Streetbeat News

Price Targets

FBTC

GBTC

IBIT

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines amid rising outflows from Grayscale's GBTC. BlackRock's IBIT and Fidelity's FBTC spot Bitcoin ETFs attracted over $1 billion in AUM each, post-launch. FTX offloaded its entire GBTC stake valued at nearly $1 billion. The global cryptocurrency market cap decreased by 1.59%. The S&P 500 and Nasdaq Composite hit record highs. Analysts predict Ethereum may outperform Bitcoin, and Bitcoin's price movements are influenced by ETF flows around the US market open.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 3:03 am

CARA

Needham analyst Joseph Stringer has maintained a Buy rating on Cara Therapeutics (NASDAQ:CARA) but has reduced the price target from $6 to $5.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:07 pm

MDB

MongoDB (NASDAQ:MDB) received mixed ratings from 12 analysts in the past three months, with an updated 12-month average price target of $460.0, reflecting a 6.56% increase from the previous target. Analysts' actions include maintaining, raising, and lowering ratings and price targets. MongoDB's financials show strong revenue growth and market capitalization, with a solid net margin and ROE, but a negative ROA. The company's debt-to-equity ratio is below industry average.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 9:01 pm

PCTY

Nine analysts have recently updated their ratings on Paylocity Holding (NASDAQ:PCTY), with a mix of bullish and bearish sentiments. The average 12-month price target is now $199.89, a 22.65% decrease from the previous target of $258.43. Analysts from firms including JMP Securities, Jefferies, TD Cowen, UBS, Mizuho, Needham, Keybanc, and Piper Sandler have adjusted their price targets and ratings, reflecting changes in market dynamics and company performance. Paylocity is a provider of payroll and HCM solutions and has shown a revenue growth rate of 25.39% as of September 30, 2023. However, its ROE and ROA are below industry standards, and analysts have varied opinions on the stock's future performance.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 9:00 pm

FWRD

Forward Air (NASDAQ:FWRD) has been analyzed by four analysts, showing a range of opinions from somewhat bullish to somewhat bearish. The average 12-month price target is $65.00, with a high of $80.00 and a low of $50.00, marking a 20.41% decrease in the average target. Analysts from Stifel, Wolfe Research, and Susquehanna have adjusted their ratings and price targets. Forward Air is an asset-light freight and logistics company facing a revenue decline of -18.94% as of September 30, 2023, but has strong financial health indicators such as a net margin of 2.23%, ROE of 1.38%, ROA of 0.78%, and a low debt-to-equity ratio of 0.45.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 9:00 pm

AAPL

GOOG

GOOGL

TTWO

Take-Two Interactive Software, Inc. (TTWO) hit a 52-week high as Benchmark raised its price target from $163 to $200, citing low execution risks, the upcoming GTA 6 release, and AI integration benefits. The company's D2C growth opportunities are also highlighted, especially with potential changes in app store control by Apple (AAPL) and Alphabet (GOOG, GOOGL). Benchmark maintains a Buy rating with a normalized EPS estimate of $7.88 over FY25|FY26.

Portfolio Pulse from Franca Quarneti

January 22, 2024 | 8:41 pm

IBM

Stifel analyst David Grossman has maintained a Buy rating on IBM and increased the price target from $144 to $183.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 8:29 pm

SNOW

JMP Securities analyst Joe Goodwin has reiterated a 'Market Outperform' rating on Snowflake (NYSE:SNOW) and maintained a price target of $212.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 8:29 pm

SLB

Stifel analyst Stephen Gengaro has maintained a Buy rating on Schlumberger (NYSE:SLB) and increased the price target from $63 to $64.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 8:27 pm

ELF

Stifel analyst Mark Astrachan has maintained a Hold rating on e.l.f. Beauty (NYSE:ELF) and increased the price target from $119 to $141. This adjustment reflects a more positive outlook on the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 8:24 pm