Streetbeat News

Earnings

MEG

Montrose Environmental Group's shares surged following the announcement of Q4 earnings surpassing expectations and the issuance of FY24 revenue guidance that exceeded consensus estimates.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 7:03 pm

MRK

Merck & Co (NYSE:MRK) has seen a variety of analyst ratings over the past three months, with a general trend towards bullishness. The average 12-month price target for MRK has been raised to $137.2, indicating a 6.63% increase from the previous target. Analysts from firms like Cantor Fitzgerald, Truist Securities, UBS, Wells Fargo, Barclays, and TD Cowen have adjusted their ratings and price targets, reflecting optimism about the company's performance. Despite this, Merck's financials show challenges in profitability and asset utilization, with a net margin of -8.38% and an ROA of -1.15%.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 7:01 pm

AUMN

BFLY

ENVB

JL

SCTL

Butterfly Network, Inc. (BFLY) shares fell by 22% after reporting a larger-than-expected GAAP loss for Q4, despite beating sales estimates. Other stocks experienced significant movements, with Enveric Biosciences, Inc. (ENVB) and Societal CDMO, Inc. (SCTL) among the top gainers, while J-Long Group Limited (JL) and Golden Minerals Company (AUMN) led the losers.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 7:00 pm

IHRT

iHeartMedia's stock price increased following the announcement of their fourth-quarter sales, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 6:59 pm

AI

C3.Ai, Inc. (NYSE:AI) sees positive analyst outlook amid unprecedented AI demand, with Wedbush raising its price target to $40 from $35 following Q3 revenue beat. Other analysts also provided updates, highlighting the company's growth potential, partner ecosystem strength, and the impact of generative AI on customer engagement. Despite concerns about technological differentiation and model visibility, the consensus points towards significant growth opportunities for C3.Ai.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 6:57 pm

BITF

CLSK

MARA

RIOT

Bitcoin mining stocks, including Marathon Digital Holdings, Inc. (MARA), Bitfarms Ltd. (BITF), Cleanspark, Inc. (CLSK), and Riot Platforms, Inc. (RIOT), are experiencing a pullback following a recent rally. The downturn is partly attributed to Marathon Digital's mixed Q4 results and a cooling Bitcoin rally. Despite the mixed results, HC Wainwright & Co. maintained a Buy rating on MARA, raising the price target from $24 to $35.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 6:57 pm

AMZN

CELH

Celsius Holdings Inc (NASDAQ:CELH) shares hit all-time highs after reporting Q4 revenue of $347.44 million and EPS of 17 cents, surpassing estimates. CEO John Fieldly remains optimistic about the energy drink maker's growth potential, highlighting its position as the third-largest in the U.S. and the best-selling brand on Amazon. The company's focus on health-conscious consumers and innovative products like the 'Fizz-free' line are key growth drivers.

Portfolio Pulse from Adam Eckert

February 29, 2024 | 6:46 pm

DH

Definitive Healthcare Corp (NASDAQ:DH) reported Q4 2023 earnings with an adjusted EPS of $0.07, missing the consensus of $0.08, and sales of $65.93 million, slightly below the consensus of $66.02 million. The company grew its enterprise client base by 5% Y/Y. For FY 2024, it expects revenue of $263-$269 million versus the consensus of $269.63 million, and an adjusted EPS of $0.37-$0.40, above the consensus of $0.32. Analysts from Canaccord Genuity and William Blair provided mixed views, citing challenges but also noting management's efforts and optimism.

Portfolio Pulse from Vandana Singh

February 29, 2024 | 6:37 pm

SRCL

Stericycle, Inc. (NASDAQ:SRCL) reported Q4 earnings of 54 cents per share, surpassing estimates of 47 cents, but missed revenue expectations with $652.00 million against the forecasted $657.93 million. The company's income from operations decreased to $37.1 million from $59.1 million year-over-year. Despite facing headwinds, Stericycle made significant progress in its business priorities, including ERP deployment and completing eight divestitures. Following the report, Stericycle's shares dropped by 2.5% to $54.28. Analysts from Truist Securities, Stifel, and RBC Capital adjusted their price targets on Stericycle, reflecting a mixed but generally positive outlook.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 6:19 pm

CLSK

MARA

RIOT

Crypto stocks are trading lower, influenced by recent pullbacks and mixed Q4 financial results from Marathon Digital. Stocks like CLSK and RIOT are also affected.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 6:18 pm