CFRA Lowers Rating On Shares Of Asml Holding N.v. To Buy From Strong Buy

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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 raise our target price by $99 to $1,033, 32x our ’25 EPS view, above peers on ASML’s leading competitive position and sizeable backlog (EUR39B) and above its 3-year average (~29x) on accelerating demand for advanced equipment to support AI applications. We raise our ’24 EPS view by EUR0.36 to EUR18.76 and raise ’25’s by EUR0.35 to EUR29.90 as our outlook for the semiconductor industry continues to broadly improve across key memory and logic applications. Our downgrade is valuation-based, as shares are up ~15% since the publishing of our previous note (Jan. 24) and up ~30% year-to-date. We believe shares have risen largely on a better-than-expected backlog position entering ’24, with further support coming from strong peer earnings performance and positive industry commentary. Still, we think much […]

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HP (NYSE:HPQ) Q1 2024 Earnings Conference

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The following is a summary of the HP Inc. (HPQ) Q1 2024 Earnings Call Transcript: Financial Performance: HP reported Q1 2024 revenue of $13.2 billion, a decrease of 4-5% in constant currency, with both Personal Systems and Print revenue seeing a decrease. Despite the revenue decline, HP delivered non-GAAP operating profit of $1.1 billion, an increase of 5%, and non-GAAP diluted net earnings per share increased 11% to $0.81. HP’s gross margin was at 21.9%, an increase due to improved commodity and logistics costs, yet still affected by competitive pricing. HP returned $775 million to shareholders, including $500 million in share repurchases and $275 million in dividends, and plans to continue active share repurchases for the rest of the year. Business Progress: HP has made advancements in key growth areas, including gaming, Orco solutions, and consumer subscriptions, with a company-wide AI strategy being successfully implemented. The company plans continues transitioning

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CFRA Maintains Strong Buy Opinion On Shares Of Salesforce, Inc.

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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 raise our 12-month target to $330 from $300 on a P/E of 29.6x our CY 25 EPS view, within peers but well below historical. We increase our FY 25 (Jan.) EPS to $9.74 from $9.45 and keep FY 26 at $11.14. CRM posts Jan-Q EPS of $2.29 vs. $1.68, beating the $2.27 consensus. Sales rose 11%, near expectations, with subscription and support revenues +12% and professional services -9%. Despite a disappointing FY 24 revenue outlook that implies growth decelerating to 9%, we think CRM is setting the bar low given the lag effect of measured spending on the subscription side, but note bookings are improving. Importantly, EPS/FCF guide was above our view as CRM executes well on operating margins (seen expanding by 200 bps to 32.5%

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Salesforce (NYSE:CRM) Q4 2024 Earnings Conference

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The following is a summary of the Salesforce, Inc. (CRM) Q4 2024 Earnings Call Transcript: Financial Performance: Salesforce reported Q4 revenue of $9.3 billion, an 11% increase year over year, with full fiscal year revenue rising to $34.9 billion. Non-GAAP operating margin for Q4 was 31.4%, a rise of 220 basis points year over year. The company saw a full year non-GAAP operating margin of 30.5%. Operating cash flow for the fiscal year reached a record $10.2 billion. Remaining performance obligation (RPO) for Q4 sat at $56 billion, a 12% increase. The revenue attrition for the quarter was slightly above 8%, consistent with previous quarters. The company has projected a non-GAAP operating margin of 32.5% and GAAP operating margin of 20.4% for fiscal year 2025. Business Progress: There was strong growth seen in the public sector and travel transportation and hospitality sectors. Eight out of the top ten deals in

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CFRA Raises Opinion On Shares Of Snowflake Inc. To Buy From Hold

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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 raise our price target by $8 to $208, using an EV/Sales ratio of 21x our FY 25 (Jan.) sales view, above peers due to SNOW’s growth history but below its 3-year average (~31x) as growth continues decelerating despite AI excitement. We lower our FY 25 sales view to $3.47B from $3.63B and initiate a FY 26 view at $4.55B. SNOW posts Jan-Q sales of $775M (+32% Y/Y) and EPS of $0.35 (+150%), both above consensus, while guiding for softer-than-expected sales in FY 25. We think the guide is conservative, and we see upside from new products like Document AI, with support from its $5.2B backlog (+$1.5B Q/Q) and still-high NRR (131%). In a surprise announcement, Sridhar Ramaswamy (previously SVP of AI) has assumed the CEO role

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Snowflake (NYSE:SNOW) Q4 2024 Earnings Conference

/ / Technology /

The following is a summary of the Snowflake Inc. (SNOW) Q4 2024 Earnings Call Transcript: Financial Performance: Snowflake reported Q4 product revenue of $738 million, a 33% year-over-year growth. 83 customers contribute over $5 million in trailing 12-month product revenue, up from 75 in the previous quarter. Remaining performance obligations grew by 41% year-over-year to $5.2 billion, with approx. 50% expected to be recognized as revenue within the next year. Non-GAAP product margin improved by roughly 300 basis points year-over-year to 78%. Ended the quarter with $4.8 billion in cash, cash equivalents, and long-term investments. Looking ahead to Q1 and full year FY ’25, expects product revenue between $745 million and $750 million, and approximately $3.25 billion, respectively, with Non-GAAP product gross margin at 76%, operating margin at 6% and adjusted free cash flow margin of 29%. Business Progress: Signed its largest deal ever in Q4 – a five-year, $250

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