institutional Investor, and he has been regularly named in that publication’s All-American Research Team.

Semiconductor & Industrial Technology Companies Under Research Coverage

Company
Ticker
3D Systems Corporation
DDD
Acuity Brands, Inc.
AYI
Advanced Energy Industries, Inc.
AEIS
Applied Materials, Inc.
AMAT
ASML Holding N.V.
ASML-NL
Cree, Inc.
CREE
Entegris, Inc.
ENTG
KLA-Tencor Corporation
KLAC
Lam Research Corporation
LRCX
Materialise NV
MTLS
Micron Technology, Inc.
MU
MKS Instruments, Inc.
MKSI
Nanometrics Incorporated
NANO
Proto Labs, Inc.
PRLB
Seagate Technology
STX
Stratasys Ltd.
SSYS
Teradyne, Inc.
TER
Veeco Instruments Inc.
VECO
Western Digital Corporation
WDC

John Vinh, CFA

Semiconductors

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.

Show More/Less About John Vinh, CFA

John holds an M.B.A. in analytical finance and econometrics from the University of Chicago Graduate School of Business, and a B.S. in electrical engineering from the University of Michigan. John holds the CFA charter.

Semiconductors Companies Under Research Coverage

Company
Ticker
Ambarella, Inc.
AMBA
Broadcom Limited
AVGO
Cavium, Inc.
CAVM
Cirrus Logic, Inc.
CRUS
Cypress Semiconductor Corporation
CY
Integrated Device Technology, Inc.
IDTI
Mellanox Technologies, Ltd.
MLNX
Monolithic Power Systems, Inc.
MPWR
NXP Semiconductors N.V.
NXPI
Qorvo, Inc.
QRVO
Silicon Laboratories Inc.
SLAB
Skyworks Solutions, Inc.
SWKS
Synaptics, Incorporated
SYNA
Xilinx, Inc.
XLNX

Evan Wingren, CFA

Media & Internet

Evan Wingren, CFA, is an Equity Research Analyst with KeyBanc Capital Markets Inc., and specializes in media and internet with an emphasis on entertainment.

He joined KeyBanc Capital Markets through its acquisition of Pacific Crest Securities. Prior to joining the firm in 2014, Evan worked for D.A. Davidson & Co. as a research associate covering forest products and packaging.

Show More/Less About Evan Wingren, CFA

He has a B.S. in finance from Linfield College and is a CFA charterholder.

Media & Internet Companies Under Research Coverage

Company
Ticker
Activision Blizzard, Inc.
ATVI
Electronic Arts Inc.
EA
Lions Gate Entertainment Corp.
LGF.A/LGF.B
MSG Networks Inc.
MSGN
Take-Two Interactive Software, Inc.
TTWO
World Wrestling Entertainment
WWE
Zynga, Inc.
ZNGA

Edward Yruma

E-Commerce

Ed 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 e-commerce, retail softlines and 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.

Show More/Less About Edward Yruma

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.

E-Commerce Companies Under Research Coverage

Company
Ticker
Amazon.com, Inc.
AMZN
Blue Apron Holdings, Inc.
APRN
eBay Inc.
EBAY
Etsy, Inc.
ETSY
Fossil, Inc.
FOSL
Movado Group, Inc.
MOV
Nordstrom, Inc.
JWN
Oxford Industries, Inc.
OXM
Qurate Retail Group
QRTEA
V.F. Corporation
VFC
Wal-Mart Stores, Inc.
WMT
Wayfair Inc.
W

KeyBanc Capital Markets is a trade name under which corporate and investment banking products and services of KeyCorp® and its subsidiaries, KeyBanc Capital Markets Inc., Member FINRA/SIPC, and KeyBank National Association ("KeyBank N.A."), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives, who may also be employees of KeyBank N.A. Banking products and services are offered by KeyBank N.A.

Securities products and services: Not FDIC Insured • No Bank Guarantee • May Lose Value

Please read our complete KeyBanc Capital Markets disclosure statement.
Back to Top