Technology

Applied Materials (Nasdaq: AMAT) Stock Is Surging. Why Wall Street Likes What It Sees. — Barrons.com

/ / Technology /

By Callum Keown Applied Materials (Nasdaq: AMAT) ‘ earnings beat and upbeat outlook gave Wall Street cause to believe that the chip equipment maker’s strong rally can keep going. The shares, which surged 12% to $210.50 ahead of the open Friday, enjoyed a flurry of price target hikes from analysts Friday. Wall Street is bullish on the stock, with 65% of analysts rating it Buy, according to FactSet data. Applied’s CEO Gary Dickerson said the company was positioned at key inflection points in the chip industry and was set to continue to outperform “as customers ramp up next-generation chip technologies” critical to artificial intelligence, in the earnings release. J.P.Morgan analyst Harlan Sur appeared to agree with that assessment as he raised his price target to $230 from $170 and maintained an Overweight rating. He said Applied was well-positioned to benefit from “multiple technology inflections that should drive outperformance” over the […]

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DoorDash (NASDAQ:DASH) Stock Analyst Ratings

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DoorDash (NASDAQ:DASH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 21.03% Truist Securities $130 → $140 Maintains Buy 02/06/2024 12.39% JMP Securities $113 → $130 Maintains Market Outperform 02/06/2024 14.98% Needham → $133 Reiterates Buy → Buy 01/19/2024 -5.77% Roth MKM $92 → $109 Maintains Neutral 01/17/2024 21.03% Mizuho $120 → $140 Maintains Buy 01/09/2024 3.74% BMO Capital → $120 Initiates Coverage On → Outperform 01/08/2024 12.39% Jefferies $90 → $130 Upgrades Hold → Buy 11/16/2023 8.07% Deutsche Bank → $125 Initiates Coverage On → Buy 11/15/2023 -9.22% Needham → $105 Reiterates Buy → Buy 11/03/2023 -2.31% JMP Securities $100 → $113 Maintains Market Outperform 11/03/2023 12.39% Truist Securities $125 → $130 Maintains Buy 11/02/2023 -17.01% JP Morgan $95 → $96 Maintains Neutral 11/02/2023 -55.91% Piper Sandler $47 → $51 Maintains Underweight 11/02/2023 -17.87% Barclays $90 → $95 Maintains Equal-Weight 11/02/2023

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Apple Stockholders Want an AI Update. This Is When It Could Come. — Barrons.com

/ / Technology /

By Adam Clark Apple hasn’t said much about its artificial-intelligence plans. Investors hoping for that to change might need to wait until the iPhone maker’s developers’ conference. Apple’s Worldwide Developers Conference is expected to take place in June and is likely to be the time when the company makes its AI announcements, according to Citi analyst Atif Malik. Apple CEO Tim Cook said in the company’s latest earnings call that the company was investing in the technology and would make an announcement later this year. “Apple hasn’t publicly talked about its AI efforts in details, and concerns have been around the company… lagging other tech giants in the race. We note that the company has been making notable progress in recent months,” Malik wrote in a research note. “Worldwide Developers Conference (WWDC) may mark the announcement of various Apple AI tools.” Speculation for the event has largely revolved around the

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Nvidia Corp. (NASDAQ:NVDA) Remains ‘Top Pick’ Ahead of Fiscal Q4 Results, BofA Says

/ / Technology /

Nvidia Corp. (NASDAQ:NVDA) remains a “top pick” ahead of the release of its fiscal Q4 results on Wednesday, BofA Securities said in a note Thursday. But the firm said that “a notable but brief pullback after the recent parabolic run-up in the stock” wouldn’t be surprising, with options indicating an implied move of about 11% following earnings. BofA also said that stock volatility would likely be temporary as investors look ahead to Nvidia’s GPU Tech Conference on March 18 to 21 that will feature important pipeline, partner and artificial intelligence updates. On AI total addressable market, the firm said it could be taken to the $250 billion to $500 billion range by cloud competition, sovereign AI, enterprise on-premises spending and pricing. BofA maintained Nvidia’s buy rating with a price objective of $800.

Nvidia Corp. (NASDAQ:NVDA) Remains ‘Top Pick’ Ahead of Fiscal Q4 Results, BofA Says Read Post »

CFRA Maintains Hold Opinion On Shares Of Doordash, Inc. (NASDAQ:DASH)

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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 up our 12-month target $10 to $110, on a P/E of 31x our ’25 EPS view, above peers to reflect financial strength (net cash of $3.9B) and higher growth. We lift our ’24 EPS view to $2.71 from $2.41 and ’25’s to $3.54 from $3.23. Doordash, Inc. (NASDAQ:DASH) posted Q4 adjusted EBITDA of $363M vs. $117M, well above the $356M consensus, on sales growth of 27% that also topped estimates. Growth was driven by a 22% increase in Marketplace GOV and a 23% rise in total orders to 574M. We are encouraged by accelerating growth across nearly all businesses despite macroeconomic uncertainty, highlighting the stickiness of DASH’s ecosystem. We remain optimistic on DASH given high growth potential from DashPass and Wolt+ subscriptions (+18M members in ’23

