Technology

CFRA Maintains Buy Opinion On Shares Of Alphabet Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target price to $175 from $166, on near long-term historical P/E of 22.2x our 2025 EPS estimate, which we raise to $7.88 from $7.54. We up our 2024 EPS to $6.88 from $6.77. Ahead of Q1 results set to be released on 4/25, we see upside to EPS/revenue as we expect strong results from both GOOGL’s Search (+11%) and YouTube (+10%) businesses. We think cloud revenue will grow 26% and see a mid-to-high 20s level being sustained for all of 2024 as we see incremental opportunities tied to AI monetization. We expect GOOGL to unveil a new buyback of at least $70B (same level as the last two years) and see the potential for a dividend initiation following one by Meta Platforms earlier […]

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Intel Has Slumped This Year. Why One Analyst Sees a Rebound Ahead. — Barrons.com

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By Eric J. Savitz It’s been a terrible year for Intel shareholders, with the stock down more than 27% on concerns about how long it will take for the company to turn profitable in its still-nascent semiconductor foundry business. But Citi analyst Christopher Danely expects better performance from the stock in the near-term. On Monday, he set an “upside 30-day catalyst watch” on shares. He kept his Neutral rating and $40 target price. Danely noted that new data show that notebook computer shipments spiked 44% in March from February, a factor that he thinks provides potential upside to consensus estimates. Wall Street is expecting sales of $12.9 billion and profits of 15 cents a share when the company reports financial results on April 25. Intel’s guidance for the quarter calls for revenue of $12.2 billion to $13.2 billion with a non-GAAP profit of 13 cents a share. Last week, the

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Buy IBM Stock Ahead Of Earnings, Says Analyst. Here’s Why. — Barrons.com

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Eric J. Savitz International Business Machines stock is trading higher Monday after Evercore ISI analyst Amit Daryanani advised investors to buy shares ahead of the company’s first-quarter-earnings report on April 24. Daryanani, who already had an Outperform rating and $215 target price on IBM stock, added shares to his firm’s “tactical outperform list.” On Monday, IBM stock is 1.6% higher to $185.27; shares had rallied 13% this year, and surged 45% over the last 12 months. The analysts notes that there have been some concerns about the potential for weakness in IBM’s consulting business given recent weakness at rival Accenture. But he contends that recent macro and IT-spending data have been improving — he thinks IBM’s momentum in consulting should continue. The company’s consulting arm grew 5.8% in the December quarter. The analyst expects the company to post March quarter revenue of $14.6 billion and profit per share of $1.60,

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Salesforce May Face Integration Challenges With Prospective Acquisition of Informatica, RBC Says

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Salesforce’s (CRM) prospective acquisition of Informatica (INFA) may present integration challenges for the customer service software company, RBC Capital Markets said in a report sent Monday. “While we understand the potential strategic rationale and messaging, we are mixed on the deal overall, especially given the size,” the brokerage said. RBC said bringing together Infomatica and Salesforce’s earlier acquisitions such as MuleSoft and Tableau and its Data Cloud business may prove challenging for Salesforce, it said. “We recognize the difficulty of integrating all of these services and question the necessity of Salesforce owning Informatica, versus partnering,” it said. RBC said the reported talks to acquire Informatica, which offers enterprise cloud data management and data integration services, remain unsubstantiated, adding it has no knowledge of any potential deal. The firm maintained its outperform rating on CRM and price target of $350 following the reports. Salesforce shares were more than 5% lower in

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Google and Potential AWS Deals Showcase Reddit’s Critical Role in AI and Brand Strategy: Analysts

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Needham analyst Laura Martin initiated coverage on Reddit Inc (NYSE:RDDT) with a Buy rating and a price target of $55. Reddit emphasizes the growing value of its extensive library of human conversations for training large language models (LLMs) and brand “social listening,” as per Martin. The platform’s 18-year collection of daily updated conversations across 1.2 million topics and 7.5 million comments, according to the analyst, positions Reddit as a prime resource for understanding diverse human dialogues and popular expressions. Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google’s $200 million deal with Reddit for data access underscores the potential for data licensing revenue, with OpenAI and several Amazon.Com Inc (NASDAQ:AMZN) Amazon Web Services LLMs expected to follow suit due to the indispensable nature of Reddit’s data for LLM development, Martin said. She stated that Reddit’s unique data offers significant pricing power for GenAI applications by facilitating a nuanced understanding of language evolution and current terminologies. Unlike alternative sources, Reddit’s real-time human conversations

