Futures muted, Palo Alto Networks' billings forecast - what's moving markets
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- Wall Street ends lower on semiconductor selloff as AI spending concerns mount
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- Chip stocks plunge, but bargain-hunters limit scale of tech rout
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HSBC Reiterates Buy Rating on NVIDIA (NVDA)
May 23, 2024 6:09 AM EDTHSBC analyst Frank Lee reiterated a Buy rating and $1,350.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "NVIDIA's 1Q25 (Jan YE) sales of USD26bn beat consensus of USD24.7bn but were in-line with our estimate of USD26bn, along with... More
NVIDIA (NVDA) PT Raised to $1,250 at Wolfe Research
May 23, 2024 5:29 AM EDTWolfe Research analyst Chris Caso raised the price target on NVIDIA (NASDAQ: NVDA) to $1,250.00 (from $1,200.00) while maintaining a Outperform rating.
The analyst comments "NVDAs report came in as we had expected, a strong report with ~5% upside to JulQ revenue guidance vs.... More
NVIDIA (NVDA) PT Raised to $1,320 at BofA Securities
May 23, 2024 5:20 AM EDTBofA Securities analyst Vivek Arya raised the price target on NVIDIA (NASDAQ: NVDA) to $1,320.00 (from $1,100.00) while maintaining a Buy rating.
The analyst comments "Reiterate Buy, top sector pick on NVDAs unparalleled combination of: 1) turnkey system design that we think can sustain 80%+... More
NVIDIA (NVDA) PT Raised to $1,000 at Deutsche Bank
May 23, 2024 5:12 AM EDTDeutsche Bank analyst Ross Seymore raised the price target on NVIDIA (NASDAQ: NVDA) to $1,000.00 (from $850.00) while maintaining a Hold rating.
The analyst comments "One year after one of the most stunning beats/raises in market history, NVDA delivered another now-trademark multi-billion... More
NVIDIA (NVDA) PT Raised to $900 at DA Davidson
May 23, 2024 5:10 AM EDTDA Davidson analyst Gil Luria raised the price target on NVIDIA (NASDAQ: NVDA) to $900.00 (from $620.00) while maintaining a Neutral rating.
The analyst comments "NVIDIA reported strong 1Q25 earnings exceeding expectations across the board. We continue to believe that this year NVIDIA will... More
Market Intelligence Analyst Adam Crisafulli of Vital Knowledge Reacts to NVIDIA (NVDA) Earnings: 'dividend is so low it’s a wonder why they pay one at all'
May 22, 2024 4:58 PM EDTRespected Analyst Adam Crisafulli of Vital Knowledge Reacts to NVIDIA (NASDAQ: NVDA) Earnings.
The analyst comments "NVDA (Nvidia) reported upside in FQ1, including sales +262% Y/Y to $26B (vs. the Street $24.69B) and EPS +461% Y/Y to 6.12 (vs. the Street 5.65). The critical Data Center unit saw sales surge 427% Y/Y to $22.6B (about $1.5B above the Streets $21.1B forecast). Within Data Center, Compute spiked 478% to $19.39B while Networking rose 242% to $3.1B. Strong sequential Data Center growth was driven by all customer types, led by Enterprise and Consumer Internet companies. Large cloud... More
Citi Out First to Recap NVIDIA (NVDA) Earnings
May 22, 2024 4:51 PM EDTCiti analyst Atif Malik reiterated a Buy rating and $1,030.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "Fundamentals: NVDA reported Apr-Q revs/non-GAAP EPS (ex-SBC) of $26B/$6.12 vs. our $24B/$5.39 and Streets (FactSet) $24.6B/$5.60 and guided Jul-Q revenue to $28B (at MP) vs. our $27.5B and Streets $26.6B. Higher Hopper GPU... More
AutoZone (AZO) PT Lowered to $3,110 at JPMorgan
May 22, 2024 7:53 AM EDTJPMorgan analyst Christopher Horvers lowered the price target on AutoZone (NYSE: AZO) to $3,110.00 (from $3,200.00) while maintaining a Overweight rating.
