Rosenblatt analyst Hans Mosesmann maintains ARM Holdings (NASDAQ:ARM) with a Buy and raises the price target from $140 to $180.
Rosenblatt raises ARM Holdings (NASDAQ:ARM) price target from $140 to $180 Read Post »
ServiceNow to Acquire Atrinet NetACE Network Technology to Accelerate Business Transformation for Telcos Acquisition to enable end-to-end network lifecycle management for telecommunications companies on a single, AI-first platform BARCELONA, Spain–(BUSINESS WIRE)–February 25, 2024– Mobile World Congress — ServiceNow (NYSE: NOW), the leading digital workflow company making the world work better for everyone, today announced it has signed an agreement to acquire NetACE(TM) network management and automation technology from Atrinet to accelerate business transformation for telecommunications companies (telcos). Once re-platformed into the ServiceNow platform, Atrinet’s NetACE technology will enable comprehensive, end-to-end network lifecycle management for telcos on a single, AI-first digital workflow platform. Telcos often lack the tools and technology needed to drive efficiency in managing their network, and frequently rely on manual processes. The addition of Atrinet’s NetACE network discovery and activation capabilities to the Now platform will address these challenges by delivering stronger connectivity for telcos’ workflows and greater
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 target price to $715 from $612, on a P/E of 42x our NTM estimate of $17.03, above its three-year average. We raise our FY 24 forecast to $16.43 from $16.32 and up our FY 25 EPS view to $18.86 from $18.66. INTU posted Q2 revenue of $3.39B, in line with consensus, while non-GAAP EPS of $2.63 beat by $0.32. Strength in Small Business and Self-employed (+18.3% Y/Y) was driven by momentum in its Online Ecosystem of products (+21.4% Y/Y), offset slightly by Desktop Ecosystem (+10.1% Y/Y). Quickbooks Desktop Enterprise continues to grow at a strong pace (mid-teens in Q2), but capability enhancements on its online platform over time should encourage more migrations as the company nears the end of its three-year transition plan. Consumer
CFRA Maintains Buy Recommendation On Shares Of Intuit Inc. Read Post »
Intuit’s (INTU) fiscal Q2 exceeded expectations, with the small business segment being the primary upside driver, Oppenheimer said in a note Friday. The firm raised Intuit’s price target to $712 from $678 while keeping its outperform rating. Analysts, including Scott Schneeberger, said Intuit’s consumer segment, mainly TurboTax, faced challenges in the recent quarter due to a later start to the tax season compared to the previous year, while Credit Karma performed as expected. The company is sticking to its guidance for the fiscal year, with the revenue growth expectations for each segment unchanged, and the small business segment appearing to be more “conservative,” the analysts added. “Although fiscal 2024 TurboTax and Credit Karma revenue are cautiously guided below their long-term growth trends, we anticipate Intuit overall organic growth, driven by Small Business, to remain double-digits in fiscal 2024 and beyond,” the analysts said, adding that they expect “continued gradual margin
Salesforce (CRM) could see incremental growth levers emerging in its new bundling strategy and generative AI product cycle amid macro headwinds, RBC Capital Markets said in a note. “We view an initial FY25 growth guide of 10% as the most likely scenario, at least until there is more visibility into tangible benefits from the aforementioned growth levers or a better macro,” said RBC analysts, including Rishi Jaluria. Following its quarterly checks, RBC said the majority of Salesforce contracts up for renewal seemed to be taking the 9% price increase, while an increase in deal volumes appeared to be counterbalanced by a decrease in large-sized deals. It also said that Einstein GPT was being adopted but it was still in the trial phase. The company will release its fiscal Q4 results on Feb. 28.
