JMP Securities analyst Patrick Walravens reiterates DocuSign with a Market Outperform and maintains $84 price target.
JMP Securities analyst reiterates DocuSign with a Market Outperform Read Post »
MongoDB Inc (NASDAQ:MDB) shares were down on Friday after the company reported its fourth-quarter results and issued weak guidance. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. DA Davidson On MongoDB Analyst Rudy Kessinger upgraded the rating from Neutral to Buy, while raising the price target from $405 to $430. Although MongoDB reported strong fourth-quarter results, its shares slid on disappointing fiscal 2025 guidance, which projected growth of 13%-15% and operating margins of around 10%, missing the consensus estimate of 22% and 14%, respectively, Kessinger said in the upgrade note. “Rev will face a $80M headwind in FY25 from multi-year term licenses ($40M) & unused Atlas commitments ($40M) that will not repeat,” the analyst stated. “This is very high GM Rev that is not repeating, and when combined with accelerated hiring, OMs will take a step back from 16% in FY24,” he
MongoDB’s Concerns About Outlook Despite Strong Q4 Results: Analysts Revise Forecasts Read Post »
Broadcom Inc (NASDAQ:AVGO) shares were down on Friday, even after the company reported upbeat fourth-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. JPMorgan On Broadcom Analyst Harlan Sur maintained an Overweight rating while lifting the price target from $1,550 to $1,700. Broadcom delivered better-than-expected quarterly results and reiterated its full-year outlook of $50 billion in revenues and 60% EBITDA margin, “on sustained momentum in semiconductors and solid growth in its mission critical software franchise,” Sur wrote in a note. “For its semiconductor business, the team saw accelerating demand for its AI solutions ($2.3B in the Jan-Qtr, up 50%+ Q/Q) which offset weakness in its core diversified semi business (ex-AI ~$5.1B down 12% Q/Q,” Sur added. Goldman Sachs On Broadcom Analyst Toshiya Hari maintained a Buy rating while bumping the price target from $1,325 to $1,550. Broadcom delivered “solid” results for
Broadcom (AVGO) is expected to see growth acceleration in the second half of the year as VMWare bookings are off to a strong start and the company’s artificial intelligence pipeline is “solid,” BofA Securities said Friday. Late Thursday, the chipmaker logged stronger-than-expected fiscal first-quarter results as it benefited from its VMware acquisition, completed in November, as well as AI demand. The company continues to project 2024 consolidated revenue advancing 40% year over year at $50 billion. Although the company held its outlook steady, the sales mix is shifting more towards AI, which is now pegged to top $10 billion, up from $7.5 billion estimated previously, BofA analyst Vivek Arya said in an emailed note. VMWare has seen a strong start to the year, with overall company software bookings set to almost double sequentially to $3 billion in the current quarter and VMWare sales seen increasing 10% every quarter, according to
Broadcom Poised for Second-Half Growth Acceleration Amid VMWare, AI Strengths, BofA Says Read Post »
Marvell Technology’s (MRVL) fiscal first-quarter outlook was well short of expectations, though the semiconductor solutions provider is likely to stage a “material snapback,” aided by strong prospects in its cloud custom silicon business, Morgan Stanley said Friday. Late Thursday, the company said it expected first-quarter adjusted earnings of $0.23 a share, plus or minus $0.05, and net revenue of $1.15 billion, plus or minus 5%. Morgan Stanley was looking for $0.43 and $1.40 billion, respectively. Sequentially, Marvell sees consumer, carrier, and enterprise networking sales slumping by 70%, 50%, and 40%, respectively, Chief Executive Matt Murphy said on an earnings conference call late Thursday, according to a Capital IQ transcript. The company’s shares were down nearly 11% in late Friday afternoon trade. Although the magnitude of the outlook miss was surprising, it is expected to mark the bottom, with a “material snapback” likely amid positive commentary around the cloud custom silicon
The following is a summary of the Marvell Technology, Inc. (MRVL) Q4 2024 Earnings Call Transcript: Financial Performance: Marvell Technology reported Q4 revenue of $1.43 billion, up 1% sequentially. Gross margin increased by 330 basis points. The quarterly earnings per share was $0.46, a sequential increase of 12%. Data center revenue was a record $765 million, a year-over-year increase of 54%. Fiscal 2024 reported revenue was $5.5 billion. Company plans to increase stock repurchases in Q1 2025. Business Progress: Marvell is focusing on AI infrastructure and data center market for fiscal 2025. Company continues collaborating with TSMC to develop 2-nanometer semiconductors for accelerated infrastructure. Significant revenue contributions are expected from AI cloud optimized programs in fiscal 2025. Successful product qualifications of 1.6T products supports this goal. Plans to expand customer base in data center market with new design wins. Reported double digit revenue growth in automotive sector from new ethernet
Marvell Technology (NASDAQ:MRVL) Q4 2024 Earnings Conference Read Post »
Mizuho analyst Vijay Rakesh maintains NVIDIA with a Buy and raises the price target from $850 to $1000.
