![]() ![]() What's more, Marvell has been rated highly by analysts.įor the unversed, Marvell's chips are used in rapidly emerging automotive, enterprise networking, data center and 5G infrastructure end markets. Out of this tumult comes semiconductor company Marvell ( MRVL), which reported solid Q1 earnings, upbeat guidance for the near term, favorable long-term growth prospects, and strong fundamentals. These disruptions have deeply hurt technology, especially the semiconductor industry, which is suffering from a shortage of components essential for the manufacture of chips. The macroeconomy is currently riddled with snags, including continued supply-chain obstructions. 82 among nearly 8,000 analysts tracked on TipRanks, has been successful in 70% of his ratings, and has delivered an average return of 17.4% on each of his rated stocks. Also, consistent growth in headcount even during labor shortages was encouraging. Moreover, the analyst is also upbeat about the company's business activities from May, which indicate strong customer renewal trends. Zelnick acknowledged how tactfully Workday has been driving customer expansion in the past two years, even during the early Covid-19 days. It is only a question of when and to what extent they will be impacted," said Deutsche Bank analyst Brad Zelnick in a research report released May 27.Įncouraged by the long-term prospects of the company, Zelnick reiterated a buy rating on the stock but lowered his price target to $225 from $340, noting elevated costs of business acquisitions as Workday expands internationally, and strong competition. "Thinking about the broader Software universe, we remind investors that none of the companies in the space are immune to a broader economic slowdown. Moreover, the company underscored that it has ample means to effectively navigate economic downturns, as demonstrated through the recessions of 20.Īlso, this is the wrong time to judge a tech company, when looking at the near-term concerns. Nonetheless, management commentary during the FQ1 earnings call indicates sustained demand and solid levels of engagement. ![]()
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