Tech stocks should rise 20% plus in 2024 as the tech sector is set up for an acceleration of spending around cloud and AI that is still being significantly underestimated by Wall Street, according to Wedbush analysts.
In an update to clients, the analysts noted that they believe cloud and AI driven spending will be up 20%-25% over the next year and think "a short covering for the ages" for the tech sector into year-end is well underway.
Adobe Inc (NASDAQ:ADBE) has a history of providing conservative guidance for the new fiscal year, analysts at Jefferies highlighted after the creative software provider’s 2024 outlook disappointed investors earlier this week.
“Expectations were high going in [to earnings] with the stock up 85% year to date and generative AI momentum building, combined with new 6% to 10% price increases,” the analysts noted.
Greater protections are on the way for European gig-economy workers, and Shore Capital Markets reckons this should be of concern for Deliveroo PLC (LSE:ROO)’s shareholders.
New EU legislation will introduce stringent criteria for classifying gig workers as employees, shifting the onus onto platforms like Deliveroo to disprove employee status.
Shore Capital Markets has reasserted its confidence in FTSE 250-listed MoneySuperMarket.com, maintaining its 'buy' recommendation for the price-comparison website.
Analysts were impressed with recent financial performance showing a robust trading picture, notably with year-over-year revenue gains of 14% in the third quarter and 12% over the nine months ending in September.
Naked Wine's interims had several positives, says broker Jeffries, notably the all-time low in repeat customer attrition and early indications that improvements to the new customer proposition are working.
A reiteration of 2024 guidance and an upbeat tone on the shift to cash generation, with a £40m-50m anticipated inflow from inventory by the end of 2025, also were good signs said the broker.