Mizuho analyst maintains NVIDIA with a Buy Read Post »
UBS analyst Timothy Arcuri maintains Intel (NASDAQ:INTC) with a Neutral and raises the price target from $38 to $46.
UBS analyst maintains Intel (NASDAQ:INTC) with a Neutral Read Post »
Angela Palumbo Investors have been busy buying up chip stocks with exposure to generative artificial intelligence, but one Mizuho analyst sees near-term risk to this big boom in semiconductor-stock prices. Mizuho analyst Jordan Klein wrote in a research note Thursday that he is “starting to actually get worried,” about the persistent gains of chip stocks, specifically citing Nvidia, Broadcom, and Marvel Technology. “Stocks do not only go up, and this current investor mentality which feels nearing a frenzy to get more and more Semi exposure with sell-side targets going higher and higher starts to remind me of 1999 into early 2000 across Tech,” Klein wrote. Nvidia stock has surged 290% in the last 12 months, and consistently continues to hit new highs. The gain may be warranted, though. The company reported fiscal 2024 revenue of $60.9 billion in February, a 126% increase from the prior year. Chief Financial Officer Colette
Nvidia, Chip Stocks Could Hit an Air Pocket Soon, Says Analyst — Barrons.com Read Post »
By Dan Gallagher Much remains to be seen about how Europes new Digital Markets Act will actually impact Apples business. But the timing for the iPhone maker could hardly be worse. The new law, which goes into effect on Thursday ( requires Apple, Google and other operators of digital platforms to allow third-party app stores ( and alternative payment options on those platforms. Its a major change for Apple, which has practiced a closed-ecosystem ( approach since launching its first iPhone in 2007. Apple announced a series of changes ( in late January to its App Store for the European market to comply with the new rules, though those changes are proving highly controversial in their own righteven sparking a new battle ( with longtime nemesis Epic Games. Those changes come as Apple is facing worries ( about another weak iPhone cycle ( and the health of its business in
Heard on the Street: Apple Investors Are Getting More Worried — WSJ Read Post »
Adobe Systems (ADBE) is expected to report solid growth and a moderate upside to estimates in fiscal Q1, Oppenheimer said in a note to clients Thursday. The investment firm reiterated Adobe’s outperform rating, with a price target of $660. Adobe will report its fiscal Q1 results on March 14. Oppenheimer estimates revenue of $5.12 billion and pro-forma earnings of $4.37 per share. Analysts surveyed by Capital IQ expect revenue of $5.14 billion and normalized EPS of $4.38. “Our research mosaic points to modest upside to estimates, a stable operating environment, and consistent trends and momentum for Adobe’s business,” Oppenheimer analysts said. Adobe’s net new digital media annual recurring revenue is also expected to show a 7% beat to the fiscal Q1 guidance, according to the note. Rising concerns over competition due to strong product demonstrations by competitors in generative AI imaging and video generation should gradually ease for Adobe as
MongoDB Sees 1Q Adj EPS 34c-Adj EPS 39c。
MongoDB Sees 1Q Adj EPS 34c-Adj EPS 39c Read Post »