Selected stock price target news of the day - March 28th, 2024

By: Matthew Otto

RH Fiscal Q4 2023 Results: Revenue Impact, Growth Targets, and Strategic Investments

RH Fourth Quarter 2023 earnings conference call, facing a revenue impact of $40 million in the fourth quarter due to severe weather and shipping delays. Adjusted operating margin reaching 9.1% and 13% for the quarter and full year, respectively. Notably, RH repurchased 7.6 million shares of its stock during fiscal 2022 and 2023, representing approximately 35% of outstanding shares.

Looking ahead, RH outlined a growth trajectory, aiming for a doubling of sourcebook circulation and customer contacts in 2024 compared to 2023. The company plans to open five North American design galleries and two international galleries, investing in expanding its platform to address new markets.

Furthermore, RH forecasts demand growth of 12% to 14% and revenue growth of 8% to 10% for fiscal 2024. Anticipated adjusted operating margin in the range of 13% to 14% and adjusted EBITDA margin in the range of 18% to 19%.

Analysts Mixed Ratings Amidst Price Target Adjustments

JP Morgan analyst Christopher Horvers maintained an Overweight rating and raised the price target from $329 to $345.
Wedbush analyst Seth Basham reiterated a Neutral rating yet increased the price target from $275 to $320.
Telsey Advisory Group analyst Joseph Feldman kept a Market Perform rating but raised the price target from $285 to $335.

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

Analyst Seth Sigman (BARCLAYS) currently has the highest performing score on RH with 4/4 (100%) price target fulfillment ratio. His price targets carry an average of $50.99 (21.07%) potential upside. RH stock price reaches these price targets on average within 23 days.

Braze Reports Fiscal Year 2024 Results and Forecasts Continued Growth for 2025

Braze reported financial performance for its fiscal year ending January 31, 2024. Revenue surged by 32.7% year-over-year, reaching $471.8 million. Subscription revenue soared to $451.1 million, marking an increase from the previous fiscal year’s $338.4 million.

GAAP gross margin improved to 68.7%, up from 67.4% in the prior fiscal year, while non-GAAP gross margin rose to 69.5%, compared to 68.5% previously. GAAP operating loss is narrowed to $144.7 million, an improvement from $148.1 million in the preceding fiscal year. Non-GAAP operating loss saw a reduction, totaling $39.9 million, compared to $69.5 million in the previous fiscal year.

Looking forward, Braze projected revenue in the range of $570.0 million to $575.0 million. However, expects a non-GAAP operating loss between $(20.0) million and $(24.0) million for the fiscal year as it continues to invest in innovation and expansion initiatives.

Analysts Diverse Perspectives, Maintain Ratings and Price Targets

Oppenheimer analyst Brian Schwartz reaffirmed an Outperform rating and a $75 price target.
Canaccord Genuity analyst David Hynes maintained a Buy rating yet lowered the price target from $70 to $65.
Needham analyst Scott Berg reiterated a Buy rating and a $70 price target.
Piper Sandler analyst Brent Bracelin kept an Overweight rating and a $66 price target.

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

Analyst David Hynes (CANACCORD) currently has the highest performing score on BRZE with 7/10 (70%) price target fulfillment ratio. His price targets carry an average of $15.81 (29.18%) potential upside. Braze stock price reaches these price targets on average within 95 days.

Carnival Reports First-Quarter Earnings Amidst Operational Challenges

Carnival reported first-quarter earnings, with Carnival’s global team, contributing to over 17% year-over-year increase in yields and a $1.3 billion surge in customer deposits compared to the previous year. Investments totaling $1.8 billion in debt repayment already this year.

Furthermore, Carnival’s full-year guidance highlighted a forecasted capacity increase of 4.5% compared to 2023 and a net income projection of $1.28 billion, representing an $80 million improvement over previous guidance. Additionally, ongoing cost-saving initiatives, including the Maritime Asset Strategy Transformation system, are expected to generate over $250 million in savings.

Analysts Raise Price Targets Amid Positive Outlook

Barclays analyst Brandt Montour reiterated an Overweight rating and raised the price target from $24 to $25.
JP Morgan analyst Matthew Boss maintained an Overweight rating and lifted the price target from $22 to $23.
Macquarie analyst Paul Golding Held an Outperform rating and increased the price target from $22 to $24.

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

Analyst Christopher Stathoulopoulos (SUSQUEHANNA) currently has the highest performing score on CCL with 6/9 (66.67%) price target fulfillment ratio. His price targets carry an average of $4.97 (29.18%) potential upside. Carnival stock price reaches these price targets on average within 96 days.