Selected stock price target news of the day - December 6th, 2023

By: Matthew Otto

Asana Surpasses Expectations with Q4 Financials

Asana reported a revenue of $166.5 million for the quarter, marking an 18% increase from the previous year. Notably, this figure exceeded Asana’s own guidance range of $163.5 million to $164.5 million, as well as the Street consensus at $164.1 million. On the adjusted earnings front, Asana posted a narrower loss of 4 cents per share, surpassing the company’s own forecast of 10 to 11 cents per share and beating the Street consensus estimate of an 11-cent loss per share.

Looking ahead, Asana’s outlook for the January quarter forecasted revenue projections ranging from $167 million to $168 million—outpacing the consensus estimate of $166.9 million. The adjusted loss forecasted at 9 to 10 cents per share, a significant beat compared to the Street consensus forecast of a 16-cent loss. For the full fiscal year ending in January, Asana anticipates revenue between $648.5 million and $649.5 million, with a projected loss of 26 to 27 cents per share. This outlook represents an upward revision from the previous guidance of $642 million to $648 million in revenue and a loss of 39 to 42 cents per share.

Analysts Raise Price Targets for Costco Amid Positive Outlook

Morgan Stanley’s Josh Baer maintained an Equal-Weight rating and lowered the price target from $23 to $21.
Oppenheimer’s George Iwanyc reiterated an Outperform rating and a $28 price target.
HSBC’s Stephen Bersey downgraded from Hold to Reduce and maintained the price target at $18.
Piper Sandler’s Brent Bracelin reiterated an Underweight rating and a $16 price target.

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

Analyst Brent Bracelin (PIPER SANDLER) currently has the highest performing score on ASAN with 11/17 (64.71%) price target fulfillment ratio. His price targets carry an average of $7.21 (23.46%) potential upside. Asana stock price reaches these price targets on average within 55 days.

MongoDB’s Q4 Earnings Fail to Satisfy Sky-High Investor Expectations

MongoDB reported revenues soaring by 30% year-over-year to $432.9 million versus the consensus estimate of $406.34 million. The cloud-based database software provider’s adjusted profits of 96 cents per share surpassed expectations, more than doubling the guidance range of 47 to 50 cents and outshining the Wall Street consensus of 51 cents. However, under generally accepted accounting principles, MongoDB reported a loss of 41 cents per share for the quarter.

While the company’s guidance for the January 2024 fiscal year projects revenue between $1.654 billion and $1.658 billion, marking an upward revision from the previous range of $1.596 billion to $1.608 billion, and adjusted profits of $2.89 to $2.91 per share, exceeding Wall Street’s projections, the market response was somewhat tepid. Guggenheim analyst Howard Ma, in a pre-quarter research note, anticipated MongoDB to surpass Street consensus, but the fourth-quarter revenue guidance fell short of his expectations, highlighting MongoDB’s position as one of the world’s most expensive enterprise software stocks.

Analysts Adjusted Ratings and Targets Following Earnings Report

Barclays analyst Raimo Lenschow maintained an Overweight rating and raised the price target from $470 to $478.
Needham analyst Mike Cikos reiterated a Buy rating and increased the price target from $445 to $495.
Piper Sandler analyst Brent Bracelin kept an Overweight rating and raised the price target from $425 to $500.

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

Analyst David Hynes (CANACCORD) currently has the highest performing score on MDB with 10/12 (83.33%) price target fulfillment ratio. His price targets carry an average of $58.32 (20.97%) potential upside. MongoDB stock price reaches these price targets on average within 72 days.

SentinelOne’s Q3 Fiscal Year 2024 Performance

SentinelOne reported financial results for the third quarter of fiscal year 2024. The company’s revenue witnessed a 42% increase, reaching $164 million surpassing the consensus estimate of $156.09 million. The Annual Recurring Revenue grew by 43%, totaling $664 million. Noteworthy is the acceleration in the net new ARR growth rate, surpassing expectations at 11% year-over-year. The company also achieved a record-high gross margin of 79%, showcasing an 8% year-over-year improvement. The operating margin experienced its ninth consecutive quarter of expansion, reaching negative 11% with a 32 percentage point improvement. Operating losses were reduced by over 60%, narrowing down to negative $18 million in Q3 from negative $50 million in the corresponding period last year.

Looking ahead, the company is optimistic about its fiscal year 2024 performance, raising revenue expectations to approximately $616 million, reflecting a substantial 46% year-over-year growth.

Analysts Raise Price Targets Across the Board

Raymond James analyst Adam Tindle maintained a Strong Buy and raised the price target from $22 to $26.
Morgan Stanley analyst Hamza Fodderwala reiterated an Overweight rating and increased the price target from $20 to $25.
JMP Securities analyst Trevor Walsh maintained a Market Outperform rating and raised the price target from $22 to $33.

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

Analyst Saket Kalia (BARCLAYS) currently has the highest performing score on S with 12/15 (80%) price target fulfillment ratio. His price targets carry an average of $3.33 (15.09%) potential upside. SentinelOne stock price reaches these price targets on average within 58 days.