After-hours movers: NVIDIA, Affirm, Salesforce and more
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Affirm Holdings Inc. (AFRM) PT Raised to $47 at JPMorgan
August 29, 2024 8:05 AM EDTJPMorgan analyst Reginald Smith raised the price target on Affirm Holdings Inc. (NASDAQ: AFRM) to $47.00 (from $45.00) while maintaining a Overweight rating.
The analyst comments "Revenue growth beat Street estimates and Affirm posted its most profitable quarter on record. FY25 guidance was... More
Rosenblatt Reiterates Buy Rating on NVIDIA (NVDA)
August 29, 2024 7:38 AM EDTRosenblatt analyst Hans Mosesmann reiterated a Buy rating and $200.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "NVDA reported a solid beat and raise on Hopper generative AI and networking momentum, offset by slightly lower GMs in the outlook due to the start-up ramp of Blackwell... More
CrowdStrike Holdings (CRWD) PT Lowered to $335 at RBC Capital
August 29, 2024 7:09 AM EDTRBC Capital analyst Matthew Hedberg lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $335.00 (from $345.00) while maintaining a Outperform rating.
The analyst comments "We thought the quarter was better-than-expected, though the focus was on the outlook, which points to some... More
Melius Reiterates Buy Rating on NVIDIA (NVDA)
August 29, 2024 6:52 AM EDTMelius analyst Ben Reitzes reiterated a Buy rating and $165.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "$5 in EPS Power Still in Sight: "Whispers" going in were up to $500mm higher in terms of revenue for the quarter but it seems like the difference could be supply-driven and guidance implies a stronger trajectory into year-end (especially for 4Q). So gross margin will be the big concern coming out of the quarter - but the sacred view of $5.00... More
CrowdStrike Holdings (CRWD) PT Lowered to $350 at Cantor Fitzgerald
August 29, 2024 6:31 AM EDTCantor Fitzgerald analyst Jonathan Ruykhaver lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $350.00 (from $400.00) while maintaining a Overweight rating.
The analyst comments "Investment Summary. We reiterate our Overweight rating and reduce our 12-month price target to $350 from $400; we continue to... More
TD Cowen Reiterates Hold Rating on Okta, Inc (OKTA)
August 29, 2024 6:29 AM EDTTD Cowen analyst Shaul Eyal reiterated a Hold rating and $110.00 price target on Okta, Inc (NASDAQ: OKTA).
The analyst comments "Solid Beats On Top and Bottom Line: For 2Q25 (Jul. 24), total rev grew 16% y/y to $646M (2% above cons.), driven by a 17% increase in subscription rev. cRPO of $1,995M (+13% y/y) came in 2% above the consensus $1,958M. With a non-GAAP operating margin of 22.9% (330bps better than cons.), profitability benefited from higher volumes and more stringent... More
Goldman Sachs Reiterates Buy Rating on CrowdStrike Holdings (CRWD)
August 29, 2024 6:28 AM EDTGoldman Sachs analyst Gabriela Borges reiterated a Buy rating and $295.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).
The analyst comments "Guidance sizes outage headwinds; early commentary suggests temporary not structural slowdown. CrowdStrike reported a surprising solid 2QFY and provided detail on its... More
NVIDIA (NVDA) PT Raised to $145 at Needham
August 29, 2024 6:27 AM EDTNeedham analyst Rajvindra Gill raised the price target on NVIDIA (NASDAQ: NVDA) to $145.00 (from $120.00) while maintaining a Buy rating.
The analyst comments "NVIDIA delivered another strong beat and raise quarter, with results well above our estimates and inline with more bullish buy-side... More
Needham Reiterates Hold Rating on Affirm Holdings Inc. (AFRM)
August 29, 2024 6:26 AM EDTNeedham analyst Kyle Peterson reiterated a Hold rating on Affirm Holdings Inc. (NASDAQ: AFRM).
The analyst comments "AFRM reported impressive results that were well above expectations due to broad-based strength. In addition, the company provided an above consensus outlook and shared... More
Okta, Inc (OKTA) PT Lowered to $90 at Wells Fargo
August 29, 2024 6:11 AM EDTWells Fargo analyst Andrew Nowinski lowered the price target on Okta, Inc (NASDAQ: OKTA) to $90.00 (from $100.00) while maintaining a Equal Weight rating.
