Technology

CFRA Maintains Strong Buy Rating On Shares Of Servicenow, Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target price to $852 from $771 on a P/E of 65x our 2024 EPS view on large deal momentum and revenue upside from GenAI demand. We increase our 2024 EPS forecast to $13.10 from $12.85 and start 2025’s at $16.35. NOW posted Q4 revenue of $2.44B, above consensus by $40M, and non-GAAP EPS of $3.11 beat by $0.33. Sales accelerated 25.6% (versus +20% in Q4 of the prior year) driven by a strong volume of large transactions; NOW notched 168 deals with annual contract values (ACVs) exceeding $1M, up 33% Y/Y. Although results benefited from easier comps, we see performance indicative of a more positive demand environment and NOW’s strong execution. RPO accelerated 28.6% Y/Y (versus 21.7% Y/Y in Q4 2022), reflecting enterprise appetite […]

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IBM Poised for Strong Revenue Growth Through 2025, BofA Securities Says

/ / Technology /

IBM (IBM) issued 2024 guidance that topped expectations by analysts and teased a mainframe launch in 2025, setting the company up for strong revenue growth in the next two years, BofA Securities said in a reported dated Wednesday. The company on Wednesday estimated $12 billion in 2024 free cash flow amid increased profitability and reduced cash requirements from changes to its retirement plans, and IBM can deliver almost $13 billion in free cash flow in 2025, given the strong trajectory, BofA said. IBM’s software business probably will reaccelerate this year, and productivity improvements are poised support the company’s margins and cash flow, BofA said. IBM on Wednesday reported Q4 non-GAAP diluted earnings and revenue that topped estimates by analysts. BofA reiterated its buy rating on IBM and raised its price target to $200 from $170. Shares of IBM jumped 13% in recent Thursday trading.

IBM Poised for Strong Revenue Growth Through 2025, BofA Securities Says Read Post »

Advanced Micro Devices (NASDAQ:AMD) Stock Analyst Ratings

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Advanced Micro Devices (NASDAQ:AMD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 22.79% UBS $135 → $220 Maintains Buy 01/24/2024 20% New Street Research → $215 Upgrades Neutral → Buy 01/23/2024 6.04% Cantor Fitzgerald → $190 Initiates Coverage On → Overweight 01/22/2024 — Northland Capital Markets Downgrades Outperform → Market Perform 01/19/2024 6.04% Raymond James $140 → $190 Maintains Strong Buy 01/16/2024 11.63% Barclays $120 → $200 Maintains Overweight 01/16/2024 8.83% Keybanc $170 → $195 Maintains Overweight 01/08/2024 4.93% Melius Research → $188 Upgrades Hold → Buy 01/05/2024 -9.58% Mizuho $130 → $162 Maintains Buy 01/04/2024 -5.12% Keybanc $140 → $170 Maintains Overweight 12/18/2023 -12.37% Goldman Sachs $137 → $157 Maintains Buy 12/15/2023 -7.91% B of A Securities → $165 Upgrades Neutral → Buy 12/07/2023 11.63% Rosenblatt → $200 Reiterates Outperform → Outperform 12/07/2023 -19.07% Stifel → $145 Reiterates Buy →

Advanced Micro Devices (NASDAQ:AMD) Stock Analyst Ratings Read Post »

IBM’s ‘Accelerating’ AI Demand Helps Power Stock Higher After Earnings

/ / Technology /

By Emily Bary Company also notches a profit beat International Business Machines Corp.’s stock was surging more than 9% higher in Thursday afternoon trading after the technology giant topped profit expectations for the latest quarter and called out an uptick in artificial-intelligence demand. The company late Wednesday posted net income of $3.3 billion, or $3.55 a share, compared with $2.9 billion, or $2.96 a share, in the year-earlier period. On an adjusted basis, IBM (IBM) earned $3.87 a share from continuing operatings, whereas analysts were modeling $3.79 a share. Revenue rose to $17.4 billion from $16.7 billion, while the FactSet consensus was for $17.3 billion. The company saw a 3% increase in software revenue, a 6% bump in consulting revenue, and a 3% uptick in infrastructure revenue. Within the company’s software segment, which brought in $7.5 billion in total revenue, the company saw 8% growth in sales from Red Hat.

