Streetbeat News

Earnings

HD

LOW

Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on Home Depot Inc (HD) with a $315 price target. Despite a decline in 2Q23 EPS and a tough consumer spending environment, Home Depot's sales exceeded estimates. The analyst also noted that Home Depot's better-than-expected sales could bode well for Lowe's Companies Inc (LOW). HD shares are currently trading higher by 0.55% at $331.7.

Portfolio Pulse from Shivani Kumaresan

August 15, 2023 | 6:26 pm

ADC

BBY

DG

KR

WMT

Three insiders at Agree Realty Corp. (NYSE:ADC) have recently bought large amounts of company stock, indicating their belief that the stock is undervalued. The purchases were made after a price drop following the company's Q2 2023 earnings announcement. Agree Realty's Q2 revenue was 23.9% higher than the same period in 2022, but missed estimates. The company's year-to-date return is negative 8.79%. Analysts from Stifel and RBC Capital Markets have maintained a positive outlook on Agree Realty, adjusting their price targets slightly.

Portfolio Pulse from Ethan Roberts

August 15, 2023 | 6:20 pm

CSSE

Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:CSSE) reported lower than expected Q2 revenue, leading to a 45.5% dip in share price. Following the announcement, analysts from Needham, Benchmark, Alliance Global Partners, and Craig-Hallum revised their price targets and ratings for the company.

Portfolio Pulse from Lisa Levin

August 15, 2023 | 6:18 pm

KVUE

Benzinga's options scanner detected over 11 options trades for Kenvue (NYSE:KVUE) totaling $1,334,271. Whales have been targeting a price range from $22.5 to $30.0 for Kenvue over the last 3 months. The price of KVUE is up 2.11% at $23.43. Next earnings are expected to be released in 85 days.

Portfolio Pulse from Benzinga Insights

August 15, 2023 | 6:16 pm

AVCNF

Avicanna Inc. reported its Q2 2023 financial results, showing a 183% sequential and 200% YoY increase in revenue to CA$3.3 million. The gross margin was CA$1.5 million or 44.94%, compared to CA$712,915 or 64.61% in the prior year’s period. The net loss was CA$1.76 million, down from CA$4.36 million in the same quarter of last year. The company also reported total assets of CA$22.1 million, up from CA$17.6 million at the end of 2022, and total liabilities of CA$16.8 million, up from CA$14.1 million at the end of 2022.

Portfolio Pulse from Jelena Martinovic

August 15, 2023 | 6:07 pm

URBN

Telsey Advisory Group analyst Dana Telsey has reiterated an Outperform rating on Urban Outfitters, Inc (NASDAQ:URBN), raising the price target to $41 from $35. The analyst expects a sales surge, margin upswing, and healthy inventory position for URBN in 2Q23. The company plans to open a new highly automated omni-fulfillment facility in Kansas City, Kansas, during the back half of FY24 and a new rental fulfillment facility in Missouri by the end of FY24.

Portfolio Pulse from Nabaparna Bhattacharya

August 15, 2023 | 6:07 pm

UNRV

Unrivaled Brands, Inc. (OTCQB:UNRV) reported a 44% YoY decrease in Q2 revenue to $8.8 million, with a net loss of $1.4 million. Despite the decline, the company saw an increase in retail gross margin to 53% from 51% in the prior year. The company's shares traded 0.9091% lower at $0.0163 per share.

Portfolio Pulse from Jelena Martinovic

August 15, 2023 | 6:06 pm

LYFT

UBER

Lyft's stock is trading higher after the company disclosed insider buying activities. CEO Risher John David and Director Stephenson Dave bought shares at an average price of $11.46 and $11.33 per share respectively. Lyft reported Q2 revenue of $1.021 billion, up 3% YoY, and earnings per share of 16 cents, beating the Street consensus estimate. Unlike Uber, Lyft has not diversified beyond transportation and geography.

Portfolio Pulse from Anusuya Lahiri

August 15, 2023 | 6:04 pm

SRG

Seritage Growth Properties reported its Q2 financial results, leading to an increase in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 5:47 pm

RSKD

Riskified reported better-than-expected Q2 sales results, raised its FY23 revenue guidance, and authorized a $75 million share repurchase program. This has led to a rise in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 5:36 pm