Streetbeat News

Earnings

Susquehanna analyst Shyam Patil has reiterated a Neutral rating on JD.Com, Inc. (NASDAQ:JD), but lowered the price target from $40 to $38. Despite JD.Com's strong Q2 performance, with revenue growth of 7.6% YoY to $39.7 billion, beating consensus, and non-GAAP net income per ADS of $0.74, also beating consensus, Patil warns of macro uncertainties that could weigh on the business. The analyst also noted that JD.Com did not provide quantitative guidance for Q3 and beyond.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 5:55 pm

EXPR

Telsey Advisory Group analyst Dana Telsey has reiterated a High Risk rating on Express, Inc. (NYSE:EXPR), raising the price target to $20 from $2. The company is expected to report 2Q23 results on September 6. The analyst expects Q2 EPS of ($11.11), adjusted for the reverse stock split, and a sales decline of 5.2% Y/Y to $441 million. The company is taking an aggressive approach to reduce costs with $80 million in savings in FY23, a $30 million workforce reduction, and gross margin efforts. However, the analyst maintains the High Risk rating due to the competitive retail environment and margin pressure.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 5:54 pm

MESO

Mesoblast Ltd reported FY23 revenues of $7.5 million, missing the consensus of $7.97 million. The company reported a narrower EPS loss of $(0.11), beating the consensus of $(0.57). Cantor Fitzgerald reiterated the Overweight rating but lowered the price target from $23 to $17 due to a lower probability of success assumptions for MESO's pipeline assets. The analysts see a path forward for remestemcel-L, and Mesoblast's late-stage pipeline of cellular drugs for inflammatory diseases is underappreciated.

Portfolio Pulse from Vandana Singh

August 31, 2023 | 5:49 pm

GMS

GMS Inc. shares are trading lower following the release of the company's Q1 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 5:36 pm

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Several consumer discretionary stocks experienced significant movement during Thursday's intraday session. Caleres, Digital Brands Group, Genesco, Academy Sports, a.k.a. Brands Holding, and GrowGeneration saw gains, with Q2 earnings reports contributing to the rise for Caleres, Genesco, and Academy Sports. Conversely, Lands' End, Duluth Holdings, VinFast Auto, Canoo, Chewy, and Lixiang Education Hldg saw declines, with Q2 earnings reports contributing to the fall for Lands' End, Duluth Holdings, and Chewy.

Portfolio Pulse from Benzinga Insights

August 31, 2023 | 5:31 pm

FIVE

Five Below Inc (NASDAQ:FIVE) has seen multiple price target cuts from analysts following its Q3 guidance, which was below consensus. Despite beating Q2 FY23 sales growth and EPS estimates, the company's Q3 sales and EPS guidance fell short of expectations. However, analysts remain optimistic about the company's long-term growth prospects, citing its Triple-Double strategy and strong merchandising and store remodeling opportunities.

Portfolio Pulse from Lekha Gupta

August 31, 2023 | 4:50 pm

ADBE

Adobe Inc. (NASDAQ:ADBE) shares are trading higher, continuing an upward momentum from the last five days. The company's shares have gained over 8% in the last five days and more than 30% over the last three months. Adobe is set to release its third-quarter financial reports on Sept. 14. The company is expected to report earnings of $3.97 per share and revenue of $4.854 billion for the quarter.

Portfolio Pulse from Erica Kollmann

August 31, 2023 | 4:21 pm

VEEV

Veeva Systems Inc. (VEEV) reported better-than-expected Q2 earnings, leading to an 8.5% rise in its shares. The company reported earnings of $1.21 per share, beating the consensus estimate of $1.13. Sales were $590.20 million, surpassing the estimate of $587.11 million. Full-year 2024 earnings per share are expected to be around $4.68, with revenue between $2.365 billion and $2.370 billion. Several analysts have increased their price targets on Veeva following the earnings announcement.

Portfolio Pulse from Lisa Levin

August 31, 2023 | 4:21 pm

Canadian Imperial Bank reported worse-than-expected Q3 adjusted EPS results, leading to a drop in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 4:16 pm

OKTA

Shares of Okta Inc (NASDAQ:OKTA) surged after the company reported better than expected Q2 earnings. Analysts from BMO Capital Markets, Oppenheimer, RBC Capital Markets, Needham, Raymond James, and William Blair all provided positive feedback on Okta's performance, highlighting improved sales execution, high gross retention, strong upsell/cross-sell activity, and solid margin expansion. The company's integration of Auth0 was also noted as a positive factor.

Portfolio Pulse from Priya Nigam

August 31, 2023 | 4:14 pm