These reports, excerpted and edited by Barron's, were issued recently by investment and research firms. The reports are a sampling of analysts' thinking; they should not be considered the views or recommendations of Barron's. Some of the reports' issuers have provided, or hope to provide, investment-banking or other services to the companies being analyzed.
Uber Technologies -- UBER-NYSE Buy -- $87.57 on Dec. 3 by Gordon Haskett Recently, Uber's chief financial officer, Prashanth Mahendra-Rajah, presented at an investor conference. We continue to be impressed by management's ability to lay the groundwork for sustainable long-term growth drivers and the company's ability to manage insurance costs in a variety of ways. On the autonomous-vehicle front, we remain bullish on the company's strategy and continue to see Uber as a beneficiary of growing robo-taxi adoption.
Over the long term, we believe that Uber has multiple levers in place to continue driving double-digit percentage growth (membership, new mobility offerings, focus on less dense/penetrated markets where a large percentage of the population lives).
Furthermore, with 1) plenty of runway ahead to further grow advertising revenue, which should largely flow through to the bottom line, and 2) a sizable repurchase authorization, we see the shares offering a compelling value. Target price: $122.
American Eagle Outfitters -- AEO-NYSE Hold -- $20.83 on Dec. 2 by TD Cowen Third-quarter 2025 was better than expected, with overall comps up 4% vs. Street's 2.7%, and fourth-quarter 2025 guide exceeded expectations, with comps in the range of 8%-9% vs. Street's 2%. The holiday season is off to a strong start, but we monitor consumer sentiment and spending as well as inventory management. We remain at Hold as we look for the durability and longevity of recent momentum. Target price: $23.
GitLab -- GTLB-Nasdaq Buy -- $39.60 on Dec. 3 by BTIG GitLab posted mixed fiscal third-quarter result, with decent upside on revenue and a downtick in current remaining performance obligations/bookings. In addition, the company guided fiscal fourth-quarter 2026 in line with prior expectations. Most notably, GitLab posted revenue of $244.4 million/24.6% year over year, about 2% ahead of our estimate of $239 million/ 21.9% (Street $239.3 million). While positive, CRPO growth decelerated to 28% in fiscal third quarter versus 31% in fiscal second quarter and 34% in fiscal first quarter.
Similarly, CRPO bookings growth slowed to 19% from 23% last quarter. Lastly, the fiscal fourth-quarter revenue guide $251.5 million/19% Y/Y was in line with Street and prior expectations. On the call, management sounded upbeat about early interest in the Duo Agent platform and the potential for artificial intelligence to expand GitLab's addressable market long term.
However...there is still some uncertainty around the timing of new go-to-market initiatives to drive improved new logo wins. And some questions remain on the potential for self-managed customers to upgrade in order to take advantage of the Duo Agent platform. Target price: $52.
Apple -- AAPL-Nasdaq Outperform -- $283.10 on Dec. 2 by Evercore ISI App Store revenue growth deaccelerated in November, with revs growing 6% Y/Y versus 8% last quarter....We estimate that the App Store represents about 20% of Services revenue and believe that faster-growing Services segments (Apple Pay, iCloud, Licensing, etc.) could help offset slower App Store growth in the December quarter. Target price: $300.
CrowdStrike Holdings -- CRWD-Nasdaq Neutral -- $516.55 on Dec. 2 by Guggenheim CrowdStrike Holdings reported a solid fiscal third quarter, exceeding consensus estimates of both revenue and annual recurring revenue, or ARR, and raised fiscal 2026 revenue guidance by $24 million at the midpoint. We estimate that adjusted new ARR grew 46%, although this was on easier outage-affected year-ago comps, and business momentum as measured by a two-year stack of new ARR growth also improved in the quarter. Adjusted new ARR growth excludes contribution from acquisitions of low-single digit millions, which we assume is about $4 million....
We were impressed by the numbers put up this quarter by the company. Management remained optimistic on its future opportunities with its Next-Gen SIEM, Cloud, Next-Gen Identity, and Endpoint solutions as well as the growing popularity of its Falcon Flex model....
The smoke is slowly starting to clear, and the path for growth is becoming more apparent, but with shares trading at 23 times enterprise value/next 12 months recurring revenue and 72 times our EV/NTM free cash flow, we remain Neutral.
GoDaddy -- GDDY-NYSE Perform -- $128.31 on Dec. 3 by Oppenheimer We attended GoDaddy's annual investor dinner, and came away incrementally positive on management's strategy to improve attach and monetization with Airo AI. GoDaddy demoed the AI app builder, agentic workflows for core small and midsize customers, and Airo for WordPress professionals. Management indicated that agentic functionality will sit behind a paywall with monetization via subscription tiers. Equally important, management emphasized that managing AI costs will be a priority....
Management continues to drive productivity within the Care organization utilizing AI to oversee everyday support tickets, while limiting human involvement on revenue-generating/retention interactions.
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December 05, 2025 19:07 ET (00:07 GMT)
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