Streetbeat News

Equity Actions

MRVL

Marvell Tech (NASDAQ:MRVL) has been analyzed by 13 analysts, showing a range of opinions. The average 12-month price target is $72.69, up from the previous $70.62. Analysts from firms like Citigroup, Barclays, and UBS have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Marvell Tech, a fabless chip designer, faces challenges with a -7.72% revenue decline, a net margin of -11.58%, and an ROE of -1.07%. Despite this, its debt-to-equity ratio of 0.29 suggests a balanced approach to debt management.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 9:00 pm

NOW

ServiceNow Inc. (NYSE:NOW) has seen its stock increase by 4.41% over the past month and 74.32% over the past year. Currently trading at $727.18, its P/E ratio of 93.86 is higher than the Software industry average of 56.62, which may suggest optimism about future performance or potential overvaluation. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 8:30 pm

NDAQ

Analysts have provided mixed reviews on Nasdaq (NASDAQ:NDAQ) over the last three months, with 6 analysts offering ratings ranging from bullish to indifferent. The average 12-month price target is $64.33, with a recent increase from $57.33. Analysts from Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, Oppenheimer, and Rosenblatt have updated their ratings and price targets. Nasdaq faces challenges with a revenue decline of -6.81%, a below-average net margin, and a high debt-to-equity ratio, but it has a strong ROE.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 8:00 pm

ADBE

Adobe Inc. (NYSE:ADBE) has experienced a 36.54% increase in short interest since its last report, with 6.45 million shares sold short, representing 1.42% of its float. The average time to cover these short positions is 2.49 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline. Adobe's short interest is below its peer group average of 3.35%.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 7:45 pm

CMI

Cummins Inc. (NYSE:CMI) has experienced a 4.58% increase in short interest since its last report, with 1.95 million shares sold short, representing 1.37% of its float. It would take about 3.29 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it's not a definitive predictor of a stock's direction. Cummins has less short interest compared to its peer group average of 4.82%.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 7:30 pm

SOAR

Volato Group has filed a prospectus with the SEC, indicating that selling stockholders may offer up to 8.1 million shares of common stock from time to time.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 6:59 pm

C

Citigroup CEO Jane Fraser has announced that the bank will reveal further details of its restructuring plans in the week of January 22, according to a memo. This announcement indicates ongoing efforts to streamline operations and improve the bank's efficiency and profitability.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 6:44 pm

AFL

Aflac's (NYSE:AFL) short interest has decreased by 11.52% since the last report, with 9.79 million shares sold short, representing 1.69% of available shares. The average time to cover these short positions is 6.27 days. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on the stock. Aflac has less short interest compared to its peer group average of 1.95%.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 6:15 pm

MRO

Marathon Oil (NYSE:MRO) has received mixed analyst ratings over the past three months, with 8 analysts offering a range of bullish to indifferent perspectives. The average 12-month price target has been reduced by 5.74% to $31.69, with a high estimate of $39.00 and a low of $25.00. Several analysts have lowered their price targets, while a few have raised them. Marathon Oil focuses on unconventional resources in the U.S., with net proved reserves of 1.3 billion barrels of oil equivalent and a production average of 343 thousand barrels per day in 2022. The company's revenue declined by 11.8% as of September 30, 2023, but it maintains a strong net margin of 25.58% and an ROA of 2.27%, with a lower-than-average debt-to-equity ratio of 0.51.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 6:00 pm

SYT

SYLA Technologies Co., Ltd. (NASDAQ:SYT), a Japanese real estate crowdfunding platform operator, has completed the acquisition of a 20.39% stake in RIBERESUTE CORPORATION, becoming its largest shareholder. The acquisition involved 2,158,800 shares and was finalized on January 12, 2024, following an agreement made on November 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:58 pm