After-hours movers: Marvell Technology, Salesforce, Okta and more
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Deutsche Bank Reiterates Buy Rating on Marvell (MRVL)
December 4, 2024 9:53 AM ESTDeutsche Bank analyst Ross Seymore reiterated a Buy rating and $90.00 price target on Marvell (NASDAQ: MRVL).
The analyst comments "This morning, Marvell announced a five-year strategic partnership agreement with Amazon Web Services (AWS) aimed at driving innovation and improving efficiency in data center... More
Pure Storage (PSTG) PT Raised to $77 at BofA Securities
December 4, 2024 9:11 AM ESTBofA Securities analyst Wamsi Mohan raised the price target on Pure Storage (NYSE: PSTG) to $77.00 (from $68.00) while maintaining a Neutral rating.
The analyst comments "Pure delivered a strong F3Q with revs and OI above guidance. For the past year,... More
salesforce.com (CRM) PT Raised to $440 at BofA Securities
December 4, 2024 9:10 AM ESTBofA Securities analyst Brad Sills raised the price target on salesforce.com (NYSE: CRM) to $440.00 (from $390.00) while maintaining a Buy rating.
The analyst comments "Q3 results suggest that the company is leading the way in agentic AI cycle with Agentforce. Commentary on pipeline... More
Marvell (MRVL) PT Raised to $122 at CFRA
December 4, 2024 9:09 AM ESTCFRA analyst Angelo Zino raised the price target on Marvell (NASDAQ: MRVL) to $122.00 (from $108.00) while maintaining a Strong Buy rating.
The analyst comments "We boost our 12-month target to $122 from $108, on P/E of 35x our CY 26 EPS view, above... More
Okta, Inc (OKTA) PT Raised to $95 at Citi
December 4, 2024 8:02 AM ESTCiti analyst Fatima Boolani raised the price target on Okta, Inc (NASDAQ: OKTA) to $95.00 (from $90.00) while maintaining a Neutral rating.
The analyst comments "~4pt cRPO beat (besting recent Qs), and robust in-Q/FY25E OPM/FCFM upside outshined, alongside RPO 19% YoY... More
Marvell (MRVL) PT Raised to $115 at Goldman Sachs, 'continue to view Marvell as one of the key beneficiaries...'
December 4, 2024 7:16 AM ESTGoldman Sachs analyst Toshiya Hari raised the price target on Marvell (NASDAQ: MRVL) to $115.00 (from $87.00) while maintaining a Buy rating.
The analyst comments "Marvell delivered its second consecutive beat/raise as revenue growth in core Data Center, driven by strength in AI Custom Compute and Optics, continues to... More
Morgan Stanley Out Cautious on Marvell (MRVL): 'high valuation and 2026 market share risks keep us EW'
December 4, 2024 7:02 AM ESTMorgan Stanley analyst Joseph Moore raised the price target on Marvell (NASDAQ: MRVL) to $102.00 (from $82.00) while maintaining a Equalweight rating.
The analyst comments "Thoughts on the stock: We like the narrative here, but the stock trades at a very rich multiple on forward P/E, especially including stock compensation. For the last several... More
Marvell (MRVL) PT Raised to $125 at BofA Securities
December 4, 2024 7:01 AM ESTBofA Securities analyst Vivek Arya raised the price target on Marvell (NASDAQ: MRVL) to $125.00 (from $108.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating on Marvell Technology (MRVL), as we believe it presents a unique investment (75%+ data center... More
Marvell (MRVL) PT Raised to $130 at Wolfe Research
December 4, 2024 7:00 AM ESTWolfe Research analyst Chris Caso raised the price target on Marvell (NASDAQ: MRVL) to $130.00 (from $90.00) while maintaining a Outperform rating.
The analyst comments "Reiterate Outperform rating, $130 price target. Our $130 price target is based on ~38x our CY26 (FY27) EPS estimate of... More
Marvell (MRVL) PT Raised to $125 at Stifel
December 4, 2024 6:59 AM ESTStifel analyst Tore Svanberg raised the price target on Marvell (NASDAQ: MRVL) to $125.00 (from $114.00) while maintaining a Buy rating.
