Selected stock price target news of the day - May 16th, 2024

By: Matthew Otto

Home Depot Reports EPS Beat but Revenue Miss in Q1 2024

Home Depot announced its first quarter earnings per share of $3.63, surpassing analysts’ estimates by $0.03. However, Home Depot reported a miss on revenue, with $36.42 billion for the quarter compared to the consensus estimate of $36.66 billion.

Comparable sales experienced a 2.8% decline year-over-year, with U.S. stores specifically facing a negative of 3.2%. Diluted earnings per share for the quarter were $3.63, down from $3.82 in the first quarter of the previous year.

Home Depot anticipates total sales growth of approximately 1.0%, with the 53rd week expected to contribute roughly $2.3 billion to total sales. Comparable sales are projected to decline by approximately 1.0% over the 52-week period, while approximately 12 new stores are slated for opening.

Gross margin forecasted to be approximately 33.9%, with an operating margin of around 14.1%. The tax rate is expected to hover at approximately 24.5%, with net interest expense estimated at $1.8 billion. Moreover, the 53-week diluted earnings-per-share-percent growth is anticipated to be approximately 1.0%, with the 53rd week contributing approximately $0.30 to diluted earnings per share.

Analysts Adjust Price Targets Amid Market Conditions

HSBC analyst Daniela Bretthauer maintained a Reduce rating and lowered the price target from $323 to $318.
TD Cowen analyst Max Rakhlenko maintained a Buy rating but lowered the price target from $440 to $420.
Raymond James analyst Bobby Griffin reiterated a Market Perform rating.
UBS analyst Michael Lasser reiterated a Buy rating and downgraded the price target from $411 to $400.
Truist Securities analyst Scot Ciccarelli kept a Buy rating and downgraded the price target from $417 to $406.
Evercore ISI Group analyst Greg Melich maintained an Outperform rating but lowered the price target from $420 to $390.

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

Analyst Steven Shemesh (RBC) currently has the highest performing score on HD with 2/3 (66.67%) price target fulfillment ratio. His price targets carry an average of $5.4 (1.45%) potential upside. Home Depot stock price reaches these price targets on average within 5 days.

Monday.com Surges on Q1 Earnings, Raises Revenue Guidance for 2024

Monday.com reported adjusted earnings of 61 cents per share, compared to the anticipated 40 cents per share, while its revenue of $216.9 million outstripped the estimated $210.5 million. Notably, Monday.com experienced a surge in the number of paid customers generating more than $50,000 in annual recurring revenue, which increased by 48% year-over-year to reach 2,491. Moreover, Monday.com achieved a record free cash flow of $89.9 million during the quarter.

Looking forward, Monday.com anticipates revenue in the range of $226 to 230 million, exceeding the consensus estimate of $225.2 million. Furthermore, for the fiscal year 2024, Monday.com projects revenue between $942 and 948 million, surpassing the consensus estimate of $934.6 million.

Analysts Bullish as Price Targets Raised Across the Board

Oppenheimer analyst George Iwanyc maintained an Outperform rating and raised the price target from $240 to $250.
Goldman Sachs analyst Kash Rangan maintained a Buy rating and increased the price target from $270 to $300.
Keybanc analyst Jackson Ader reiterated an Overweight rating while raising the price target from $275 to $280.
Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and upgraded the price target from $250 to $270.
Needham analyst Scott Berg maintained a Buy rating and raised the price target from $230 to $250.

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

Analyst Brent Thill (JEFFERIES) currently has the highest performing score on MNDY with 6/7 (85.71%) price target fulfillment ratio. His price targets carry an average of $16.78 (10.28%) potential upside. Monday.com stock price reaches these price targets on average within 47 days.

Dynatrace Q4 Fiscal 2024 Earnings Below Expectations, Offers Cautious Guidance for 2025

Dynatrace has released its fourth-quarter earnings for fiscal 2024, reporting a quarterly EPS of $0.30, which was $0.03 better than the analyst estimate of $0.27. Revenue for the quarter came in at $381 million, missing the consensus estimate of $375.27 million.

Looking forward, Dynatrace’s guidance for the first quarter of 2025 anticipates an EPS in the range of $0.29 to $0.30, compared to the consensus estimate of $0.30, with revenue forecasted to be between $391 million and $393 million, below the consensus estimate of $393.6 million.

For Fiscal Year 2025, Dynatrace expects an EPS of $1.26 to $1.29, falling short of the consensus estimate of $1.32, while revenue is projected to range from $1.64 billion to $1.65 billion, below the consensus estimate of $1.68 billion.

Analysts Offer Varied Outlooks Following Q4 Earnings

Wedbush analyst Taz Koujalgi reiterated a Neutral rating and a $55 price target.
Truist Securities analyst Joel Fishbein maintained a Buy rating while lowering the price target from $70 to $60.
Baird analyst William Power maintained an Outperform rating and lowered the price target from $65 to $62.
Needham analyst Mike Cikos reiterated a Hold rating.

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

Analyst Brent Thill (JEFFERIES) currently has the highest performing score on DT with 10/11 (90.91%) price target fulfillment ratio. His price targets carry an average of $18.25 (35.27%) potential upside. Dynatrace Holdings stock price reaches these price targets on average within 86 days.