HSBC analyst Frank Lee maintains NVIDIA (NASDAQ:NVDA) with a Buy and raises the price target from $835 to $880.
HSBC raises NVIDIA (NASDAQ:NVDA) price target from $835 to $880 Read Post »
By Emily Dattilo DoorDash stock has slipped since the food-delivery company reported earnings earlier this month, and Morgan Stanley thinks it’s time to buy. Analysts led by Brian Nowak upgraded the stock to Overweight from Equal Weight and raised their price target to $145 from $135 in a Thursday report titled “DASHing Growth and Profitability.” After posting mixed fourth-quarter results on Feb. 15, DoorDash shares have fallen 9.2% through Wednesday’s close, according to Dow Jones Market Data, but Morgan Stanley is optimistic. “On growth, the company continues to deliver peer-leading and better than expected consumer spend and gross order value (“GOV”) results across its expanding platform…and we see that continuing,” the analysts wrote. As of the fourth quarter, nearly half of the company’s monthly active users were DashPass subscribers, and subscribers tend to spend more than nonsubscribers, they explained. “We use this growing loyal (and more frequent) subscriber base to
DoorDash’s Stock Slid After Earnings. New Bull Sees a Buying Opportunity. — Barrons.com Read Post »
Analysts say stock could eventually reach $175 When delivery app DoorDash Inc. reported quarterly earnings last week, investors raced to the exits. But Morgan Stanley analysts on Thursday said to buy the dip, arguing that the company’s restaurant, grocery and non-grocery delivery business still had plenty of room to grow. Analysts there upgraded the stock to overweight, their most positive rating, from equal-weight, and raised their price target to $145 from $135. And they said the stock could get to $175 if their profit expectations play out better than planned over the next few years. Shares of DoorDash (DASH) were up 5% on Thursday. “We see DASH’s core product addressing ($2.6 trillion) of offline spend across its U.S. restaurant, international restaurant and U.S. grocery / new vertical businesses,” Morgan Stanley said in a research note. “While not our base case, as a bull case, DASH’s emerging non-grocery retail business (delivering
DoorDash’s Stock Took a Hit After Earnings. Morgan Stanley Says Not to Worry. Read Post »
Oppenheimer analyst Rick Schafer reiterated an Outperform rating on Analog Devices, Inc (NASDAQ:ADI) with a price target of $215. The company reported mixed results Wednesday. The first-quarter print was in line, while the second-quarter sales and EPS outlook missed 11% and 19%, respectively. This “expected” cut is ADI’s fourth consecutive cut this correction, the analyst flagged. Hybrid manufacturing supports a normalized gross margin of ~75%. ADI’s product diversification and core position in auto/industrial remain intact, Schafer noted. ADI trades 26x Schafer’s calendar year 2025 EPS vs. analog peer Texas Instruments Inc’s (NASDAQ:TXN) 28x. Rolling correction dampens visibility and pace of recovery in the near term, but the analyst noted a better second half. Schafer noted that ADI’s margin/growth profile, FCF return, and proven execution support a multiple in line with TXN. He sees long-term growth led by auto/ industrial and remains a long-term buyer. Bolton projects second-quarter revenue and EPS of $2.10 billion and $1.39
Intuit Reports Strong Second Quarter Results and Reiterates Full Year Guidance Small Business and Self-Employed Group Revenue Grew 18 Percent MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–February 22, 2024– Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, announced financial results for the second quarter of fiscal 2024, which ended January 31. “We had another strong quarter as consumers and small businesses continue to rely on Intuit’s platform to power their prosperity,” said Sasan Goodarzi, Intuit’s chief executive officer. “We have great momentum innovating across our products, and we’re well on our way to becoming the trusted assistant that our customers use to fuel their financial success.” Financial Highlights For the second quarter, Intuit: — Grew total revenue to $3.4 billion, up 11 percent. — Increased Small Business and Self-Employed Group revenue to $2.2 billion, up 18 percent; grew Online Ecosystem revenue to $1.7
Intuit Reports Strong Second Quarter Results and Reiterates Full Year Guidance Read Post »
