Stifel Reports January 2024 Operating Data：Client Assets Under Administration And Fee-Based Assets Increased 1% From The Prior Month

/ / Financials /

Stifel Financial Corp. (NYSE:SF) today reported selected operating results for January 31, 2024 in an effort to provide timely information to investors on certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed. Ronald J. Kruszewski, Chairman and Chief Executive Officer, said, “Client assets under administration and fee-based assets increased 1% from the prior month and reached record levels of $447 billion and $167 billion, respectively, as we continue to benefit from strong equity markets and solid recruiting pipelines. Client money market and insured products declined by 1% from year-end levels as the expected seasonal decline in sweep deposits was partially offset by the increase in Smart Rate balances. Overall client cash, inclusive of money market funds and short-term treasuries, was essentially flat in January compared to the prior month.” Selected Operating Data (Unaudited) As of % Change (millions) 1/31/2024 […]

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Intuit Fiscal Third-Quarter Earnings Outlook Misses Views Following Second-Quarter Beat

/ / Technology /

Intuit (INTU) late Thursday reported stronger-than-expected fiscal second-quarter earnings, while the financial technology platform’s bottom-line guidance for the current quarter trailed Wall Street’s estimates. Adjusted per-share earnings jumped to $2.63 during the three months ended Jan. 31 from $2.20 a year earlier, topping the consensus compiled by Capital IQ of $2.31. Revenue increased 11% to $3.39 billion, in line with the Street’s view. “We had another strong quarter as consumers and small businesses continue to rely on Intuit’s platform to power their prosperity,” Chief Executive Sasan Goodarzi said in a statement. Small business and self-employed group revenue advanced 18% year over year to $2.2 billion, led by a 19% rise in QuickBooks online accounting sales that came on the back of customer growth and higher prices, Intuit said. Credit Karma’s revenue was flat at $375 million as growth in money, credit cards and auto loans was offset by declines in

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Nvidia Corp. (NASDAQ:NVDA) Q4 2024 Earnings Conference

/ / Technology /

The following is a summary of the NVIDIA Corporation (NVDA) Q4 2024 Earnings Call Transcript: Financial Performance: NVIDIA reported Q4 revenue of $22.1 billion, a 22% sequential and 265% YoY increase. Fiscal 2024 total revenue was $60.9 billion, up 126% YoY. Data center revenue for fiscal 2024 was $47.5 billion, tripling YoY. Q4 data center revenue was a record $18.4 billion, up 27% sequentially and 409% YoY. Q4 gaming revenue was $2.87 billion, flat sequentially but up 56% YoY. Q4 gross margins expanded to 76% for GAAP and 76.7% for non-GAAP. Business Progress: NVIDIA is moving from general-purpose to accelerated computing in data center infrastructure. The new Hopper GPU computing platform and Infiniband end-to-end networking drove Q4 data center growth. NVIDIA’s AI Tensor cores and GPUs deliver up to 836 AI tops, fuelling generative AI applications. NVIDIA’s GeForce RTX 40 Super Series GPUs launched at CES are showing strong potential.

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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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