Technology

ServiceNow (NYSE:NOW) Stock Analyst Ratings

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ServiceNow (NYSE:NOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/11/2024 3.5% Stifel $650 → $740 Maintains Buy 12/06/2023 7.69% Argus Research $675 → $770 Maintains Buy 11/30/2023 1.4% Wells Fargo $675 → $725 Maintains Overweight 11/09/2023 -4.9% RBC Capital $665 → $680 Maintains Outperform 10/26/2023 -9.09% Stifel $640 → $650 Maintains Buy 10/26/2023 -13.29% Piper Sandler $600 → $620 Maintains Overweight 10/26/2023 -11.89% BMO Capital $615 → $630 Maintains Outperform 10/26/2023 -5.59% Wells Fargo $650 → $675 Maintains Overweight 10/26/2023 -9.37% Morgan Stanley $630 → $648 Maintains Overweight 10/26/2023 -7.69% Needham → $660 Reiterates Buy → Buy 10/24/2023 -19.58% Truist Securities → $575 Reiterates Hold → Hold 10/24/2023 -13.99% BMO Capital $630 → $615 Maintains Outperform 10/19/2023 -8.11% Guggenheim → $657 Reiterates Buy → Buy 10/19/2023 -2.1% Citigroup $734 → $700 Maintains Buy 10/18/2023 -7.69% Needham → $660 Reiterates Buy → […]

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CrowdStrike (NASDAQ:CRWD) Stock Analyst Ratings

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CrowdStrike (NASDAQ:CRWD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/10/2024 14.1% Citigroup $275 → $320 Maintains Buy 01/09/2024 8.39% Morgan Stanley $203 → $304 Upgrades Equal-Weight → Overweight 01/05/2024 6.97% Oppenheimer $240 → $300 Maintains Outperform 12/21/2023 12.32% Rosenblatt $245 → $315 Maintains Buy 12/21/2023 15.88% Needham $250 → $325 Maintains Buy 12/15/2023 -3.73% BMO Capital $238 → $270 Maintains Outperform 12/15/2023 -1.95% Mizuho $225 → $275 Maintains Buy 12/11/2023 -4.09% JP Morgan $230 → $269 Maintains Overweight 11/30/2023 -20.84% Goldman Sachs $195 → $222 Maintains Buy 11/29/2023 -17.99% Truist Securities → $230 Reiterates Buy → Buy 11/29/2023 -19.77% Mizuho $205 → $225 Maintains Buy 11/29/2023 -14.43% Stifel $225 → $240 Maintains Buy 11/29/2023 -16.21% JMP Securities → $235 Reiterates Market Outperform → Market Outperform 11/29/2023 -27.62% Morgan Stanley $187 → $203 Maintains Equal-Weight 11/29/2023 -14.43% Canaccord Genuity $221 → $240

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Meta Platforms (NASDAQ:META) Stock Analyst Ratings

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Meta Platforms (NASDAQ:META) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/10/2024 27.57% Mizuho $400 → $470 Maintains Buy 01/09/2024 7.75% BMO Capital → $397 Initiates Coverage On → Market Perform 12/27/2023 13.99% Wedbush $350 → $420 Maintains Outperform 11/22/2023 18.07% Tigress Financial $380 → $435 Maintains Strong Buy 11/14/2023 9.92% Stifel → $405 Reiterates Buy → Buy 10/26/2023 9.92% Truist Securities $390 → $405 Maintains Buy 10/26/2023 8.57% RBC Capital → $400 Reiterates Outperform → Outperform 10/26/2023 -3.65% Piper Sandler $365 → $355 Maintains Overweight 10/26/2023 -5% Wedbush → $350 Reiterates Outperform → Outperform 10/26/2023 -0.93% Roth MKM $360 → $365 Maintains Buy 10/26/2023 3.14% Wells Fargo $372 → $380 Maintains Overweight 10/26/2023 8.57% Barclays $410 → $400 Maintains Overweight 10/26/2023 11.55% Rosenblatt $372 → $411 Maintains Buy 10/26/2023 3.14% Keybanc $356 → $380 Maintains Overweight 10/24/2023 -0.93% Seaport Global →

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Snap’s Improving Trends Will Fuel Higher Results But Tailwinds Already Priced Into Stock, Morgan Stanley Says

