Selected stock price target news of the day - March 4th, 2024

By: Matthew Otto

Autodesk Q4 Results and Bullish Fiscal 2025 Guidance

Autodesk posted an EPS of $2.09, surpassing analyst expectations of $1.95, and recorded a quarterly revenue of $1.47 billion, outshining the anticipated $1.43 billion. The non-GAAP operating margin held at 36%, a noteworthy stability compared to the same period the previous year.

Looking ahead, Autodesk provided guidance for the first quarter of 2025, with projected EPS in the range of $1.73 to $1.78, aligning with the higher end of the analyst consensus of $1.78. Revenue for the same period is expected to fall between $1.385 billion and $1.4 billion, slightly below the $1.389 billion expected by analysts.

For the entire fiscal year 2025, Autodesk anticipates an EPS ranging from $7.89 to $8.11, surpassing analysts’ expectations of $8.11. The revenue forecast for the year is set between $5.99 billion and $6.09 billion, slightly above the consensus estimate of $5.978 billion.

Analysts Bullish as Price Targets Surge Following Performance

Keybanc analyst Jason Celino maintained an Overweight rating and raised the price target from $275 to $320.
Oppenheimer analyst Ken Wong reiterated an Outperform rating and increased the price target from $265 to $315.
RBC Capital analyst Matthew Hedberg maintained an Outperform rating and raised the price target from $290 to $320.
Mizuho analyst Matthew Broome maintained a Neutral rating and raised the price target from $220 to $270.
Goldman Sachs analyst Kash Rangan reiterated a Sell rating and increased the price target from $180 to $230.
BMO Capital analyst Daniel Jester kept a Market Perform rating and upgraded the price target from $232 to $293.
Stifel analyst Adam Borg reiterated a Buy rating and increased the price target from $265 to $316.
Barclays analyst Saket Kalia kept an Overweight rating and upgraded the price target from $300 to $310.
Piper Sandler analyst Clarke Jeffries maintained a Neutral rating and raised the price target from $234 to $260.

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

Analyst Kenneth Wong (OPPENHEIMER) currently has the highest performing score on ADSK with 9/10 (90%) price target fulfillment ratio. His price targets carry an average of $12.48 (4.94%) potential upside. Autodesk stock price reaches these price targets on average within 217 days.

Zscaler Reports Q2 Fiscal Year 2024 Results: Revenue Up 35% Year-Over-Year

Zscaler announced financial results for the second quarter of fiscal year 2024. The company reported a 35% year-over-year increase in revenue, totaling $525 million for the quarter, better than the consensus estimate of $507.58 million.

Operating profit more than doubled compared to the previous year, reaching 19.6% margin. Additionally, Zscaler experienced a 27% growth in total billings year-over-year, amounting to $628 million for the quarter. The company is further underscored by its cash reserves, totaling over $2.4 billion as of the end of the quarter.

Zscaler anticipates revenue in the range of $2.118 billion to $2.122 billion for the full year, reflecting a year-over-year growth rate of approximately 31%. Operating profit is forecasted to be in the range of $395 million to $400 million, demonstrating significant margin improvement compared to the previous year.

Analysts Offer Mixed Outlook as Price Targets Adjust

Baird analyst Shrenik Kothari maintained an Outperform rating and raised the price target from $255 to $265.
JMP Securities analyst Trevor Walsh reiterated a Market Outperform rating and a $270 price target.
Cantor Fitzgerald analyst Yi Fu Lee reiterated a Neutral rating and lowered the price target from $250 to $230.
Barclays analyst Saket Kalia maintained an Overweight rating and lowered the price target from $259 to $240.
BMO Capital analyst Keith Bachman kept an Outperform rating and downgraded the price target from $268 to $255.
Wedbush analyst Daniel Ives kept an Outperform rating and raised the price target from $250 to $260.
Needham analyst Alex Henderson reiterated a Strong Buy rating and a $290 price target.
Bernstein analyst Peter Weed maintained an Outperform rating and lowered the price target from $311 to $280.

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

Analyst Keith Bachman (BMO) currently has the highest performing score on ZS with 15/18 (83.33%) price target fulfillment ratio. His price targets carry an average of $35.77 (16.32%) potential upside. Zscaler stock price reaches these price targets on average within 99 days.

Pactiv Evergreen Reports Performance: Q4 2023 Reveals Resilience Amidst Revenue Decline

In the fourth quarter of 2023, Pactiv Evergreen reported total net revenues of $1,274 million, indicating a 14% decrease from the $1,476 million recorded in the same quarter of 2022. Net income from continuing operations for the same period stood at $22 million, compared to $27 million in Q4 2022.

Adjusted EBITDA reached $207 million, an increase from the $167 million reported in the fourth quarter of 2022. Diluted earnings per share from continuing operations were $0.12, down from $0.15 in Q4 2022, while Adjusted EPS saw an increase to $0.33, up from $0.17 in the same period last year.

For the full year 2023, Pactiv Evergreen reported total net revenues of $5,510 million, reflecting an 11% decrease from the prior year’s $6,220 million. The company incurred a net loss of $222 million from continuing operations for the year, a shift from the net income of $319 million reported in 2022.

Despite the challenging year, Pactiv Evergreen achieved an Adjusted EBITDA of $840 million for 2023, surpassing the prior year’s figure of $785 million. Diluted loss per share from continuing operations for the year was $1.28, compared to diluted earnings per share of $1.77 in 2022, while Adjusted EPS increased to $0.96 from $0.81 in the prior year.

Analysts’ Adjustments Reflect Diverse Market Perspectives

Citigroup analyst Anthony Pettinari maintained a Buy rating and lowered the price target from $16 to $15.
Goldman Sachs analyst Adam Samuelson reiterated a Neutral rating and raised the price target from $12.5 to $14.
Baird analyst Ghansham Panjabi also reiterated a Neutral rating and increased the price target from $12 to $15.

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

Analyst Arun Viswanathan (RBC) currently has the highest performing score on PTVE with 9/10 (90%) price target fulfillment ratio. His price targets carry an average of $2.44 (23.11%) potential upside. Pactiv Evergreen stock price reaches these price targets on average within 166 days.