Index Investing News
Friday, May 30, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Top analysts are bullish on stocks like Snowflake & Salesforce

by Index Investing News
March 13, 2023
in Markets
Reading Time: 5 mins read
A A
0
Home Markets
Share on FacebookShare on Twitter


Clifton Pemble, President and CEO, Garmin at the NYSE December 7, 2021.

Source: NYSE

Investors have no shortage of worries, be it the economy slipping into a recession due to higher interest rates or the havoc that whiplashed financial stocks last week.

Nevertheless, there are buying opportunities for those who know where to look.

related investing news

CNBC Pro

Here are five stocks to weather the storm, according to Wall Street’s top professionals on TipRanks, a platform that ranks analysts based on their past performance.

Snowflake

Cloud companies are experiencing a marked slowdown in their growth rates as macro challenges affect enterprise spending. Despite the ongoing pressures, cloud-based data warehouse company Snowflake (SNOW) delivered upbeat quarterly results.

Snowflake expects its product revenue to grow by 40% in fiscal 2024, marking a deceleration from the 70% rise recorded in fiscal 2023 (ended Jan. 31, 2023). Nonetheless, Snowflake continues to be optimistic about its growth in the years ahead and expects to achieve its product revenue target of $10 billion in fiscal 2029.

Deutsche Bank analyst Brad Zelnick agrees that Snowflake is “not immune from cloud growth moderation.” (See Snowflake Blogger Opinions & Sentiment on TipRanks)

That said, Zelnick reiterated a buy rating on Snowflake with a price target of $170, saying, “We still firmly believe the long-term outlook remains intact for Snowflake, with its unique multi-cloud architecture, rich platform features, data sharing capabilities and native app development tools positioning it to capture the massive Data Cloud opportunity.”

Zelnick ranks 85th out of more than 8,000 analysts followed on TipRanks. His ratings have been profitable 69% of the time, generating a 14.9% average return.

Salesforce

Let’s move to another cloud company, Salesforce (CRM), which recently reported solid results for the fourth quarter of fiscal 2023 (ended Jan. 31, 2023). The company expects fiscal 2024 revenue to grow by about 10%. While that number indicated a slowdown compared to the 18% growth seen in fiscal 2023, it did come in ahead of analysts’ estimates.

Moreover, Wall Street experts welcomed the company’s profitability projections. Salesforce has been under pressure from several activist investors, including Elliott Management and Starboard Value, to improve its profitability. (See Salesforce Insider Trading Activity on TipRanks)

Mizuho analyst Gregg Moskowitz, who holds the 264th position among more than 8,000 analysts on TipRanks, said that he is “encouraged by the recent activism in CRM over recent months.” The analyst also highlighted the company’s restructuring efforts and its fiscal 2024 operating margin outlook of 27%, which he observed was “even well above the most bullish expectations.”

“Notwithstanding macro challenges, we reiterate that CRM remains well situated to help its vast customer base manage revenue and process optimization via digital transformation,” said Moskowitz.    

Moskowitz reaffirmed a buy rating and raised his price target for CRM stock to $225 from $200. Per TipRanks, 55% of Moskowitz’s ratings have generated profits, with each rating bringing in a return of 13.1%, on average.

Hibbett

Next on our list is athletic goods retailer Hibbett (HIBB), which sells footwear, apparel and equipment from top brands like Nike and Adidas. The company’s fiscal 2023 fourth-quarter results missed expectations due to macro pressures, higher costs, supply chain issues and increased promotional activity.

Hibbett expects mid-single-digit sales growth in fiscal 2024, driven by its assortment of high-demand footwear. Also, the company is conducting a “systematic review” of its operating expense structure to improve profitability. (See Hibbett Stock Chart on TipRanks)

Williams Trading analyst Sam Poser highlighted that Hibbett’s relationships with key brands, mainly Nike, are very strong. Additionally, the analyst thinks that the retailer has “the best in class omni-channel, consumer facing operation” in his coverage, which is reflected by the 21.4% rise in digital sales in the fiscal fourth quarter.

Poser lowered his fiscal 2024 and fiscal 2025 earnings per share estimates, given that the company’s recent results lagged guidance. Nonetheless, he reiterated a buy rating on Hibbett and a price target of $82 because he is “confident that HIBB’s guidance is far more realistic, prudent, and conservative than it has been in some time.”

Poser is ranked No. 144 among more than 8,000 analysts tracked on TipRanks. His ratings have been profitable 55% of the time, with each rating delivering a return of 17.6%, on average.

Zscaler

Cybersecurity company Zscaler‘s (ZS) fiscal second-quarter results crushed the Street’s expectations, with a 52% increase in revenue.

Nevertheless, ZS stock fell as investors seemed concerned about the company’s billings guidance of about a 9% sequential decline in the fiscal third quarter, compared to the mid-single digit declines seen over the last few years. Delays in large deals due to macro woes impacted the company’s outlook.

