Analysts issued mixed reviews following earnings from Marvell Technology, Elastic NV, Workday, and Gap, with price targets adjusted across the four companies.
Marvell Technology’s shares fell about 7.5% in after-hours trading to $223, extending a broader decline after the chipmaker reported second-quarter results that modestly beat expectations. Revenue reached $2.74 billion, while adjusted earnings per share came in at $0.94, surpassing estimates. Analysts at Benchmark reiterated a Buy rating with a $275 price target. The company projected third-quarter revenue of $3.15 billion and EPS of $1.10, described as a measured increase. Marvell’s stock had surged 196% over the prior six months and 28% in the month leading up to the report, setting a high bar for AI-related earnings.
Elastic NV posted a clean beat-and-raise quarter, with subscription revenue rising 17% year-over-year to $398.5 million and total revenue up 15% to $478.1 million. Needham maintained a Hold rating but acknowledged strong execution. Management also raised full-year guidance for fiscal 2027. Growth was driven by segments including Security, Search & AI, and Observability.
Workday received an Outperform rating from William Blair, which highlighted the company’s valuation at 12.4x calendar 2027 free cash flow, below the peer median of 17.7x. While shares have climbed 71% since April lows, they remain down 6% year-to-date. Analysts flagged macro headwinds, pressure on seat-based software models, and recent buyout speculation as complicating factors.
Gap’s outlook improved after UBS raised its price target to $42 from $40 and maintained a Buy rating. The investment case centers on projected 23% EPS growth for fiscal 2027, driven by expansion in beauty and handbag categories. The company posted adjusted EPS of $0.52, beating the $0.49 estimate, and raised full-year guidance for earnings, operating margin, and gross margin. Gap trades at 8.5x P/E, with UBS projecting a re-rating to 13x.
Analysts also previewed upcoming reports for Nordic American Tankers, SAIC, and Copart, with mixed expectations and price targets adjusted accordingly.