The analyst comments "OKTA was down ~9% AMC largely due to the CRPO guidance for Q3, which equates to just... More
salesforce.com (CRM) PT Raised to $275 at Wells Fargo
August 29, 2024 6:11 AM EDTWells Fargo analyst Michael Turrin raised the price target on salesforce.com (NYSE: CRM) to $275.00 (from $250.00) while maintaining a Equal Weight rating.
The analyst comments "Solid FQ2 results: FQ2 revs topped guide by 0.8%, improving from recent beats (incl. 0.4% miss in FQ1) on 9.2% growth... More
CrowdStrike Holdings (CRWD) PT Lowered to $365 at Oppenheimer
August 29, 2024 5:53 AM EDTOppenheimer analyst Ittai Kidron lowered the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $365.00 (from $450.00) while maintaining a Outperform rating.
The analyst comments "CrowdStrike reported better than feared 2Q results, beating estimates and delivering 11% NNARR growth despite dealing with the impact of... More
Summit Insights Reiterates Buy Rating on NVIDIA (NVDA)
August 29, 2024 5:52 AM EDTSummit Insights analyst Kinngai Chan reiterated a Buy rating on NVIDIA (NASDAQ: NVDA).
The analyst comments "Clearly, the gross margin outlook for its October and January quarters is a disappointment. We think this mask step change on its upcoming "Blackwell" GPU could... More
Edward Jones Reiterates Buy Rating on salesforce.com (CRM)
August 29, 2024 5:46 AM EDTEdward Jones analyst Logan Purk reiterated a Buy rating on salesforce.com (NYSE: CRM).
The analyst comments "Salesforce is the leading provider of customer relationship management (CRM) software. We believe Salesforce is well-positioned to deliver above-average growth. As more companies expand their digital... More
Edward Jones Reiterates Hold Rating on NVIDIA (NVDA), 'We think the stock appropriately reflects our optimistic growth outlook and is appropriately valued'
August 29, 2024 5:46 AM EDTEdward Jones analyst Logan Purk reiterated a Hold rating and {REMOVEPT} price target on NVIDIA (NASDAQ: NVDA)
The analyst comments "NVIDIA is the leading provider of high-performance graphics processing units (GPUs) globally. Management has executed well, establishing the company at the epicenter of the... More
Okta, Inc (OKTA) PT Lowered to $105 at JPMorgan
August 29, 2024 5:39 AM EDTJPMorgan analyst Brian Essex lowered the price target on Okta, Inc (NASDAQ: OKTA) to $105.00 (from $110.00) while maintaining a Neutral rating.
The analyst comments "Execution relatively healthy but we're still waiting for recovery. OKTA delivered solid results with better than expected cRPO, revenue, operating margin, and FCF. Results were positive as the company reached GAAP profitability for... More
Evercore ISI Reiterates Outperform Rating on CrowdStrike Holdings (CRWD)
August 29, 2024 5:35 AM EDTEvercore ISI analyst Peter Levine reiterated an Outperform rating and $325.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).
The analyst comments "The F2Q results were never up for debate, and as expected, exceeded expectations, despite the limited impact (9 days) of the outage. Although the initial after-market reaction suggested that the 2H outlook was better than feared and likely enough to avoid further downward revisions, were not completely convinced of that, and the call left us with more questions than answers. Mgmt stated that they do not anticipate any significant impact on... More
Evercore ISI Reiterates Outperform Rating on salesforce.com (CRM)
August 29, 2024 5:34 AM EDTEvercore ISI analyst Kirk Materne reiterated an Outperform rating and $300.00 price target on salesforce.com (NYSE: CRM).
The analyst comments "Bottom line: CRM delivered solid F2Q results and a nice bounce back from an execution standpoint after a disappointing F1Q. Specifically, subscription revenue of +9.5% came in slightly ahead of our/Street estimates at ~8.5%, and CRPO growth of ~10% (11% in cc) was ahead of our/Street estimates of ~9%. F3Q CRPO guidance of ~9% landed directly in the middle of us/Street at ~8.5%/9.3%, though we would note does include a ~$100mn FX tailwind. While we... More
Evercore ISI Starts Okta, Inc (OKTA) at Outperform
August 29, 2024 5:34 AM EDTEvercore ISI analyst Kirk Materne initiates coverage on Okta, Inc (NASDAQ: OKTA) with a Outperform rating and a price target of $122.00.