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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 02/16/2024 6.52% UBS $285 → $310 Maintains Neutral 02/12/2024 11.67% Oppenheimer $300 → $325 Maintains Outperform 01/23/2024 6.52% Baird $300 → $310 Maintains Outperform 01/22/2024 0.68% JMP Securities → $293 Reiterates Market Outperform → Market Outperform 01/11/2024 3.08% Baird $240 → $300 Upgrades Neutral → Outperform 01/02/2024 -2.07% Piper Sandler $266 → $285 Maintains Neutral 12/21/2023 20.26% Morgan Stanley $290 → $350 Upgrades Equal-Weight → Overweight 12/20/2023 -3.79% Wells Fargo → $280 Downgrades Overweight → Equal-Weight 12/18/2023 8.24% Wolfe Research → $315 Upgrades Peer Perform → Outperform 12/01/2023 -0.35% Argus Research $275 → $290 Maintains Buy 11/30/2023 -0.35% Evercore ISI Group $275 → $290 Maintains Outperform 11/30/2023 3.08% Raymond James $280 → $300 Maintains Strong Buy 11/30/2023 3.08% Stifel $275 → $300 Maintains Buy 11/30/2023 -5.51% Truist Securities → $275 Reiterates Buy

Salesforce (NYSE:CRM) Stock Analyst Ratings Read Post »

Dell Technologies Inc. (NYSE:DELL) Stock Analyst Ratings

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Dell Technologies Inc. (NYSE:DELL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 17.06% UBS $80 → $99 Maintains Buy 01/08/2024 6.42% JP Morgan $77 → $90 Upgrades Neutral → Overweight 01/03/2024 6.42% Bernstein $80 → $90 Maintains Outperform 12/01/2023 -8.95% JP Morgan $76 → $77 Maintains Neutral 12/01/2023 1.69% Goldman Sachs $78 → $86 Maintains Buy 12/01/2023 0.51% Wells Fargo $80 → $85 Maintains Overweight 12/01/2023 -3.04% Raymond James $68 → $82 Maintains Outperform 11/20/2023 12.33% Melius Research → $95 Initiates Coverage On → Buy 10/06/2023 5.24% Morgan Stanley $87 → $89 Maintains Overweight 10/03/2023 2.87% Morgan Stanley $70 → $87 Maintains Overweight 09/25/2023 -11.32% Deutsche Bank $68 → $75 Maintains Buy 09/22/2023 -5.4% Citigroup $70 → $80 Maintains Buy 09/19/2023 -5.4% Daiwa Capital $50 → $80 Upgrades Neutral → Outperform 09/11/2023 -5.4% Evercore ISI Group $70 → $80 Maintains Outperform

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Nvidia Corp. (NASDAQ:NVDA) Stock Analyst Ratings

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Nvidia Corp. (NASDAQ:NVDA) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/16/2024 14.08% Wells Fargo $675 → $840 Maintains Overweight 02/16/2024 15.44% Oppenheimer $650 → $850 Maintains Outperform 02/16/2024 8.65% Wedbush $600 → $800 Maintains Outperform 02/16/2024 62.97% Loop Capital → $1200 Initiates Coverage On → Buy 02/14/2024 15.44% Susquehanna $625 → $850 Maintains Positive 02/13/2024 12.04% Mizuho $625 → $825 Maintains Buy 02/12/2024 5.25% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 02/07/2024 1.86% Morgan Stanley $603 → $750 Maintains Overweight 02/05/2024 8.65% Goldman Sachs $625 → $800 Maintains Buy 01/29/2024 5.25% Cantor Fitzgerald → $775 Reiterates Overweight → Overweight 01/23/2024 5.25% Cantor Fitzgerald → $775 Initiates Coverage On → Overweight 01/19/2024 -4.94% Raymond James $600 → $700 Maintains Strong Buy 01/18/2024 7.29% Tigress Financial $560 → $790 Maintains Buy 01/16/2024 0.5% Keybanc $650 → $740 Maintains Overweight 01/03/2024 -44.32% DA

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DoorDash (NASDAQ:DASH)’s EBITDA Outlook Viewed Positively by Bulls, RBC Capital Markets Says

/ / Technology /

DoorDash’s (DASH) adjusted EBITDA guidance of $1.5 billion to $1.9 billion for 2024 is viewed positively by market bulls, RBC Capital Markets said in a note Thursday. “We believe bulls view [the guidance] as conservative with upside potential above the high-end,” RBC said. DoorDash said Thursday that its adjusted EBITDA hit an “all-time high” of $363 million in Q4. This exceeded the RBC and Street estimates of $362 million and $355 million, respectively. For 2024, the firm said it raised its gross order value forecast to $77.32 billion from $74.55 billion and adjusted EBITDA to $1.78 billion from $1.44 billion on higher orders. RBC maintained its sector perform rating on DoorDash stock and raised the price target to $130 from $105. DoorDash shares were down 7.5% in recent Friday trading.

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