$TDC

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Memory Price Surge Accelerating IT Hardware Spending, Morgan Stanley Says

Information technology hardware companies in the US will likely benefit from accelerated enterprise spending amid a surge in memory prices that was previously expected to hurt the industry, Morgan Stanley said in a Monday note.Soaring memory chip prices driven by booming artificial intelligence demand is fueling what Morgan Stanley described as "chipflation."The brokerage had projected record component inflation to hit hardware spending, but is now seeing companies accelerate their purchases of personal computers, servers and storage arrays to avoid supply shortages and protect themselves from rising prices.Morgan Stanley upgraded the US IT hardware industry to "in line" from "cautious," saying "this cycle is driven by refresh, pull-forward (and) AI, making this a longer but still predominantly cyclical infrastructure upcycle."Morgan Stanley lifted Hewlett Packard Enterprise (HPE) and Everpure (P) to overweight from equal-weight and NetApp (NTAP) to equal-weight from underweight.The brokerage designated Hewlett Packard as its preferred enterprise hardware play in the US, citing factors including comparable exposure to enterprise infrastructure and an underappreciated networking business.Within peers, Everpure has "the most attractive combination" of storage spending exposure, share gains and attractive valuation, the investment firm said. For NetApp, it pointed to improving storage fundamentals supporting higher earnings estimates.While Dell Technologies (DELL) is set to see positive earnings revisions in the coming months due to its elevated server and storage exposure, its current valuation already reflects that underlying strength, Morgan Stanley said.Morgan Stanley is underweight on HP (HPQ) and Logitech (LOGI) given spending headwinds to PCs. The brokerage downgraded Teradata (TDC) to equal-weight from overweight."We also have to remain tactical, and signs of peaking estimate revisions will be our call to get more cautious again, and ride the other side of this upcycle," according to the research note.

$DELL$HPE$HPQ$LOGI$NTAP$P$TDC

Research9h ago

Morgan Stanley Downgrades Teradata to Equalweight From Overweight, Adjusts PT to $29 From $35

Teradata (TDC) has an average rating of hold and mean price target of $34, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$TDC

Wire5d ago

Teradata's Flow-Through Into H2 is Not Materializing After Better-Than-Expected H1, Morgan Stanley Says

Teradata's (TDC) flow-through into H2 is not materializing after the company's better-than-expected H1, Morgan Stanley said in a Wednesday research note.While accounting dynamics impacting pull-forward revenue have been acknowledged, Morgan Stanley said that if new or existing customers were accelerating adoption of the company's solutions, the same would be materializing in H2.The potential for that exists with Teradata launching new offerings in Q2 that have gone general access in Q3, and its deferred revenue growing 8% and renewal rates improving, Morgan Stanley said, adding that when compared with other AI winners where growth is accelerating, Teradata growth deceleration in H2 still stands out.Morgan Stanley lowered the company's price target to $35 from $40 and reiterated its overweight rating.Price: $27.44, Change: $-6.95, Percent Change: -20.21%

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Insider Trading88d ago

Teradata Insider Sold Shares Worth $634,158, According to a Recent SEC Filing

Stephen Mcmillan, Director, President and Chief Executive Officer, on May 12, 2026, sold 20,000 shares in Teradata (TDC) for $634,158. Following the Form 4 filing with the SEC, Mcmillan has control over a total of 762,446 common shares of the company, with 762,446 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/816761/000171972326000017/xslF345X05/wk-form4_1778711501.xml

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Research95d ago

Research Alert: CFRA Maintains Buy Rating On Shares Of Teradata Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to $35 from $44 on a forward P/E of 13x our 2026 EPS forecast of $2.66, below its five-year average. We increase our 2026 EPS projection to $2.66 from $2.60, and lift our 2027 EPS estimate to $2.89 from $2.74. Total revenue grew 6% Y/Y to $444 million (4% in constant currency), driven by stronger-than-expected recurring revenue of $400 million, up 12% Y/Y (9% in constant currency), from higher upfront on-premise subscription term licenses. Total ARR increased 3.5% to $1.492 billion, while public cloud ARR grew 13% to $686 million, supported by solid retention rates and accelerating demand for hybrid capabilities driven by security and sovereign AI requirements. Q1 results continue to show recovery, and we remain optimistic on its AI opportunity and core ARR growth from new offerings, improved go-to-market execution, and resonance of its hybrid deployment model for customers scaling their AI use. Margin expansion is also a positive, although higher memory prices are a watch area.

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Wire96d ago

UBS Adjusts Price Target on Teradata to $34 From $36, Maintains Neutral Rating

Teradata (TDC) has an average rating of overweight and mean price target of $34.88, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $27.35, Change: $-2.74, Percent Change: -9.10%

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Research96d ago

Research Alert: Tdc Posts Q1 Beats As Public Cloud Arr Grew 13% Y/y

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TDC reported Q1 non-GAAP EPS of $0.88, beating consensus by $0.11, while total revenue of $444M grew 6% Y/Y, ahead of expectations by $14M. GAAP EPS of $3.47 was boosted by a $359M pre-tax benefit from the SAP litigation settlement, which provided $480M in gross proceeds. Strong cloud momentum continued with public cloud ARR growing 13% Y/Y to $686M, while total ARR reached $1.492B, up 3% Y/Y, demonstrating continued stabilization in the recurring revenue base. Management expects Q2 recurring revenue of -2% to flat Y/Y and total revenue of -4% to -2% Y/Y, suggesting near-term quarterly moderation. However, full-year 2026 guidance was largely reaffirmed with total ARR growth of 2%-4% and non-GAAP EPS of $2.55-$2.65, while cash flow guidance increased to $642M-$662M. We believe the significant margin expansion, with non-GAAP operating margin up 550 bps to 27.3%, reflects strong operational leverage and effective cost discipline as the company continues optimizing its structure.

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