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Snap’s (SNAP) improving ad trends, partnerships and technologies will drive revenue and earnings higher over the next two years but greenshoots are already reflected in the stock, analysts at Morgan Stanley wrote in a note emailed Wednesday. The brokerage nearly doubled its price target on the stock to $13 from $7 and increased its 2024 and 2025 revenue targets by 4% and 6%, respectively. It also lifted projections on earnings before interest, taxes, depreciation, and amortization for those years by 43% and 31%. Better near-term ad trends, artificial intelligence, China-based ad spending, and a third-party Amazon (AMZN) partnership that could drive conversion and pricing are positive trends for the company, according to Morgan Stanley’s report. The latter two factors are “the most material,” it wrote. In Asia, Temu’s budget for global operating expenses, primarily consisting of advertising, is set to grow by 34% in 2024 to $5.9 billion. While Meta’s

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Snap Revenue Estimates for 2024, 2025 Raised by Morgan Stanley Amid Underweight Rating

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Snap’s (SNAP) revenue estimates for 2024 and 2025 were increased by about 4% and 6% respectively by Morgan Stanley, according to a note from the investment bank. Morgan Stanley pointed to improving near-term advertiser performance and conversions, China-based advertiser spending and Snap’s partnership with Amazon.com (AMZN). “The partnership highlights an opportunity for Snap to have more commerce oriented ads that could drive higher conversion and pricing,” the investment bank said. Morgan Stanley also said that artificial intelligence is another tailwind that could provide further upside for Snap, noting the company’s investment in AI tools to enhance organic and paid content targeting and attribution. Morgan Stanley raised Snap’s price target to $13 from $7 while keeping its underweight rating, saying that the stock has overshot over how quickly the platform will turn.

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Apple Suffers Third Downgrade In January Amidst Anticipated iPhone Sales Rise

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Investment analyst firm Redburn Atlantic has added its name to the list of firms downgrading Apple Inc. (NASDAQ:AAPL). This marks the third downgrade for the tech giant this month, following similar actions by Barclays and Piper Sandler. What Happened: James Cordwell, an analyst at Redburn Atlantic, decreased his rating for Apple from “buy” to “neutral,” maintaining his $200 price target, reported AppleInsider, citing Seeking Alpha. Despite forecasting a 2024 rise in iPhone sales, Cordwell cautioned about a potentially lackluster March quarter. Previously, Barclays predicted that the iPhone 16 would have no compelling feature, while Piper Sandler downgraded the tech giant over fears of falling demand.

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Salesforce (NYSE:CRM) stock Analyst Ratings

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Salesforce (NYSE:CRM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/11/2024 12.23% Baird $240 → $300 Upgrades Neutral → Outperform 01/02/2024 6.62% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 30.93% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 4.75% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 17.84% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 8.49% Argus Research $275 → $290 Maintains Buy 11/30/2023 8.49% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 12.23% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 12.23% Stifel $275 → $300 Maintains Buy 11/30/2023 2.88% Truist Securities → $275 Reiterates Buy → Buy 11/30/2023 -2.73% JP Morgan $240 → $260 Maintains Overweight 11/30/2023 9.61% JMP Securities $275 → $293 Maintains Market Outperform 11/30/2023 4.75% Mizuho $255 → $280 Maintains Buy 11/30/2023 2.88% Oppenheimer $250 → $275 Maintains

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CrowdStrike Set to See Higher Demand, Broader Platform Traction in 2024, Morgan Stanley Says

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CrowdStrike (CRWD) is set to see improved demand due to rising cyberattacks, new products, and generative artificial intelligence tailwinds, Morgan Stanley said in a note Tuesday. The analysts said they were upgrading the stock based on “improving demand, broader platform traction, and multiple product cycles still ramping up,” including Charlotte AI. Ransomware attacks are on the rise, driving stronger demand for CrowdStrike’s incident response and endpoint security services, and boosting the company’s professional services revenue. This is one of the key indicators for stronger subscription demand and shows why CrowdStrike is set to outperform in 2024, the analysts said. The company has also expanded from core endpoint protection to a broader platform as well as remains strongly positioned to leverage and monetize GenAI, given its leadership in securing endpoints, the analysts said, adding that they expect the recently launched Charlotte AI to add $100 million in annual recurring revenue by

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Apple’s App Store Fiscal Q1 Revenue Rose 2% With December Up 10%, BofA Says

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Apple’s (AAPL) App Store revenue in fiscal Q1 rose 2% to $6.7 billion, BofA Securities said Tuesday in a report, citing Sensor Tower data. Fiscal Q1 had 91 days while the same period a year earlier had 98 days, the report said. App Store revenue in December rose about 10% both globally and in China, BofA said. In Q1, App Store gaming revenue decreased 3.4% to $3.6 billion and made up only 53% of total revenue compared with 56% a year earlier, the report said. The one less week in Q1 drove the drop, the bank said. App Store revenue trends in December also improved in the US, BofA said. The investment firm kept its neutral rating on Apple as “positive catalysts of new product introduction and stable iPhones are offset by a potentially weaker consumer spending environment,” according to the report.

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