Selected stock price target news of the day - November 29th, 2023

By: Matthew Otto

 

Workday Surpasses Expectations with Q3 Results

Workday fiscal third quarter ending in October reported a revenue of $1.87 billion, marking a 17% surge from the previous year. This not only surpassed the company’s own guidance range of $1.843 billion to $1.845 billion but also the Street consensus tracked by FactSet, which stood at $1.85 billion. Adjusted profits per share stood at $1.53, surpassing the Wall Street consensus of $1.41.

 

Workday’s success lies in its subscription revenue, which witnessed an 18% growth, reaching $1.69 billion—a figure that exceeded the company’s own forecast of 17% growth. The subscription backlog for Workday also soared to $18.45 billion, indicating a 30.9% increase from the same period in the preceding year. Looking ahead to the fiscal year ending in January 2024, Workday has raised the bar for subscription revenue forecasts to $6.598 billion, surpassing its earlier projection range of $6.57 billion to $6.59 billion. Consensus estimates for the total revenue in the same period stand at $7.2 billion, with an anticipated non-GAAP profit of $5.61 per share.

 

Analysts Bullish on Workday as Price Targets Surges

  • Citigroup analyst Steven Enders maintained a Neutral rating and raised the price target from $236 to $270.
  • Wells Fargo analyst Michael Turrin reiterated an Overweight rating and increased the price target from $280 to $300.
  • JP Morgan analyst Mark Murphy kept an Overweight rating and raised the price target from $245 to $260.
  • Barclays analyst Raimo Lenschow maintained an Overweight rating and raised the price target from $249 to $274.
  • Needham analyst Scott Berg remained with a Buy rating and upgraded the price target from $250 to $300.
  • Piper Sandler analyst Brent Bracelin reiterated an Overweight rating and increased the price target from $275 to $300.

 

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

Analyst Brad Reback (STIFEL) currently has the highest performing score on WDAY with 14/17 (82.35%) price target fulfillment ratio. His price targets carry an average of $20.63 (9.99%) potential upside. Workday stock price reaches these price targets on average within 90 days. 

 

 

 

CrowdStrike Surpasses and Achieves Milestones in Q3 FY 2024

CrowdStrike reported in the third quarter of fiscal year 2024, a record net new Annual Recurring Revenue of $223 million, marking a 13% year-over-year growth from new and expansion business. This propelled CrowdStrike beyond the $3 billion ARR milestone, reaching an ending ARR of $3.15 billion—a 35% increase compared to the previous year. 

 

CrowdStrike reported a free cash flow of $239 million, representing a 30% free cash flow margin. In Q3, CrowdStrike saw a 96% year-over-year growth in operating income, reaching $175.7 million, and achieved an operating margin of 22%. The company’s commitment to innovation and disciplined growth is underscored by its aggressive investment strategy, aiming for a target model that includes subscription gross margin of 82% to 85%, operating margin of 28% to 32%, and a free cash flow margin of 34% to 38% within the next three to five years.

 

Analysts Bullish on CrowdStrike: Raised Price Targets 

  • Oppenheimer’s Ittai Kidron maintained an Outperform rating and raised the price target to $240.
  • JP Morgan’s Brian Essex reiterated an Overweight rating and increased the price target to $230.
  • Needham’s Alex Henderson kept a Buy rating and raised the price target to $250.
  • Barclays’ Saket Kalia maintained an Overweight rating and raised the price target to $240.
  • Keybanc’s Eric Heath remained with an Overweight rating and raised the price target to $245.
  • BMO Capital’s Keith Bachman maintained an Outperform rating and increased the price target from $167 to $227.

 

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

Analyst Saket Kalia (BARCLAYS) currently has the highest performing score on CRWD with 15/21 (71.43%) price target fulfillment ratio. His price targets carry an average of $26.59 (17.69%) potential upside. CrowdStrike stock price reaches these price targets on average within 80 days.

 

 

 

Intuit Surpasses Revenue Expectations with AI-Infused Products

Intuit has surpassed Wall Street expectations in its first-quarter financial report. The company, with AI-infused products like TurboTax, Credit Karma, and QuickBooks, posted a revenue of $2.98 billion for the quarter ending October 31. This figure outshone analysts’ predictions, which averaged at $2.88 billion. Notably, the adjusted profit for the first quarter stood at $2.47 per share, surpassing analysts’ estimates of $1.98 per share.

 

Within their product portfolio, Credit Karma saw a marginal decline in revenue, slipping by 5% to $405 million during the reported quarter. On the flip side, the Consumer Group witnessed a rise of 25%, reaching a revenue of $187 million. Looking ahead, Intuit is optimistic about the future, projecting a second-quarter revenue growth of approximately 11% to 12%, closely aligning with analysts’ expectations of 11.9%.

 

Analysts Bullish on Intuit as Price Targets Soar

  • Oppenheimer’s Scott Schneeberger Maintained an Outperform rating and raised the price target from $530 to $610.
  • Citigroup’s Steven Enders Reiterated a Buy rating and increased the price target from $565 to $651.
  • Wells Fargo’s Michael Turrin Kept an Overweight rating and raised the price target from $575 to $615.
  • Barclays’ Raimo Lenschow Remained with Overweight rating and upgraded the price target from $570 to $660.
  • Piper Sandler’s Arvind Ramnani Reiterated an Overweight rating and a $642 price target.

 

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

Analyst Taylor Mcginnis (UBS) currently has the highest performing score on INTU with 3/3 (100%) price target fulfillment ratio. His price targets carry an average of $11 (2.31%) potential upside. Intuit stock price reaches these price targets on average within 5 days.

 

 

 

Daily stock Analysts Top Price Moves Snapshot