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Nvidia’s Hopper Demand and Blackwell Launch Position Makes It A Top Large-Cap Pick: Analysts

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Piper Sandler analyst Harsh V. Kumar reiterated an Overweight rating on Nvidia Corp (NASDAQ:NVDA) with a $1,050 price target, his top large-cap pick. During his recent AI Discovery Bus Tour, Kumar engaged directly with Nvidia’s management team, which allowed him to delve deeper into the company’s current operations and future prospects. Despite being in the market for nearly two years, the demand for Nvidia’s Hopper GPU remains robust, with the supply needing to catch up, as per the analyst. He said the supply-demand imbalance will likely continue throughout the year, potentially offering a slight margin boost until the introduction of the Blackwell GPU. As per Kumar, the launch of the Blackwell GPU later this year will likely mirror the supply and demand challenges faced by Hopper. Customers are reluctant to switch their orders from Hopper to Blackwell, fearing even longer wait times due to anticipated supply constraints. Nvidia’s management addressed concerns about the

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How Salesforce’s Potential Informatica Deal Is an Unwelcome Flashback to Its Old Ways

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By Therese Poletti Investors are wary, based on Salesforce’s spotty history of M&A Wall Street did not react well to reports that Salesforce Inc. might buy Informatica, as investors were reminded of its mixed track record at acquisitions. Shares of Salesforce (CRM) tumbled 7.3% on Monday, and shaved 125 points off the Dow Jones Industrial Average DJIA, following a Wall Street Journal report late Friday that the cloud-software giant is in advanced talks to buy Informatica, a data-management software developer, for an estimated $11 billion. While there were mixed thoughts on Wall Street, it’s worth pointing out that activist investors pounced on Salesforce last year as growth stalled and its market value was cut in half, following years of hit-and-miss acquisitions that were intended to drive revenue growth. Last March, Salesforce disbanded its M&A committee, a move applauded by Elliott Management as one of a few recommendations it had made

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Apple’s Smartphone Sales Slump as China Rivals Ris

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By Jiahui Huang and Ben Otto Apple’s global smartphone shipments hit the skids in the first quarter, toppling the tech giant from its top position globally and raising concerns about a crucial business line amid rising competition from Chinese rivals. Apple’s iPhone shipments fell 9.6% on year to 50.1 million units in the first quarter, according to preliminary data from research firm International Data Corporation late Sunday. Samsung’s shipments fell 0.7% to 60.1 million units, enough for the South Korean company to reclaim its status as the number one seller of smartphones worldwide, IDC said in its quarterly tracking of smartphone shipments. Apple had overtaken Samsung in the fourth quarter. Apple’s market share fell to 17.3% from 20.7% a year ago, while Samsung’s fell to 20.8% from 22.5%. The declines in the two companies’ market share come even as total shipments of the top five makers of smartphones expanded for

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CFRA Maintains Strong Buy Opinion On Shares Of Microsoft Corporation

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target price to $475 from $455 based on a P/E of 33x our CY 25 view, above historical, as we see upside to forward expectations related to an improving AI growth trajectory/high visibility. We raise our FY 24 (Jun.) EPS estimate to $11.74 from $11.56 and FY 25 to $13.43 from $13.04. We start FY 26 at $15.39. Ahead of Mar-Q results expected on 4/23, we look for EPS of $2.84 on 15% revenue growth. We think all eyes will be on Azure, which we see growing 29%, with 6 to 8 percentage points of AI contribution. Any insights on Microsoft 365 Copilot adoption will also be monitored (first full quarter), as we do expect to hear positive commentary and see positive contribution

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