Streetbeat News

Analyst Ratings

META

Meta Platforms, Inc. (NASDAQ:META) shares are trading higher ahead of its Q2 earnings report due in 8 days. The EPS is estimated at $2.90 and revenue at $31.06 billion. Goldman Sachs analyst Eric Sheridan has maintained a 'Buy' rating for Meta and raised the price target from $300 to $335. The stock has rallied 43.33% over the past three months and 86.74% since the start of the year.

Portfolio Pulse from Ryan Gustafson

July 18, 2023 | 6:40 pm

ARGX

IMVT

Immunovant Inc's (NASDAQ:IMVT) FcRn strategy gains momentum as analysts view the ADHERE study as a de-risking factor for CIDP clinical development. The study was conducted by Argenx SE (NASDAQ:ARGX). Stifel has increased the price target for Immunovant from $28 to $34, and HC Wainwright has revised its price target from $27 to $29. The positive ADHERE data supports the autoantibody hypothesis in CIDP, suggesting that most CIDP patients could benefit from an FcRn inhibitor.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:39 pm

RBLX

Truist Securities analyst Matthew Thornton has reiterated a Hold rating on Roblox Corporation (RBLX), raising the price target to $45 from $42. Thornton believes AI will have a significant impact on RBLX's content creation and cost structure, particularly in Trust & Safety costs. He also expects RBLX to expand to other platforms, with Xbox accounting for at least 2% of RBLX bookings in 2022. Thornton estimates daily user growth of 23%/18%/15% in 2023/2024/2025 and views the forward consensus AEBITDA as too low in the short term.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 6:39 pm

EA

Truist Securities analyst Matthew Thornton has reiterated a Buy rating on Electronic Arts Inc. (NASDAQ:EA), raising the price target to $150 from $138. The analyst is optimistic about the company's long-term games pipeline and M&A optionality. Based on pipeline strength, the analyst raised the bookings outlook for Q1. EA shares are currently trading lower by 0.22% to $137.91.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 6:37 pm

CABA

Guggenheim Securities has initiated coverage of Cabaletta Bio Inc (CABA) with a Buy rating and a price target of $34. The positive outlook is based on the development of its CD19 CAR-T cell therapy CABA-201, currently in development for lupus and myositis. The company has successfully pivoted to treating a new disease using a well-established approach. CABA shares are up 11.90% at $13.99.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:28 pm

AMGN

SFTBY

Neumora Therapeutics, backed by Softbank Group Corp and Amgen Inc, has announced plans for three Phase 3 studies for its major depressive disorder (MDD) candidate Navacaprant. The studies will evaluate the once-daily navacaprant oral monotherapy for MDD, with the first trial expected to start in 3Q23. The announcement follows the successful completion of a Phase 2 study with navacaprant, which showed promising results in reducing symptoms of depression.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:24 pm

SEDG

Barclays has maintained an Overweight rating on SolarEdge Technologies but lowered its price target from $390 to $359. This has led to a decrease in the trading price of SolarEdge shares.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:23 pm

LLY

Unusual options activity has been observed for Eli Lilly (NYSE:LLY), with 17 options trades spotted, split between 52% bullish and 47% bearish. The big-money traders have been targeting a price range from $330.0 to $520.0 for Eli Lilly over the last 3 months. The current price of LLY is up 1.06% at $451.87. Analysts from Truist Securities, Cantor Fitzgerald, and Morgan Stanley have given their ratings and price targets for the company.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:15 pm

NOW

A significant investor has taken a bearish stance on ServiceNow (NYSE:NOW), with 55% of investors opening trades with bearish expectations. The whales have been targeting a price range from $450.0 to $660.0 for ServiceNow over the last 3 months. The price of NOW is up 1.21% at $599.52, with RSI indicators suggesting the stock may be approaching overbought. The next earnings are expected to be released in 8 days.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:15 pm

AMD

Advanced Micro Devices, Inc. (AMD) shares are trading lower ahead of its Q2 earnings report due in 14 days. The company is expected to report earnings per share of 57 cents and revenue of $5.31 billion. B of A Securities analyst Vivek Arya maintained a Neutral rating on AMD and lowered the price target from $135 to $130. Over the past 3 months, AMD's stock has risen by 30.55%.

Portfolio Pulse from Ryan Gustafson

July 18, 2023 | 6:14 pm