Selected stock price target news of the day - February 13th, 2024

By: Matthew Otto

 

Monday.com Surpasses Expectations with Q4 Performance and Optimistic Outlook

Monday.com has demonstrated growth, with fourth-quarter revenue reaching $202.6 million, representing a 35% increase from the previous year. This figure exceeded both Wall Street’s consensus estimate of $198 million and the company’s own guidance range of $196 million to $198 million. Moreover, the company reported earnings of 65 cents per share, nearly double the Street consensus of 32 cents, while operating income soared to $21.2 million, above the projected range of $7 million to $9 million. 

Looking forward, Monday.com forecasts first-quarter revenue to range between $207 million and $211 million, with anticipated free cash flow of $56 million to $60 million, surpassing consensus estimates. For the full year of 2024, the company expects revenue to range from $926 million to $932 million, with projected free cash flow between $200 million and $206 million. 

 

Analysts Bullish as Price Targets Surge

  • Needham analyst Scott Berg reiterated a Buy rating and a $230 price target.
  • Piper Sandler analyst Brent Bracelin maintained an Overweight rating and a $250 price target.
  • Keybanc analyst Jason Celino maintained an Overweight rating and raised the price target from $238 to $242.
  • Oppenheimer analyst Ittai Kidron kept an Outperform rating and increased the price target from $220 to $240.

 

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

Analyst Brent Thill (JEFFERIES) currently has the highest performing score on MNDY with 7/8 (87.5%) price target fulfillment ratio. His price targets carry an average of $53.21 (30.10%) potential upside. Monday.com stock price reaches these price targets on average within 45 days. 

 

 

 

Lattice Reports Mixed Q4 2023 Earnings Amid Industry Headwinds

Lattice Semiconductor announced its fourth-quarter 2023 earnings, reporting a record full-year revenue of $737.2 million. This marks a 12% increase over 2022. However, in the fourth quarter alone, revenue dipped to $170.6 million, down 11% sequentially and 3% year-over-year. Despite this setback, Lattice maintained a gross margin of 70.4% for the full year, showcasing a 130 basis points improvement over the previous year. The company also achieved a 15% year-over-year growth in earnings per diluted share, reaching $2.01 for the full year.

Looking ahead, Lattice Semiconductor guidance for the first quarter of 2024, projecting revenue to range between $130 million and $150 million, with a gross margin of 69%, plus or minus 1%. Operating expenses are expected between $54 million and $56 million. 

 

Analysts Mixed Ratings and Price Target Adjustments

  • Needham analyst Quinn Bolton reiterated a Buy rating and a $75 price target.
  • Keybanc analyst John Vinh maintained an Overweight rating and raised the price target from $80 to $85.
  • Benchmark analyst David Williams kept a Buy rating and lowered the price target to $80.
  • Stifel analyst Ruben Roy maintained a Hold rating and lowered the price target from $70 to $67.
  • BofA Securities analyst Blake Friedman raised the price target to $75.

 

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

Analyst John Vinh (KEYBANK) currently has the highest performing score on LSCC with 6/8 (75%) price target fulfillment ratio. His price targets carry an average of $54.39 (97.81%) potential upside. Lattice Semiconductor stock price reaches these price targets on average within 43 days.

 

 

 

Cadence Reports Fiscal Year 2023 Performance and Outlook for 2024

Cadence Design Systems announced its financial performance for the fourth quarter and fiscal year 2023, demonstrating growth across key metrics. In Q4 2023, the company reported a revenue of $1.069 billion, an increase from $900 million in Q4 2022. This growth trend continued throughout the fiscal year, with total revenue reaching $4.090 billion, up from $3.562 billion in 2022. Moreover, Cadence achieved an operating margin of 31% in Q4 2023 and 30% for the fiscal year. The company’s earnings per share also experienced an improvement, with diluted net income per share at $1.19 for Q4 2023 and $3.82 for the full fiscal year.

Looking forward to fiscal year 2024, Cadence expected revenue in the range of $4.55 billion to $4.61 billion. The company anticipates maintaining an operating margin in the range of 32% to 33%. Furthermore, it has a record backlog of $6.0 billion and current remaining performance obligations of $3.2 billion. 

 

Analyst Actions and Price Target Adjustments

  • Needham analyst Charles Shi maintained a Buy rating and raised the price target from $315 to $320.
  • Keybanc analyst Jason Celino maintained an Overweight rating and increased the price target from $325 to $335.
  • Wolfe Research analyst Gal Munda reiterated an Outperform rating and raised the price target from $300 to $320.
  • Baird analyst Jon Vruwink raised the price target to $302.

 

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

Analyst Blair Abernethy (ROSENBLATT) currently has the highest performing score on CDNS with 10/10 (100%) price target fulfillment ratio. His price targets carry an average of $27.59 (11.62%) potential upside. Cadence Design Systems stock price reaches these price targets on average within 48 days.

 

 

 

Daily stock Analysts Top Price Moves Snapshot