The analyst comments "...category slowdown reflects ongoing softness in the low end consumer and deferral; we expect improvement from here; bears think 8% lower. Overall, AZO posted its fifth consecutive quarter of sub-par domestic comps as pricing continues to bottom and pressures on the low end and... More
Loop Capital Reiterates Hold Rating on Lowe's (LOW)
May 22, 2024 7:11 AM EDTLoop Capital analyst Laura Champine reiterated a Hold rating and $230.00 price target on Lowe's (NYSE: LOW).
The analyst comments "We are reiterating our Hold rating for LOW following a quarterly report which was basically in line with our estimate but beat... More
Lowe's (LOW) PT Lowered to $265 at Truist Securities
May 22, 2024 7:08 AM EDTTruist Securities analyst Scot Ciccarelli lowered the price target on Lowe's (NYSE: LOW) to $265.00 (from $271.00) while maintaining a Buy rating.
The analyst comments "1Q results were slightly above investor expectations, helped by the arrival of Spring weather. Pros posted + comps for the quarter, helping offset... More
AutoZone (AZO) PT Lowered to $3,394 at Truist Securities
May 22, 2024 7:07 AM EDTTruist Securities analyst Scot Ciccarelli lowered the price target on AutoZone (NYSE: AZO) to $3,394.00 (from $3,523.00) while maintaining a Buy rating.
The analyst comments "Domestic comps were below our est. (flat vs. our 1.8%E), but we think the Street was largely braced... More
RBC Capital Reiterates Sector Perform Rating on Lowe's (LOW)
May 22, 2024 6:18 AM EDTRBC Capital analyst Steven Shemesh reiterated a Sector Perform rating and $246.00 price target on Lowe's (NYSE: LOW)
The analyst comments "A 4% 1Q EPS beat was largely offset by 2Q EPS guidance ~4% below consensus, leaving 2024 a back-half improvement story and keeping FY'24 #s... More
AutoZone (AZO) PT Lowered to $3,340 at UBS
May 22, 2024 5:56 AM EDTUBS analyst Michael Lasser lowered the price target on AutoZone (NYSE: AZO) to $3,340.00 (from $3,465.00) while maintaining a Buy rating.
The analyst comments "AZO managed high-single digit earnings growth in a quarter challenged by weather, deflation, delays in tax refunds and ongoing macro... More
UBS Reiterates Buy Rating on Lowe's (LOW)
May 22, 2024 5:51 AM EDTUBS analyst Michael Lasser reiterated a Buy rating and $270.00 price target on Lowe's (NYSE: LOW).
The analyst comments "Overall, Lowes 1Q print was better than expected and should be a positive catalyst for the stock today. Its comp was -4.1%, compared to our forecast of -6% and the consensus of -5.5%. The markets expectation had moved a touch lower following HDs print and was squarely... More
Barclays Reiterates Equalweight Rating on Lowe's (LOW)
May 22, 2024 5:46 AM EDTBarclays analyst Matthew McClintock reiterated an Equalweight rating and $229.00 price target on Lowe's (NYSE: LOW).
The analyst comments "Q1 results were mixed with sales better but still negative, while GM came in slightly below due in part to promotional activity. Not much... More
JPMorgan Reiterates Overweight Rating on Lowe's (LOW)
May 22, 2024 5:43 AM EDTJPMorgan analyst Christopher Horvers reiterated an Overweight rating and $268.00 price target on Lowe's (NYSE: LOW)
The analyst comments "LOW posted a sales-driven 4% EPS beat with comps of -4.1% vs. our -5.5%, the Streets -5.6%, and the down 5.5-6.0% HD lateral, as declines in... More
Wells Fargo Reiterates Overweight Rating on Lowe's (LOW)
May 22, 2024 5:11 AM EDTWells Fargo analyst Zachary Fadem reiterated an Overweight rating and $290.00 price target on Lowe's (NYSE: LOW)
The analyst comments "Cautious Q2 raises eyebrows; Q1 beat adds credibility. We expect LOW's Q2 guide to drive the debate today. We take the side of 'it's... More
AutoZone (AZO) PT Lowered to $3,038 at Morgan Stanley
May 22, 2024 5:09 AM EDTMorgan Stanley analyst Simeon Gutman lowered the price target on AutoZone (NYSE: AZO) to $3,038.00 (from $3,100.00) while maintaining a Overweight rating.
