CrowdStrike (CRWD)
Jefferies grew more bullish on CrowdStrike (CRWD), raising its price target to $230 from $190 and keeping a buy rating. The stock did not react well, likely because the broad market showed some softness. CRWD has been a strong performer: up more than 60% year to date and more than 100% since early April. Jefferies says CRWD holds "pole position" in the AI security race.
CRWD reports earnings this week, on Thursday. The Street expects earnings of 29 cents per share, up about 26% from a year ago, and revenue above $1.4 billion, a jump of more than 20% year over year. The key figure to watch is net new annual recurring revenue - how much recurring business CRWD adds. Jefferies thinks CRWD can meet the bar; the open question is whether it can beat it.
Marvell (MRVL)
Wells Fargo turned more bullish on Marvell (MRVL), lifting its price target to $310 from $240 and keeping an overweight rating (equal to a buy). Wells Fargo views MRVL as an "idiosyncratic" semiconductor story, meaning its growth does not depend fully on whether the overall chip cycle is strong or weak. The firm thinks MRVL can hold 15% to 20% long-term revenue growth, and as revenue scales, operating margins can improve and push earnings even higher. Longer term, Wells Fargo sees a path to more than $11 per share in earnings for fiscal 2029.
MRVL has been one of the biggest semiconductor winners this year, with shares up roughly 179% year to date before today. Wells Fargo believes the run is not over. MRVL reports earnings Thursday.
Intuit (INTU)
Jefferies cut its price target on Intuit (INTU) to $500 from $550 but kept its buy rating. The stock trades at $366, so the new target still points to upside. INTU has been weak, down sharply this year, caught in what some call the "SaaS apocalypse" - the view that AI threatens software names like INTU. Jefferies thinks the bad news is already priced in. The debate going into earnings is not about everything going right; it is about whether enough bad news is baked in.
Analysts expect revenue above $4.22 billion, up about 11% from a year ago. The bigger question is what management says about fiscal 2027 guidance, and whether AI turns out to be a threat or a help.
Broader tech view
Nvidia (NVDA) reports earnings this week too. Some see NVDA raising prices as bullish for tech overall. Tech is under pressure, and sectors were split about 50/50 today, with broad gains in some non-tech sectors. Also reporting Thursday, alongside CRWD and MRVL, is Okta (OKTA).
