CFRA Maintains Buy Opinion On Shares Of Nvidia Corporation

/ / 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 lift our 12-month target to $840 from $700, on P/E of 30x our CY 25 EPS view, above peers/ below historical. We up our FY 25 (Jan.) EPS estimate to $23.40 from $20.58 and FY 26 to $28.00 from $23.76. NVDA posts Jan-Q EPS of $5.16 vs. $0.88, beating the $4.64 consensus. Sales rose 265%, above our view, led by data centers (+409%; 83% of sales) as compute revenue grew over 5x and networking tripled (+$13B annual run rate). While supply is improving, we do expect constraints as next gen products ramp (H200 in Apr-Q and Blackwell by year-end) given elevated demand. China sales fell significantly but we think it helps de-risk NVDA’s revenue (mid-single % of data centers vs. 20%-25% historically). We see a slew […]

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CFRA Maintains Buy Recommendation On Shares Of Synopsys, 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 price target by $46 to $624, 39x our FY 25 (Oct.) EPS view, near peers and above SNPS’s 3-year historical average (~33x), given accelerating design complexity and AI momentum, as well as our positive view of the potential ANSYS acquisition. We raise our FY 24 EPS view by $0.15 to $13.60 and raise FY 25’s by $0.06 to $16.00. SNPS prints Jan-Q sales of $1.65B (+21% Y/Y) and EPS of $3.56 (+36%), both above consensus, while increasing its FY 24 EPS guide. Despite the rise, we think its outlook may include an overly cautious view on China (15% of Jan-Q sales vs. 12% in the prior Q). Design IP was particularly strong (sales +53% Y/Y to $526M), and we think SNPS’s industry-leading IP portfolio

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DoorDash (NASDAQ:DASH) Stock Analyst Ratings

/ / Technology /

DoorDash (NASDAQ:DASH) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/22/2024 21.32% Morgan Stanley $135 → $145 Upgrades Equal-Weight → Overweight 02/20/2024 2.07% Goldman Sachs $109 → $122 Maintains Neutral 02/20/2024 12.95% Susquehanna $110 → $135 Maintains Positive 02/16/2024 -16.33% Wells Fargo $105 → $100 Maintains Equal-Weight 02/16/2024 27.18% Mizuho $140 → $152 Maintains Buy 02/16/2024 8.77% JMP Securities → $130 Reiterates Market Outperform → Market Outperform 02/16/2024 -1.27% UBS $123 → $118 Maintains Neutral 02/16/2024 2.07% Goldman Sachs $109 → $122 Maintains Neutral 02/16/2024 8.77% RBC Capital $105 → $130 Maintains Sector Perform 02/16/2024 15.46% BMO Capital $120 → $138 Maintains Outperform 02/16/2024 -3.78% Wedbush $92 → $115 Maintains Neutral 02/16/2024 17.14% Oppenheimer $110 → $140 Maintains Outperform 02/16/2024 17.14% Truist Securities $130 → $140 Maintains Buy 02/06/2024 8.77% JMP Securities $113 → $130 Maintains Market Outperform 02/06/2024 11.28% Needham →

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Nvidia Fiscal Q4 Non-GAAP Earnings, Revenue Jump

/ / Technology /

Nvidia (NVDA) reported fiscal Q4 non-GAAP earnings late Wednesday of $5.16 per diluted share, up from $0.88 a year earlier. Analysts surveyed by Capital IQ expected $4.64. Revenue in the quarter ended Jan. 28 surged to a record $22.1 billion from $6.05 billion a year earlier. Analysts surveyed by Capital IQ expected $20.6 billion. The company said it expects fiscal Q1 revenue of $24 billion, plus or minus 2%. Analysts surveyed by Capital IQ expect $22.03 billion. Shares of the company surged 14% in recent Thursday premarket activity.

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Synopsys Raises Fiscal 2024 Earnings Guidance Following First-Quarter Beat

/ / Technology /

Synopsys’ (SNPS) shares were trending higher early Thursday after the software company lifted its fiscal full-year 2024 earnings outlook on the back of better-than-expected first-quarter results. Per-share adjusted earnings are now set to come in between $13.47 and $13.55 for the fiscal year ending Oct. 31, the company said late Wednesday, up from its previous projections of $13.33 to $13.41. The consensus on Capital IQ is for normalized EPS of $13.46. The stock gained 4.7% in premarket trading. The firm reiterated its full-year revenue guidance range of $6.57 billion to $6.63 billion, while the Street is looking for $6.62 billion. The company also continues to see its adjusted operating margin improving by roughly two percentage points, Chief Financial Officer Shelagh Glaser said on an earnings call, according to a Capital IQ transcript. “We delivered a solid start to the year with revenue in the upper end of our guided range,”

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CrowdStrike Holdings (NASDAQ:CRWD) Stock Analyst Ratings

