Streetbeat News

Analyst Ratings

CRM

Piper Sandler analyst Brent Bracelin maintains an Overweight rating on Salesforce (NYSE:CRM) and raises the price target from $248 to $268.

Portfolio Pulse from richadhand@benzinga.com

August 31, 2023 | 8:12 am

AAPL

Apple Inc.'s shares have seen a rebound this year, with a rally prompted by the announcement of the iPhone 15 launch date and hopes of rate cuts. CNBC Mad Money host Jim Cramer noted that the increase in Apple's stock value signifies the company's influence beyond being a handset manufacturer. He also addressed concerns about the iPhone's pricing, suggesting that users may not fully understand the value of the newer models. Deepwater Asset Management's Managing Partner Gene Munster also views Apple's scope as transcending hardware, driven by optimism around Apple's active device installation base.

Portfolio Pulse from Shanthi Rexaline

August 31, 2023 | 7:24 am

UBS

UBS Gr reported Q2 earnings of $8.99 per share, a 1373.77% increase YoY. Quarterly sales were $9.54 billion, beating the analyst consensus estimate of $8.57 billion by 11.32%. Excluding certain costs, 2Q23 PBT was $1.14 billion, with a cost/income ratio of 80.3% and a return on CET1 capital of 4.5%.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 7:04 am

CPB

Campbell Soup Company (NYSE:CPB) is expected to report lower Q4 earnings of 50 cents per share, down from 56 cents per share a year ago. The company's revenue is projected to be $2.06 billion, up from $1.99 billion in the year-ago period. Several analysts have recently adjusted their price targets for the company, with most maintaining a neutral or hold rating.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 7:01 am

MESO

Mesoblast (NASDAQ:MESO) reported Q4 losses of $(0.11) per share, beating the analyst consensus estimate of $(0.57) by 80.7%. However, the company's quarterly sales of $7.50 million missed the analyst consensus estimate of $7.97 million by 5.90%. This represents a 26.47% decrease over sales of $10.20 million from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 6:07 am

BTCUSD

DOGEUSD

MSTR

Dogecoin co-creator Billy Markus proposed the idea of building a Bitcoin temple if the price of Bitcoin reaches one million dollars per coin. The idea was expressed during a discussion with Michael Saylor, CEO of MicroStrategy, who had shared a video about the potential approval of a Bitcoin spot exchange-traded fund (ETF). The prospect of a Bitcoin spot ETF in the United States is becoming increasingly likely, according to analysts. A federal court order has directed the SEC to reconsider its rejection of Grayscale Investments’ application for a Bitcoin spot ETF.

Portfolio Pulse from Mehab Qureshi

August 31, 2023 | 5:40 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a decline as the rally sparked by Grayscale's court victory against the SEC faded. The SEC has been instructed to reconsider its decision to decline Grayscale's proposal to transform its $14 billion Bitcoin Trust into a spot bitcoin ETF. Analysts predict a 16% downside for Bitcoin in September, anticipating $23K levels.

Portfolio Pulse from Mehab Qureshi

August 31, 2023 | 2:23 am

ARKK

BTCUSD

GBTC

Bitcoin (BTC) surged by 4.5% between Monday and Wednesday, marking its best performance since June. The Grayscale Bitcoin Trust (GBTC) won its legal battle against the SEC, allowing the conversion of GBTC into an ETF. This could pave the way for other companies like Bitwise, VanEck, Invesco, Fidelity, and Valkyrie to secure approval for their Bitcoin ETF applications. Cathie Wood, overseer of the ARK Innovation ETF (ARKK), predicts Bitcoin surpassing $1 million by 2030. The net-long positions in Bitcoin futures held by large speculators grew to 1,515 contracts during the week ending Aug. 22, the highest since April 2018.

Portfolio Pulse from Piero Cingari

August 30, 2023 | 9:43 pm

PDD

In the last quarter, PDD Holdings (NASDAQ:PDD) received six analyst ratings, all of which were either bullish or somewhat bullish. The average 12-month price target for PDD Holdings has increased by 13.58% from the previous average, now standing at $122.67.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 9:00 pm

NIO

XPEV

Nio (NYSE:NIO) has provided another disappointing earnings call, while competitor XPeng (NYSE:XPEV) has inked a $700 million development deal with Volkswagen and a $744 million partnership with Didi, a Chinese rideshare giant. Jefferies analysts have retained a Buy rating and $25.30 price target for XPeng.

Portfolio Pulse from Thrash Capital

August 30, 2023 | 8:52 pm