By Denny Jacob Intuit posted higher revenue in its latest quarter as key segments propelled the growth. The tax-preparation-software maker logged net income of $353 million, or $1.25 a share, for the second quarter ended Jan. 31, up from $168 million, or 60 cents a share, a year earlier. Adjusted earnings were $2.63 a share, above analysts’ estimates of $2.30 a share. Revenue grew 11%, to $3.39 billion, matching expectations of analysts’ polled by FactSet. Among Intuit’s segments, Consumer Group revenue declined 5% from a year earlier due to the later Internal Revenue Service opening this year, the company said. Credit Karma revenue was flat compared to the prior-year period, a positive sign after the unit has reported multiple consecutive quarters of declining revenue prior to the latest results. Its Small Business and Self-Employed Group surged 18% from the prior year, while ProTax Group revenue climbed 8% during the same
Intuit 2Q Revenue Rises as Segments’ Performance Spurs Growth Read Post »
INTUIT Posts Q2 EPS $2.63, vs. Street Est of $2.31。
INTUIT Posts Q2 EPS $2.63, vs. Street Est of $2.31 Read Post »
Intuit Sees Q3 Adj. EPS $9.31-$9.38 Vs $9.69 Est., Revenue Growth 10-11%。
Intuit Sees Q3 Adj. EPS $9.31-$9.38 Vs $9.69 Est., Revenue Growth 10-11% Read Post »
Intuit Reiterates FY 2024 Guidance of $16.17-$16.47 in EPS on Revenue of $15.89-$16.105 Billion, Vs CIQ Analyst Consensus of $16.39/Share on Revenue of $16.05 Billion。
By Jon Swartz Intuit Inc.’s stock dipped 3% in after-hours trading Thursday despite the company posting quarterly revenue that met analysts’ estimates and earnings that surpassed them. “It was an excellent quarter despite the IRS shifting its [tax-filing] season later by one week,” Intuit (INTU) Chief Executive Sasan Goodarzi said in an interview. “We overperformed in what is typically our biggest quarter of the year.” Part of Intuit’s strategy this tax season is closely tied to artificial intelligence and to how its products Credit Karma, TurboTax Live and Intuit Assist use the technology to empower customers, Goodarzi said. “The next leg of growth is [generative] AI,” he said. The maker of tax-preparation software reported fiscal second-quarter net income of $353 million, or $1.25 a share, compared with net income of $168 million, or 60 cents a share, in the same quarter a year ago. Adjusted earnings were $2.63 a share.
Intuit’s Stock Dips Despite Big Earnings Beat, Revenue in Line With Analyst Estimates Read Post »
By Eric J. Savitz Intuit posted better-than-expected profits for its fiscal second quarter ended Jan. 31, as the U.S. moves into tax season, always the most important part of the company’s year. The parent of TurboTax, Credit Karma, QuickBooks and Mailchip posted revenue for the quarter of $3.4 billion, up 11%, and about even with Street consensus estimates as tracked by FactSet. The company’s guidance had been for growth of 11% to 12%. Adjusted profits were $2.63 a share, well ahead of both the guidance range of $2.25 to $2.31 a share and the Street consensus forecast at $2.30 a share. Under generally accepted accounting principles, the company earned $1.25 a share, above guidance at 62 to 68 cents. CEO Sasan Goodarzi said in an interview with Barron’s that the better-than-expected profitability reflected both “strong topline” performance and improving margins, rather than any specific unusual factors. Revenue in Intuit’s “small
Intuit Profits Top Estimates. Tax Season Is Starting Slow. — Barrons.com Read Post »
Intuit (INTU) reported fiscal Q2 non-GAAP earnings late Thursday of $2.63 per diluted share, up from $2.20 a year earlier. Analysts polled by Capital IQ expected $2.31. Total net revenue in the quarter ended Jan. 31 rose to $3.39 billion from $3.04 billion a year earlier. Analysts surveyed by Capital IQ expected $3.39 billion. In fiscal Q3, the company expects non-GAAP diluted EPS of $9.31 to $9.38. Analysts polled by Capital IQ expect $9.70. Revenue in the quarter ending April 30 is expected to increase 10% to 11%. In fiscal 2024, Intuit said it continues to expect non-GAAP diluted EPS of $16.17 to $16.47 on revenue of $15.89 billion to $16.11 billion. Analysts polled by Capital IQ expect normalized EPS of $16.39 on revenue of $16.05 billion. The company maintained its quarterly dividend at $0.90 a share, payable April 18 to shareholders of record April 10.