TD Cowen analyst Shaul Eyal remains bullish about Zscaler and reiterated a buy rating with a price target of $195 following the results. “In our view, despite macro uncertainty and elevated deal scrutiny, ZS occupies a strong competitive position as it addresses a $72B market opportunity,” said Eyal.      

The analyst thinks that the company is well positioned to achieve its longer-term targets, including annual recurring revenue of $5 billion, operating margin of 20% to 22%, and free cash flow margin of 22% to 25%. (See Zscaler Hedge Fund Trading Activity on TipRanks)

Eyal holds the 15th position among more than 8,000 analysts on TipRanks. Additionally, 66% of his ratings have been profitable, with an average return of 24.1%.

Garmin

Garmin (GRMN) is a leading provider of GPS-enabled-based devices and applications. Last month, the company reported a decline in its fourth-quarter revenue due to currency headwinds and lower demand for its fitness products.

Tigress Financial analyst Ivan Feinseth expects the company’s ongoing innovation and new launches, strength in aviation, and growing opportunities in wellness and automotive OEM (original equipment manufacturer) businesses to reaccelerate trends.  

Feinseth is particularly confident about Garmin emerging as an industry-leading automotive OEM supplier. The company’s automotive OEM revenue increased by 11% to $284 million in 2022. The analyst expects the automotive segment to see annual growth of 40%, reaching a revenue run rate of $800 million by 2025. He expects this growth to be led by the company’s industry-leading product categories of in-cabin domain controllers, infotainment systems and other in-cabin connected interfaces.

Feinseth, who ranks 189th on Tipranks, reiterated a buy rating on Garmin stock with a price target of $165. The analyst’s ratings have been profitable 62% of the time, with an average return of 12.2%. (See Garmin Financial Statements on TipRanks)



Source link

Tags: AnalystsBullishSalesforceSnowflakeStocksTop
ShareTweetShareShare
Previous Post

Headwater Exploration: Rapid Growth Likely To Continue (OTCMKTS:CDDRF)

Next Post

Usefulness of a Non-Lying Strategy: Two Examples

Related Posts

What to search for when Signet Jewelers (SIG) stories Q1 2026 earnings outcomes

What to search for when Signet Jewelers (SIG) stories Q1 2026 earnings outcomes

by Index Investing News
May 30, 2025
0

Shares of Signet Jewelers Restricted (NYSE: SIG) have been down 1% on Friday. The inventory has gained 26% over the...

What a federal commerce courtroom block on Trump tariffs means for shoppers

What a federal commerce courtroom block on Trump tariffs means for shoppers

by Index Investing News
May 30, 2025
0

President Donald Trump holds a chart as he proclaims a plan for tariffs on imported items throughout an occasion April...

U.S.-China talks ‘stalled’ and want Trump and Xi to weigh in, Bessent says

U.S.-China talks ‘stalled’ and want Trump and Xi to weigh in, Bessent says

by Index Investing News
May 30, 2025
0

The U.S. and Chinese language flags are seen on the day of a bilateral assembly between the U.S. and China,...

Costco (COST) Q3 2025 earnings beat estimates; gross sales up 8%

Costco (COST) Q3 2025 earnings beat estimates; gross sales up 8%

by Index Investing News
May 29, 2025
0

Warehouse large Costco Wholesale Company (NASDAQ: COST) reported a rise in revenue for the third quarter of 2025, pushed by...

Kohl’s Company stories narrower web loss for Q1 2025; gross sales down 4%

Kohl’s Company stories narrower web loss for Q1 2025; gross sales down 4%

by Index Investing News
May 30, 2025
0

Kohl’s Company (NYSE: KSS) reported a narrower web loss for the primary quarter of 2025. The division retailer chain’s web...

Next Post
Usefulness of a Non-Lying Strategy: Two Examples

Usefulness of a Non-Lying Strategy: Two Examples

VAR makes Chelsea error for missing red card foul on Joao Felix

VAR makes Chelsea error for missing red card foul on Joao Felix

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

A List Of 33 Things We Know About The Coming Food Shortages – Investment Watch

A List Of 33 Things We Know About The Coming Food Shortages – Investment Watch

September 6, 2022
The Peril of Peers – Econlib

The Peril of Peers – Econlib

August 12, 2023
Cozy Plush Throws for .99 + transport!

Cozy Plush Throws for $9.99 + transport!

August 6, 2022
70% of Severodonetsk is again below the management of Ukraine, heavy combating continues

70% of Severodonetsk is again below the management of Ukraine, heavy combating continues

June 6, 2022
Newcastle United Hold Concrete Interest In £25k-p/w Star

Newcastle United Hold Concrete Interest In £25k-p/w Star

April 11, 2023
European workplace funding restoration led by UK

European workplace funding restoration led by UK

September 15, 2024
Drunk Benidorm holidaymaker is sent flying by the weight of two towels in hilarious vid…now he’s recognised at the shops

Drunk Benidorm holidaymaker is sent flying by the weight of two towels in hilarious vid…now he’s recognised at the shops

July 30, 2023
Methods to Deal with a Property Loss

Methods to Deal with a Property Loss

January 16, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In