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Revenues

GENI

Genius Sports Ltd (NYSE:GENI) shares rose after reporting Q1 FY24 sales of $119.72 million, surpassing the $116.89 million analyst consensus. The company saw a 34% increase in gross profit to $12.8 million and expanded its gross margin. However, its EPS of $(0.11) missed estimates by $(0.02). Segment revenues varied, with Betting Technology, Content & Services up 14.1%, Media Technology, Content & Services up 63%, and Sports Technology & Services down 3.5%. The company forecasts FY24 revenue of about $500 million, above the $480.82 million estimate, and adjusted EBITDA of $82 million. GENI expects positive cash flow in FY24 and shares increased by 4.80% to $5.68.

Portfolio Pulse from Shivani Kumaresan

May 08, 2024 | 3:18 pm

F

GM

RIVN

TSLA

WKSP

Rivian Automotive Inc (RIVN) and Worksport Ltd (WKSP) are making strides in the EV industry despite economic challenges. Worksport received a $2.8MM grant from New York for job creation and is expanding its clean energy products, including a partnership potential with Tesla (TSLA), Ford (F), and General Motors (GM). Rivian exceeded revenue estimates with $1.2 billion in Q1 and maintained its production forecast, opting for less expensive models over discounts.

Portfolio Pulse from Upwallstreet

May 08, 2024 | 3:15 pm

INSW

International Seaways (INSW) reported a Q1 2024 GAAP EPS of $2.92, surpassing the $2.29 estimate. Shipping revenues reached $274.4M, exceeding the $249.097M estimate.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 3:11 pm

INOD

Innodata Inc. (NASDAQ:INOD) shares surged following positive Q1 results and an optimistic FY24 revenue guidance. The company reported a significant year-over-year growth in earnings and sales, with earnings of 3 cents per share compared to last year's loss of 8 cents per share, and quarterly sales of $26.5 million, up from $18.84 million. Innodata raised its 2024 revenue guidance to at least 40% organic growth, buoyed by a major expansion in one of its large language model development programs with a Big Tech customer, expected to add $23.5 million in annualized revenue.

Portfolio Pulse from Erica Kollmann

May 08, 2024 | 3:05 pm

GO

Analysts have diverse opinions on Grocery Outlet Holding (NASDAQ:GO), with recent evaluations showing a mix of bullish, somewhat bullish, and indifferent stances. The average 12-month price target has been adjusted to $32.5, down from $34.00, indicating a 4.41% decrease. Key analysts from firms like UBS and Telsey Advisory Group have adjusted their ratings and price targets, reflecting changes in market dynamics and company performance. Grocery Outlet's financials show solid revenue growth and exceptional net margin, with a market capitalization below industry benchmarks.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 3:00 pm

JELD

JELD-WEN Holding (NYSE:JELD) has been analyzed by 5 analysts, showing a shift towards a more positive outlook with 1 bullish and 3 indifferent ratings recently. The average 12-month price target has been raised to $19.2, up 11.3% from $17.25, indicating a positive sentiment shift. Analyst actions include both upgrades and downgrades, with price targets ranging from $16.00 to $22.00. The company faces challenges in revenue growth and operational efficiency, with a market capitalization below industry average and a decline in revenue by -6.07% as of March 31, 2024.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 3:00 pm

VCYT

Veracyte (NASDAQ:VCYT) has been the subject of diverse analyst opinions ranging from bullish to bearish over the past quarter, with a total of 4 analysts offering their perspectives. The recent ratings show a shift towards a more cautious outlook, with a decrease in the average 12-month price target to $27.25, down by 6.84%. Analysts from firms including Needham, Goldman Sachs, and Morgan Stanley have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Veracyte, a genomic diagnostics company, has shown notable revenue growth of 22.29% as of December 31, 2023, but faces challenges in market capitalization and growth rate compared to peers. The company's financial health is highlighted by its exceptional net margin, ROE, ROA, and a low debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 3:00 pm

DH

Definitive Healthcare (NASDAQ:DH) has been evaluated by 4 analysts over the last three months, showing a mix of bullish and indifferent sentiments. The average 12-month price target has been adjusted to $9.88, down from $10.38, reflecting a 4.82% decline. Analysts from firms like Stifel, Morgan Stanley, Barclays, and Canaccord Genuity have updated their ratings and price targets, indicating a nuanced view of the company's prospects. Definitive Healthcare, a provider of healthcare commercial intelligence, has shown a revenue growth of 8.8% but lags behind industry peers, with a notable net margin of -15.52% and a debt-to-equity ratio of 0.31.

Portfolio Pulse from Benzinga Insights

May 08, 2024 | 3:00 pm

MSFT

A study by Microsoft Corp. (NASDAQ:MSFT) and LinkedIn shows a significant adoption of AI in the workplace, with 75% of employees using AI tools. Despite the high usage, over half of the respondents fear job replacement, leading to hesitancy in admitting to using AI for critical tasks. The demand for AI skills has surged, with a 323% increase in technical AI talent demand over eight years. However, a gap in AI training by employers is evident, with only 39% of AI-using employees receiving training. The study highlights the ongoing debate about AI's impact on jobs, with contrasting views from industry leaders.

Portfolio Pulse from Rounak Jain

May 08, 2024 | 2:30 pm

RDDT

Reddit Inc's shares surged following impressive Q1 sales performance, beating estimates with a 14.82% pre-market rise on Wednesday. JPMorgan analyst Doug Anmuth maintained a Neutral rating but raised the price target from $47 to $57, citing the need for Reddit to demonstrate sustained growth. The company's revenue grew nearly 50% Y/Y to $243 million, with daily active users increasing to 83 million. Anmuth highlighted Reddit's ad stack enhancements and strategic investments as key growth drivers, while also noting the challenges ahead in sustaining this growth.

Portfolio Pulse from Surbhi Jain

May 08, 2024 | 2:26 pm