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Intel Reports Fourth-Quarter and Full-Year 2023 Financial Results

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Intel Reports Fourth-Quarter and Full-Year 2023 Financial Results News Summary — Fourth-quarter revenue was $15.4 billion, up 10 percent year-over-year (YoY). Full-year revenue was $54.2 billion, down 14 percent YoY. — Fourth-quarter earnings per share (EPS) attributable to Intel was $0.63; non-GAAP EPS attributable to Intel was $0.54. Full-year EPS attributable to Intel was $0.40; non-GAAP EPS attributable to Intel was $1.05. — Forecasting first-quarter 2024 revenue of $12.2 billion to $13.2 billion; expecting first-quarter EPS attributable to Intel of $(0.25) (non-GAAP EPS attributable to Intel of $0.13). SANTA CLARA, Calif.–(BUSINESS WIRE)–January 25, 2024– Intel Corporation today reported fourth-quarter and full-year 2023 financial results. “We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” said Pat Gelsinger, Intel CEO. “The quarter capped a year of tremendous progress on Intel’s transformation, where we consistently drove execution and accelerated innovation, resulting

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KLA Guides For Q3 EPS of $4.66-$5.86 on Revenue of $2.3 Billion, +/-$125 Million, Vs CIQ Analyst Consensus of $5.86/Share on Revenue of $2.5 Billion

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KLA Guides For Q3 EPS of $4.66-$5.86 on Revenue of $2.3 Billion, +/-$125 Million, Vs CIQ Analyst Consensus of $5.86/Share on Revenue of $2.5 Billion.

KLA Guides For Q3 EPS of $4.66-$5.86 on Revenue of $2.3 Billion, +/-$125 Million, Vs CIQ Analyst Consensus of $5.86/Share on Revenue of $2.5 Billion Read Post »

Intel 4Q Sales Rebound Offers Hope for PC Demand

/ / Technology /

Intel sales rebounded in the fourth quarter, offering a signal of a strengthening PC market. The company says revenue rose 10% to $15.4 billion in 4Q, surpassing analysts estimates. The sales improvement helps Intel swing back to a profit, posting per-share earnings of 63 cents, ahead of the 21 cents forecast by analysts. The company’s computing segment saw revenue rise 33% from a year ago, helping offset a decline in data center and AI. Shares fall 6% to $46.58 after-hours.

Intel 4Q Sales Rebound Offers Hope for PC Demand Read Post »

Intel Reports Increase in Earnings, Revenue; Shares Slide in Late Trade After Q1 Outlook Trails Street Views

/ / Technology /

Intel (INTC) late Thursday reported non-GAAP Q4 net income of $0.54 per share, improving on net income of $0.15 per share during the same quarter in 2022. Analysts polled by Capital IQ, on average, had been looking for normalized earnings of $0.45 per share by the chipmaker. Revenue for the three months ended Dec. 31 rose to $15.41 billion, compared with $14.04 billion a year ago. The analyst consensus was for $15.17 billion. Intel is projecting a non-GAAP profit of $0.13 per share on between $12.2 billion to $13.2 billion in revenue for the current quarter ending March 31. The Street sees the company earning $0.32 per share in Q1 on revenue of $14.15 billion. Intel shares were nearly 7% lower in extended trading.

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KLA 2Q Profit Falls Amid Continued Demand Weakness

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KLA’s profit fell in the fiscal second quarter as the company continued to grapple with weaker demand. The Milpitas, Calif.-based company, which makes equipment for the semiconductor industry, posted a profit of $582.5 million, or $4.28 a share, in the quarter ended Dec. 31, compared with $978.8 million, or $6.89 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $5.66. Stripping out certain one-time items, adjusted per-share earnings came to $6.16, ahead of the $5.91 forecast by analysts, according to FactSet. Revenue fell to $2.49 billion from $2.98 billion a year earlier, beating the $2.46 billion expected by analysts polled by FactSet. “While market conditions remain challenging in the near-term, with limited visibility regarding the timing of a resumption in sustainable demand, we believe our business has stabilized around current revenue levels,” said Chief Executive Rick Wallace. The company is forecasting fiscal third quarter revenue of

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KLA Fiscal Q2 Non-GAAP Earnings, Revenue Decline

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KLA (KLAC) reported fiscal Q2 non-GAAP diluted earnings late Thursday of $6.16 a share, down from $7.38 a year earlier. Analysts polled by Capital IQ expected $5.88 normalized. Revenue in the quarter ended Dec. 31 fell to $2.49 billion from $2.98 billion a year earlier. Analysts surveyed by Capital IQ expected $2.46 billion. The company said it expects fiscal Q3 non-GAAP diluted earnings of $5.26 a share, plus or minus $0.60. Analysts surveyed by Capital IQ expect $5.86 normalized. The company expects revenue in Q3 of $2.3 billion, plus or minus $125 million. Analysts polled by Capital IQ expect $2.46 billion. Shares of the company fell 5.1% in after-hours activity.

KLA Fiscal Q2 Non-GAAP Earnings, Revenue Decline Read Post »

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