The analyst comments "OKTA delivered strong F2Q results that exceeded expectations, but the 2H rev (specifically the implied F4Q guide) & CRPO guide was disappointing and unexpected, given the positive checks from the quarter (here). While the progress on margins and FCF front helps offset the macro pressures hindering the top line, its likely not enough to excite investors until we get line of sight into the acceleration narrative... More
Okta, Inc (OKTA) PT Lowered to $85 at DA Davidson
August 29, 2024 5:31 AM EDTDA Davidson analyst Rudy Kessinger lowered the price target on Okta, Inc (NASDAQ: OKTA) to $85.00 (from $100.00) while maintaining a Neutral rating.
The analyst comments "Per usual, OKTA posted strong FQ2 upside against very conservative guidance. CRPO growth was +13% Y/Y... More
salesforce.com (CRM) PT Raised to $250 at DA Davidson
August 29, 2024 5:31 AM EDTDA Davidson analyst Gil Luria raised the price target on salesforce.com (NYSE: CRM) to $250.00 (from $230.00) while maintaining a Neutral rating.
The analyst comments "Salesforce reported better than expected results including cRPO growth outperformance driven by bookings execution and early renewal tailwinds.... More
CrowdStrike Holdings (CRWD) PT Raised to $310 at DA Davidson
August 29, 2024 5:30 AM EDTDA Davidson analyst Rudy Kessinger raised the price target on CrowdStrike Holdings (NASDAQ: CRWD) to $310.00 (from $290.00) while maintaining a Buy rating.
The analyst comments "CRWD delivered strong FQ2 results, with ARR (+32% Y/Y) beating cons. & NNARR growing +11% Y/Y despite... More
BTIG Reiterates Neutral Rating on CrowdStrike Holdings (CRWD)
August 29, 2024 5:28 AM EDTBTIG analyst Gray Powell reiterated a Neutral rating on CrowdStrike Holdings (NASDAQ: CRWD).
The analyst comments "CRWD posted better-than-expected FQ2 results but the updated outlook for FY25 was reduced by more than we expected. To go into details, CRWD reported FQ2 ARR of $3,865MM / +31.9% y/y vs our estimates of $3,842MM / 31.1% and the Street at $3,846MM. Net ARR additions were $218MM vs the street at $199MM and our $195MM estimate. However,... More
Goldman Sachs Reiterates Buy Rating on Affirm Holdings Inc. (AFRM)
August 29, 2024 5:26 AM EDTGoldman Sachs analyst Will Nance reiterated a Buy rating and $46.00 price target on Affirm Holdings Inc. (NASDAQ: AFRM).
The analyst comments "Results were solid, as the company exceeded RLTC for the quarter by 22%, or 6% after stripping out one-off securitization related gains. Additionally, AFRMs... More
salesforce.com (CRM) PT Raised to $325 at Goldman Sachs
August 29, 2024 5:25 AM EDTGoldman Sachs analyst Kash Rangan raised the price target on salesforce.com (NYSE: CRM) to $325.00 (from $315.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating and raise our PT to $325 ($315 prior) as we see F2Q25 offering a relief for investors as the results largely affirmed a stabilizing demand environment and the reiteration of FY top-line guidance... More
Okta, Inc (OKTA) PT Lowered to $110 at Citi
August 29, 2024 5:22 AM EDTCiti analyst Fatima Boolani lowered the price target on Okta, Inc (NASDAQ: OKTA) to $110.00 (from $115.00) while maintaining a Neutral rating.
The analyst comments "Results cleared undemanding topline hurdles (~2pt upside to cRPO 13%YoY consistent with last Q; ~2pt revs beat to 16% YoY) and OKTA... More
NVIDIA (NVDA) PT Raised to $155 at JPMorgan
August 29, 2024 5:18 AM EDTJPMorgan analyst Harlan Sur raised the price target on NVIDIA (NASDAQ: NVDA) to $155.00 (from $115.00) while maintaining a Overweight rating.
