Streetbeat News

Analyst Ratings

AXNX

Keybanc analyst Matthew Mishan maintains an Overweight rating on Axonics (NASDAQ:AXNX) and raises the price target from $70 to $71.

Portfolio Pulse from richadhand@benzinga.com

July 28, 2023 | 8:29 am

APPF

Keybanc analyst Jason Celino maintains an Overweight rating on AppFolio (NASDAQ:APPF) and raises the price target from $190 to $210.

Portfolio Pulse from richadhand@benzinga.com

July 28, 2023 | 8:28 am

CL

Colgate-Palmolive (NYSE:CL) is expected to report higher Q2 earnings of 75 cents per share, up from 72 cents per share a year ago, with revenues of $4.69 billion. The company's shares fell 1.1% to close at $77.11 on Thursday. Several analysts have recently adjusted their price targets for the company, with most raising their targets.

Portfolio Pulse from Lisa Levin

July 28, 2023 | 6:45 am

PFS

Provident Financial Services (NYSE:PFS) reported Q2 earnings of $0.43 per share, missing the analyst consensus estimate of $0.44 by 2.27%. This is a decrease of 18.87% from the same period last year. However, the company reported quarterly sales of $118.49 million, beating the analyst consensus estimate of $114.13 million by 3.82%, a 19.12% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 5:13 am

CC

Chemours (NYSE:CC) reported Q2 earnings of $1.10 per share, beating the analyst consensus estimate of $1.07 by 2.8%. However, this is a 41.8% decrease from the same period last year. The company's quarterly sales were $1.64 billion, missing the analyst consensus estimate of $1.69 billion by 2.96%, and marking a 14.36% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 28, 2023 | 5:02 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is reportedly under scrutiny for allegedly forming a secret team to handle customer complaints about range issues. The team, known as the 'Diversion Team', was tasked with cancelling as many range-related appointments as possible. The company's performance was evaluated based on the average number of diverted appointments per day, each diversion reportedly saving the company $1,000. However, Gary Black from Future Fund dismissed the report, stating that the EPA sets the advertised battery range for each EV, making it difficult for Tesla to manipulate.

Portfolio Pulse from Shanthi Rexaline

July 28, 2023 | 4:59 am

F

TSLA

Ford Motor Co (NYSE:F) CEO Jim Farley has revised the company's EV production targets and increased loss forecasts. The company now aims for a 600,000 EV production run-rate in 2024, with no set deadline for the previously targeted two million EV production run rate. The EV segment is now expected to bring a loss of $4.5 billion this year, up from the previous guidance of $3 billion. Farley's comments on EV pricing echo those of Tesla Inc (NASDAQ:TSLA) CEO Elon Musk, who recently warned of further price cuts on its vehicles.

Portfolio Pulse from Anan Ashraf

July 28, 2023 | 4:46 am

F

GM

TSLA

Despite a 30% YoY decrease in the resale value of used Tesla vehicles, CEO Elon Musk remains unconcerned. Analysts suggest this trend could drive buyers towards competitors like Ford and GM. Tesla continues to lead the market, breaking quarterly production and delivery records while reducing prices. However, industry experts believe Tesla's challenges could intensify over time, potentially driving buyers towards competitors.

Portfolio Pulse from Benzinga Neuro

July 28, 2023 | 3:41 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline due to the U.S. central bank's decision to implement 25 basis point interest rate hikes. Large Bitcoin investors are currently showing a reluctance to buy or sell more of the asset. Analysts predict that Bitcoin could reach six figures before halving in 2024, with the approval of a spot Bitcoin exchange-traded fund potentially triggering a rally.

Portfolio Pulse from Mehab Qureshi

July 28, 2023 | 2:44 am

ACCD

ARKF

ARKG

SOFI

SURF

Ark Invest, led by Cathie Wood, purchased 133,191 shares of SoFi Technologies Inc (NASDAQ:SOFI) worth $1.2 million, despite Morgan Stanley's recent downgrade of the company. The purchase was made through Ark Fintech Innovation ETF (NYSE:ARKF). Ark Invest's ARK Genomic Revolution ETF (BATS:ARKG) also bought 25,078 shares of Accolade Inc (NASDAQ:ACCD) and sold 916 shares of Surface Oncology Inc (NASDAQ:SURF).

Portfolio Pulse from Benzinga Neuro

July 28, 2023 | 1:43 am