Futures dip, Salesforce forecast falls short of estimates - what's moving markets
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salesforce.com (CRM) PT Raised to $234 at Bernstein SocGen Group
May 30, 2024 6:06 AM EDTBernstein SocGen Group analyst Mark Moerdler raised the price target on salesforce.com (NYSE: CRM) to $234.00 (from $231.00) while maintaining a Underperform rating.
The analyst comments "Salesforce had a difficult quarter with misses in revenue, margins, and leading indicators like cRPO, a weak Q2... More
salesforce.com (CRM) PT Lowered to $320 at Morgan Stanley
May 30, 2024 5:53 AM EDTMorgan Stanley analyst Keith Weiss lowered the price target on salesforce.com (NYSE: CRM) to $320.00 (from $350.00) while maintaining a Overweight rating.
The analyst comments "Weak bookings in Q1 further test investor patience as the GenAI innovation cycle has yet to inflect top-line... More
HP, Inc. (HPQ) PT Raised to $37 at Morgan Stanley
May 30, 2024 5:52 AM EDTMorgan Stanley analyst Erik Woodring raised the price target on HP, Inc. (NYSE: HPQ) to $37.00 (from $36.00) while maintaining a Overweight rating.
The analyst comments "We continue to see HPQ as a positively skewed way to play the PC mkt recovery. But with... More
HP, Inc. (HPQ) PT Raised to $37 at BofA Securities
May 30, 2024 5:45 AM EDTBofA Securities analyst Wamsi Mohan raised the price target on HP, Inc. (NYSE: HPQ) to $37.00 (from $35.00) while maintaining a Buy rating.
The analyst comments "HPQ F2Q24 rev came in above expectations at $12.8bn versus $12.5bn/ $12.6bn (BofA /
Street). HPQ... More
salesforce.com (CRM) PT Lowered to $250 at Wells Fargo
May 30, 2024 5:42 AM EDTWells Fargo analyst Michael Turrin lowered the price target on salesforce.com (NYSE: CRM) to $250.00 (from $300.00) while maintaining a Equal Weight rating.
The analyst comments "FQ1 Results: (1) FQ1 top-line results were below St ests, w/total rev +11% in CC, driven by Sales & Service... More
salesforce.com (CRM) PT Lowered to $260 at Citi
May 30, 2024 5:38 AM EDTCiti analyst Tyler Radke lowered the price target on salesforce.com (NYSE: CRM) to $260.00 (from $323.00) while maintaining a Neutral rating.
The analyst comments "Macro headwinds returned with a vengeance with an alarming ~150bps shortfall on adj. cRPO in 1Q25 (worst miss we can... More
salesforce.com (CRM) PT Lowered to $315 at Goldman Sachs
May 30, 2024 5:34 AM EDTGoldman Sachs analyst Kash Rangan lowered the price target on salesforce.com (NYSE: CRM) to $315.00 (from $345.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating though lower our PT to $315 ($345 prior) after CRMs F1Q25 results largely came in lower than investors expectations. With subscription revenue growth of 12.3% and OPM of 32.1% coming in-line with expectations, cRPO growth of 9.5% 150bps weaker than... More
Goldman Sachs Reiterates Neutral Rating on HP, Inc. (HPQ)
May 30, 2024 5:32 AM EDTGoldman Sachs analyst Michael Ng reiterated a Neutral rating and $33.00 price target on HP, Inc. (NYSE: HPQ).
The analyst comments "HPQs F2Q24 EPS of $0.82 largely met GS/consensus of $0.83/$0.81 as a revenue beat on Personal Systems was offset by a miss in segment margins; Print revenue was in-line. HPQ is seeing early signs of a PC recovery with Personal Systems revenue growth of 2% (ex forex), marking the first... More
Evercore ISI Reiterates Outperform Rating on HP, Inc. (HPQ)
May 30, 2024 5:13 AM EDTEvercore ISI analyst Amit Daryanani reiterated an Outperform rating and $40.00 price target on HP, Inc. (NYSE: HPQ).
The analyst comments "HPQ reported a solid Apr-qtr with rev/EPS of $12.8B/82c, ~$200M above street estimates on sales and a penny above on EPS. HPQ reiterated its FY24 guidance of EPS of $3.45 (but brought in the range from $3.25-3.65 to $3.30-3.60) with expectations of an accelerating PC refresh cycle and tailwinds from AI PCs in H2 HPQ expects AI PCs to comprise ~10% of H2 PC unit shipments and ~40-60% of sales within 3 years of... More
salesforce.com (CRM) PT Lowered to $300 at Evercore ISI
May 30, 2024 5:12 AM EDTEvercore ISI analyst Kirk Materne lowered the price target on salesforce.com (NYSE: CRM) to $300.00 (from $330.00) while maintaining a Outperform rating.
The analyst comments "Sort of a messy quarter as revenue came in on the lower end of the guide and bookings were light based on a tougher macro and some GTM changes that impacted execution. Given the uneven macro backdrop, the bigger question coming away from the quarter is whether the top line guide is conservative enough and that concern is pressuring shares in the after-market. While... More
