J.P. Morgan analyst Joseph Cardoso has kept his "Hold" rating on TD SYNNEX Corporation (SNX), setting a price target of $125.00, despite the company’s shares closing at $107.54 yesterday.
Cardoso, who boasts a stellar reputation as a 4-star analyst, brings with him an impressive track record: an average return of 21.2% and a success rate of 72.41%. He has a sharp focus on the Technology sector, covering companies like Garmin, Insight Enterprises, and Motorola Solutions, with his insights being highly valued by investors.
Alongside Cardoso's assessment, George Wang, CFA from Barclays, also issued a "Hold" recommendation on TD SYNNEX in his report released today. However, Barrington took a different stance, maintaining its "Buy" rating on the company, signaling some divergence in the market sentiment regarding SNX.
In its most recent earnings report for the quarter ending November 30, TD SYNNEX posted a revenue of $15.84 billion, a notable increase from $14.41 billion reported in the same quarter last year. The company also reported a net profit of $194.8 million, up from $187.54 million in the previous year, highlighting steady growth despite a competitive market.
Despite the positive earnings performance, the sentiment among corporate insiders appears more cautious. According to data from TipRanks, insider activity has shown a negative trend, with 81 insiders selling shares in recent months, signaling a decrease in confidence among the company’s leadership. Notably, CEO Patrick Zammit sold 6,823 shares of SNX for nearly $1 million in total last month, which has added to the concerns.