Analysts remain solidly bullish on Marvell stock. Of 33 brokerages covering the shares, 29 have a Buy or Strong Buy rating, and the rest rate the shares at Hold. At a share price of around $42.90, the upside potential to a median price target of $70.00 is 63.2%. At the high price target of $125.00, the upside potential is more than 90%.
For its third quarter of fiscal 2023, Marvell’s revenue is forecast to come in at $1.56 billion, up 2.7% sequentially and 28.9% higher year over year. Adjusted EPS are forecast at $0.59, up 3.1% sequentially and by 37.2% year over year. For the full fiscal year ending in January, EPS are forecast at $2.30, up 46.4%, on sales of $6.13 billion, up 37.4%.
Marvell stock trades at 18.7 times expected 2023 EPS, 15.6 times estimated 2024 earnings of $2.75 and 12.9 times estimated 2025 earnings of $3.33 per share. The stock’s 52-week range is $35.30 to $93.85, and Marvell pays an annual dividend of $0.24 (yield of 0.56%). Total shareholder return for the past year was negative 39.5%.
UiPath
UiPath Inc. (NYSE: PATH) makes and sells a robotic automation platform. Over the past 12 months, shares have plunged by about 75%. Investors got some good news a couple of weeks ago when the company reported preliminary results for the third quarter that included an increase in expected revenue and an announced reduction of some 6% in the company’s global workforce of around 4,000. After a jump of around 10% on the news, shares have dropped below their level on the day of the filing.
Of 22 analysts covering the stock, eight have a Buy or Strong Buy rating and 13 more have Hold ratings. At a share price of around $11.80, the upside potential based on a median price target of $16.00 is 35.6%. At the high price target of $27.50, the upside potential stretches to nearly 108%.
UiPath is expected to report third-quarter fiscal 2023 revenue of $255.94 million. That would be up 5.7% sequentially and by 15.9% year over year. Analysts are forecasting an adjusted loss per share of $0.01, compared to a prior quarter loss of $0.02 per share and a break-even quarter in 2021. For the full year, estimates call for a per-share loss of $0.02, down from year-ago EPS of $0.08, and sales of $1.01 billion, up 13.7%.
The stock trades at 186.2 times estimated 2024 earnings of $0.06 and 88.7 times estimated 2025 earnings of $0.13 per share The stock’s 52-week range is $10.44 to $50.21. UiPath does not pay a dividend, and the total shareholder return for the past year is negative 75.6%.
Originally published at 24/7 Wall St.
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