Streetbeat News

Revenues

NVST

Analysts have provided diverse evaluations of Envista Holdings (NYSE:NVST) over the last three months, with a consensus indicating a neutral to somewhat bearish outlook. The average 12-month price target for NVST has been adjusted to $20.5, a significant decrease from the previous $28.33. This adjustment reflects a downward trend in analyst expectations, influenced by Envista Holdings' recent financial performance, including a revenue decline of -2.3% and a net margin of -33.67%. Despite a strong Return on Equity (ROE) of -5.14%, challenges in revenue growth, net margin, and Return on Assets (ROA) have impacted analysts' views.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 4:00 pm

ALKT

Alkami Technology (NASDAQ:ALKT) has been evaluated by 6 financial analysts over the past three months, showing a mix of bullish to indifferent sentiments. The average 12-month price target for ALKT is now $30.0, marking an 11.11% increase from the previous target of $27.00. Analysts from firms including Needham, JMP Securities, JP Morgan, and Barclays have adjusted their ratings and price targets, reflecting a positive outlook on the company's performance and market position. Alkami Technology, a provider of cloud-based digital banking solutions, has shown a revenue growth rate of 28.5% as of December 31, 2023, but struggles with profitability and efficiency, as indicated by its net margin and ROE/ROA figures.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 4:00 pm

CMI

Cummins Inc (NYSE:CMI) reported a slight decline in Q1 2024 sales by 0.6% YoY to $8.401 billion, missing consensus estimates. International demand weakened, particularly in China and Europe, while North American sales remained flat. Adjusted EPS was $5.10, below the expected $5.13. The company saw a net gain from the Atmus separation but faced restructuring expenses. Despite a decrease in operating income and cash flow, Cummins raised its 2024 revenue and profitability expectations, anticipating a demand slowdown in H2 2024. Shares fell by 1.50% to $279.62.

Portfolio Pulse from Akanksha Bakshi

May 02, 2024 | 3:59 pm

UNVGY

Universal Music Group N.V. (UMG) reported a Q1 2024 revenue of €2.594 billion, marking a 5.8% increase YoY. The growth, attributed to all segments, was stronger in constant currency terms at 7.9%. EBITDA soared by 87.7% YoY to €490 million, with the EBITDA margin reaching 18.9% due to lower non-cash share-based compensation expenses. Adjusted EBITDA was €591 million, up 13.2% YoY, with its margin expanding to 22.8%, reflecting revenue growth, operating leverage, and savings from the equity plan rollout.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:47 pm

CI

Cigna Corporation (NYSE:CI) reported a 23% year-over-year increase in Q1 sales to $57.26 billion, surpassing estimates due to Evernorth's growth. Adjusted income from operations rose 16% to $1.88 billion. Healthcare sales were up 4%, and Evernorth Health Services sales jumped 28%. The medical cost ratio improved, and total pharmacy customers grew 24%. Adjusted EPS of $6.47 beat estimates, and Cigna raised its 2024 adjusted EPS guidance. However, CI shares dropped 1.9% following the announcement.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 3:43 pm

ARAY

Accuray's stock price declined following the announcement of disappointing Q3 financial results and a revenue forecast for FY24 that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:40 pm

EIS

ISRA

TUR

Turkey has announced a complete halt to all trade with Israel, marking a significant shift in their economic relations. This decision could have wide-ranging implications for both countries' economies and potentially affect global markets.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:13 pm

GMAB

Genmab reported a Q1 2024 revenue of $604.25 million.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:05 pm

FORM

In the last three months, 4 analysts have shared diverse evaluations of FormFactor (NASDAQ:FORM), with recent ratings showing a positive shift. The average 12-month price target for FORM has risen by 16.46% to $47.75. Analysts from Needham and Stifel, among others, have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. FormFactor, specializing in semiconductor probe card products, has shown solid financial performance with a notable revenue growth rate of 1.31% and exceptional net margin of 45.1%.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 3:01 pm

SYY

Sysco (NYSE:SYY) was analyzed by four analysts, showing a mix of bullish to indifferent ratings. The average 12-month price target is now $85.00, down from $87.50. Analyst actions included both downgrades and an upgrade, with price targets adjusted accordingly. Sysco's financial performance shows strong revenue growth, net margin, ROE, and ROA, but a high debt-to-equity ratio. The company is a major player in the U.S. foodservice distribution market.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 3:01 pm