What the analyst said
Jefferies analyst Janardan Menon lowered the price target on Arm Holdings (NASDAQ: ARM) to $170.00 (from $205.00) while maintaining a Buy rating.
“Despite strong results and guidance, Arm’s share is coming under pressure on worries about the impact of rising memory prices on smartphone volumes.
Management expects limited impact as high-end smartphones with v9 and CSS which provide most of the royalty growth are expected to be less affected.
Strong data centre growth is also likely to compensate.
Separately, the ‘Arm Everwhere’ event in March should provide more detail on the silicon strategy.”
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Where the price stands
ARM trades at $201. The 2 analysts who set a target in the last 3 months range from $320 to $641, with a median of $481. This $170 target is 65% below the median, the lowest on the Street.
Since the note ARM has moved +91% (from $105). 12-month window: day 270 of 365, closes on February 5, 2027.
Track record
This call✓ Target reached on April 20, 2026, 2 months after the note.
Firm track recordJefferies: 90% of its 10 targets at least a year old were reached within 12 months. Accuracy ranking →
Jefferies on Arm
Jefferies price targets on Arm
4 calls from February 5, 2026 to July 20, 2026. The target went from $170 to $320 (+88%). The rating stayed Buy.
- July 20, 2026Target raised from $290 (+10%)Buy$320
- May 7, 2026Target raised from $210 (+38%)Buy$290
- March 25, 2026Target raised from $170 (+24%)Buy$210
- February 5, 2026 This noteEarliest call shownBuy$170