The analyst comments "NVIDIA reported Jul results (revenue/GMs/EPS ) above consensus estimates and slightly lower than market expectations (in our view), and off of a higher Jul-Qtr revenue base, the team guided to a 8% Q/Q increase in the Oct-Qtr, above consensus (again a bit lower than market expectations) on continued strong spending from its customers to support their AI/accelerated compute initiatives (both training/inference) and the strong... More
Cantor Fitzgerald Reiterates Overweight Rating on NVIDIA (NVDA), 'Buy on Weakness', 'Remains Our Top Pick'
August 29, 2024 5:18 AM EDTCantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating and $175.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "Despite the after-hours sell-off, this was a solid report from NVDA amidst Blackwell delay concerns. The company posted a $2B beat vs guidance (in line with prior 5 Qs, though beats vs consensus shrinking as the Street is modeling more above guidance each Q) and guided for +$2.5B of Q/Q growth into 3Q (this compares to the prior 3 sequential guides of +$1.9B, +$1.9B, and $2.0B Q/Q). Further, as customers accelerate Hopper purchases,... More
Jefferies Reiterates Buy Rating on NVIDIA (NVDA)
August 29, 2024 5:17 AM EDTJefferies analyst Blayne Curtis reiterated a Buy rating and $150.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "Beat fell short of expectations, which rose sharply into the print but the important point is that the Blackwell delay is in the rearview mirror, while Hopper... More
KeyBanc Reiterates Overweight Rating on NVIDIA (NVDA), PT $180
August 29, 2024 5:16 AM EDTKeyBanc analyst John Vinh reiterated an Overweight rating and $180.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "NVDA reported F2Q results and provided F3Q guidance, which were above cons estimates, but fell short of buyside expectations, likely reflecting... More
DA Davidson Reiterates Neutral Rating on NVIDIA (NVDA), PT $90
August 29, 2024 5:16 AM EDTDA Davidson analyst Gil Luria reiterated a Neutral rating and $90.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "NVIDIA reported strong revenue growth highlighted by Data Center revenue that came in ahead of expectations, with the expectation that Hopper... More
Barclays Reiterates Overweight Rating on NVIDIA (NVDA)
August 29, 2024 5:14 AM EDTBarclays analyst Blayne Curtis reiterated an Overweight rating and $145.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "We get why investors may pick at this print from a superficial perspective but think that updates on key issues all leaned more... More
Five Below (FIVE) PT Lowered to $102 at Telsey
August 29, 2024 5:14 AM EDTTelsey analyst Joseph Feldman lowered the price target on Five Below (NASDAQ: FIVE) to $102.00 (from $120.00) while maintaining a Outperform rating.
The analyst comments "TAG View: On a relative basis, Five Belows 2Q24 results were generally consistent with its recent negative pre-announcement, with 2024 guidance touching the Street at... More
UBS Reiterates Buy Rating on NVIDIA (NVDA)
August 29, 2024 5:13 AM EDTUBS analyst Timothy Arcuri reiterated a Buy rating and $150.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "We reiterate Buy after the aftermarket pullback in the stock as NVDA's purchase commitments and supply obligations - the most important metric we watch, and historically a harbinger of future growth - grew significantly for the first time in several Qs. FQ3 guidance of ~$32.5B was maybe a touch below investor expectations and the implied FQ4 (Jan) gross... More
salesforce.com (CRM) PT Raised to $320 at Stifel
August 29, 2024 5:10 AM EDTStifel analyst Parker Lane raised the price target on salesforce.com (NYSE: CRM) to $320.00 (from $300.00) while maintaining a Buy rating.
The analyst comments "Contrary to last quarter, stronger bookings and cRPO figures drove shares higher AMC, driven by improved sales execution and early renewal... More
Guggenheim Reiterates Buy Rating on Five Below (FIVE)
August 29, 2024 5:10 AM EDTGuggenheim analyst John Heinbockel reiterated a Buy rating and $125.00 price target on Five Below (NASDAQ: FIVE).
The analyst comments "The fundamental FIVE story has never been murkier, especially as it relates to comp and EBIT margin drivers, and this has translated into unprecedented... More
Guggenheim Reiterates Neutral Rating on CrowdStrike Holdings (CRWD)
August 29, 2024 5:09 AM EDTGuggenheim analyst John DiFucci reiterated a Neutral rating on CrowdStrike Holdings (NASDAQ: CRWD).
