Applied Materials Likely To Report Higher Q1 Earnings, Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Applied Materials, Inc. AMAT is scheduled to release its first quarter of fiscal 2023 financial results after the closing bell on Feb. 16, 2023.

Analysts expect the company to post quarterly earnings at $1.93 per share, up from $1.89 per share in the year-ago period. The company’s revenue might come in at $6.69 billion.

Applied Materials shares rose 0.9% to close at $119.46 on Wednesday and lost 0.1% in after-hours trading.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wells Fargo analyst Joseph Quatrochi maintained an Overweight rating and raised the price target from $115 to $130 on Feb. 10, 2023. This analyst sees around 9% upside in the company’s stock and has an accuracy rate of 83%.
• Barclays analyst Raimo Lenschow downgraded the stock from Equal-Weight to Underweight on Jan. 23, 2023, and increased
• the price target from $80 to $90. This analyst sees around 25% downside in the company’s stock and has an accuracy rate
• of 68%.
• Stifel analyst Brian Chin reinstated a Buy rating with a price target of $132 on Jan. 18, 2023. This analyst sees more tahn 10% upside in the company’s stock and has an accuracy rate of 73%.
• Mizuho analyst Vijay Rakesh maintained a Buy rating on Jan. 17, 2023, and raised the price target from $115 to $132. This analyst sees over 10% upside in the company’s stock and has an accuracy rate of 73%.
• Loop Capital analyst Scott Graham initiated coverage on the stock with a Buy rating and a price target of $125 on Dec. 7, 2022. This analyst sees around 5% upside in the company’s stock and has an accuracy rate of 75%.

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