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Piper Sandler just reiterated its overweight rating on Nvidia
Piper Sandler just raised its price target on NVDA, with a price target of $225 ahead of earnings. “We are expecting another positive quarter from NVDA and see upside to numbers for both the July and October quarters,” said the firm, as quoted by CNBC.
Analysts at Oppenheimer reiterated an outperform rating on Walmart, with a price target of $115 from $110. “Following a more difficult backdrop to start the year due to unexpected tariff and expense headwinds, we believe a positive guidance revision cycle could again materialize soon,” said the firm, as also quoted by CNBC.
The Nasdaq is pushing even higher.
Last trading at 23,995 in premarket, it could easily test 25,000 over the next few days.
Helping, inflation data was tamer than expected, cooling investor fears that tariffs are not having a substantial impact on prices. With the latest data, investors are also pricing in a 90% chance of an interest rate cut at the Federal Reserve’s September meeting.
The producer price index (PPI) report on wholesale inflation will be out at 8:30 am EST.
Piper Sandler just raised its price target on Nvidia ahead of earnings
Piper Sandler just raised its price target on Nvidia ahead of earnings, calling for the stock to hit $225 a share. The firm also has an overweight rating on the tech giant.
“We are expecting another positive quarter from NVDA and see upside to numbers for both the July and October quarters,” said the firm, as quoted by CNBC.
“While we are modeling largely in-line for the July quarter and slightly below Street for October, we are calling for upside given the recent positive commentary from U.S. hyper scalers as well as the inclusion of revenues from China,” added the firm.
Nvidia will release its quarterly numbers on August 27. Analysts are looking for EPS of $1 on revenue of $45.76 billion.
CoreWeave dropped on better-than-expected revenue
CoreWeave just posted better-than-expected revenue of $1.21 billion, which was ahead of estimates of $1.08 billion. Unfortunately, its EPS loss of 60 cents was greater than expectations for a loss of 23 cents, as noted by Barron’s.
“Our strong second-quarter performance demonstrates continued momentum across every dimension of our business,” CoreWeave CEO Michael Intrator said in its press release. “We are scaling rapidly as we look to meet the unprecedented demand for AI.”
Moving forward, the company expects for current quarter revenue to range from $1.26 billion to $1.3 billion, which is ahead of estimates of $1.25 billion. For the full year, the company expects for revenue to range from $ 5.15 billion to $5.35 billion, which is above expectations for $5.05 billion revenue.
Stock Upgrade: Palo Alto Networks (PANW)
Ahead of earnings on August 18, PANW saw two upgrades. Both Piper Sandler and Deutsche Bank upgraded their ratings for PANW to a buy rating. Piper Sandler raised its price target to $225 from $200. Deutsche Bank raised its target to $220 from $200.
After tacking on $7.23 just yesterday, PANW is up another $3 in premarket.
Plus, according to Wedbush analysts, PANW’s recent $25 billion acquisition of CyberArk could reshape the cybersecurity market.
“We view this move as a strategic home run deal by PANW to strengthen its platformization strategy with PANW on the acquisition hunt further to build an all-in-one shop for all cyber solutions to battle the rising threats from AI while injecting this technology into its broader portfolio,” said Wedbush analysts, as quoted by Seeking Alpha.
“This represents a key strategic poker move by the cyber stalwart with the expanding competitive landscape within cyber as PANW brings on the most dominant player within the Privileged Access Management space.”
The post Nasdaq Composite Live: Index Heading to Higher Highs appeared first on 24/7 Wall St..
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Author: Ian Cooper
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