Marvell Technology reported second-quarter revenue of $2.74 billion and earnings per share of $0.94, modestly exceeding estimates, but its shares fell about 7.5% in after-hours trading to $223.
The company guided third-quarter revenue to $3.15 billion and EPS to $1.10, a "measured raise" according to analysts. Marvell's stock had surged 196% over the prior six months and 28% in the month before results, following a strong AI-driven earnings season set by NVIDIA the previous day. Benchmark maintained a Buy rating with a $275 price target.
Elastic NV posted a 17% year-over-year increase in subscription revenue to $398.5 million and total revenue of $478.1 million, a 15% rise. Management raised full-year guidance after delivering a clean beat-and-raise quarter. Needham reiterated a Hold rating, citing strong execution across Security, Search & AI, and Observability.
Workday trades at 12.4 times calendar 2027 free cash flow, below a peer median of 17.7 times, despite a 71% rebound from April lows. Shares remain 6% lower year-to-date. William Blair maintained an Outperform rating, while flagging macro headwinds, pressure on seat-based software models, and recent buyout speculation.
Gap reported adjusted earnings per share of $0.52, beating the $0.49 estimate, and raised full-year guidance for earnings, operating margin, and gross margin. UBS lifted its price target to $42 from $40 and maintained a Buy rating, citing 23% EPS growth expected in fiscal 2027 driven by beauty and handbag expansion. The stock trades at 8.5 times forward earnings, with UBS projecting a re-rating to 13 times.
Analysts also highlighted upcoming earnings reports. Nordic American Tankers is scheduled to report on August 31, with a consensus price target of $6.25 and a 17% cut to revenue estimates over the past week. SAIC is set to release results the same day, with a $121.50 price target and a projected 28% sequential decline in EPS. Copart will report on September 4, with options implying a potential move of plus or minus 4.4%, having beaten implied moves in five of the last eight quarters.
