Latest news with #Turrin
Business Insider
10-08-2025
- Business
- Business Insider
Analysts Have Conflicting Sentiments on These Technology Companies: 8X8 (EGHT) and Array Technologies (ARRY)
Companies in the Technology sector have received a lot of coverage today as analysts weigh in on 8X8 (EGHT – Research Report) and Array Technologies (ARRY – Research Report). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. 8X8 (EGHT) Wells Fargo analyst Michael Turrin maintained a Sell rating on 8X8 on August 8 and set a price target of $1.50. The company's shares closed last Friday at $1.93. According to Turrin is a 2-star analyst with an average return of 0.0% and a 46.4% success rate. Turrin covers the Technology sector, focusing on stocks such as Clearwater Analytics Holdings, ServiceTitan, Inc. Class A, and Zoom Video Communications. Currently, the analyst consensus on 8X8 is a Hold with an average price target of $2.27. Array Technologies (ARRY) In a report issued on August 8, Michael Blum from Wells Fargo maintained a Hold rating on Array Technologies, with a price target of $8.00. The company's shares closed last Friday at $5.50, close to its 52-week low of $4.89. According to Blum is a 5-star analyst with an average return of 12.2% and a 65.1% success rate. Blum covers the NA sector, focusing on stocks such as Venture Global, Inc. Class A, Enterprise Products Partners, and Plains All American. Currently, the analyst consensus on Array Technologies is a Moderate Buy with an average price target of $8.88, representing a 35.6% upside. In a report issued on August 7, TD Cowen also maintained a Hold rating on the stock with a $7.00 price target.
Business Insider
10-08-2025
- Business
- Business Insider
Wells Fargo Keeps Their Buy Rating on Blend Labs (BLND)
Wells Fargo analyst Michael Turrin maintained a Buy rating on Blend Labs on August 8 and set a price target of $5.00. The company's shares closed last Friday at $2.73. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Turrin is a 2-star analyst with an average return of 0.0% and a 46.35% success rate. Turrin covers the Technology sector, focusing on stocks such as Microsoft, SAP SE, and Intuit. In addition to Wells Fargo, Blend Labs also received a Buy from William Blair's Dylan Becker in a report issued on August 8. However, yesterday, TR | OpenAI – 4o reiterated a Hold rating on Blend Labs (NYSE: BLND). BLND market cap is currently $705.4M and has a P/E ratio of -17.39. Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BLND in relation to earlier this year.
CNBC
15-07-2025
- Business
- CNBC
Microsoft gets a price target increase from Wells Fargo ahead of earnings
The artificial intelligence boom can send Microsoft shares even higher over the coming months, according to Wells Fargo. Heading into the company's scheduled earnings release on July 30, analyst Michael Turrin maintained his overweight rating on the "Magnificent Seven" stock and increased his price target by $15 to $600, which implies 19.3% upside from Monday's close. That updated outlook comes as the stock has surged in recent months and currently sits near record highs. It's gained more than 30% in the past three months and more than 19% year to date, meaningfully outperforming the S & P 500 over both timeframes. "We still see a bright future ahead for Microsoft, driven by continued growth prospects in huge categories of IT spend, ability to further monetize strong positioning in multiple end markets, and a financial profile that continues to exhibit durable margin expansion," Turrin wrote in a note dated Monday. "We acknowledge shares are trading near historical highs, but think this is justified given its early AI lead and strong incumbent position in a tight market, esp. favorable in the current environment." MSFT .SPX 3M mountain MSFT vs. S & P 500, 3-month The analyst revealed that recent field work signals that demand for Microsoft's AI tools and solutions isn't slowing down, boosting his optimism for not just the upcoming quarter's results but also fiscal year 2026. He also pointed out that its guidance for capital expenditures growth suggests "significant" AI spending for fiscal 2026, estimating $100 billion in capital expenditures. "While not necessarily expecting a repeat of MSFT's 300bps Azure beat in FQ3, upbeat partner feedback to us suggests upside to 34-35% guide given robust core + AI demand—further building on last qtr's 'accelerated growth' in Enterprise & improved scale motions," Turrin also wrote. Most analysts on Wall Street have joined the analyst in taking a bullish stance on the name, as 56 out of 62 analysts in all have a strong buy or buy rating, per LSEG data. The remaining six have stepped to the sidelines with a hold rating. Microsoft also has a consensus target of roughly $525, reflecting more than 4% upside potential.
Yahoo
25-06-2025
- Business
- Yahoo
Microsoft Is Quietly Rewriting Its Playbook
You've probably seen the headlines about Microsoft's (NASDAQ:MSFT) AI ambitions, but here's the real scoop: Wells Fargo's (NYSE:WFC) team, led by Michael Turrin, is still bullishan Overweight rating stays in place, and they just nudged their 12-month target up to $585. Warning! GuruFocus has detected 6 Warning Sign with MSFT. Why? Because Microsoft ripped off a $13 billion annual recurring revenue run rate for its AI business in under three yearsits fastest product ramp everdespite running into capacity bottlenecks. Turrin's analysts figure that by June 2025, that AI run rate could be approaching $20 billion, and if all goes well (think fewer supply constraints and sharper economics on its OpenAI deal), it might blow past $100 billion in calendar-2029 revenue. Even in a more conservative base scenario, they're modeling over $80 billion of AI revenue by then, with double-digit net-new growth each year. And let's not forget Copilot: they see FY 2026 as the breakout moment when enterprise uptake really takes off. Just a 10 % penetration across Microsoft's roughly 430 million seat base could translate into about $12 billion more ARR. Sure, there's chatter about tweaking the OpenAI contract, but Wells Fargo doesn't expect anything drastic unless Microsoft can snag a better revenue share, longer IP rights or more favorable AGI terms. The real catalysts to watch? Q4 earnings commentary, any hints on capacity coming online, and Copilot adoption statsbecause if those line items hit, you'll know Microsoft's AI pivot isn't just talk. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
Microsoft's $100B AI Bet: Why Wells Fargo Says This Rally's Just Getting Started
Wells Fargo just raised its price target on Microsoft (NASDAQ:MSFT) to $585about 19% above where the stock closed Tuesday. While the stock is hovering near all-time highs, analyst Michael Turrin argues that the AI story here is still in its early innings. Microsoft has already scaled its AI segment to $13 billion in annual recurring revenueits fastest ramp everand Turrin thinks this trajectory could take total AI revenue to $100 billion by fiscal 2029. The bank maintains an overweight rating, citing Microsoft's edge across enterprise IT spend and its ability to keep expanding margins even in a tighter market. Warning! GuruFocus has detected 6 Warning Sign with MSFT. What's fueling that optimism? Copilot. Microsoft's AI assistant could be a key revenue unlock in the quarters ahead. Turrin expects Copilot to hit critical mass by next year, potentially generating $12 billion in recurring revenue on its own. His model assumes that just 10% of Microsoft 365 Commercial Cloud's 430 million addressable users adopt Copilotat a 20% average discountto deliver a $10 billion run rate. It's not a moonshot either. With generative AI embedded deeper into daily workflows, this adoption curve could steepen faster than most are modeling. Microsoft is already up 16% in 2025, and most analysts aren't backing down. LSEG data shows 55 out of 62 analysts rate it a buy or strong buy. While some may balk at the valuation, Wells Fargo thinks the AI flywheel is only getting started. Microsoft's scale, distribution, and enterprise lock-in give it a launchpad that's hard to replicateand if Copilot hits its stride, investors may look back at today's price as just another pit stop. This article first appeared on GuruFocus.
