Wells Fargo analyst Aaron Rakers maintains Dell Technologies with a Overweight and raises the price target from $85 to $140.
Wells Fargo analyst maintains Dell Technologies with a Overweight Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We boost our 12-month target to $84 from $70 on a revised P/E of 30x our CY 25 EPS view, above peers but below historical. We keep our FY 24 (Jan.) EPS view at $1.51, FY 25 at $2.31, and FY 26 at $2.79. Ahead of Jan-Q results set for after the close on 3/7, we look for revenue of $1.42B and EPS of $0.46 (flat for both Y/Y). All eyes will of course be on AI revenue, which is largely driving growth for its data center segment (half of total sales). We note AI revenue appears on pace to blow through its previously guided FY 25 run rate of $800M, on greater momentum from both its optics and custom silicon solutions (about half of total from
CFRA Maintains Strong Buy Opinion On Shares Of Marvell Technology, Inc. Read Post »
Veeva Systems (VEEV) cited “more optimism” among top pharmaceutical customers as macro hurdles persist, UBS Securities said Thursday in a report. Veeva’s outlook “hints at overall demand stabilization or perhaps a H2 improvement,” UBS said. “We expect the stock to find support given the green shoots of improvement and a likely upward revision” to the consensus for free cash flow, UBS said. Veeva’s plans to subsidize service costs associated with migration to the new Vault CRM product will lessen the risk of losing customers to Salesforce (CRM), UBS said. UBS reiterated its neutral rating on Veeva’s stock and kept the price target at $235. At least six other analysts raised their price targets after Veeva reported Q4 results Thursday that topped consensus estimates. Veeva shares fell 1% in recent Friday trading.
By Eric J. Savitz Google is one of the best businesses ever built. The Alphabet unit controls more than 90% of the global internet search market, which allows the company to sell an astonishing amount of advertising, $238 billion worth in 2023 alone. But the market now fears it could all come unglued by a torrent of new competition from artificial intelligence. To be sure, it hasn’t happened yet. By one estimate, Google still accounts for 39% of the global ad market. Alphabet is the fifth-largest U.S.-listed company by market value, at $1.7 trillion, trailing only Microsoft, Apple, Nvidia, and Amazon.com. Long-term investors, meanwhile, have been more than rewarded. Had you invested $1,000 in Google shares at the August 2004 initial public offering, you’d have more than $55,000 today. But the Alphabet story is finally showing cracks. At a recent $138, shares are flat this year, trailing the 8% gain
Google Faces a Real AI Threat in Search. Why It Might Be Time to Worry. — Barrons.com Read Post »
Dell Technologies (DELL.US) is expected to benefit from strength in artificial intelligence-optimized servers and a likely refresh cycle in personal computers, UBS Securities said in a note. Late Thursday, Dell reported an AI server backlog of $2.9 billion at the end of the fiscal year, which UBS said reflected an increase from $1.6 billion at the end of last quarter. The computer maker shipped $800 million of AI-optimized servers, implying AI orders were “strong” at $2.1 billion, UBS analysts David Vogt and Andrew Spinola wrote. “While the proliferation of AI infrastructure assets is in the early innings, the solid results this quarter particularly after the soft order intake ($100 million) in the final month of last quarter should be well received by the market,” Vogt and Spinola said in the note emailed Friday. The brokerage raised its price target on Dell’s stock to $113 from $99 to reflect stronger near-term
By Jacob Sonenshine The stock market just doesn’t want to go down right now, but no one should let their fear of missing out on gains override their risk management. Nothing looks like it can stop the market. The Nasdaq Composite is on pace to close at a new all-time high, up 1.6% for the week, while the S&P 500 is on pace to close the week up 0.8%, which would also be a record. The benchmark index has now risen for two consecutive weeks. We know what investors are thinking. The gains can keep coming, driven by an economy that is neither too hot nor too cold. The personal consumption expenditures price index rose 2.4% year over year in January, in line with estimates, and durable-goods orders came in lower than expected. The economy is growing, but only moderately, and the Federal Reserve can keep thinking about when it
Apple Could Take This Bull Market Down — Barron’s Read Post »
Mizuho analyst Vijay Rakesh maintains Micron Technology (NASDAQ:MU) with a Buy and raises the price target from $100 to $105.
Mizuho analyst maintains Micron Technology (NASDAQ:MU) with a Buy Read Post »
Dell is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. For the fourth quarter, Dell posted revenue of $22.3 billion, down 11% from a year earlier. The figure was within the company’s guidance of $21.5 billion to $22.5 billion, and ahead of the analysts’ consensus as tracked by FactSet of $22.2 billion. Earnings on an adjusted basis were $2.20 a share, well ahead of the street consensus of $1.73 a share and the company’s forecast for $1.70 a share. Dow Jones & Co. owns Factiva.
Dell 4Q Revenue Beats Estimates Read Post »
Dell Technologies’ (DELL) remarks around artificial intelligence servers were encouraging and showed the company’s AI story is in early days and “gaining momentum,” Morgan Stanley said Friday. The computer maker late Thursday delivered better-than-expected fiscal Q4 results. The management’s AI server commentary “stole the show,” with backlog almost doubling and orders increasing about 40% sequentially, Morgan Stanley said in a note. The brokerage raised its price target on the Dell stock to $128 from $100. “While Dell has had a phenomenal run over the last 12 months, we believe there is still further outperformance to capture, and a hard catalyst to drive this re-rating, allowing us to reinstate Dell as our top pick,” Morgan Stanley said. The company’s shares were up nearly 26% in recent trading.
Dell’s Comments About AI Servers ‘Stole the Show,’ Morgan Stanley Says Read Post »
Apple (AAPL) is fielding concerns from selected public and private entities about possible security risks ahead of new rules in the European Union requiring the company to open up its devices to outside app suppliers, Reuters reported, citing company documents. Beginning March 7, Apple will be required to allow iPhone and Ipad users to download and buy apps from additional sources besides its App Store platform. The new rules mandated by the EU’s Digital Markets Act are intended to provide outside developers with more access into the Apple ecosystem, although the so-called “sideloading” of apps also is fueling worries from certain users whether the new sources will be safe. “These agencies – especially those serving essential functions such as defense, banking, and emergency services – have reached out to us about these new changes,” Apple said Friday in a guidance paper obtained by Reuters.
The following is a summary of the Dell Technologies Inc. (DELL) Q4 2024 Earnings Call Transcript: Financial Performance: Dell reported FY24 revenue of $88.4 billion, operating income of $7.7 billion and EPS of $7.13. Q4 returned revenue of $22.3 billion, an operating income of $2.1 billion, and diluted EPS of $2.20. Dell generated $8.7 billion cash flow from operations with improved cash conversion cycle to negative 47 days. They delivered improved operating margin rate by focusing on higher gross margins and managing operating expenses effectively. Dell Financial Services origins were $8.4 billion for the year and $2.5 billion in Q4, with DFS managed assets concluding the year at $14.4 billion. Dell announced a 20% increase in annual dividend to $1.78 per share. Business Progress: AI-optimized server portfolio, especially the flagship PowerEdge XE9680 showed positive momentum in Q4 with nearly 40% sequential growth in orders. Dell witnessing three consecutive quarters of
Dell Technologies Inc. (NYSE:DELL) Q4 2024 Earnings Conference Read Post »
Barclays analyst Raimo Lenschow maintains Snowflake (NYSE:SNOW) with a Equal-Weight and lowers the price target from $198 to $188.
Barclays analyst maintains Snowflake (NYSE:SNOW) with a Equal-Weight Read Post »