Selected stock price target news of the day - April 26th, 2024

By: Matthew Otto

Alphabet’s Financial Triumph: Surpassing Expectations and Shaping the Future

Alphabet reported its latest financial report, showcasing earnings per share of $1.89, a leap from the projected $1.51, and revenue hitting $80.54 billion, surpassing expectations of $78.59 billion. Alphabet’s performance extends across key metrics, with YouTube advertising revenue reaching $8.09 billion, exceeding estimates of $7.72 billion, and Google Cloud revenue surging to $9.57 billion, outstripping expectations of $9.35 billion. Notably, Alphabet’s net income skyrocketed by 57% to $23.66 billion, or $1.89 per share, compared to the previous year’s $15.05 billion, or $1.17 per share.

Furthermore, Alphabet declared its inaugural dividend of 20 cents per share and authorization for a $70 billion share repurchase program. The firm’s financial position, closing the quarter with $108 billion in cash, equivalents, and marketable securities.

Analysts Bullish: Price Targets Surge as Company Outperforms

JP Morgan analyst Doug Anmuth maintained an Overweight rating and raised the price target from $165 to $200.
Jefferies analyst Brent Thill maintained a Buy rating and increased the price target from $180 to $200.
Wedbush analyst Scott Devitt maintained an Outperform rating while increasing the price target from $175 to $205.
Morgan Stanley analyst Brian Nowak reiterated an Overweight rating while raising the price target from $165 to $195.
JMP Securities analyst Andrew Boone reiterated a Market Outperform rating yet raised the price target from $160 to $200.
Evercore ISI Group analyst Mark Mahaney kept an Outperform rating and upgraded the price target from $160 to $220.
Baird analyst Colin Sebastian reiterated an Outperform and raised the price target from $160 to $200.
Canaccord Genuity analyst Maria Ripps kept a Buy and increased the price target from $190 to $210.
Wells Fargo analyst Ken Gawrelski maintained an Equal-Weight rating and raised the price target from $141 to $168.
Mizuho analyst James Lee maintained a Buy rating and upgraded the price target from $170 to $190.
Needham analyst Laura Martin reiterated a Buy and lifted the price target from $160 to $210.
Citigroup analyst Ronald Josey reiterated a Buy rating and lifted the price target from $168 to $190.
Barclays analyst Ross Sandler kept an Overweight and raised the price target from $173 to $200.
Wolfe Research analyst Deepak Mathivanan maintained an Outperform and raised the price target from $180 to $200.
Bernstein analyst Mark Shmulik maintained a Market Perform rating and increased the price target from $165 to $180.

Which Analyst has the best track record to show on GOOGL?

Analyst Colin Sebastian (BAIRD) currently has the highest performing score on GOOGL with 16/16 (100%) price target fulfillment ratio. His price targets carry an average of $12.58 (8.96%) potential upside. Alphabet stock price reaches these price targets on average within 146 days.

Intel’s First-Quarter Earnings: Mixed Results Reflect Semiconductor Landscape Challenges

Intel unveiled its first-quarter earnings report showcasing earning per share of 18 cents adjusted compared to the projected 14 cents. Despite surpassing analyst expectations for earnings per share, Intel’s revenue fell slightly short, registering $12.72 billion against the anticipated $12.78 billion.

Notably, the earnings report unveiled Intel’s separate chip manufacturing arm, Intel Foundry, which generated $4.4 billion in revenue for the quarter. However, the segment faced challenges, experiencing a 10% year-over-year decline and reporting a significant $2.5 billion operating loss. Within Intel’s core segments, Client Computing witnessed growth, with sales of PC and laptop chips soaring by 31% year-over-year to reach $7.5 billion. Conversely, the Data Center and AI business reported 5% sales increase, totaling $3 billion.

Intel also announced plans to release Gaudi 3, a new AI processor for servers, later this year, projecting sales of over $500 million in the second half of the year.

Analysts Adjust Price Targets Amid Market Uncertainty

Susquehanna analyst Christopher Rolland maintained a Neutral rating yet lowered the price target from $40 to $35.
Barclays analyst Ryan Macwilliams maintained an Equal-Weight rating while lowering price target from $44 to $40.
Wedbush analyst Matt Bryson reiterated a Neutral rating and decreased the price target from $40 to $32.5.
Bernstein analyst Stacy Rasgon kept a Market Perform rating but downgraded the price target from $42 to $35.
Morgan Stanley analyst Joseph Moore reiterated an Equal-Weight rating and lowered the price target from $48 to $36.
Evercore ISI Group analyst Mark Lipacis maintained an In-Line rating and decreased the price target from $40 to $36.
Mizuho analyst Vijay Rakesh reiterated a Buy rating and downgraded the price target from $55 to $45.
Goldman Sachs analyst Toshiya Hari reiterated a Sell rating and lowered the price target from $39 to $34.
Needham analyst Quinn Bolton reiterated Hold rating.
JP Morgan analyst Harlan Sur maintained an Underweight rating and lowered the price target from $37 to $35.

Which Analyst has the best track record to show on INTC?

Analyst Matthew Bryson (WEDBUSH) currently has the highest performing score on INTC with 10/12 (83.33%) price target fulfillment ratio. His price targets carry an average of $-3.51 (-8.07%) potential downside. Intel stock price reaches these price targets on average within 120 days.

Microsoft Fiscal Q3 Results: Azure and Cloud Services Lead the Charge

Microsoft’s fiscal third-quarter results have exceeded all expectations. With earnings per share reaching $2.94, surpassing the anticipated $2.82, and total revenue hitting $61.86 billion, beating the expected $60.80 billion. The Intelligent Cloud segment recorded $26.71 billion in revenue, marking a 21% increase compared to analyst consensus.

Azure and other cloud services spearheaded this surge with a 31% growth, outpacing the previous quarter’s 30%. Moreover, revenue from the Productivity and Business Processes unit surged to $19.57 billion, slightly exceeding expectations. Personal Computing segment raked in $15.58 billion, driven by an 18% increase, particularly fueled by a substantial 62% jump in revenue from Xbox content and services, following the acquisition of Activision Blizzard.

Analysts Reaffirm Ratings and Raise Price Targets

Wedbush analyst Daniel Ives reiterated an Outperform rating and a $500 price target.
Stifel analyst Brad Reback maintained a Buy rating and raised the price target from $455 to $475.
Goldman Sachs analyst Kash Rangan maintained a Buy rating and increased the price target from $450 to $515.
Evercore ISI Group analyst Kirk Materne reiterated an Outperform rating and upgraded the price target from $475 to $485.
JP Morgan analyst Mark Murphy kept an Overweight rating and raised the price target from $440 to $470.
Bernstein analyst Mark Moerdler maintained an Outperform rating and increased the price target from $465 to $489.
Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and raised the price target from $455 to $465.

Which Analyst has the best track record to show on MSFT?

Analyst Derrick Wood (TD COWEN) currently has the highest performing score on MSFT with 8/8 (100%) price target fulfillment ratio. His price targets carry an average of $27.07 (6.80%) potential upside. Microsoft stock price reaches these price targets on average within 143 days.