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Bumble Inc. plans to lay off over 30% of its workforce, approximately 350 employees, as part of a strategic shift to optimize operations and accelerate its product roadmap. This move is part of a broader trend in the tech sector, with major companies like Alphabet, Amazon, Sony, PayPal, Block, Microsoft, and Salesforce also announcing significant layoffs. Bumble's decision aims to drive stronger operating leverage and align with future strategic priorities, amidst a competitive tech landscape.

Portfolio Pulse from Surbhi Jain

February 28, 2024 | 7:15 pm

TMDX

Analyst ratings for TransMedics Gr (NASDAQ:TMDX) have shown a positive shift with recent upgrades and raised price targets, reflecting an optimistic outlook. Over the last quarter, ratings varied, but recent actions by analysts from Morgan Stanley, JP Morgan, and Oppenheimer indicate a bullish sentiment. The average 12-month price target has increased to $95.00, up 23.38% from $77.00. TransMedics Gr, a medical technology company, has demonstrated strong financial performance with a revenue growth rate of 22.19% and an exceptional net margin of 4.97%.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 7:01 pm

CRI

Carter's (NYSE:CRI) received mixed ratings from 4 analysts, with a shift towards a more neutral stance in the last 30 days. The average 12-month price target is $75.75, indicating a 10.99% increase from the previous target. Analysts from UBS, Evercore ISI Group, Wedbush, and Citigroup adjusted their price targets, reflecting changes in market conditions and company performance. Despite a -3.29% decline in revenue over the past 3 months, Carter's demonstrates strong financial health with an 8.19% net margin and an 8.31% ROE. The company's debt-to-equity ratio is below industry average, suggesting conservative financial management.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 7:01 pm

DNLI

Four analysts have recently updated their ratings on Denali Therapeutics (NASDAQ:DNLI), showing a mix of bullish and somewhat bullish perspectives. The average 12-month price target is now $65.75, a significant decrease from the previous $105.00. Analyst actions include lowering and maintaining ratings, with price targets ranging from $31.00 to $95.00. Denali Therapeutics, a biotech company focused on neurodegeneration diseases, has seen a -64.4% decline in revenue growth and faces financial health challenges, including a net margin of -7841.59% and an ROE of -8.62%.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 7:00 pm

KFY

Analyst ratings for Korn Ferry (NYSE:KFY) show mixed sentiments with 1 bullish and 3 indifferent ratings. The average 12-month price target is $57.5, reflecting a 1.77% increase from the previous target. Korn Ferry's financial performance indicates challenges, with a revenue decline of -3.16% and below-average profitability metrics. Analysts' actions and price target adjustments highlight their response to market conditions and company performance.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 7:00 pm

PENN

Recent analyst ratings for PENN Entertainment (NASDAQ:PENN) show a diverse range of perspectives, with a notable decline in the average 12-month price target to $27.5, down 5.17% from the previous average. Analysts from firms including Morgan Stanley, Stifel, Truist Securities, Macquarie, and Needham have adjusted their ratings and price targets, reflecting changing market conditions and company performance. PENN's financial indicators suggest challenges in revenue growth, profitability, and asset utilization, with a revenue decline of -12.0% as of December 31, 2023, and below-industry benchmarks in net margin and ROE.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 7:00 pm

DBX

Half Moon Capital, LLC has issued an open letter to Dropbox's Board of Directors, urging a course correction due to concerns over the company's decision to 'deemphasize' its Family Plan. Half Moon Capital criticizes this move as it believes it has contributed to a decline in paying users and left Dropbox vulnerable to competition. The investment firm, being a long-term investor and a user of the service, highlights that the Family Plan accounted for over 50% of new paying user additions in 2023. They argue that the management's view of the Work Family Plan as a loophole is a misinterpretation and that its absence has made Dropbox's entry-level plan significantly more expensive than competitors. Half Moon Capital urges the immediate reinstatement of the Work Family Plan to prevent further value destruction and to help Dropbox return to a more favorable growth trajectory.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:03 pm

BYD

Boyd Gaming (NYSE:BYD) has been analyzed by 9 analysts, showing a shift towards a more cautious stance with 1 indifferent rating in the last 30 days compared to more bullish views in previous months. The average 12-month price target for BYD is now $73.33, down from $74.12, with recent analyst actions including both raises and lowers in ratings and price targets. Financially, Boyd Gaming shows strong net margin and ROA but trails in revenue growth and ROE compared to industry peers.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:01 pm

PLUG

Analysts have provided diverse opinions on Plug Power (NASDAQ:PLUG) over the last three months, with a total of 14 evaluations ranging from bullish to bearish. The recent ratings show a shift towards a more cautious stance, with an increase in 'Indifferent' and 'Somewhat Bearish' ratings. The average 12-month price target for PLUG has decreased to $4.74 from $5.53, indicating a 14.29% drop. Financial indicators reveal Plug Power's market capitalization is below industry average, with a notable revenue growth of 5.35% as of September 30, 2023, but struggles in profitability and asset utilization are evident.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:00 pm

TWKS

Thoughtworks Holding (NASDAQ:TWKS) has been evaluated by 4 analysts over the last three months, showing a mix of opinions. Recent ratings include 1 somewhat bullish and 3 indifferent, with a notable shift in sentiment over the past 30 days. The 12-month price targets for TWKS show an average of $4.85, down from the previous $5.17. Analysts from RBC Capital, Piper Sandler, Citigroup, and Baird have adjusted their ratings and price targets, reflecting changes in market dynamics and company performance. Thoughtworks faces challenges in market capitalization, revenue growth, net margin, ROE, ROA, and debt management, indicating potential difficulties in profitability and financial efficiency.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:00 pm