Streetbeat News

Analyst Ratings

PLTR

Palantir Technologies Inc (NYSE:PLTR) shares continue to rise, following a more than 30% rally on Tuesday, driven by better-than-expected quarterly results and strong demand for its AI platforms. The company reported a 20% year-over-year increase in fourth-quarter revenue to $608 million, surpassing the consensus estimate. Commercial revenue grew 32%, with U.S. commercial revenue up 70% year-over-year. Analysts from Jefferies, Citigroup, Raymond James, Wedbush, and Mizuho have issued positive updates, upgrading the stock or raising price targets to between $18 and $30 per share.

Portfolio Pulse from Adam Eckert

February 07, 2024 | 4:43 pm

FTNT

Fortinet Inc (NASDAQ:FTNT) shares rose in premarket trading after reporting better-than-expected Q4 results, with several analysts adjusting their ratings and price targets. The company's billings outperformed expectations, driven by large deals and early success in SASE and SecOps. Despite some concerns over product revenue decline and competitive pressures, the overall sentiment is positive, with a focus on Fortinet's growth and profitability strategy.

Portfolio Pulse from Priya Nigam

February 07, 2024 | 4:39 pm

AVNW

JMP Securities analyst Erik Suppiger has reiterated a 'Market Outperform' rating on Aviat Networks (NASDAQ:AVNW) and maintained a $50 price target.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:36 pm

ACAD

JMP Securities analyst Jason Butler has reiterated a 'Market Outperform' rating on ACADIA Pharmaceuticals (ACAD) and maintained a $42 price target.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:33 pm

KRE

NYCB

Shares of New York Community Bancorp (NYCB) plummeted over 10% to below $4, reaching a low not seen since March 1997, amid concerns over its commercial real estate loan exposure. Bank of America and JPMorgan downgraded NYCB, citing risks and regulatory scrutiny, while Piper Sandler remained bullish. NYCB stated its liquidity is ample, despite downgrades from Fitch and Moody's. The SPDR S&P Regional Banking ETF (KRE) also fell by 1.6%, marking its potential sixth negative session in seven days.

Portfolio Pulse from Piero Cingari

February 07, 2024 | 4:32 pm

TSM

Investors have shown a bearish stance on Taiwan Semiconductor (NYSE:TSM) through unusual options activity, with a sentiment split of 39% bullish and 60% bearish. Notable trades include both puts and calls with a target price range of $80.0 to $150.0. The company, a leading chip foundry with a significant market share, has seen its stock price increase by 0.51% to $119.99. Analysts, including one from Barclays, maintain an Overweight rating with a target price of $125.0.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 4:31 pm

BAC

Bank of America (NYSE:BAC) has seen significant options trading activity, with a bullish sentiment from the majority of investors. Analysis of 10 trades shows 60% bullish and 40% bearish expectations. Notable options activity includes a mix of calls and puts with varying sentiments and strike prices ranging from $25.0 to $34.0. The company, a major financial institution in the U.S., is currently trading at $33.08 with a neutral RSI. Analysts have set an average price target of $41.98, with ratings ranging from Market Perform to Overweight.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 4:31 pm

COIN

Deep-pocketed investors have shown a bearish sentiment towards Coinbase Glb (NASDAQ:COIN), with options trading data revealing a significant move. Benzinga's options scanner detected 27 unusual activities, with a bearish majority among investors. The price target for COIN is set between $85.0 and $200.0. Recent options trades include both calls and puts with varying sentiments and expiration dates. Coinbase, a leading cryptocurrency exchange, is focusing on expanding its services. The stock is currently neutral with an upcoming earnings report. Analyst ratings vary, with an average target price of $126.2.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 4:30 pm

SGMT

JMP Securities analyst Jonathan Wolleben maintains a Market Outperform rating on Sagimet Biosciences (NASDAQ:SGMT) but lowers the price target from $47 to $46.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 4:25 pm