Latest news with #KirkMaterne
Yahoo
5 days ago
- Business
- Yahoo
Evercore ISI Reiterates ‘Outperform' Rating on Salesforce (CRM) With a $350 Price Target
Evercore ISI analyst Kirk Materne reiterated an Outperform rating on Salesforce, Inc. (NYSE:CRM) shares on May 27. In addition, the analyst stuck with the $350 price target, citing the company's solid start to the year. The bullish stance underscores the research firm's confidence in the company's strategy and market position. A business executive analyzing their latest financial performance figures, thanks to the company's online cash management services. The analyst insists that the company needs to do more and demonstrate that its underlying growth is accelerating. The analyst also wants the company to affirm increased adoption of its artificial intelligence Agentforce product. The remarks come at the back of Salesforce's Annual Recurring Revenue (ARR) for data cloud and Agentforce powering through the $1 billion mark. In addition, the company enjoys a solid gross profit margin of 77.19%. Salesforce is increasingly capitalizing on the growing demand for artificial intelligence solutions. Since October of last year, it has closed 8,000 deals for its Agentforce product, of which half are paid contracts. In addition, 60% of the 100 deals signed included data cloud and AI, affirming strong demand in the market. Salesforce is a cloud-based software company that provides customer relationship management (CRM) solutions. It focuses on helping businesses manage and improve their relationships with customers. While we acknowledge the potential of Salesforce, Inc. (NYSE:CRM) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRM and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Business
- Yahoo
Evercore ISI Boosts Intuit (INTU) Price Target on AI Potential and Strong Q3 Growth
On May 24, Evercore ISI analyst Kirk Materne raised his price target for Intuit Inc. (NASDAQ:INTU) from $685 to $785 and kept an Outperform rating. The revision was prompted by Intuit's strong fiscal third-quarter results, which exceeded forecasts. Intuit Inc. (NASDAQ:INTU) exceeded the $7.56 billion forecasted for the quarter with total revenue growth of $7.8 billion, a 15% year-over-year increase. Additionally, earnings per share came in higher than expected, at $11.65 as opposed to the projected $10.93. Notably, despite Mailchimp's continuous difficulties, Online Services in the Global Business Services (GBS) division grew by about 20% year-over-year, in line with projections. According to Materne, Intuit Inc. (NASDAQ:INTU) had a successful tax season, and the company's GBS division was expected to do well, particularly if the Mailchimp business could be improved. The analyst also highlighted the potential of Intuit's new agentic offerings and artificial intelligence monetization as untapped opportunities, especially for mid-market clients. While we acknowledge the potential of INTU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INTU and that has 100x upside potential, check out our report about the cheapest AI stock. Read Next: and Disclosure: None.
Yahoo
25-05-2025
- Business
- Yahoo
Evercore ISI Boosts Intuit (INTU) Price Target on AI Potential and Strong Q3 Growth
On May 24, Evercore ISI analyst Kirk Materne raised his price target for Intuit Inc. (NASDAQ:INTU) from $685 to $785 and kept an Outperform rating. The revision was prompted by Intuit's strong fiscal third-quarter results, which exceeded forecasts. Intuit Inc. (NASDAQ:INTU) exceeded the $7.56 billion forecasted for the quarter with total revenue growth of $7.8 billion, a 15% year-over-year increase. Additionally, earnings per share came in higher than expected, at $11.65 as opposed to the projected $10.93. Notably, despite Mailchimp's continuous difficulties, Online Services in the Global Business Services (GBS) division grew by about 20% year-over-year, in line with projections. According to Materne, Intuit Inc. (NASDAQ:INTU) had a successful tax season, and the company's GBS division was expected to do well, particularly if the Mailchimp business could be improved. The analyst also highlighted the potential of Intuit's new agentic offerings and artificial intelligence monetization as untapped opportunities, especially for mid-market clients. While we acknowledge the potential of INTU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INTU and that has 100x upside potential, check out our report about the cheapest AI stock. Read Next: and Disclosure: None. Sign in to access your portfolio
Globe and Mail