The analyst comments "CrowdStrikes F2Q25 results were better than consensus estimates, though fallout from the July 19 IT outage will have lasting effects over the next year. CrowdStrike appears to have dealt with a very serious issue for its customers responsibly, but it still is a very serious issue, and its effects will not likely be... More
Wolfe Research on NVIDIA (NVDA): 'Our bullish view on the stock is underpinned by the significant content gains we expect for Blackwell'
August 29, 2024 5:09 AM EDTWolfe Research analyst Chris Caso reiterated an Outperform rating and $150.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "NVDA posted another beat and raise quarter, with JulQ results ~5% ahead of the street, and guidance ~2.5% ahead of the street -... More
NVIDIA (NVDA) PT Raised to $140 at Raymond James
August 29, 2024 5:08 AM EDTRaymond James analyst Srini Pajjuri raised the price target on NVIDIA (NASDAQ: NVDA) to $140.00 (from $120.00) while maintaining a Strong Buy rating.
The analyst comments "NVDAs results and outlook were largely consistent with our preview with the exception of gross margin... More
Oppenheimer Reiterates Outperform Rating on NVIDIA (NVDA)
August 29, 2024 5:07 AM EDTOppenheimer analyst Rick Schafer reiterated an Outperform rating and $150.00 price target on NVIDIA (NASDAQ: NVDA)
The analyst comments "NVDA reported upside results/outlook Wed. F2Q (Jul.) sales/EPS 5%/6% ahead. F3Q (Oct.) top-line outlook 3% above Street. Upside led by DC AI for... More
Piper Sandler on NVIDIA (NVDA): 'We are buyers of NVDA on the pullback following the Q2 print'
August 29, 2024 5:06 AM EDTPiper Sandler analyst Harsh Kumar reiterated an Overweight rating and $140.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "We are buyers of NVDA on the pullback following the Q2 print. In our opinion, fundamentals remain intact; however, the stock is... More
Okta, Inc (OKTA) PT Lowered to $104 at Mizuho
August 29, 2024 5:05 AM EDTMizuho analyst Gregg Moskowitz lowered the price target on Okta, Inc (NASDAQ: OKTA) to $104.00 (from $110.00) while maintaining a Neutral rating.
The analyst comments "As expected, cRPO growth of 13% Y/Y nicely exceeded mgmt's generally conservative guide of ~10-11% growth. However, mgmt... More
NVIDIA (NVDA) PT Raised to $165 at BofA Securities
August 29, 2024 5:03 AM EDTBofA Securities analyst Vivek Arya raised the price target on NVIDIA (NASDAQ: NVDA) to $165.00 (from $150.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating on Nvidia (NVDA), a top sector pick, raising FY25/26E (roughly CY24/25E) pf-EPS by 9%/9% to $2.81/$3.90, and raising... More
Citi Reiterates Buy Rating on NVIDIA (NVDA)
August 29, 2024 5:01 AM EDTCiti analyst Atif Malik reiterated a Buy rating and $150.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "NVDA reported beat and raise results with Jul-Q sales of $30B towards high-end of $29-$30B and Oct-Q guide of $32.5B at the mid-point of $32-33B... More
NVIDIA (NVDA) PT Raised to $140 at Mizuho
August 29, 2024 4:59 AM EDTMizuho analyst Vijay Rakesh raised the price target on NVIDIA (NASDAQ: NVDA) to $140.00 (from $132.00) while maintaining a Outperform rating.
The analyst comments "Key takeaways: 1) OctQ top line at ~$32.5B, estimate DC ~$28.5B up 9% q/q (up 96% y/y) with JulQ Purchase Commitments up 48% q/q, pointing to stronger 2H, 2) new Blackwell GPU to ship "several billions of dollars" in the JanQ, and 3) JulQ Networking up 16% q/q with Ethernet doubling. NVDA stock is off in after-hours as OctQ guide was modestly below optimistic expectations of ~$33-34B; NVDA noted potential GB200 DGX... More
Goldman Sachs Reiterates Conviction Buy on NVIDIA (NVDA)
August 29, 2024 4:59 AM EDTGoldman Sachs analyst Toshiya Hari keeps the price target on NVIDIA (NASDAQ: NVDA) at $135.00 while maintaining a Conviction Buy rating.
The analyst comments "While we expect Nvidias FY4Q (January) implied gross margin outlook in the low-70% range coupled with... More
Stifel Reiterates Buy Rating on NVIDIA (NVDA)
August 29, 2024 4:57 AM EDTStifel analyst Ruben Roy reiterated a Buy rating and $165.00 price target on NVIDIA (NASDAQ: NVDA)
The analyst comments "NVDA F2Q results and F3Q guidance beat expectations, driven by continued strength in data center compute platforms and networking for accelerated compute and AI... More
