Qualcomm Gears Up For Q1 Print; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
QUALCOMM Incorporated (NASDAQ:QCOM) is set to release its Q1 earnings after the market closes on January 31, 2024. Analysts predict earnings of $2.37 per share, matching the previous year's results, and forecast revenue of $9.52 billion. Akash Palkhiwala was recently appointed as CFO and COO. The stock closed down 2.5% at $145.98. Analysts from Canaccord Genuity, Rosenblatt, Keybanc, Citigroup, and Morgan Stanley have provided recent ratings and price target changes, with most maintaining a positive outlook and raising their price targets.
January 31, 2024 | 4:02 pm
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POSITIVE IMPACT
QUALCOMM is anticipated to report Q1 earnings with an EPS of $2.37, consistent with the previous year, and revenue projections of $9.52 billion. The stock recently saw a 2.5% decline. Analysts have largely issued positive ratings and increased price targets.
The anticipation of Q1 earnings typically leads to increased volatility and investor interest. The consistent EPS forecast and positive analyst sentiment, despite a recent stock price decline, suggest a potential rebound if the earnings meet or exceed expectations. The appointment of a new CFO and COO could also be viewed positively if investors believe in strengthened leadership. However, the recent stock price drop indicates some investor caution, which tempers the confidence score slightly.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100