Needham analyst maintains Marvell Tech with a Buy
Needham analyst Quinn Bolton maintains Marvell Tech with a Buy and raises the price target from $65 to $95.
Needham analyst maintains Marvell Tech with a Buy Read Post »
Keybanc analyst maintains MongoDB with a Overweight
Keybanc analyst Eric Heath maintains MongoDB with a Overweight and lowers the price target from $543 to $490.
Keybanc analyst maintains MongoDB with a Overweight Read Post »
Evercore ISI Group analyst maintains BlackRock (NYSE:BLK) with a Outperform
Evercore ISI Group analyst Glenn Schorr maintains BlackRock (NYSE:BLK) with a Outperform and raises the price target from $880 to $920.
Evercore ISI Group analyst maintains BlackRock (NYSE:BLK) with a Outperform Read Post »
MongoDB Earnings Outlook Disappoints. These Analysts Say Buy the Dip. — Barrons.com
Karishma Vanjani MongoDB’s stock was down after its earnings release as the data service provider shared a disappointing revenue and profit forecast. Many on Wall Street think it’s time to buy more of the stock. MongoDB, founded in 2007, offers cloud-based database products widely used by developers to create applications. The pandemic accelerated MongoDB’s growth as businesses increasingly moved to the cloud. Shares soared 173% in 2020. This year, the stock is up 0.8%. Late Thursday, the company said for the full fiscal year ending in January 2025, revenue could be between $1.9 billion and $1.93 billion and profits between $2.27 and $2.49 a share, short of the consensus for $2.04 billion in revenue and $3.27 a share in profits. The stock is down 2.6% at $491.26 at 10:05 a.m. It was down 8.6% in premarket trading on Friday. Datadog, another cloud-related stock, had gained 1.1%. The financial impact is
MongoDB Earnings Outlook Disappoints. These Analysts Say Buy the Dip. — Barrons.com Read Post »
Marvell Technology Shares Decline After Morgan Stanley Cuts Price Target, Expects Material Recovery
Marvell Technology (MRVL) cut its projection across consumer, carrier and enterprise networking businesses but even with the surprising April shortfall the company should see a material recovery, Morgan Stanley said in a note Friday. Marvell’s PAM 4 shipments will see a flattish January due to a minor inventory adjustment, according to the note. The company appears to be on solid ground in the cloud custom silicon business but with new Nvidia launches and supply constraints easing, further upside remains uncertain, Morgan Stanley added. “The trajectory of custom silicon projects outside of Google has historically been disrupted by Nvidia’s rapid execution pace,” the firm said. Morgan Stanley said weaker sectors are close to the bottom, which is evident with shipping below-end demand, and “storage has already started to snap back in data center.” The firm said despite the downturn, signs of recovery are emerging in Marvell’s storage and automotive sectors, that
RBC Capital analyst reiterates MongoDB with a Outperform
RBC Capital analyst Rishi Jaluria reiterates MongoDB with a Outperform and maintains $475 price target.
RBC Capital analyst reiterates MongoDB with a Outperform Read Post »
Broadcom’s Earnings Power Seen at $70-$75/Share in Long Term Amid Double-Digit Sales Growth, BofA Says
Broadcom (AVGO) is expected to post double-digit growth in sales in fiscal years 2024 and 2025, giving the company earnings power in the $70 to $75 per share range in the long term, BofA Securities said in a report Friday. The brokerage reiterated its buy rating on the stock as it raised its price target to $1,680 from $1,500, after the company maintained its revenue guidance of around $50 billion for fiscal 2024. BofA expects fiscal 2024 EPS at $46.70, little changed from its previous estimate of $46.72, but it raised its fiscal 2025 EPS estimate to $57.82 from $56.37. “We believe 1H could mark the trough for AVGO’s non-AI semi sales, with semi sales accelerating to double digit growth exiting Q4 and into FY25,” BofA said. “Meanwhile, we think AI sales could secularly grow at a 20-25% [compound annual growth rate] with more contribution from high-speed switches.” BofA said
MongoDB May Surprise ‘If History Is Any Indication,’ RBC Says
MongoDB (MDB) may be conservative with its forward guidance, RBC Capital Markets said Friday, but sees plenty of upside for the database company on growth and margin. MongoDB late Thursday forecast revenue growth in a range of 13% to 15% for its current fiscal year that began Feb. 1. The guidance lagged consensus views of 22% increase, weighing on MongoDB shares during extended hours Thursday and regular trading Friday. However, the company’s Q4 reported revenue topped estimates and may be poised to do it again. “We see plenty of levers to upside on both growth and margins, suggesting a similar level of conservatism baked into guidance as years past,” the investment firm said. RBC maintained its outperform rating for MongoDB with a $475 price target. MongoDB shares were 6% lower in recent trading.
MongoDB May Surprise ‘If History Is Any Indication,’ RBC Says Read Post »
Cantor Fitzgerald analyst C J Muse reiterates Broadcom (NASDAQ:AVGO) with a Overweight
Cantor Fitzgerald analyst C J Muse reiterates Broadcom (NASDAQ:AVGO) with a Overweight and maintains $1600 price target.
Cantor Fitzgerald analyst C J Muse reiterates Broadcom (NASDAQ:AVGO) with a Overweight Read Post »
JMP Securities analyst reiterates DocuSign with a Market Outperform
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’s Concerns About Outlook Despite Strong Q4 Results: Analysts Revise Forecasts
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 »
CFRA Keeps Hold Opinion On Shares Of General Electric Company
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $174, up $34, reflects a 29x multiple applied to our 2025 EPS estimate, in line with GE’s aerospace peers. We lift our 2024 EPS estimate by $0.09 to $4.58 and 2025’s by $0.17 to $5.99. The spinoff of GE’s renewables and power unit, GE Vernova, has now been officially slated for April 2, 2024, and GE will be a pure-play aerospace firm thereafter. We like GE’s prospects as a key supplier to a commercial aerospace industry that has considerable pent-up demand for new planes. However, we do see some risk for GE, notably its reliance on major original equipment manufacturer The Boeing Company (BA 200 **). In our view, BA is facing a bit of a high wire act, trying to iron
CFRA Keeps Hold Opinion On Shares Of General Electric Company Read Post »