Streetbeat News

Analyst Ratings

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) stock is trading lower, down over 17% in the past five days. Deutsche Bank downgraded Rivian from Buy to Hold and lowered its price target from $29 to $19, citing expected volume guidance of only 65,000 units, factory shutdowns, and a slow ramp-up leading to potential heavy losses through Q3 2024. Rivian also announced the availability of its R1S electric SUV for leasing. The stock is trading below its 50-day moving average, and a high percentage of shares are being sold short, contributing to volatility. Analysts rate Rivian as Neutral, with Deutsche Bank's Emmanuel Rosner being the most bearish.

Portfolio Pulse from Erica Kollmann

January 18, 2024 | 6:34 pm

PI

Needham analyst James Ricchiuti raised the price target for Impinj Inc (PI) to $115 from $85 and maintained a Buy rating, reflecting optimism for better-than-expected Q4 2023 results. Impinj now expects revenue over $70 million, surpassing prior guidance and consensus estimates, with adjusted EBITDA of more than $2.5 million. The increase is attributed to higher endpoint revenue and sequential growth in systems revenue. Management sees early-stage growth with enterprise customers and potential for leveraging solutions with other partners. The retail apparel inventory overhang is nearing an end, and PI is expected to return to strong growth in H2 FY24 and FY25. Ricchiuti raised FY24 revenue estimates to $329.0 million and introduced an FY25 estimate of $400.5 million. PI shares rose 3.49% to $94.25.

Portfolio Pulse from Lekha Gupta

January 18, 2024 | 6:31 pm

ARGX

HALO

Halozyme Therapeutics Inc (NASDAQ:HALO) provided its first five-year financial guidance, projecting revenue growth and increased EPS through 2028. For 2023, Halozyme expects revenues slightly below consensus but higher EPS. By 2028, revenues are forecasted to reach $1.565-$1.69 billion. HC Wainwright remains optimistic, despite lowering the price target for Argenx SE (NASDAQ:ARGX) from $61 to $48, maintaining a Buy rating. Analysts see potential in Halozyme's Enhanze platform and anticipate new partnerships. The U.S. infusion therapy market, where Enhanze could grow, is valued at $41.7 billion. HALO shares dropped 4.66% to $34.36.

Portfolio Pulse from Vandana Singh

January 18, 2024 | 6:28 pm

SHAK

Analyst comments indicate that Shake Shack has increased delivery menu prices by approximately 5%, leading to an overall 1% increase in their total menu price. This move is expected to help drive margin expansion for the company in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:18 pm

UPST

Four financial analysts have recently reviewed Upstart Holdings (NASDAQ:UPST), with a consensus leaning towards a bearish outlook. Over the past three months, there have been three 'Somewhat Bearish' and one 'Indifferent' ratings, with no 'Bullish' or 'Somewhat Bullish' opinions. The average 12-month price target for UPST is now $21.5, down from $27.33, with individual targets ranging from $10.00 to $27.00. Upstart Holdings, a provider of AI-enabled credit services, has seen a 14.42% decline in revenue growth and struggles with profitability and asset utilization, as indicated by its net margin of -29.96%, ROE of -6.3%, and ROA of -2.14%. The company's market capitalization is below the industry average, and it maintains a debt-to-equity ratio of 1.71.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:01 pm

V

Visa (NYSE:V) received mixed reviews from 9 analysts in the last quarter, with an average 12-month price target of $280.33, reflecting a 3.17% increase from the previous target. Analysts' actions included raising, maintaining, and lowering ratings and price targets. Visa's financial performance shows a revenue growth rate of 10.56%, a net margin of 54.37%, an ROE of 12.05%, an ROA of 5.21%, and a debt-to-equity ratio of 0.53.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:00 pm

ANET

Arista Networks (NYSE:ANET) received mixed analyst ratings with an average 12-month price target of $243.3, a 15.13% increase from the previous target. Analysts from Keybanc, Melius Research, Morgan Stanley, Piper Sandler, Goldman Sachs, Needham, and JMP Securities have raised their price targets, indicating a positive outlook. Arista Networks, a provider of networking equipment, has shown strong financial performance with significant revenue growth, high net margin, and excellent ROE and ROA, while maintaining low debt.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:00 pm

IONS

Ionis Pharmaceuticals (NASDAQ:IONS) has received mixed evaluations from 8 analysts over the last three months, with ratings ranging from bullish to bearish. The average 12-month price target is $52.75, up 21.74% from the previous $43.33, with a high estimate of $62.00 and a low of $28.00. Analysts from firms including Piper Sandler, B of A Securities, Needham, Stifel, Goldman Sachs, and Morgan Stanley have updated their ratings and price targets, reflecting changes in market conditions and company performance. Ionis Pharmaceuticals specializes in antisense technology and has launched several drugs, including Spinraza and Qalsody. Despite a strong market position indicated by its market capitalization, the company has seen a -9.74% decline in revenue growth and has challenges with net margin, ROE, ROA, and a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 6:00 pm

ABBV

ADSK

PFE

On CNBC's Halftime Report, the final trades segment featured recommendations for Pfizer (PFE), Autodesk (ADSK), and AbbVie (ABBV). These companies were highlighted as potential investment opportunities.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 6:00 pm

NFLX

Piper Sandler analyst Matt Farrell has maintained a Neutral rating on Netflix (NASDAQ:NFLX) and increased the price target from $400 to $475.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 5:56 pm