Selected stock price target news of the day - March 12th, 2024

By: Matthew Otto

Oracle’s Q3 Performance: Surpasses Earnings Expectations with Growth in Cloud Services

Oracle delivered its fiscal third quarter, ending Feb. 29, with earnings per share coming in at $1.41, surpassing the expected $1.38. Recorded revenue of $13.28 billion, just marginally lower than the anticipated $13.3 billion.

Oracle’s cloud services and license support segment witnessed a 12% surge in sales, reaching $9.96 billion, fueled by demand for its artificial intelligence servers. Moreover, cloud revenue, reported within this segment, soared by 25% year over year to hit $5.1 billion. On the flip side, Oracle experienced a 3% decline in cloud license and on-premise sales, amounting to $1.26 billion, while hardware revenue dipped by 7% to $754 million. The services division also faced a setback with a 5% decrease in sales, totaling $1.31 billion.

Analysts Bullis: Price Targets Surge After Quarterly Results

UBS analyst Karl Keirstead maintained a Buy rating and raised the price target from $130 to $150.
Morgan Stanley analyst Keith Weiss maintained an Equal-Weight rating and raised the price target from $106 to $115.
Bernstein analyst Mark Moerdler reiterated an Outperform rating and increased the price target from $147 to $159.
Mizuho analyst Siti Panigrahi reiterated a Buy rating and increased the price target from $140 to $160.
BofA Securities analyst Brad Sills reiterated a Neutral rating and increased the price target from $122 to $144.
Jefferies analyst Brent Thill kept a Buy rating and upgraded the price target from $145 to $150.
JP Morgan analyst Mark Murphy kept a Neutral rating and upgraded the price target from $100 to $105.
Barclays analyst Raimo Lenschow maintained an Overweight rating and raised the price target from $140 to $147.
William Blair analyst Sebastien Naji upgraded from Market Perform to Outperform.
Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and increased the price target from $122 to $140.
Citigroup analyst Tyler Radke maintained a Neutral rating and raised the price target from $111 to $120.

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

Analyst Brent Bracelin (PIPER SANDLER) currently has the highest performing score on ORCL with 8/16 (50%) price target fulfillment ratio. His price targets carry an average of $17.94 (17.24%) potential upside. Oracle stock price reaches these price targets on average within 78 days.

Asana Reports Fiscal Year 2024 Performance Amidst Market Challenges

Asana held its Fourth Quarter and Fiscal Year 2024 Earnings Conference Call, showcasing revenue surging by 19% year-over-year, reaching a total of $652.5 million. A 29% growth in revenue from customers with annual spend exceeding $100,000, representing a portion of its total revenue. With over 2,200 new core customers acquired during the fiscal year, Asana’s total core customer base now stands at 21,646, underscoring continued market penetration.

Despite macroeconomic headwinds, Asana made strides in improving operational efficiency, evidenced by a 16-percentage-point enhancement in non-GAAP operating loss margin compared to the prior year. Asana reported a gross margin of 90.1% and achieved a reduction in net loss, totaling $10.1 million. Notably, Asana’s free cash flow saw an improvement of nearly $130 million year-over-year, positioning the company for sustained financial health.

Looking ahead, Asana aims to maintain its upward trajectory, eyeing a revenue range of $716 million to $722 million for fiscal year 2025 and targeting free cash flow positivity by year-end.

Analysts Offer Mixed Ratings and Price Targets

DA Davidson’s Robert Simmons maintained a Neutral rating and set a $20 price target.
Morgan Stanley’s Josh Baer also maintained an Equal-Weight rating but reduced the price target from $22 to $20.
Oppenheimer’s George Iwanyc remained bullish with an Outperform rating and a $28 price target.
HSBC’s Stephen Bersey reiterated a Reduce rating while lowering the price target from $18 to $16.
Piper Sandler’s Brent Bracelin reiterated an Underweight rating and a $18 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 13/21 (61.9%) price target fulfillment ratio. His price targets carry an average of $0.25 (1.41%) potential upside. Asana stock price reaches these price targets on average within 50 days.

Vail Resorts Reports Resilient Earnings Despite Challenging Weather Conditions

Vail Resorts, in its fiscal second-quarter 2024 earnings report, disclosed a challenging landscape marked by adverse weather conditions, with a staggering 42% decrease in snowfall across its western North American resorts compared to the prior year. Despite this, Vail Resorts managed to achieve a 8% increase in Resort EBITDA, reaching $425 million for the quarter, compared to $394.8 million in the same period last year. Season-to-date visitation figures revealed a decline of 9.7% compared to the prior year, reflecting the persistent impact of unfavorable weather conditions and lower guest turnout.

However, amidst these challenges, Vail Resorts remained buoyant, reporting a 2.6% increase in season-to-date total lift ticket revenue, reaching $1.2 billion, including a growth in ancillary businesses. Ski school revenue saw an uptick of 5.5%, while dining revenue experienced a slight downturn of 0.5%. Capex will be totaling approximately $214 million to $219 million, excluding the Crans-Montana acquisition.

Analysts Mixed Assessments with Adjusted Price Targets

Morgan Stanley analyst Megan Alexander maintained an Equal-Weight rating and lowered the price target from $248 to $242.
JP Morgan analyst Brandt Montour reiterated a Neutral rating and lowered the price target from $262 to $252.
Barclays analyst Brandt Montour kept an Underweight rating and downgraded the price target from $217 to $201.
Deutsche Bank analyst Chris Woronka maintained a Hold rating and lowered the price target from $253 to $240.

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

Analyst Brandt Montour (BARCLAYS) currently has the highest performing score on MTN with 6/7 (85.71%) price target fulfillment ratio. His price targets carry an average of $46.63 (19.98%) potential upside. Vail Resorts stock price reaches these price targets on average within 53 days.