24-05-2025
- Business
- Globe and Mail
Microsoft Stock (MSFT) Gets a Price Target Hike from Top Analyst as It Goes ‘All In on AI'
Microsoft (MSFT) stock received a boost from Evercore ISI price target hike. Top analyst Kirk Materne of Evercore ISI lifted the price target on MSFT stock to $515 from $500 yesterday, while maintaining his Buy rating. The revised price target implies a 13.22% upside potential from current levels. Materne, who ranks 380 out of more than 9,558 analysts tracked by TipRanks, has a success rate of 64% and delivers an average return per rating of 11.60% over a one-year timeframe. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The price hike followed Evercore ISI's recent Microsoft 360 event, which included discussions with Microsoft leaders and partners. Materne said he remains confident in Microsoft's AI push, highlighting strong demand and the company's clear focus on enterprise AI. Why Materne Is Bullish on Microsoft Materne sees Microsoft as just beginning to tap into the potential of enterprise AI. He believes the company is well placed to grow both through its software tools—like Copilot—and through its cloud platform, Azure. He also noted that Microsoft's wide range of products is helping it reach new spending areas outside traditional IT, such as sales and supply chain operations. He stressed that Microsoft is 'all in on AI,' investing heavily to meet strong demand while also focusing on efficiency. Among Microsoft's AI tools, GitHub Copilot and Copilot for Teams are gaining the most attention. Materne also highlighted that offering Copilot Chat for free is speeding up user adoption, which could give Microsoft an edge in the AI race. He added that Microsoft's identity and security tools are a key part of its AI strategy and help it stand out from other large tech firms. Finally, Materne noted that demand for Azure remains strong, not just for AI but also in other areas. As a result, he slightly raised his FY26 estimates. He believes Microsoft's AI business could grow into a $110 billion opportunity by 2028. With steady growth and a strong balance sheet, he continues to view Microsoft as a reliable long-term investment and reiterated his Buy rating. Is MSFT a Good Stock to Buy? Wall Street remains impressed by Microsoft's growth potential. According to recent data, 35 analysts have weighed in on MSFT over the past three months, and the verdict is a Strong Buy. Out of those, 30 have issued Buy ratings, with zero Sell calls in sight. The average MSFT stock price target now stands at $512.34, which suggests a 12.64% upside from its current price of $454.86. See more MSFT analyst ratings
Yahoo
23-05-2025
- Business
- Yahoo
Why Evercore Is Even More Bullish on Microsoft (MSFT) After Its 360 Event
We recently published a list of . In this article, we are going to take a look at where Microsoft Corporation (NASDAQ:MSFT) stands against other best AI stocks on latest news and ratings. Microsoft Corporation (NASDAQ:MSFT) provides AI-powered cloud, productivity, and business solutions, focusing on efficiency, security, and AI advancements. On May 22, Evercore ISI Group reaffirmed its 'Outperform' rating on the stock and raised its price target from $500.00 to $515.00. Analyst Kirk Materne's rating update follows the firm's annual Microsoft 360 event featuring virtual panels with Microsoft customers and partners, and in-person meetings with Microsoft's President of the Americas, Deb Cupp, and the Investor Relations team. manaemedia / Partner and customer conversations highlighted an 'upbeat tone' which supports a bullish long-term view of Microsoft's ability to benefit from AI adoption in the enterprise market. Azure's infrastructure and application capabilities allow Microsoft to leverage the growing AI demand. Moreover, customers are still interested in spending on artificial intelligence despite the uncertain macroeconomic backdrop, reflecting priority in organizational strategies. Feedback from partners further reveals that key products driving Microsoft's AI adoption include GitHub Copilot and Copilot for Teams, and that the decision to offer Copilot Chat free is seen as a catalyst for faster adoption. The analyst further added that Microsoft remains an 'all weather' stock due to its sturdy double-digit growth profile and fortress-like balance sheet. Overall, MSFT ranks 1st on our list of best AI stocks on latest news and ratings. While we acknowledge the potential of MSFT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MSFT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
