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Citi Upgrades Upstart Holdings Inc (UPST) to Neutral, 'Green Shoots Emerge'
August 7, 2024 7:14 AM EDTCiti analyst Peter Christiansen upgraded Upstart Holdings Inc (NASDAQ: UPST) from Sell to Neutral with a price target of $33.00 (from $15.00).
The analyst comments "2Q24 results were mixed with a 3-4% miss on fee revenue (volume miss) offset by better FV marks. Yet,... More
Fortinet (FTNT) PT Raised to $72 at RBC Capital
August 7, 2024 7:00 AM EDTRBC Capital analyst Dan Bergstrom raised the price target on Fortinet (NASDAQ: FTNT) to $72.00 (from $68.00) while maintaining a Sector Perform rating.
The analyst comments "The quarter had a better tone than the last several, in our view. Highlights included flat billings,... More
Rivian Automotive Inc (RIVN) PT Lowered to $18 at Needham
August 7, 2024 6:55 AM EDTNeedham analyst Chris Pierce lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $18.00 (from $20.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating but lower our price target to $18 post 2Q results and company... More
Airbnb Inc. (ABNB) PT Lowered to $120 at RBC Capital
August 7, 2024 6:25 AM EDTRBC Capital analyst Brad Erickson lowered the price target on Airbnb Inc. (NASDAQ: ABNB) to $120.00 (from $150.00) while maintaining a Sector Perform rating.
The analyst comments "ABNB's print was tough. While the company still maintains industry leading margins with a possible longer-term... More
Airbnb Inc. (ABNB) PT Lowered to $175 at Mizuho
August 7, 2024 6:20 AM EDTMizuho analyst James Lee lowered the price target on Airbnb Inc. (NASDAQ: ABNB) to $175.00 (from $200.00) while maintaining a Outperform rating.
The analyst comments "The company reported a mixed quarter with booking lead time shorter than expectations (mostly in the US), causing room... More
Cantor Fitzgerald Reiterates Overweight Rating on Rivian Automotive Inc (RIVN)
August 7, 2024 6:03 AM EDTCantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $19.00 price target on Rivian Automotive Inc (NASDAQ: RIVN)
The analyst comments "Targeting Modest Positive Gross Margin in 4Q24 and Positive Gross Margins in FY25: In 2Q24, RIVN recorded gross margins of (39%) vs. our estimate of (41%), and vs. 1Q24 gross margins of (44%). Management reaffirmed its expectations to report positive GM in 4Q24 (we model a 4Q24 Gross Margin of 1%), and disclosed that it expects positive... More
JPMorgan Upgrades Lumen (LUMN) to Neutral
August 7, 2024 5:42 AM EDTJPMorgan analyst Philip Cusick upgraded Lumen (NYSE: LUMN) from Underweight to Neutral.
The analyst comments "We upgrade LUMN to Neutral (from Underweight) following recent Private Connectivity Fabric solutions deals totaling $5b with discussions for an additional $7b underway. The pre-funding of these... More
Fortinet (FTNT) PT Raised to $66 at Citi
August 7, 2024 5:25 AM EDTCiti analyst Fatima Boolani raised the price target on Fortinet (NASDAQ: FTNT) to $66.00 (from $65.00) while maintaining a Neutral rating.
The analyst comments "Relative to mixed/negative expectations, FTNTs top-to-bottom outperformance vs. consensus (albeit at high-end guide) offers a reprieve to a soft... More
Fortinet (FTNT) PT Raised to $70 at Jefferies
August 7, 2024 5:19 AM EDTJefferies analyst Joseph Gallo raised the price target on Fortinet (NASDAQ: FTNT) to $70.00 (from $65.00) while maintaining a Hold rating.
The analyst comments "2Q billings of flat yoy was better than feared while 35% op mgn was vastly better than expected. FTNT maintained '24 billings guide... More
Airbnb Inc. (ABNB) PT Lowered to $135 at Citi
August 7, 2024 5:11 AM EDTCiti analyst Ronald Josey lowered the price target on Airbnb Inc. (NASDAQ: ABNB) to $135.00 (from $167.00) while maintaining a Buy rating.
The analyst comments "Although Airbnbs 2Q24 Gross Bookings and EBTIDA came in above consensus, a shortening of the booking window... More
