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Revenues

CAAS

China Automotive Systems, Inc (NASDAQ:CAAS) reported a significant increase in its fourth-quarter FY23 sales, with a 23.6% growth year-on-year to $159.20 million. The company's gross profit margin expanded by 240 basis points to 21.8%, and its gross profit rose by 38.8% to $34.7 million. Operating income for the quarter was $13.6 million, compared to an operating loss of $(2.6) million in the same quarter of the previous year. Net income attributable to common shareholders increased by 153.5% to $10.9 million. The company expects FY24 revenue of $605 million, above the estimate of $593.11 million. CAAS shares surged 7.12% to $3.61 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 1:28 pm

MTCH

Z

ZG

JPMorgan analyst Cory A. Carpenter discussed insights from a meeting with Match Group Inc's CEO, Bernard Kim, focusing on Tinder's strategy of incremental innovations and its impact on user engagement and conversion rates. The strategy includes tailored subscription offerings and localized features, aiming to enhance the user experience without major changes to its core swiping mechanism. Additionally, recent board additions at Match Group, including executives from Instacart and Zillow Group, signal a commitment to product and marketing innovation. Despite a downward revision in revenue estimates for the online dating industry, a positive long-term growth outlook is maintained.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 1:22 pm

PUBM

PubMatic announced its plan to reinvest its 2023 profits into expanding its team. This strategic move aims to strengthen the company's position and capabilities in the market.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:11 pm

NVO

Medicare health plans have begun to cover the weight-loss drug Wegovy, marking a significant development in the healthcare and pharmaceutical sectors. This decision could potentially increase the accessibility of Wegovy to a broader segment of the population, impacting its sales and usage.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:10 pm

CVSI

CV Sciences reported a slight decrease in Q4 sales to $3.80 million, down 1.78% from $3.87 million in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:07 pm

LVO

TSLA

LiveOne has reported a significant growth in its membership, reaching over 3.7 million members, marking a 26% year-over-year increase. Specifically, Tesla members have surpassed 1.7 million, a 33% increase from the previous year. In March alone, LiveOne added more than 60,000 paid members, with an average revenue per user (ARPU) of over $3.10. The company anticipates its membership growth to exceed 1 million in 2024 and is developing over 55 new B2B partnerships, following a major deal that contributes over $2 million in monthly recurring revenues. Brad Konkol of Slacker Radio highlighted the decade-long partnership with Tesla and the focus on expanding B2B relationships to diversify risk and boost revenue streams.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:01 pm

TMDX

TransMedics Gr (NASDAQ:TMDX) has received mixed analyst ratings over the past three months, with a shift towards more positive evaluations in the last 30 days. Analysts from Piper Sandler, Morgan Stanley, JP Morgan, and Oppenheimer have updated their price targets, reflecting an optimistic outlook with an average 12-month price target of $100.0, marking an 18.11% increase from the previous target. TransMedics, a medical technology company, has shown significant financial health indicators, including a notable revenue growth rate of 158.72% as of December 31, 2023, and strong profitability metrics.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:01 pm

EHC

Encompass Health (NYSE:EHC) has received mixed analyst ratings over the past three months, with 6 analysts offering evaluations. The sentiment has shifted slightly positive, with the average 12-month price target rising to $88.67 from $84.67. Analysts from Barclays, Truist Securities, RBC Capital, Mizuho, and Stephens & Co. have provided updates, with actions including raising and maintaining ratings, and adjusting price targets. Encompass Health's financial performance shows strong market position, revenue growth, profitability, and effective asset utilization, despite facing challenges in achieving growth rates higher than the average in the Health Care sector.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:00 pm

AZTA

Analysts have diverse opinions on Azenta (NASDAQ:AZTA), with recent evaluations showing a mix of bullish and indifferent stances. Over the last three months, 7 analysts provided ratings, with the majority being bullish. The average 12-month price target for AZTA has been raised to $75.00 from $70.00, indicating a positive outlook. Azenta's financial performance shows challenges in revenue growth and return metrics, but efficient cost management and prudent debt strategy are noted positives.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:00 pm

M

Macy's (NYSE:M) has received mixed analyst ratings over the last three months, with a recent shift towards a more neutral stance. The latest evaluations show 1 indifferent rating in the last 30 days, compared to more bullish and somewhat bullish ratings a month ago. Analysts have updated their 12-month price targets for Macy's, setting an average target of $20.25, which is a 6.58% increase from the previous target of $19.00. Key analysts from firms like JP Morgan, TD Cowen, and Goldman Sachs have adjusted their ratings and price targets, reflecting various market conditions and company performance insights. Macy's operates around 550 stores and has seen a -2.42% decline in revenue growth as of January 31, 2024, with a net margin of -0.84% and ROE of -1.69%.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:00 pm