The analyst comments "Our PT is based on a ~18x P/E multiple against our lowered C'25 EPS of ~$168.10. In F'24, we forecast ~1.2%... More
AutoZone (AZO) PT Lowered to $3,000 at Wolfe Research
May 22, 2024 5:06 AM EDTWolfe Research analyst Chris Bottiglieri lowered the price target on AutoZone (NYSE: AZO) to $3,000.00 (from $3,150.00) while maintaining a Outperform rating.
The analyst comments "We rate AutoZone at Outperform. We see a favorable backdrop for auto parts industry growth over the mid-term, driven by continued tight... More
Lowe's (LOW) PT Lowered to $250 at Evercore ISI
May 22, 2024 5:04 AM EDTEvercore ISI analyst Greg Melich lowered the price target on Lowe's (NYSE: LOW) to $250.00 (from $255.00) while maintaining a In Line rating.
The analyst comments "Whats harder? Twelve quarters of negative traffic, six quarters of negative comps, or trying to time of the turn in both. For Lowes, the toughest thing is trying to manage costs while investing to grow, balancing the two to grow share while keeping margins from falling further. For investors,... More
AutoZone (AZO) PT Lowered to $3,250 at Evercore ISI
May 22, 2024 5:04 AM EDTEvercore ISI analyst Greg Melich lowered the price target on AutoZone (NYSE: AZO) to $3,250.00 (from $3,300.00) while maintaining a Outperform rating.
The analyst comments "AZO is battling cyclical weather/ lackluster consumer and disinflation headwinds evidenced by a flat domestic comp, SG&A de-leverage, and... More
NVIDIA (NVDA) PT Raised to $1,100 at CFRA
May 21, 2024 11:51 AM EDTCFRA analyst Angelo Zino raised the price target on NVIDIA (NASDAQ: NVDA) to $1,100.00 (from $1,000.00) while maintaining a Buy rating.
The analyst comments "We up our 12-month target to $1,100 from $1,000, on a P/E of 35x our CY 25 EPS view, above peers but below... More
Palo Alto Networks (PANW) PT Raised to $285 at Macquarie
May 21, 2024 10:40 AM EDTMacquarie analyst Sarah Hindlian-Bowler raised the price target on Palo Alto Networks (NASDAQ: PANW) to $285.00 (from $270.00) while maintaining a Neutral rating.
The analyst comments "Palo reported a generally in-line FQ3'24, with total revenue of $1.98bn vs. consensus of $1.97bn and billings of $2.33bn vs. consensus of $2.34bn. EPS of $1.32 beat vs. consensus of $1.25. RPO... More
AutoZone (AZO) PT Raised to $3,250 at CFRA
May 21, 2024 8:58 AM EDTCFRA analyst Garrett Nelson raised the price target on AutoZone (NYSE: AZO) to $3,250.00 (from $3,200.00) while maintaining a Buy rating.
The analyst comments "We boost our 12-month price target to $3,250 from $3,200, based on a FY 25 (Aug.) P/E of 19.2x, a justified... More
Palo Alto Networks (PANW) PT Raised to $350 at FBN Securities
May 21, 2024 8:42 AM EDTFBN Securities analyst Shebly Seyrafi raised the price target on Palo Alto Networks (NASDAQ: PANW) to $350.00 (from $310.00) while maintaining a Outperform rating.
