Arm Holdings PLC  (NASDAQ:ARM) shares were climbing Thursday after the company reported upbeat fiscal second-quarter results.

The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.

Goldman Sachs On Arm Holdings

Analyst Toshiya Hari reiterated a Buy rating while raising the price target from $144 to $159.

Arm reported its quarterly revenues at $844 million, 4% higher than consensus, Hari said in a note. The company’s non-GAAP earnings of 30 cents per share and gross margins of 97.2% also beat expectations, Hari added.

The midpoint of management’s fiscal third-quarter guidance for revenue and non-GAAP earnings guidance, at $945 million and 34 cents per share, came in 1% and 2% above consensus, respectively, the analyst stated. Arm is likely to be “a long-term share gainer, particularly in the Cloud Infrastructure, PC and Automotive end-markets,” while there is “upside potential to royalty rates over the medium-term as adoption of v9 …

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