Goldman Sachs Sticks with Marvell Price Target Despite Surging Stock

Goldman Sachs has maintained its Neutral rating on Marvell Technology stock (MRVL) with a price target of $195. The current stock price is significantly above this target, having surged 228% over the past year to $241.42.

The firm believes investor expectations were elevated heading into the quarter due to peers' reports and robust spending at key customers. Marvell posted 34% revenue growth in the last twelve months, with analysts forecasting 40% growth for fiscal 2027.

Goldman Sachs expects investors to focus on updates to the company's CY27/28 Datacenter revenue growth targets and incremental details on the scope of the Google partnership during the upcoming earnings call. The firm also anticipates questions about the shape of the ASIC revenue ramp at Microsoft.