Selected stock price target news of the day - March 7th, 2024

By: Matthew Otto

Foot Locker Quarterly Beat; Fiscal 2025 Outlook Misses Expectations

Foot Locker exceeding Wall Street’s expectations in its fourth-quarter performance, with adjusted earnings per share of 38 cents and sales reaching $2.38 billion. Same-store sales witnessed a marginal decrease of 0.7%. Less favorite reaction was attributed to strategic initiatives such as repositioning the Champs Sports banner and adjusting the vendor mix, amidst prevailing consumer softness.

Looking ahead, Foot Locker’s fiscal 2025 outlook presents a mixed picture, with sales growth projected to range from a negative 1% to up 1%, alongside adjusted earnings per share estimated between $1.50 to $1.70. However, these figures fall short of analysts’ expectations, with a consensus estimate of $1.86 per share for the fiscal year ending February 1, 2025.

Despite these challenges, Foot Locker remains committed to its long-term strategy, outlined in the Lace Up plan. This plan aims to drive sustainable growth and value creation for stakeholders, albeit facing a two-year delay in achieving the targeted earnings before interest and taxes margin of 8.5%-9%, now slated for attainment by 2028.

Mixed Analyst Ratings as Price Targets Adjust Amidst Volatility

Piper Sandler analyst Abbie Zvejnieks maintained an Overweight rating and lowered the price target from $37 to $31.
Barclays analyst Adrienne Yih maintained an Equal-Weight rating and lowered the price target from $26 to $22.
Guggenheim analyst Robert Drbul reiterated a Buy rating and downgraded the price target from $35 to $30.
BofA Securities analyst Lorraine Hutchinson kept a Neutral rating and decreased the price target from $31 to $27.
Telsey Advisory Group analyst Cristina Fernandez downgraded from Outperform to Market Perform and the price target from $38 to $28.

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

Analyst Abbie Zvejnieks (PIPER SANDLER) currently has the highest performing score on FL with 3/4 (75%) price target fulfillment ratio. His price targets carry an average of $1.85 (5.26%) potential upside. Foot Locker stock price reaches these price targets on average within 43 days.

HashiCorp Reports Fiscal 2024 Fourth Quarter Results, Eyes Continued Growth in Fiscal 2025

HashiCorp reported financial performance for the fourth quarter of fiscal 2024, showcasing year-over-year growth figures. With revenues reaching $156 million, representing a 15% increase compared to the previous year, exceeded both top and bottom-line expectations.

Notably, HashiCorp’s non-GAAP remaining performance obligations surged to $483 million, marking a 21% year-over-year growth.

Looking ahead to fiscal 2025, HashiCorp anticipates continued momentum, with expectations set for total revenue in the range of $643 million to $647 million. Despite forecasting a non-GAAP operating loss in the range of $46 million to $43 million for the fiscal year, HashiCorp remains in its ability to achieve positive free cash flow generation.

Analysts Remain Bullish as Price Targets Receive Upward Revisions

Needham analyst Alex Henderson reiterated a Buy rating and a $30 price target.
TD Cowen analyst Derrick Wood maintained a Market Perform rating and raised the price target from $23 to $26.
BofA Securities analyst Brad Sills maintained a Neutral rating and raised the price target from $24 to $28.
Stifel analyst Brad Reback reiterated a Buy rating and increased the price target from $26 to $28.
Piper Sandler analyst James Fish reiterated a Neutral rating and increased the price target from $22 to $25.
Oppenheimer analyst Ittai Kidron kept an Outperform rating and a $34 price target.
BTIG analyst Gray Powell maintained a Buy rating and upgraded the price target from $25 to $27.

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

Analyst J. Derrick Wood (TD COWEN) currently has the highest performing score on HCP with 1/4 (25%) price target fulfillment ratio. His price targets carry an average of $2.19 (10.52%) potential upside. HashiCorp stock price reaches these price targets on average within 6 days.

AudioEye Reports Tripled Revenue and Positive Free Cash Flow in Q4 2023 Earnings Call

AudioEye showcased financial results during its Fourth Quarter and Full Year 2023 Earnings Conference Call. Revenue tripled since 2019 and a revenue increase of 5% year-over-year, totaling $31.3 million for the full year. Operating efficiency saw enhancements, with growth margins soaring to the high 70s and adjusted EBITDA margins rising to 17% in the fourth quarter. Furthermore, the company reported an achievement of positive free cash flow for the first time in Q4 2023, generating $900,000.

In terms of customer acquisition, AudioEye showcased approximately 110,000 paying customers by the end of 2023, marking an increase of approximately 24,000 customers from the previous year. Additionally, the company revealed an Annual Recurring Revenue growth of approximately $700,000 sequentially, with ARR reaching $31.2 million by the end of Q4 2023.

Moreover, strategic moves such as a $7 million term loan from SG Credit Partners and stock buybacks totaling approximately 576,000 shares underscored AudioEye’s commitment to strengthening its financial position. Looking forward, AudioEye provided guidance for Q1 2024, projecting revenue between $8 million and $8.1 million, and anticipates continued revenue growth and adjusted EBITDA improvement throughout the year.

Analysts Raise Price Targets Amid Bullish Outlook

B. Riley Securities analyst Zach Cummins maintained a Buy rating and raised the price target from $8 to $10.
HC Wainwright & Co. analyst Scott Buck reiterated a Buy rating and increased the price target from $8 to $10.
Craig-Hallum analyst George Sutton raised price target to $10.

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

Analyst Zach Cummins (B.RILEY) currently has the highest performing score on AEYE with 4/8 (50%) price target fulfillment ratio. His price targets carry an average of $2.86 (55.64%) potential upside. AudioEye stock price reaches these price targets on average within 181 days.