ARM's Price Target Raised to $200.00 by Citigroup

ARM (NASDAQ:ARM) received a significant boost from Citigroup, as the brokerage firm raised its price target from $170.00 to $200.00 in a recent research report released on Thursday. With this adjustment, Citigroup has maintained a "buy" rating on the stock, indicating a positive outlook. The new price target suggests a potential upside of 15.43% from ARM's current stock price.

Analyst Ratings and Price Adjustments

In addition to Citigroup's report, several other financial institutions have also updated their ratings for ARM. Jefferies Financial Group, for instance, elevated its price target from $170.00 to $195.00, while also assigning a "buy" rating to the company. Similarly, Loop Capital increased their price target from $130.00 to $180.00, also maintaining a "buy" rating.

Moreover, JPMorgan Chase & Co. raised their target from $160.00 to $175.00, giving ARM an "overweight" rating. Evercore ISI set a price target of $202.00 with an "outperform" rating. Lastly, The Goldman Sachs Group increased its target from $159.00 to $174.00, supporting a "buy" rating. In total, among analysts, two have rated ARM as a sell, six have given it a hold rating, nineteen have issued a buy rating, and one has assigned a strong buy rating. According to MarketBeat, the consensus rating for ARM is "Moderate Buy" with an average price target of $161.17.

ARM's Recent Price Performance

ARM shares opened at $173.26 on Thursday. The company's 50-day moving average price stands at $143.45, while the 200-day moving average is $139.80. With a market capitalization of $181.55 billion, ARM's P/E ratio is currently at 288.77, and its P/E/G ratio is 7.46. ARM has a fifty-two week low of $71.80 and a high of $188.75.

ARM last reported its quarterly earnings on November 6th, revealing earnings of $0.30 per share, surpassing analysts' estimates of $0.26 by $0.04. The company's revenue for the quarter was $844.00 million, more than the projected $810.03 million. In terms of performance, ARM's return on equity is at 13.69%, with a net margin of 18.13%. When compared to the same quarter last year, ARM's revenue saw a growth of 4.7%. Analysts are currently predicting that ARM will report earnings of $0.84 per share for the entire year.

Institutional Investor Activity

Recent activity from institutional investors has also reflected confidence in ARM. Sanctuary Advisors LLC invested approximately $737,000 in ARM during the second quarter. Park Avenue Securities LLC raised its position in ARM by 8.6% in the third quarter and now holds 2,780 shares valued at around $398,000. Brookstone Capital Management increased its stake by 12.4%, now owning 1,411 shares valued at around $202,000. CWM LLC also boosted its holdings in ARM by 19.6%, acquiring an additional 17,769 shares for a total of 108,372 shares valued at about $15.5 million. Institutional investors and hedge funds currently own 7.53% of ARM’s stock.

About ARM

Arm Holdings plc is known for designing and licensing central processing unit products and related technologies that are fundamental for semiconductor companies and original equipment manufacturers. Their offerings include microprocessors, systems intellectual property (IPs), graphics processing units, physical IP, and additional systems IPs, alongside software, tools, and various related services.

Price, Target, Stock