Selected stock price target news of the day - August 15th, 2024

By: Matthew Otto

Home Depot Q2 Results Beat Estimates, Guides Lower on Full-Year Outlook

Home Depot reported its fiscal second-quarter earnings, with an EPS of $4.60, surpassing the consensus estimate of $4.54 by $0.06. Revenue for the quarter reached $43.18 billion, exceeding the consensus estimate of $42.6 billion.

Despite the results, Home Depot now anticipates comparable sales to decline by 3% to 4% for the full year, compared to the approximately 1% decline observed in the quarter. Home Depot also expects full-year sales growth to be between 2.5% and 3.5%, a slowdown from the 1% increase seen in Q2.

In terms of profitability, Home Depot’s operating margin came in at 14.1% for Q2, higher than the company’s forecast range of 13.5% to 13.6%. However, Home Depot now expects EPS growth to decline by 2% to 4% for the full year.

Analysts Adjust Price Targets Following Q2 Beat and Mixed Guidance

RBC Capital analyst Steven Shemesh maintained a Sector Perform rating but lowered the price target from $377 to $363.
Loop Capital analyst Laura Champine maintained a Hold rating while reducing the price target from $360 to $330.
Truist Securities analyst Scot Ciccarelli reiterated a Buy rating yet lowered the price target slightly from $396 to $395.
UBS analyst Michael Lasser kept a Buy rating and increased the price target from $400 to $425.
Evercore ISI Group analyst Greg Melich reiterated an Outperform rating though lowered the price target from $415 to $400.
Stifel analyst W. Andrew Carter maintained a Hold rating but decreased the price target from $380 to $375.
Telsey Advisory Group analyst Joseph Feldman retained a Market Perform rating and a $360 price target.

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

Analyst Joseph Feldman (TELSEY ADVISORY) currently has the highest performing score on HD with 20/22 (90.91%) price target fulfillment ratio. His price targets carry an average of $17.6 (5.14%) potential upside. Home Depot stock price reaches these price targets on average within 136 days.

Intapp Surpasses Q4 Expectations and Provides Upbeat Q1 2025 Guidance

Intapp reported financial results for the fourth quarter, posting an EPS of $0.15 which was $0.03 higher than the analyst consensus estimate of $0.12. Revenue for the quarter also exceeded expectations, coming in at $114.4 million, compared to the consensus estimate of $111.58 million.

Intapp achieved a 33% year-over-year increase in cloud Annual Recurring Revenue (ARR), reaching $297 million, which now represents 73% of Intapp’s total ARR of $404 million. Total revenue for the quarter grew by 21% year-over-year to $114.4 million, driven by a 25% increase in SaaS and support revenue.

Looking ahead, Intapp anticipates Q1 EPS to be in the range of $0.12 to $0.14, aligning closely with the consensus estimate of $0.12. Additionally, Intapp expects revenue to be between $117.2 million and $118.2 million, slightly above the consensus estimate of $117.7 million.

Analyst Price Target Updates Following Strong Q4 Results

Citigroup analyst Steven Enders maintained a Buy rating and raised the price target from $50 to $52.
Barclays analyst Saket Kalia reiterated an Overweight rating while raising the price target from $42 to $44.
UBS analyst Kevin Mcveigh kept a Buy rating and increased the price target from $49 to $50.
BofA Securities analyst Koji Ikeda continued with a Buy rating, yet lowered the price target from $52 to $48.
Piper Sandler analyst Arvind Ramnani maintained an Overweight rating and a price target steady at $46.

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

Analyst Brian Schwartz (OPPENHEIMER) currently has the highest performing score on INTA with 5/9 (55.56%) price target fulfillment ratio. His price targets carry an average of $10.79 (34.57%) potential upside. Intapp stock price reaches these price targets on average within 146 days.

Sea Limited Reports Q2 2024 Revenue Growth but Misses EPS Expectations Amid Strategic Streamlining

Sea Limited reported financial performance for the second quarter of 2024 with an EPS of $0.14, missing the analyst estimate of $0.17 by $0.03. Sea’s total revenue increased by 23% year-on-year, reaching $3.81 billion, surpassing the consensus estimate of $3.74 billion.

This revenue growth was driven primarily by the performance of its e-commerce platform, Shopee, which saw revenue increase by 34% to $2.8 billion, representing approximately two-thirds of the company’s total revenue. Shopee’s gross merchandise value (GMV) is expected to grow in the mid-20% range for 2024, an upward revision from the previous forecast of high-teens growth.

In addition to its e-commerce success, Sea’s digital entertainment segment, Garena, posted a 21% year-on-year increase in bookings, further contributing to the overall revenue growth. SeaMoney, also reported a 21.4% increase in revenue, reaching $519 million.

Analysts Responds with Upgraded Price Targets and Ratings

Wedbush analyst Scott Devitt maintained an Outperform rating and raised the price target from $76 to $84.
TD Cowen analyst John Blackledge kept a Hold rating but increased the price target from $64 to $69.
JP Morgan analyst Ranjan Sharma upgraded from Neutral to Overweight rating and the price target from $66 to $90.
Benchmark analyst Fawne Jiang maintained a Buy rating and lifted the price target from $87 to $94.
BofA Securities analyst Sachin Salgaonkar reaffirmed a Buy rating and elevated the price target from $77 to $84.

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

Analyst John Blackledge (TD COWEN) currently has the highest performing score on SE with 10/13 (76.92%) price target fulfillment ratio. His price targets carry an average of $-4.64 (-6.76%) potential downside. Sea Limited stock price reaches these price targets on average within 101 days.