Streetbeat News

Earnings

GOOG

GOOGL

Alphabet shares are trading lower after experiencing a surge last week due to strong earnings.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:16 pm

NFLX

A HarrisX survey indicates Netflix's ad-supported subscription tier is the second most popular in the U.S., suggesting over 20 million domestic subscribers. This growth signifies a successful shift towards ad revenue, with potential for further expansion as Netflix plans to eliminate the ad-free Basic plan in some markets. The survey also highlights the ad tier's role in attracting new subscribers, especially younger users, as Netflix focuses more on engagement and ad revenue in a slow-growth model.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:13 pm

FTXL

MCHP

SEMI

Piper Sandler analyst Harsh V. Kumar maintained a Neutral rating on Microchip Technology Inc (NASDAQ:MCHP) with a price target of $80, citing ongoing inventory management and positioning for recovery in H2. The company is focusing on inventory clearances, especially in the auto and industrial sectors, and aims for flat revenue in Q2. Despite the current downturn, MCHP plans to maintain capex and has won a $162 million grant through the CHIPS Act, positioning it well for future cycles. Kumar forecasts Q4 revenue and EPS at $1.33 billion and $0.57, respectively. MCHP stock has gained over 24% in the last 12 months and is part of the Columbia ETF Trust I Columbia Seligman Semiconductor And Technology ETF (NYSE:SEMI) and First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL).

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 3:12 pm

FULT

Fulton Financial's CEO announced during a conference call that the acquisition of Republic Bank is expected to add 20% to Fulton's earnings per share in 2024. Additionally, Fulton's total deposits increased by 20% following the deal.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:09 pm

IMCR

Immunocore Holdings (NASDAQ:IMCR) has received mixed analyst ratings over the past three months, with a recent shift towards more bullish perspectives. The average 12-month price target for IMCR has increased to $81.4, up from $72.60, indicating a positive outlook from analysts. Key financial metrics such as revenue growth, net margin, ROE, and ROA have shown strong performance, with the company outperforming industry averages. Analysts from firms like Leerink Partners, Guggenheim, Needham, JP Morgan, HC Wainwright & Co., Mizuho, Oppenheimer, and Canaccord Genuity have updated their ratings and price targets, reflecting optimism about IMCR's market position and financial health.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:01 pm

ZG

Analyst evaluations of Zillow Group Inc (NASDAQ:ZG) show mixed sentiments with a recent shift towards a more cautious outlook. Over the last three months, 11 analysts have provided ratings, with the latest assessments indicating a decrease in bullishness. The average 12-month price target has been raised to $63.82, reflecting a 21.96% increase from the previous target. Analyst actions include adjustments to ratings and price targets, with some maintaining their positions and others raising or lowering their expectations based on Zillow's market dynamics and performance. Zillow's financial performance shows strong revenue growth and ROE, but challenges in net margin and a conservative debt management approach.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:01 pm

MA

Mastercard (NYSE:MA) is analyzed in comparison with its competitors in the Financial Services industry, focusing on financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, and revenue growth. Mastercard, being the second-largest payment processor globally, shows potential undervaluation based on its P/E ratio, but its high P/B and P/S ratios suggest possible overvaluation. Its ROE, EBITDA, and gross profit are significantly above the industry average, indicating efficient operations and profitability. However, its revenue growth is below the industry average, pointing to a challenging sales environment.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:00 pm

MSFT

The article provides an in-depth competitor analysis of Microsoft (NASDAQ:MSFT) and its position within the Software industry, comparing financial metrics like P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth against its major competitors. Microsoft shows potential for growth with a reasonable P/E ratio, suggests undervaluation with its P/B ratio, but its P/S ratio could indicate overvaluation. Its ROE is below the industry average, yet it has significantly higher EBITDA and gross profit, indicating strong profitability. The company's revenue growth outpaces the industry average, suggesting a positive outlook.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:00 pm

OND

SOCL

SPOT

Daniel Ek, Spotify's co-founder, sold 650,000 shares for about $179 million, still holding a 7% stake. Spotify's stock has risen 267% since late 2022. Ek plans to invest $1 billion in European tech and climate startups. Spotify reported a Q1 2024 revenue of $3.95 billion, a 20% increase year-on-year, with an EPS of $1.05, beating consensus. Analysts are optimistic about Spotify's revenue growth and profitability. Spotify shares are part of the Global X Social Media ETF (SOCL) and ProShares On-Demand ETF (OND).

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 3:00 pm

RVTY

Revvity shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 2:49 pm