The analyst comments "Oct Q results at high-end of guidance (revs +4.6%, NG EPS +$0.03 vs. our est.). DC/AI revs grew +25% q/q on... More
Marvell (MRVL) PT Raised to $140 at Rosenblatt
December 4, 2024 6:58 AM ESTRosenblatt analyst Hans Mosesmann raised the price target on Marvell (NASDAQ: MRVL) to $140.00 (from $120.00) while maintaining a Buy rating.
The analyst comments "Marvell delivered a meaningful beat and raise last night for its October quarter earnings driven by a step-up in DC/AI demand (custom ASIC, networking and electro optics). Management indicated... More
Pure Storage (PSTG) PT Raised to $75 at JPMorgan
December 4, 2024 6:53 AM ESTJPMorgan analyst Pinjalim Bora raised the price target on Pure Storage (NYSE: PSTG) to $75.00 (from $60.00) while maintaining a Overweight rating.
The analyst comments "Pure Storage delivered a robust quarter with Q3 results landing above expectations. The main highlight of the... More
salesforce.com (CRM) PT Raised to $380 at JPMorgan
December 4, 2024 6:52 AM ESTJPMorgan analyst Mark Murphy raised the price target on salesforce.com (NYSE: CRM) to $380.00 (from $340.00) while maintaining a Overweight rating.
The analyst comments "As a reminder, in our Salesforce FQ3 (Oct) partner survey (presentation here and video call here) we pointed out that essentially all survey metrics regained some ground, although not suggesting that the demand... More
Okta, Inc (OKTA) PT Raised to $110 at BTIG
December 4, 2024 6:00 AM ESTBTIG analyst Gray Powerll raised the price target on Okta, Inc (NASDAQ: OKTA) to $110.00 (from $98.00) while maintaining a Buy rating.
The analyst comments "In what has been a difficult earnings season across our security software coverage, OKTA delivered much better than expected FQ3/ Oct results and guided Q4 above expectations. Most... More
Goldman Sachs Reiterates Buy Rating on Okta, Inc (OKTA)
December 4, 2024 5:58 AM ESTGoldman Sachs analyst Gabriela Borges reiterated a Buy rating and $107.00 price target on Okta, Inc (NASDAQ: OKTA)
The analyst comments "Okta is indicated up 16% after hours post 3QFY (October) earnings. 3Q revenue/EBIT was 2%/15% above the Street (FactSet), cRPO was 4% above. 4Q revenue/EBIT guidance is 3%/10% above the Street, cRPO... More
salesforce.com (CRM) PT Raised to $400 at Goldman Sachs
December 4, 2024 5:58 AM ESTGoldman Sachs analyst Kash Rangan raised the price target on salesforce.com (NYSE: CRM) to $400.00 (from $360.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating and raise our 12-month PT to $400 (from $360) as Agentforce and Data Cloud drive notable pipeline generation. CRM is +10% AH after delivering solid F3Q25 results and F4Q25 guidance, as managements commentary... More
Okta, Inc (OKTA) PT Raised to $90 at DA Davidson
December 4, 2024 5:53 AM ESTDA Davidson analyst Rudy Kessinger raised the price target on Okta, Inc (NASDAQ: OKTA) to $90.00 (from $75.00) while maintaining a Neutral rating.
The analyst comments "Strong FQ3 upside against very conservative guidance. CRPOs were +13% Y/Y, steady with +13% Y/Y last qtr. &... More
Pure Storage (PSTG) PT Raised to $75 at Evercore ISI
December 4, 2024 5:52 AM ESTEvercore ISI analyst Amit Daryanani raised the price target on Pure Storage (NYSE: PSTG) to $75.00 (from $70.00) while maintaining a Outperform rating.
The analyst comments "ALL YOU NEED TO KNOW: While numbers were good, the call and the trajectory of this stock will be heavily driven by their ability to scale their new Top 4 cloud win into sizable revenues in CY26 and... More
Evercore ISI Reiterates Outperform Rating on Okta, Inc (OKTA)
December 4, 2024 5:52 AM ESTEvercore ISI analyst Kirk Materne reiterated an Outperform rating and $122.00 price target on Okta, Inc (NASDAQ: OKTA)
The analyst comments "OKTA delivered strong F3Q results that exceeded expectations. The F4Q guide was good enough, but the initial FY26 commentary was disappointing, despite being widely understood as a worst-case scenario and intended as a baseline starting point. The insights provided was that the guide reflects the same prudent approach to account for macro challenges, which are expected to ease in 1H FY26 as most renewals/downsells lapse (seat base sales into... More
salesforce.com (CRM) PT Raised to $420 at Evercore ISI
December 4, 2024 5:51 AM ESTEvercore ISI analyst Kirk Materne raised the price target on salesforce.com (NYSE: CRM) to $420.00 (from $400.00) while maintaining a Outperform rating.