/ / Technology /

CrowdStrike Holdings (NASDAQ:CRWD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/21/2024 26.54% Goldman Sachs $222 → $370 Maintains Buy 02/20/2024 19.7% Truist Securities $290 → $350 Maintains Buy 02/20/2024 28.25% Rosenblatt $315 → $375 Maintains Buy 02/14/2024 28.25% Keybanc $318 → $375 Maintains Overweight 02/13/2024 23.12% Cantor Fitzgerald → $360 Reiterates Overweight → Overweight 02/12/2024 23.12% Cantor Fitzgerald $240 → $360 Maintains Overweight 02/02/2024 -17.92% Cantor Fitzgerald → $240 Reiterates Overweight → Overweight 01/31/2024 12.86% JMP Securities → $330 Reiterates Market Outperform → Market Outperform 01/30/2024 12.86% Raymond James → $330 Initiates Coverage On → Outperform 01/29/2024 12.86% JMP Securities $235 → $330 Maintains Market Outperform 01/18/2024 8.75% Keybanc $245 → $318 Maintains Overweight 01/17/2024 — WestPark Capital Downgrades Buy → Hold 01/16/2024 -0.82% Truist Securities $230 → $290 Maintains Buy 01/12/2024 -17.92% Cantor Fitzgerald → $240 Reiterates Overweight → Overweight

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Walmart’s ‘Strong Momentum’ Seen Continuing Into Fiscal 2025, BofA Says

/ / Consumer Discretionary /

Walmart’s (WMT) “strong momentum” is expected to continue into fiscal 2025 following its better-than-projected fiscal Q4 results, BofA Securities said. On Tuesday, the retail giant reported fiscal Q4 adjusted earnings of $1.80 per share on sales of $171.91 billion, both topping market expectations. “While we see continued softness in discretionary, we see support for general [merchandise] share gains to continue from initiatives [including] store remodels, online SKU expansion and strong pickup/delivery execution,” BofA analyst Robert Ohmes said in a note e-mailed Wednesday. BofA projects Walmart’s fiscal Q1 adjusted EPS at $1.53 and full-year adjusted EPS at $7, according to the note. The BofA analysts increased their price objective on the retailer’s stock to $200 from $190 while reiterating their buy rating.

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Home Depot’s Investments, Share Gains Likely to Counter Choppy Macro Outlook, BofA Says

/ / Consumer Discretionary /

Home Depot’s (HD) strategic investments will likely back above-market growth, while the retailer is also well placed for continued share gains even amid macroeconomic softness, BofA Securities said Wednesday in a report. BofA kept its buy rating on Home Depot and raised the price target on the stock to $400 from $372. The company reported fiscal Q4 earnings Tuesday of $2.82 per diluted share, down from $3.30 a year earlier. Analysts polled by Capital IQ expected $2.78. Net sales fell to $34.8 billion from $35.8 billion. Analysts expected $34.7 billion. The retailer’s operating margin fell 135 basis points to 11.9% from a year earlier, compared with consensus forecasts of 11.8%, BofA said. That reflects a “pull forward of pricing actions ahead of cost decreases, and a 115 bps increase in opex as a percentage of sales reflecting sales deleverage and 2023 labor investments,” according to the report. BofA said it

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Dell Faces ‘Tricky’ Earnings Setup Amid Subdued Near-Term Hardware Spending, Morgan Stanley Says

/ / Technology /

Dell Technologies (DELL) likely faces a “tricky” earnings setup amid subdued near-term hardware spending, which could prompt the computer maker to guide April-quarter financial results below market consensus, Morgan Stanley said Wednesday. Dell is scheduled to report fiscal Q4 results Feb. 29. Morgan Stanley projects adjusted earnings at $1.73 per share on revenue of $21.82 billion. The company’s forward-looking outlook and artificial intelligence server backlog could see “some downside risk” in next week’s report, Morgan Stanley said in a note. “This creates a tricky earnings setup, but we’re ultimately buyers on any post-earning weakness,” the brokerage said. “Eventual S&P 500 inclusion, new/notable AI server wins, and a return to PC market growth represent key stock catalysts we see over the 12 months.” Morgan Stanley raised its price target on the Dell stock to $100 from $89 while reiterating its overweight rating, according to the note.

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CFRA Keeps Buy Opinion On Shares Of Amazon.com, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AMZN will replace WBA in the Dow Jones Industrial Average (DJIA) effective February 26, 2024. The index change was prompted by WMT’s decision to split its stock 3:1, which will reduce WMT’s index weight due to the price-weighted construction of the DJIA. By replacing WBA, the DJIA will increase its exposure to consumer retail, advertising, and cloud computing. AMZN will join MSFT and AAPL as the other Magnificent 7 stocks in the index, which together will comprise about 13% of the DJIA. By weighting, AMZN will rank 17th in the index, while MSFT is 2nd and AAPL is 15th. Our opinion on AMZN shares is Buy, as we believe 2024 will mark the second consecutive year of margin expansion and free cash flow growth, driven by additional

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Salesforce Likely to Have Mixed Trends in Fiscal Q4, Oppenheimer Says

/ / Technology /

Salesforce (CRM) will likely have mixed business trends in fiscal Q4 results, but with durable margin improvement and earnings per share growth, Oppenheimer said in a note Wednesday. Salesforce will report its Q4 results next Wednesday. Oppenheimer estimates revenue of $9.22 billion and pro forma EPS of $2.26. The investment firm’s data “around demand and pipeline momentum were mixed for [Salesforce’s] business” in the quarter, according to the note. Salesforce’s operating environment appears mostly the same as Q3 despite improved seasonality, “while the investor expectations and estimate risk appears low,” Oppenheimer said. The company is also likely to sustain double-digit revenue growth in fiscal year 2025, driven by factors including increased multiproduct penetration, pricing and AI adoption. The investment firm reiterated its outperform rating and $325 price target for Salesforce.

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