Salesforce Likely to Benefit From Bundling Strategy, Generative AI in Q4, RBC Says Read Post »
Dell Technologies (DELL) is expected to see continued momentum in its server business and further growth in orders in its fiscal fourth quarter, with artificial intelligence servers and AI-enabled personal computers likely to drive growth in the medium term, BofA Securities said. The computer maker is scheduled to report its fourth-quarter financial results Thursday. BofA projects per-share earnings at $1.73 on revenue of about $22.24 billion. Wall Street is looking for $1.72 and $22.15 billion, respectively, according to the brokerage. In the previous quarter, the company’s pipeline for AI-optimized servers tripled sequentially, Chief Operating Officer Jeff Clarke said in November on a call discussing Dell’s third-quarter results, according to a Capital IQ transcript. Demand was ahead of supply, Clarke told analysts at the time, adding that the company was working to convert its pipeline “into real sales, into orders.” “Given its focus on enterprise (versus) hyperscale, Dell should see strong
Dell Poised for Continued Server Momentum, Order Growth in Fourth Quarter, BofA Says Read Post »
By Daniel Newman The competition is real, and it’s coming for Nvidia’s growth and stock price More competition pressures Nvidia’s pricing, margins and market share. Nvidia Corp.’s (NVDA) earnings results felt like a national holiday of sorts. Countdowns and endless commentary surrounded the biggest moment in the stock market so far this year for what Goldman Sachs is now referring to as the most important stock in the world. On CNBC, Jim Cramer was quick to point out that Nvidia CEO Jensen Huang is a bigger visionary than Tesla’s Elon Musk. Nvidia’s results didn’t disappoint, unless you were short on the stock (R.I.P.). Wall Street analysts’ price-target increases quickly followed. Some of these new targets suggest Nvidia will race to a $2.5 trillion valuation in short order. And why not? The Nvidia bandwagon is packed and everyone is jumping on it. It’s fun to be right and more fun to
Nvidia Is the ‘Magnificent One’ Now – but These Rivals Are Closing in Read Post »
The following is a summary of the Intuit Inc. (INTU) Q2 2024 Earnings Call Transcript: Financial Performance: Intuit reported Q2 revenue of $3.4 billion, growing 11%, with GAAP operating income of $369 million, an increase of 37%. Non-GAAP operating income grew by 17% to reach $1 billion. Small Business and Self-Employed Group revenue increased 18% during the quarter; online ecosystem revenue saw a growth of 21%. The company reported GAAP diluted earnings per share of $1.25, and non-GAAP diluted earnings per share of $2.63, a 20% increase. The company repurchased $536 million of stock during the second quarter and approved a quarterly dividend of $0.90 per share. Business Progress: The company is working on Intuit Assist, an AI and machine learning technology aimed at automating financial management and tax filing. The integration of MailChimp with QuickBooks and TurboTax with Credit Karma is part of the company’s marketing strategy to increase
Intuit Inc. (NASDAQ:INTU) Q2 2024 Earnings Conference Read Post »
Piper Sandler analyst Arvind Ramnani maintains Intuit (NASDAQ:INTU) with a Overweight and raises the price target from $642 to $750.
Piper Sandler raises Intuit (NASDAQ:INTU) price target from $642 to $750 Read Post »
UBS analyst Arcuri lowered his target price on Nvidia to $800 from $850 in the wake of the earnings, citing a potential slowing of revenue growth, although he kept a Buy rating on the stock. Arcuri said his new target price was based on a price-to-earnings multiple of 25 times the UBS forecast for Nvidia’s earnings in calendar year 2025. “We were somewhat surprised that total supply… was actually down a touch Q/Q [quarter-on-quarter] and our analysis on the surface begs the conclusion that Nvidia may be approaching some sort of “steady state” in revenue over the coming quarters,” Arcuri wrote in a research note on Thursday. With no additional increases in supply, Arcuri estimated that Nvidia can support revenue of around $27 billion a quarter, compared with $22.1 billion for the quarter ended January.
UBS lowered Nvidia target price to $800 from $850 Read Post »
Nvidia is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The company on Wednesday reported fiscal fourth-quarter revenue of $22.1 billion, up from $6.05 billion a year before and above analyst expectations of $20.4 billion. Data-center revenue surged more than 400% from a year before to hit $18.4 billion. Net income was $12.3 billion, or $4.93 a share, compared with $1.4 billion, or 57 cents a share, a year ago. Nvidia also forecast around $24 billion of sales for the first fiscal quarter, above analysts’ consensus of $22.2 billion. Shares are up 13% in recent trading. Dow Jones & Co. owns Factiva.
Nvidia Delivers Better-Than-Expected 4Q Results, 1Q Revenue Outlook Read Post »
UBS analyst Karl Keirstead maintains Snowflake (NYSE:SNOW) with a Neutral and raises the price target from $185 to $225.
UBS raises Snowflake (NYSE:SNOW) price target from $185 to $225 Read Post »