ARM Holdings PLC ADR (ARM – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Krish Sankar from TD Cowen maintained a Buy rating on the stock and has a $200.00 price target.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Krish Sankar has given his Buy rating due to a combination of factors that highlight ARM Holdings’ strong growth prospects. The company has demonstrated a robust performance in licensing and royalties, which are key revenue drivers. Notably, ARM’s revenue in the December quarter exceeded previous guidance, with significant year-over-year increases, and the projections for the upcoming quarter are aligned with market expectations.
Furthermore, ARM’s involvement in initiatives like Stargate and Cristal Intelligence signifies potential for long-term growth. These projects are expected to bring incremental revenue, despite the anticipated rise in research and development expenses. Sankar acknowledges these factors as indicative of ARM’s promising trajectory, warranting a positive outlook on its stock.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $185.00 price target.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARM in relation to earlier this year.