The analyst comments "We retain our Outperform rating on PANW and raise our PT from $310 to $350 following its FQ3 report in which revenue grew by 15% Y/Y (and came in 1% above consensus), billings grew by 3% Y/Y (in line with consensus), and NG EPS of $1.32 came in seven cents above consensus of $1.25. Shares are looking to exhibit weakness today as billings of $2.33B just met consensus and... More
Palo Alto Networks (PANW) PT Raised to $345 at Citi, 'We Said It’d Be Bumpy'
May 21, 2024 7:08 AM EDTCiti analyst Fatima Boolani raised the price target on Palo Alto Networks (NASDAQ: PANW) to $345.00 (from $335.00) while maintaining a Buy rating.
The analyst comments "Expectations ran-up significantly into results (>10% MTD), but the easy setup on the back of large deal upswing (well-telegraphed 9-fig... More
Jefferies Reiterates Buy Rating on Lowe's (LOW)
May 21, 2024 6:51 AM EDTJefferies analyst Jonathan Matuszewski reiterated a Buy rating and $267.00 price target on Lowe's (NYSE: LOW)
The analyst comments "Shares are up in the pre-market. The 4.1% comp decline comes in ~140 bps above the Street, even with unseasonable weather and ongoing big... More
Rosenblatt Reiterates Neutral Rating on Palo Alto Networks (PANW)
May 21, 2024 6:47 AM EDTRosenblatt analyst Catherine Trebnick reiterated a Neutral rating and $300.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "Despite positive momentum in Q3 results, including a 40% Q/Q increase in platformization deals, 50% Y/Y NGS ARR growth, 23%... More
Wedbush Reiterates Outperform Rating on Palo Alto Networks (PANW)
May 21, 2024 6:44 AM EDTWedbush analyst Daniel Ives reiterated an Outperform rating and $375.00 price target on Palo Alto Networks (NASDAQ: PANW)
The analyst comments "Total revenues came in at $1.98 billion, coming in just above the Streets $1.97 billion estimate with RPO growing 23% y/y to $11.3 billion as... More
Goldman Sachs Reiterates Buy Rating on Palo Alto Networks (PANW)
May 21, 2024 6:41 AM EDTGoldman Sachs analyst Gabriela Borges reiterated a Buy rating and $310.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "PANW is indicated down 8%. 3QFY billings was in line, while revenue and EPS was 1%/5% ahead of the Street (FactSet). 4QFY... More
Deutsche Bank Reiterates Buy Rating on Palo Alto Networks (PANW)
May 21, 2024 6:37 AM EDTDeutsche Bank analyst Brad Zelnick reiterated a Buy rating and $330.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "We maintain our Buy rating post F3Q results that were largely in line with consensus expectations, though shy on... More
JPMorgan Reiterates Overweight Rating on Palo Alto Networks (PANW)
May 21, 2024 6:36 AM EDTJPMorgan analyst Brian Essex reiterated an Overweight rating and $340.00 price target on Palo Alto Networks (NASDAQ: PANW)
The analyst comments "Training investors to look past billings weakness could take a bit of time. PANW stock traded off over 8% after hours as billings was relatively in-line with sellside expectations but fell below investor expectations. In our view, the magnitude of last quarters $600mm cut to billings guidance likely gave investors the impression the company was setting expectations at more conservative levels, leading to anticipation of a healthy billings beat in the quarter. The... More
Cantor Fitzgerald Reiterates Overweight Rating on Palo Alto Networks (PANW)
May 21, 2024 6:32 AM EDTCantor Fitzgerald analyst Jonathan Ruykhaver reiterated an Overweight rating and $350.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "We reiterate our Overweight rating and maintain our price target at $350 post the F3Q24 results update. Palo Alto Networks delivered a "met expectations" quarter on revenue in line with FactSet consensus (+90 bps vs. consensus), billings (inline), and free cash flow (FCF) (+19.3% vs. consensus). The results were in line with our expectations coming into the quarter, see our... More
Jefferies Reiterates Buy Rating on Palo Alto Networks (PANW)
May 21, 2024 6:18 AM EDTJefferies analyst Joseph Gallo reiterated a Buy rating and $365.00 price target on Palo Alto Networks (NASDAQ: PANW).
The analyst comments "F3Q billings grew 3% yoy in-line with guidance but below elevated expectations. Normalized results were worse when considering fed traction & one large deal... More
