TSP Weekly Tech Stock Update—May 17, 2025
This Week: NTNX new all-time high, ZS new 52-week high, MNDY delivers strong Q1 results, PANW/SNOW earnings previews, OneStream's AI expansion, Morgan Stanley likes TEAM, Citi bullish on MSFT & more.
Hello from Rob…
—This week, Arista Networks (ANET, $96.42) shares gained 11.4%. The stock has rebounded 62% from its April 7 low of $59.43, but it still well below its record high of $133.57 reached in late January.
Citi raised its Arista price target to $112 from $97, as it looks for the company this year to double its market share in the Ethernet AI back end. For 2025, Citi believes Arista is on track to reach its $750 million AI back-end target, which would represent nearly a 20% share. Read more about Arista here.
—Okta (OKTA, $127.30) shares this week rose 6.5% and hit a new 52-week high of $127.57. So far this month, the stock has advanced 13.5%.
DA Davidson raised its Okta price target to $145 from $125, saying it thinks the company’s initial FY’26 (Jan.) guidance was set very conservatively: the total revenue outlook of $2.850 billion to $2.860 billion represents growth of 9% to 10%. The firm sees upside to guidance and looks for growth to stabilize in the low double-digit range.
Okta will report FQ1 (April) results on May 27. I wrote about Okta last week.
*Inside This Issue: Rubrik Stock Hits New Post-IPO High
—Paid subscribers will receive the June 2025 PDF of Tech-Stock Prospector (TSP #280) via email on Tuesday, June 10.
—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.