Adobe Systems May See Solid Growth, Moderate Upside to Estimates in Fiscal Q1, Oppenheimer Says

/ / Technology /

Adobe Systems (ADBE) is expected to report solid growth and a moderate upside to estimates in fiscal Q1, Oppenheimer said in a note to clients Thursday. The investment firm reiterated Adobe’s outperform rating, with a price target of $660. Adobe will report its fiscal Q1 results on March 14. Oppenheimer estimates revenue of $5.12 billion and pro-forma earnings of $4.37 per share. Analysts surveyed by Capital IQ expect revenue of $5.14 billion and normalized EPS of $4.38. “Our research mosaic points to modest upside to estimates, a stable operating environment, and consistent trends and momentum for Adobe’s business,” Oppenheimer analysts said. Adobe’s net new digital media annual recurring revenue is also expected to show a 7% beat to the fiscal Q1 guidance, according to the note. Rising concerns over competition due to strong product demonstrations by competitors in generative AI imaging and video generation should gradually ease for Adobe as […]

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UnitedHealth’s Stock Can Soar 40% as Antitrust Concerns Are Overblown, BofA Says

/ / Health Care /

By Tomi Kilgore Justice Department antitrust probe and recent cyberattack were bad news for UnitedHealth – but not as bad as stock’s selloff suggests, analyst says Shares of UnitedHealth Group Inc. rallied Thursday after a ringing endorsement from BofA Securities analyst Kevin Fischbeck, who said investor concerns about an antitrust investigation and a recent cyberattack are way overblown. Fischbeck reiterated his buy rating on the health insurer’s stock (UNH), which he said is now his “top pick.” His $675 price target – which makes Fischbeck the most bullish of the 28 analysts surveyed by FactSet who cover UnitedHealth – implies roughly 41% upside from current levels. The stock rose 0.9% in afternoon trading, after closing Wednesday at its lowest price since July 13, 2023. The bounce comes after UnitedHealth shares tumbled 10.4% amid an eight-session losing streak, which was their longest such streak since an eight-day stretch that ended March

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CFRA Keeps Hold Opinion On Shares Of Exxon Mobil Corporation

/ / Energy /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Per the Wall Street Journal, XOM has filed for arbitration to retain what it believes is a right of first refusal (ROFR) over the 30% stake in oil and gas development in Guyana held by Hess Corporation (HES 145 ***). XOM is citing the ROFR in response to HES’s agreement to be acquired by rival Chevron Corp. (CVX 150 ***), which was announced in 2023. We believe the Court will have to determine whether the way in which the merger was structured, and the way in which the joint operating agreement (JOA) in the Guyana development between the key parties was written, entitle XOM to invoke the ROFR or not. Given that the terms of the JOA have not been publicly disclosed, we do not have an

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MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results

/ / Technology /

MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results PR Newswire NEW YORK, March 7, 2024 Fourth Quarter Fiscal 2024 Total Revenue of $458.0 million, up 27% Year-over-Year Full Year Fiscal 2024 Total Revenue of $1.68 billion, up 31% Year-over-Year Continued Strong Customer Growth with Over 47,800 Customers as of January 31, 2024 MongoDB Atlas Revenue up 34% Year-over-Year; 68% of Total Q4 Revenue NEW YORK, March 7, 2024 /PRNewswire/ — MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the fourth quarter and fiscal year ended January 31, 2024. “MongoDB finished fiscal 2024 on a strong note, highlighted by 34% Atlas revenue growth and operating margin improvement of nearly five percentage points year-over-year. We continue to see healthy new workload wins as MongoDB’s developer data platform increasingly becomes the standard for modern application development,” said Dev Ittycheria, President and Chief Executive Officer of MongoDB. “As

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DocuSign Announces Fourth Quarter and Fiscal Year 2024 Financial Results

/ / Technology /

DocuSign Announces Fourth Quarter and Fiscal Year 2024 Financial Results PR Newswire SAN FRANCISCO, March 7, 2024 SAN FRANCISCO, March 7, 2024 /PRNewswire/ — DocuSign, Inc. (NASDAQ: DOCU), which offers the world’s #1 e-signature product as part of its industry leading lineup, today announced results for its fourth quarter and fiscal year ended January 31, 2024. “DocuSign ended Fiscal 2024 with momentum in product innovation, customer growth, and financial performance, including more than doubling free cash flow year-over-year,” said Allan Thygesen, CEO of DocuSign. “The agreement management opportunity is massive, and we’re excited to deliver category-defining innovation to our 1.5 million customers in Fiscal 2025 and beyond.” Fourth Quarter Financial Highlights — Total revenue was $712.4 million, an increase of 8% year-over-year. Subscription revenue was $695.7 million, an increase of 8% year-over-year. Professional services and other revenue was $16.7 million, an increase of 5% year-over-year. — Billings were $833.1 million,

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Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results

/ / Technology /

Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results PR Newswire SANTA CLARA, Calif., March 7, 2024 — Q4 Net Revenue: $1.427 billion, grew by 1% year-on-year — Q4 Gross Margin: 46.6% GAAP gross margin; 63.9% non-GAAP gross margin — Q4 Diluted income (loss) per share: $(0.45) GAAP diluted loss per share; $0.46 non-GAAP diluted income per share SANTA CLARA, Calif., March 7, 2024 /PRNewswire/ — Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the fourth fiscal quarter and fiscal year ended February 3, 2024. Net revenue for the fourth quarter of fiscal 2024 was $1.427 billion, above the mid-point of the Company’s guidance provided on November 30, 2023. GAAP net loss for the fourth quarter of fiscal 2024 was $(392.7) million, or $(0.45) per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2024 was

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CFRA Reiterates Buy Opinion On Shares Of Netflix, 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: We raise our target by $40 to $650 using a forward TEV/EBITDA of 29.7x, below the three-year historic average at 32.0x. We keep our EPS estimate at $17.05 in 2024 and $20.60 in 2025, both near consensus. On valuation, we are comfortable with a wider risk premium given NFLX is widening its lead over its competitors, in our opinion, and has new revenue streams (advertising, ad-pay plans, and paid share members) to spur growth. We believe NFLX has a best-in-class technology platform, programming, and global distribution. The company never stops innovating and management is disciplined with a $17B programming and content annual budget. NFLX has a major opportunity as TV viewers shift to streaming from linear networks, while most of its direct competitors have to transition from

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Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion

/ / Technology /

Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion。

Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion Read Post »

Broadcom Inc. Announces First Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend

/ / Technology /

Broadcom Inc. Announces First Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend PR Newswire PALO ALTO, Calif., March 7, 2024 — Revenue of $11,961 million for the first quarter, up 34 percent from the prior year period — Cash from operations of $4,815 million for the first quarter, less capital expenditures of $122 million, resulted in $4,693 million of free cash flow, or 39 percent of revenue — GAAP net income of $1,325 million for the first quarter; Non-GAAP net income of $5,254 million for the first quarter — Adjusted EBITDA of $7,156 million for the first quarter, or 60 percent of revenue — GAAP diluted EPS of $2.84 for the first quarter; Non-GAAP diluted EPS of $10.99 for the first quarter — Quarterly common stock dividend of $5.25 per share — Repurchased and eliminated 7.7 million shares for $8,290 million — Fiscal 2024 annual revenue guidance of approximately

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