Top Ratings: Oct 18th
Datadog (DDOG)
Morgan Stanley & Co. (Analyst Rank #1) has maintained a “Buy” rating for Datadog with a target price of USD 137, ahead of its earnings report on November 7. The firm is confident in Datadog’s strong position in the growing cloud monitoring market, driven by increasing demand for cloud-based solutions. Analysts expect the upcoming results to highlight robust revenue growth and strong customer retention, reflecting the company’s ability to innovate and adapt. Overall, the outlook for Datadog remains positive as it approaches this key financial milestone.
Blackberry (BB:CA) (BB)
Canaccord Genuity (Rank #31) has raised its target price for BlackBerry to CAD 3.85 while maintaining a “Hold” rating as of October 18, 2024. The analyst highlighted that BlackBerry’s management team has a clear long-term strategy, which, combined with expected improvements in cost structure, should support profitability and positive free cash flow (FCF) by the end of fiscal year 2025. This optimistic outlook is based on a sum-of-parts analysis that indicates the company’s various business segments may be undervalued.
KeyCorp (KEY)
Barclays (Rank #2) has increased its target price for KeyCorp from $16 to $19 following better-than-expected third-quarter results, largely due to a significant rise in net interest income. This improvement indicates the bank’s effective asset and liability management, supported by favorable interest rate conditions. Analysts remain optimistic about KeyCorp’s future performance, noting strong loan growth and effective cost management strategies.
Microsoft Corp. (MSFT)
Piper Sandler (Rank #21) has lowered its target price for Microsoft from $485 to $470, anticipating mixed results in the company’s upcoming third-quarter earnings. Analysts are particularly concerned about slowing demand and competitive pressures affecting revenue from Azure, a key driver of Microsoft’s performance. Investors will be closely monitoring how Microsoft addresses these challenges in its earnings report.
Netflix Inc. (NFLX)
JPMorgan (Rank #5) has increased its target price for Netflix from $750 to $850 after the company reported impressive third-quarter results that surpassed expectations. The strong subscriber growth was driven by successful new content and the popularity of its existing library. Analysts are encouraged by Netflix’s adaptability to changing viewer preferences and its subscriber retention strategies, including ad-supported tiers. This positive outlook reflects confidence in Netflix’s continued growth amid a competitive streaming landscape.
STA Research is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI.
