William Blair analyst Ralph Schackart has maintained their bullish stance on DLB stock, giving a Buy rating on July 23.
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Ralph Schackart has given his Buy rating due to a combination of factors that highlight Dolby Laboratories’ potential for growth and solid financial performance. Despite the ongoing macroeconomic uncertainties impacting the markets where Dolby licenses its technology, the company remains optimistic about achieving its long-term goal of double-digit revenue growth once market conditions stabilize. Licensing revenues have shown a positive trend, increasing by 8.5% this quarter, which is a promising sign of the company’s resilience and market demand for its technologies.
Furthermore, Dolby is making significant strides in the automotive sector, with Audi integrating Dolby Atmos in several of its models. The company’s strategic capital allocation is also noteworthy, as it repurchased a substantial number of shares and declared a cash dividend, indicating strong financial health and shareholder value commitment. Additionally, Dolby’s technology continues to gain traction across various platforms and devices, with recent launches in smartphones, Chromebooks, TVs, and speakers, further expanding its market presence and reinforcing its growth prospects.
In another report released on July 23, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $87.00 price target.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DLB in relation to earlier this year.