Streetbeat News

Analyst Ratings

BABA

Susquehanna analyst Shyam Patil reiterated Alibaba Group Holding Limited (NYSE:BABA) with a Positive and a $160 price target. Despite facing macro and pandemic pressures, Alibaba's Q1 results showed solid execution and cost controls. The company's restructuring is seen as a potential long-term value driver. Alibaba's EBITDA surpassed estimates, aided by top-line beat and continued cost controls. The company's cloud business is under pressure due to declining hybrid cloud revenues and project delays. Patil estimates Q2 revenue of RMB 207.176 million and FY23 revenue of RMB 868.687 million.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 8:27 pm

ANET

A significant bearish stance has been taken on Arista Networks (NYSE:ANET) by a large investor, as observed in the options history. The overall sentiment of these big-money traders is split between 31% bullish and 68% bearish. Whales have been targeting a price range from $150.0 to $250.0 for Arista Networks over the last 3 months. Citigroup upgraded its action to Buy with a price target of $220 and Argus Research maintained their Buy rating with a price target of $225.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 8:17 pm

BYDDY

TSLA

Tesla Inc (NASDAQ:TSLA) has been reducing its prices in China due to competition, not because it has to, according to Ark Invest founder Cathie Wood. She believes Tesla's strategic position in China allows it to cut prices without significant revenue reductions. Wood also mentioned the competition Tesla faces from manufacturers like Warren Buffett-backed BYD Company ADR (OTC:BYDDY). Tesla's Chinese strategy is a critical part of its global vision, as it transitions to lithium iron phosphate chemistries, further reducing costs.

Portfolio Pulse from AJ Fabino

August 31, 2023 | 8:09 pm

TLYS

Tilly's (NYSE:TLYS) reported Q2 losses of $(0.04) per share, beating the analyst consensus estimate of $(0.20) by 80 percent. This is a 130.77 percent decrease over earnings of $0.13 per share from the same period last year. The company also reported quarterly sales of $159.95 million, beating the analyst consensus estimate of $150.91 million by 5.99 percent, but a 4.97 percent decrease over sales of $168.31 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 8:06 pm

HCP

HashiCorp (NASDAQ:HCP) reported Q2 earnings per share (EPS) of $(0.10), beating the analyst consensus estimate of $(0.15) by 33.33%. The company also reported quarterly sales of $143.25M, surpassing the analyst consensus estimate of $138.22M by 3.64%. Both EPS and sales figures represent significant increases over the same period last year.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 8:04 pm

NSC

Norfolk Southern's (NYSE:NSC) short percent of float has risen 7.69% since its last report, with 2.53 million shares sold short, which is 1.12% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. Norfolk Southern's peer group average for short interest as a percentage of float is 0.84%, indicating the company has more short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 8:00 pm

ETN

Eaton Corp's (NYSE:ETN) short percent of float has fallen 8.82% since its last report, with 3.72 million shares sold short, which is 0.93% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards the stock. Compared to its peers, Eaton Corp has less short interest as a percentage of float, with an average of 10.97%.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 8:00 pm

ADI

A significant bearish stance has been taken on Analog Devices (NASDAQ:ADI) by a large investor, as observed in the options history. The overall sentiment of these big-money traders is split between 22% bullish and 77% bearish. The whales have been targeting a price range from $150.0 to $210.0 for Analog Devices over the last 3 months. The current price of ADI is $182.04, up 0.26%. Analysts from Morgan Stanley, UBS, Susquehanna, Raymond James, and Goldman Sachs have maintained their ratings on ADI with price targets ranging from $185 to $215.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 7:33 pm

ABCL

LLY

Benchmark analyst Robert Wasserman has reiterated a Buy rating on AbCellera Biologics Inc. (ABCL), but lowered the price target to $12 due to reduced valuations for other drug discovery stocks. AbCellera's shares have declined recently as royalties from sales of R&D partner Eli Lilly And Company's (LLY) COVID-19 antibody therapeutics have disappeared. However, the analyst notes that AbCellera has seven molecules in the clinical pipeline and the long-term prospects for new partnerships and royalty revenues look positive.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 7:18 pm

VEEV

A significant investor has taken a bearish stance on Veeva Systems (VEEV), with 80% of recent trades being bearish. The trades range from $195.0 to $230.0. The price of VEEV is up 8.05% at $208.09, but RSI indicators suggest it may be overbought. Analysts from Baird, UBS, RBC Capital, Raymond James, and Citigroup have maintained their ratings, with price targets ranging from $205 to $242.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 7:18 pm