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RDDT

Reddit Inc (NYSE:RDDT) shares surged 14% after its first quarterly earnings post-IPO showed a loss per share better than expected and a 48% revenue increase year-over-year. Despite a net loss of $575.1 million mainly due to IPO-related expenses, the company's ad revenue growth and potential in AI licensing were highlighted as key growth drivers. The discussion on Reddit also touched on the platform's use of user data for AI training and the skepticism about its future profitability.

Portfolio Pulse from Surbhi Jain

May 08, 2024 | 7:05 pm

TOST

Toast, Inc. (NYSE:TOST) shares surged nearly 14% following its Q1 2024 earnings release, showcasing strong financial performance and optimistic growth prospects. The company reported a significant increase in annualized recurring run-rate (ARR) to $1.3 billion and a 30% year-over-year growth in gross payment volume (GPV) to $34.7 billion. Toast's positive outlook for Q2 and full-year 2024, along with new product introductions, have contributed to the stock's momentum. Analysts from Canaccord Genuity, Wells Fargo, Needham, Keefe, Bruyette & Woods, and RBC Capital have raised their price targets, reflecting confidence in Toast's growth trajectory.

Portfolio Pulse from Vaishali Prayag

May 08, 2024 | 6:57 pm

NFLX

Deep-pocketed investors have shown a bearish approach towards Netflix (NASDAQ:NFLX), with a significant move in options trading detected by Benzinga. The trading activity includes 49 extraordinary options activities, with a sentiment split of 36% bullish and 42% bearish. Major market movers are focusing on a price band between $230.0 and $1110.0 for Netflix. Recent options trades include both puts and calls with neutral sentiment, and notable trade prices and strike prices were highlighted. Netflix's business model, global subscriber base, and recent move to ad-supported subscription plans were discussed. The stock's current trading volume and price, along with expert opinions and price targets from market analysts, were also provided.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 6:46 pm

VRTX

Financial analysis reveals a bullish sentiment in the options market for Vertex Pharmaceuticals (NASDAQ: VRTX), with a focus on a price range between $380.0 and $450.0. Significant trading activity includes both calls and puts, with a notable volume and open interest in options within this price band. Vertex Pharmaceuticals, a leader in cystic fibrosis treatments and expanding into gene-editing therapies and nonopioid pain treatments, shows a stock price increase of 3.27% to $423.65. Analysts have varied ratings, with a consensus target price of $447.4, indicating potential upward movement.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 6:45 pm

CRCT

EMR

INOD

INSP

REBN

TMCI

U.S. stocks showed mixed performance with the Dow Jones gaining over 150 points, while NASDAQ fell slightly. Emerson Electric Co. reported better-than-expected Q2 results, revising its FY24 outlook upwards. Other notable movements included significant gains for Reborn Coffee, Inc., Cricut, Inc., and Innodata Inc., and sharp declines for Treace Medical Concepts, Inc., DoubleVerify Holdings, Inc., and Inspire Medical Systems, Inc. Commodities and global market trends were also highlighted.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 6:41 pm

AMZN

DDOG

GOOG

GOOGL

MSFT

Analysts from Morgan Stanley, Truist Securities, and DA Davidson provided optimistic outlooks for Datadog, Inc. (DDOG), citing strong Q1 2024 performance, product innovation, and AI-driven growth potential. Price targets range from $115 to $155. The company's alignment with cloud hyperscalers like Microsoft Azure, Alphabet's GCP, and Amazon AWS is noted as a key growth driver, with AI and new product adoption expected to sustain and accelerate growth.

Portfolio Pulse from Anusuya Lahiri

May 08, 2024 | 6:26 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has ceased development on Redfall, including DLC and an offline mode, as part of a broader restructuring within Xbox and Bethesda. The decision to halt the development roadmap and cancel the Hero Pass content has raised concerns about the game's future playability and disappointed players, especially given the game's already troubled history and criticism for its lackluster launch.

Portfolio Pulse from Franca Quarneti

May 08, 2024 | 6:24 pm

DASH

Options trading trends for DoorDash (NASDAQ:DASH) show a bullish stance by whales, with a mix of bullish and bearish trades observed. The trading range for DoorDash's stock is expected between $105.0 to $150.0. The company, known for its online food ordering and delivery platform, is currently trading at $111.66, a decrease of -3.37%. Analysts have given DoorDash ratings with an average target price of $133.4, indicating a positive outlook on the stock.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 6:16 pm

DOGEUSD

PEPEUSD

WIFUSD

Crypto trader Intuitio has classified Dogecoin (DOGE) as the 'BTC of memes,' likening it to Bitcoin in terms of safety and foundational status among meme coins. He identifies Pepe (PEPE) and Dogwifhat (WIF) as the Ethereum equivalents in the meme coin space, suggesting they offer the best risk/reward ratio. Intuitio advises a portfolio allocation of 70% in Pepe/Wif and 30% in other meme categories for potential gains, cautioning about the high volatility and early stage of the meme coin market.

Portfolio Pulse from Khyathi Dalal

May 08, 2024 | 6:07 pm

PCRX

Analyst ratings for Pacira BioSciences (NASDAQ:PCRX) show a mix of bullish and bearish perspectives with a recent average price target of $46.67, down from $49.00. The company's financials indicate positive revenue growth, strong profitability, and efficient asset management but highlight challenges in debt management. Pacira BioSciences specializes in non-opioid pain management solutions, with three commercialized treatments.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 6:00 pm