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UPWK

Analysts have updated their ratings and price targets for Upwork (NASDAQ:UPWK), with 5 analysts offering views ranging from bullish to indifferent. The average 12-month price target is now $17.0, up from the previous $13.00, indicating a 30.77% increase. Analysts from JMP Securities, Jefferies, Needham, Roth MKM, and RBC Capital have maintained or raised their ratings and price targets. Upwork's financial performance shows strong revenue growth and net margin, but a lower ROE compared to industry averages. The company's low debt-to-equity ratio suggests a healthy balance between debt and equity.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 6:00 pm

BAC

Analysts have varying opinions on Bank of America (NYSE:BAC), with recent ratings ranging from bullish to bearish. The average 12-month price target is $40.48, up 2.79% from the previous $39.38. Notable analysts from firms like Oppenheimer, Morgan Stanley, and Goldman Sachs have adjusted their price targets and ratings, reflecting changes in market dynamics and company performance. Bank of America, a major US financial institution, has seen a revenue decline of -12.75% and faces challenges with net margin, ROE, and ROA below industry standards, although it has a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 6:00 pm

BOTZ

NVDA

USO

The IMF's latest report suggests a positive economic outlook for 2024, with a forecasted global growth of 3.1%. The report highlights the role of AI, particularly the impact of Nvidia Corp, a leader in AI chip production. The Global X Robotics & Artificial Intelligence ETF (BOTZ) offers exposure to Nvidia and other AI companies. Additionally, geopolitical tensions and inflation are noted as potential risks, with the United States Oil Fund ETF (USO) seeing an 8% gain since the year's start. The U.S. economy is expected to grow by 2.1% in 2024, with fiscal tightening and debt management posing challenges.

Portfolio Pulse from Neil Dennis

January 30, 2024 | 5:51 pm

AAPL

AMZN

GOOGL

META

MSFT

QQQ

TSLA

Gene Munster of Deepwater Asset Management highlighted the importance of the upcoming earnings reports from five of the 'Magnificent Seven' tech companies: Apple, Microsoft, Alphabet, Meta Platforms, and Amazon. He pointed out specific 'pressure points' for each company, such as product contributions, cloud revenue growth, and AI developments. The performance of these companies is crucial as they are expected to be the top contributors to S&P 500 profit growth. The Invesco QQQ Trust, which tracks the Nasdaq 100, was down slightly ahead of these reports.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 5:43 pm

GLW

Corning Inc (NYSE:GLW) reported a 10% Y/Y decline in Q4 FY23 core sales to $3.27 billion, slightly above consensus. Core EPS was $0.39, matching consensus. Sales varied across segments, with Display Technologies and Environmental Technologies growing Y/Y, while Optical Communications, Specialty Materials, and Life Sciences declined. Core gross margin increased to 37%, and free cash flow improved. CEO Wendell P. Weeks expects $3B revenue growth in the medium term. Q1 outlook is below consensus with expected core sales of $3.10 billion and EPS of $0.32 - $0.38. GLW shares rose 6.50% to $33.18.

Portfolio Pulse from Anusuya Lahiri

January 30, 2024 | 5:43 pm

GORO

Gold Resource Corporation released preliminary sales figures for FY23, including 31,085 ounces of gold equivalent, 10,954 tons of zinc, 1,231 tons of copper, and 4,501 tons of lead.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:21 pm

GORO

Gold Resource Corporation reported preliminary sales figures for Q4, including 3,757 ounces of gold, 258,252 ounces of silver, and sales of zinc (2,182 tons), copper (327 tons), and lead (820 tons).

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:20 pm

AGFY

CALX

JBLU

PXLW

SANM

SIDU

SXTP

JetBlue Airways Corp (NASDAQ:JBLU) shares fell over 5% after reporting Q4 FY23 results with a decline in operating revenue by 3.7% Y/Y to $2.33 billion, beating estimates but with an adjusted loss per share of 19 cents. The company anticipates a revenue decline in Q1 FY24. Other stocks mentioned include Pixelworks, Inc. (NASDAQ:PXLW), Agrify Corporation (NASDAQ:AGFY), Sanmina Corporation (NASDAQ:SANM), Sidus Space, Inc. (NASDAQ:SIDU), 60 Degrees Pharmaceuticals, Inc. (NASDAQ:SXTP), and Calix, Inc. (NYSE:CALX), which experienced significant price movements after various announcements. Crude oil gained 1%, and U.S. stocks traded mostly lower with the Nasdaq Composite down over 50 points.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 5:08 pm

Over the past three months, 8 analysts have provided diverse opinions on Zillow Group (NASDAQ:ZG), with ratings ranging from bullish to indifferent. The average 12-month price target is $55.75, with a high of $66.00 and a low of $36.00, marking a 5.11% decrease in the average target. Analysts from firms like RBC Capital, Benchmark, JMP Securities, Deutsche Bank, Susquehanna, and Piper Sandler have adjusted their ratings and price targets, reflecting their latest views on the company's performance. Zillow Group operates in real estate and has shown a revenue growth rate of 2.69% as of September 30, 2023, but struggles with a net margin of -5.65%. The company's ROE and ROA outperform industry averages, and it maintains a healthy debt-to-equity ratio of 0.42.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 5:01 pm

Guardant Health (NASDAQ:GH) received mixed analyst ratings in the latest quarter, with 2 bullish and 2 somewhat bullish ratings. The average 12-month price target is now $37.75, down from $47.00. Analysts from Goldman Sachs, Raymond James, and Morgan Stanley adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Guardant Health is known for its liquid-based cancer tests and has shown a revenue growth rate of 21.83% as of September 30, 2023. However, the company faces challenges with a net margin of -60.2%, ROE of -33.05%, ROA of -4.73%, and a high debt-to-equity ratio of 5.95.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 5:01 pm