Selected stock price target news of the day - August 16th, 2024

By: Matthew Otto

Cisco Systems Exceeds Q4 Expectations and Provides Optimistic FY2025 Guidance

Cisco Systems reported Q4 FY2024 results, achieving earnings per share (EPS) of $0.87, slightly above the analyst estimate of $0.85. Revenue for the quarter reached $13.6 billion, surpassing the consensus estimate of $13.53 billion. Additionally, annual revenue reached $53.8 billion.

Cisco’s reported gross margin of 67.5%, buoyed by the acquisition of Splunk. The firm saw steady demand, with total product orders growing by 14% year-over-year and by 6% excluding Splunk.

Looking ahead, Cisco expects Q1 EPS to range between $0.86 and $0.88, higher than the consensus estimate of $0.85. Revenue for the quarter is projected to be between $13.65 billion and $13.85 billion, compared to the consensus of $13.71 billion.

For FY2025, Cisco anticipates EPS in the range of $3.52 to $3.58, aligning closely with the consensus estimate of $3.56. Cisco also expects revenue for the fiscal year to fall between $55 billion and $56.2 billion, slightly below the consensus of $55.68 billion.

Q4 Beat Drives Analyst Upgrades and Mixed Target Revisions

HSBC analyst Stephen Bersey upgraded from Hold to Buy and the price target from $46 to $58.
New Street Research analyst Pierre Ferragu upgraded from Neutral to Buy and announced a $57 price target.
Piper Sandler analyst James Fish reiterated a Neutral rating and a $52 price target.
Jefferies analyst George Notter kept a Buy rating but lowered the price target from $56 to $53.
Deutsche Bank analyst Matthew Niknam maintained a Hold rating and raised the price target from $52 to $53.
Barclays analyst Tim Long retained an Equal-Weight rating and lowered the price target from $50 to $49.
Needham analyst Alex Henderson reiterated a Hold rating.

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

Analyst James Fish (PIPER SANDLER) currently has the highest performing score on CSCO with 24/26 (92.31%) price target fulfillment ratio. His price targets carry an average of $5.98 (12.99%) potential upside. Cisco Systems stock price reaches these price targets on average within 340 days.

Brinker International Reports Q4 Earnings Miss but Raises FY2025 Guidance

Brinker International reported Q4 earnings, posting earnings per share (EPS) of $1.61, falling short of the analyst consensus of $1.66 by $0.05. However, revenue for the quarter came in at $1.21 billion, surpassing the consensus estimate of $1.15 billion by $60 million. This represents a 5.2% increase over the same period last year.

Brinker International achieved revenues rising by 6.8% for the year, driven by a 14.8% increase in comparable sales at Chili’s. This performance was bolstered by the launch of the Big Smasher burger on the 3 For Me value platform, which not only boosted traffic but also contributed to a 210 basis point improvement in restaurant operating margins.

Looking forward, Brinker International expects EPS in the range of $4.35 to $4.75, which exceeds the current analyst consensus of $4.22. Brinker also anticipates FY2025 revenue between $4.55 billion and $4.62 billion, above the consensus estimate of $4.37 billion.

Analysts Adjust Ratings and Price Targets Following Q4 Earnings

BofA Securities analyst Katherine Griffin maintained an Underperform rating and raised the price target from $58 to $63.
Keybanc analyst Eric Gonzalez upgraded from Sector Weight to Overweight and set a new price target of $72.
Wells Fargo analyst Jon Tower kept an Underweight rating and increased the price target from $45 to $50.
Barclays analyst Jeffrey Bernstein maintained an Equal-Weight rating while raising the price target from $53 to $66.
Evercore ISI Group analyst David Palmer reiterated an In-Line rating and upgraded the price target from $65 to $69.
BMO Capital analyst Andrew Strelzik maintained an Outperform rating but lowered the price target from $85 to $80.
Wedbush analyst Nick Setyan reiterated a Neutral rating and the price target at $68.

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

Analyst John Ivankoe (JPMORGAN) currently has the highest performing score on EAT with 14/17 (82.35%) price target fulfillment ratio. His price targets carry an average of $-5.88 (-8.66%) potential downside. Brinker International stock price reaches these price targets on average within 262 days.

Lumentum Holdings Exceeds Q4 Expectations and Provides Strong Fiscal 2025 Guidance

Lumentum Holdings reported its fiscal fourth quarter 2024 earnings, delivering an EPS of $0.06, surpassing the analyst estimate of $0.02 by $0.04. Reported revenue of $308.3 million, exceeding the consensus estimate of $301.14 million. This marks a turnaround for Lumentum, as it continues to navigate a challenging fiscal year that saw a 23.1% year-over-year decline in revenue to $1.36 billion.

Looking ahead, Lumentum has provided guidance for the first quarter of fiscal 2025, projecting an EPS range of $0.07 to $0.17, compared to the consensus estimate of $0.12. Also forecasts revenue between $315 million and $335 million, exceeding the consensus estimate of $311.4 million.

Analysts Adjust Price Targets Following Q4 Earnings Report

Northland Capital Markets analyst Tim Savageaux maintained a Market Perform rating, yet raised the price target from $40 to $45.
BofA Securities analyst Vivek Arya kept Underperform rating, but raised the price target from $45 to $50.
Jefferies analyst George Notter kept a Buy rating while increasing the price target from $53 to $65.
Craig-Hallum analyst Richard Shannon maintained a Buy rating and lifted the price target from $65 to $70.
Morgan Stanley analyst Meta Marshall reiterated an Equal-Weight rating and upgraded the price target from $50 to $54.
Barclays analyst Tom O’Malley maintained an Underweight rating, although raised the price target from $38 to $40.
B. Riley Securities analyst Dave Kang continued with a Neutral rating, and raised the price target from $40 to $50.
Needham analyst Alex Henderson maintained a Buy rating and increased the price target from $65 to $70.

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

Analyst Christopher Rolland (SUSQUEHANNA) currently has the highest performing score on LITE with 7/18 (38.89%) price target fulfillment ratio. His price targets carry an average of $12.59 (21.93%) potential upside. Lumentum Holdings stock price reaches these price targets on average within 104 days.