Morgan Stanley: Lowered Home Depot (NYSE:HD) price target to $340 Maintain overweight rating

Morgan Stanley analyst Simeon Gutman lowered his price target on Home Depot (NYSE:HD) to $340 from $360 and maintained his overweight rating on the stock. Based on the assumptions mentioned on the fourth-quarter call, same-store sales fell 5 percent and EBIT margin was 14 percent, which would reduce fiscal 2023 earnings per share by about 12.5 percent year-over-year to $14.6, about 13 percent below consensus expectations, the analyst said. While Home Depot’s shares were lower with the downward revision of its FY2023 EPS forecast, the analyst added that the guidance did not address the market’s biggest near-term concern, namely a slowdown in the top line for a traditionally cyclical category; So even with a lower than Wall Street consensus expectations, the stock remains at risk.

Morgan Stanley: Lowered Home Depot (NYSE:HD) price target to $340 Maintain overweight rating Read Post »

Deutsche Bank: Palantir Technologies’ (NYSE:PLTR) 2023 guidance is not without risk

Deutsche Bank analyst Brad Zelnick maintains a sell rating on Palantir Technologies (NYSE:PLTR). The analyst believes that given macro factors, the drag on special purpose acquisition company (SPAC) investments, and possible further delays in funding for unfinished U.S. government projects, the midpoint of the company’s guidance for 2023 revenue growth may prove optimistic, but certainly not without risk.

Deutsche Bank: Palantir Technologies’ (NYSE:PLTR) 2023 guidance is not without risk Read Post »

Evercore ISI: Home Depot (NYSE:HD) Outperform Rating with a $340 price target

Evercore ISI analyst Greg Melich removed Home Depot (NYSE:HD) from the “tactical underperform” list. The analyst said the stock fell about 7% after the results, with a guidance range of $280-300, in line with the support seen when the bank launched the bullish. The analyst has an Outperform rating on Home Depot stock with a $340 price target.

Evercore ISI: Home Depot (NYSE:HD) Outperform Rating with a $340 price target Read Post »

Deutsche Bank: Lowered NetApp(NASDAQ:NTAP) target price to $70 from $74

Deutsche Bank lowered its price target on NetApp(NASDAQ:NTAP) to $70 from $74 and maintained its buy rating on the stock. The analyst told investors in a research note that the company’s revenue in the fiscal third quarter was at the low end of guidance due to weak incremental demand from large and ultra-large enterprises, but large spending cuts drove earnings growth. The analyst believes NetApp’s risk/reward is attractive.

Deutsche Bank: Lowered NetApp(NASDAQ:NTAP) target price to $70 from $74 Read Post »

NetApp (NASDAQ:NTAP) Fiscal Q3 2023 Adjusted Earnings, Revenue Drop

NetApp (NASDAQ:NTAP)  reported fiscal Q3 adjusted earnings of $1.37 per share, Analysts polled by Capital IQ forecast $1.31. Revenue for the quarter ended Jan. 27 was $1.53 billion, Analysts surveyed by Capital IQ projected $1.61 billion. For fiscal Q4, the data management company said it expects adjusted EPS of $1.30 to $1.40 on revenue of $1.48 billion to $1.63 billion. Analysts polled by Capital IQ are looking for adjusted EPS of $1.43 and revenue of $1.67 billion. For fiscal 2023, NetApp said that it continues to expect adjusted EPS of $5.30 to $5.50 and that it now expects revenue to be flat. The company previously guided for revenue growth of 2% to 4%.

NetApp (NASDAQ:NTAP) Fiscal Q3 2023 Adjusted Earnings, Revenue Drop Read Post »

NetApp(NASDAQ:NTAP) Q3 2023 net revenues of $1.53 billion,down 5% year-over-year

February 22, 2023 – NetApp(NASDAQ:NTAP) today reported financial results for the third quarter of fiscal year 2023, which ended on January 27, 2023. Reports  Q3 EPS $1.37 Beats $1.31 Estimate, Sales $1.53B Miss $1.61B Estimate. $308 million returned to shareholders in share repurchases and cash dividends in the third quarter. Third quarter of fiscal year 2023 financial results Net revenues: $1.53 billion, compared to $1.61 billion in the third quarter of fiscal year 2022; a year-over-year decrease of 5%, Hybrid Cloud segment revenue: $1.38 billion, compared to $1.50 billion in the third quarter of fiscal year 2022. Public Cloud segment revenue: $150 million, compared to $110 million in the third quarter of fiscal year 2022. NetApp Public Cloud annualized revenue run rate (ARR) $605 million, compared to $469 million in the third quarter of fiscal year 2022; a year-over-year increase of 29%. Net income: GAAP net income of $65 million, compared

NetApp(NASDAQ:NTAP) Q3 2023 net revenues of $1.53 billion,down 5% year-over-year Read Post »