The analyst comments "Bottom line: CRM delivered solid F3Q results with revenue +8% in c/c vs us/Street +7% a touch above and EPS ($2.41 vs us/Street $2.43/$2.44) was in line, though impacted by a negative $0.18 from losses on strategic investments. Further, CRPO growth of 10%/10% in c/c vs. Street estimates of ~9% was nicely ahead of... More
Marvell (MRVL) PT Raised to $130 at JPMorgan
December 4, 2024 5:21 AM ESTJPMorgan analyst Harlan Sur raised the price target on Marvell (NASDAQ: MRVL) to $130.00 (from $90.00) while maintaining a Overweight rating.
The analyst comments "As we had previewed (see note here), Marvell delivered better-than-expected Oct-Qtr results on accelerating growth in its Datacenter business led by the sharp step up in production shipments of its AI ASICs at Amazon (Trainium 2 AI processor) and Google (Axion CPU processor), continued strong demand for AI optical DSPs (800G and start of 1.6T ramp) and the start of Q/Q recovery in its cyclical segments. Off of a higher... More
Pure Storage (PSTG) PT Raised to $78 at Raymond James
December 4, 2024 5:16 AM ESTRaymond James analyst Simon Leopold raised the price target on Pure Storage (NYSE: PSTG) to $78.00 (from $70.00) while maintaining a Outperform rating.
The analyst comments "We maintain an Outperform rating on Pure Storage, following its beat and raise F3Q25 report that was... More
salesforce.com (CRM) PT Raised to $425 at Raymond James
December 4, 2024 5:15 AM ESTRaymond James analyst Brian Peterson raised the price target on salesforce.com (NYSE: CRM) to $425.00 (from $350.00) while maintaining a Strong Buy rating.
The analyst comments "Were reiterating our Strong Buy on shares of Salesforce following another healthy beat and raise quarter,... More
Box, Inc. (BOX) PT Raised to $40 at Raymond James
December 4, 2024 5:14 AM ESTRaymond James analyst Brian Peterson raised the price target on Box, Inc. (NYSE: BOX) to $40.00 (from $37.00) while maintaining a Outperform rating.
The analyst comments "We reiterate our Outperform rating on BOX following F3Q results that came in modestly above expectations, with the... More
Marvell (MRVL) PT Raised to $120 at Raymond James
December 4, 2024 5:13 AM ESTRaymond James analyst Srini Pajjuri raised the price target on Marvell (NASDAQ: MRVL) to $120.00 (from $90.00) while maintaining a Outperform rating.
The analyst comments "MRVLs F3Q results and F4Q outlook were both solid and were ahead of our recent expectations.... More
Marvell (MRVL) PT Raised to $112 at Citi
December 4, 2024 5:09 AM ESTCiti analyst Atif Malik raised the price target on Marvell (NASDAQ: MRVL) to $112.00 (from $91.00) while maintaining a Buy rating.
The analyst comments "MRVL posted strong beat and raise results as it hit an inflection point in sales of custom compute AI chips (Trainium2 for... More
Pure Storage (PSTG) PT Raised to $75 at Citi
December 4, 2024 5:08 AM ESTCiti analyst Asiya Merchant raised the price target on Pure Storage (NYSE: PSTG) to $75.00 (from $63.00) while maintaining a Buy rating.
The analyst comments "Shares up 20%+ as results beat expectations/guide and mgmt announced top-4 hyperscaler design win. FY25 guide was modestly increased though mgmt noted... More
Raymond James Comments on salesforce.com (CRM) Earnings
December 3, 2024 4:40 PM ESTRaymond James analyst Brian Peterson reiterated a Strong Buy rating and $350.00 price target on salesforce.com (NYSE: CRM).
The analyst comments "Quick Thoughts: Shares are up ~4% in after hours trading with the health top-line and RPO beat for the quarter, with the 4Q growth... More
