Analyst Update: NVIDIA, Tableau Software, Monster

Analysts adjusted their ratings on NVIDIA Corporation (NVDA), Tableau Software Inc (DATA), and Monster Beverage Corporation (MNST)

Nov 6, 2015 at 12:36 PM
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Analysts are weighing in today on tech concern NVIDIA Corporation (NASDAQ:NVDA), software producer Tableau Software Inc (NYSE:DATA), and energy drink giant Monster Beverage Corporation (NASDAQ:MNST). Here's a quick roundup of today's brokerage notes on NVDA, DATA, and MNST.

  • NVDA has been muscling higher since late August, and the upswing has continued after the company handily beat third-quarter earnings estimates and offered upbeat current-quarter guidance. NVIDIA Corporation, which recently received an ill-timed downgrade, was today on the receiving end of no fewer than 14 price-target hikes, ranging up to $38, which would represent an eight-year high for the stock. In addition, MKM Partners upgraded NVDA to "buy" from "neutral." Last seen trading up 14.7% at $31.79 -- and fresh off a seven-year peak of $31.94 -- the visual computing specialist is now up 58.6% year-to-date. Short-term options traders should be happy with today's numbers, as the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.51 is lower than 93% of all other readings taken in the past year -- indicating that near-term calls are outranking puts nearly 2-to-1. Still, NVDA currently holds seven "strong buys" against 14 "hold" or worse ratings. If analysts further perk up their outlooks, the shares could be headed for an even bigger increase.
  • DATA was last seen trading at $102.30, up 21.2%, after reporting quarterly earnings above expectations. The software stock is now up 20.7% in 2015, and back above the century mark for the first time since late August. Analysts responded to the earnings news by adjusting their price targets, with Jefferies, Barclays, Wedbush, and Susquehanna raising their targets, and FBR, Citigroup, and Suntrust cutting theirs. Ahead of earnings, analysts were already fairly bullish on Tableau Software Inc, with 16 out of 22 giving it a "buy" or better rating. Short-term option traders, on the other hand, were more put-heavy than usual. Tableau currently has a SOIR of 1.35 -- the highest reading seen in the past year.
  • MNST is also having a great day on the charts, with the shares last seen up 14% at $150.74, not far off their all-time high of $155.83, tagged in August. Monster Beverage Corporation reported third-quarter earnings above estimates after the market closed yesterday. Today's surge is more than double the one-day post-earnings move of 6.2% MNST has averaged over the last eight quarters. The beverage maker has received price-target increases from Jefferies, Suntrust Robinson, UBS, and CLSA, with the highest target at $175 representing never-before-seen territory. However, option buyers were bearish heading into earnings. MNST currently sports a 10-day put/call volume ratio of 1.2 on the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), higher than 76% of all other readings taken in the past year. Should option bears abandon ship, MNST could resume its quest for record highs.

For other stocks in analysts' crosshairs, read Analyst Upgrades: Weight Watchers International, Inc., Shake Shack Inc, and Take-Two Interactive Software, Inc. and Analyst Downgrades: Men's Warehouse Inc, Tripadvisor Inc, and Chipotle Mexican Grill, Inc.


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