William Blair analyst Maggie Nolan has maintained their bullish stance on CDW stock, giving a Buy rating yesterday.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Maggie Nolan’s rating is based on CDW’s strong financial performance in the first quarter, where the company exceeded consensus estimates for both revenue and earnings per share. CDW reported a 6.7% year-over-year increase in net sales, reaching $5.20 billion, surpassing the expected $4.93 billion. The company also saw significant growth in hardware, software, and services, with services leading at a 14% increase.
Moreover, CDW’s management has reiterated its positive outlook for 2025, anticipating low-single-digit IT spending growth and a premium for CDW’s net sales growth. Despite some uncertainties related to tariffs and infrastructure investments, CDW has experienced strong demand, particularly in client devices and education sectors. This solid demand, coupled with a prudent management outlook that accounts for potential challenges in government and education channels, supports the Buy rating.
In another report released yesterday, Northcoast Research also maintained a Buy rating on the stock with a $210.00 price target.