Benzinga's Top Ratings Upgrades, Downgrades For June 2, 2023
Portfolio Pulse from Benzinga Insights
Benzinga has released its top ratings upgrades and downgrades for June 2, 2023, with several companies receiving upgrades, downgrades, and initiations. Some of the notable upgrades include Surgery Partners, Elastic NV, Kinsale Capital Group, Banco De Chile, EPR Properties, FibroGen, and The Trade Desk. Downgrades include Dollar General, SentinelOne, Asana, BRP, PagerDuty, Valvoline, and Xcel Energy. Initiated coverage includes Praxis Precision Medicines, Peakstone Realty Trust, Fluence Energy, Eos Energy Enterprises, Amprius Technologies, Movella Holdings, Bowlero Corp, Automatic Data Processing, Paychex, Kopin Corp, Kura Sushi USA, Orla Mining, Regenxbio, Ascent Industries, Ambrx Biopharma, Quaker Houghton, Arbor Realty Trust, and Acrivon Therapeutics.
June 02, 2023 | 3:01 pm
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POSITIVE IMPACT
Elastic NV upgraded from Underweight to Equal-Weight by Wells Fargo. The company reported an EPS of $0.22 in Q4, compared to $0.16 in the year-ago quarter. The stock closed at $71.66 at the end of the last trading period.
The upgrade from Underweight to Equal-Weight by Wells Fargo indicates a more positive outlook for Elastic NV. The company's Q4 EPS of $0.22, which is higher than the year-ago quarter, shows potential for growth. This upgrade is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Kinsale Capital Group upgraded from Underperform to Outperform by BMO Capital. The company reported an EPS of $2.44 in Q1, compared to $1.63 in the year-ago quarter. The stock closed at $312.48 at the end of the last trading period.
The upgrade from Underperform to Outperform by BMO Capital indicates a more positive outlook for Kinsale Capital Group. The company's Q1 EPS of $2.44, which is significantly higher than the year-ago quarter, shows potential for growth. This upgrade is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Jefferies initiated coverage on Praxis Precision Medicines with a Buy rating and a price target of $4.00. The company reported an EPS of $0.71 in Q1, compared to $1.51 in the year-ago quarter. The stock closed at $0.88 at the end of the last trading period.
The initiation of coverage by Jefferies with a Buy rating and a price target of $4.00 indicates a positive outlook for Praxis Precision Medicines. The company's Q1 EPS of $0.71, although lower than the year-ago quarter, still shows potential for growth. This initiation is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Surgery Partners upgraded from Neutral to Buy by B of A Securities. The company reported an EPS of $0.08 in Q1, compared to $0.09 in the year-ago quarter. The stock closed at $38.16 at the end of the last trading period.
The upgrade from Neutral to Buy by B of A Securities indicates a positive outlook for Surgery Partners. The company's Q1 EPS of $0.08, although slightly lower than the year-ago quarter, still shows potential for growth. This upgrade is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Asana downgraded from Buy to Neutral by DA Davidson. The company reported an EPS of $0.09 in Q1, compared to $0.30 in the year-ago quarter. The stock closed at $22.85 at the end of the last trading period.
The downgrade from Buy to Neutral by DA Davidson indicates a less positive outlook for Asana. The company's Q1 EPS of $0.09, which is significantly lower than the year-ago quarter, may have contributed to the downgrade. This downgrade is likely to have a negative impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Dollar General downgraded from Overweight to Neutral by Atlantic Equities. The company reported an EPS of $2.34 in Q1, compared to $2.41 in the year-ago quarter. The stock closed at $161.86 at the end of the last trading period.
The downgrade from Overweight to Neutral by Atlantic Equities indicates a less positive outlook for Dollar General. The company's Q1 EPS of $2.34, which is slightly lower than the year-ago quarter, may have contributed to the downgrade. This downgrade is likely to have a negative impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
SentinelOne downgraded from Buy to Neutral by BTIG, DA Davidson, and Canaccord Genuity. The company reported an EPS of $0.15 in Q1, compared to $0.21 in the year-ago quarter. The stock closed at $20.72 at the end of the last trading period.
The downgrade from Buy to Neutral by multiple analysts indicates a less positive outlook for SentinelOne. The company's Q1 EPS of $0.15, which is lower than the year-ago quarter, may have contributed to the downgrade. This downgrade is likely to have a negative impact on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100