ePlus price target raised to $65 from $55 at Stifel

Stifel raised the firm’s price target on ePlus to $65 from $55 and keeps a Hold rating on the shares after the company’s fiscal Q1 sales and adjusted EPS came in ahead of the firm’s estimates and the company issued guidance for FY24 “to our pleasant surprise.” However, given the significant year-over-year growth in Q1, the sales guidance implies significantly slower growth in the second half of FY24 and the EBIDTA guidance implies lower operating margin year-over-year, the analyst tells investors.