Streetbeat News

Revenues

SNAP

Analysts have mixed views on Snap Inc. (NYSE:SNAP), with ratings ranging from bullish to bearish. Over the last quarter, there have been shifts in sentiment, with the most recent month showing a more cautious stance. The average 12-month price target is $13.9, up 57.42% from the previous $8.83, with a high estimate of $23.00 and a low of $7.00. Several analysts have raised their price targets, while others maintain or have a neutral stance. Snap's financials show a lower market cap compared to industry averages, a revenue growth of 5.32%, but struggles with profitability and debt management.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 12:01 pm

ANF

Abercrombie & Fitch (NYSE:ANF) has been analyzed by 8 analysts, showing a shift towards a more bullish sentiment with 4 somewhat bullish and 4 indifferent ratings. The average 12-month price target for ANF is now $78.88, up 14.55% from the previous target of $68.86. Analysts from Telsey Advisory Group, Citigroup, UBS, and Morgan Stanley have raised their price targets, reflecting positive expectations for the company's performance. Abercrombie & Fitch has demonstrated strong financial health with a 20.04% revenue growth rate, a net margin of 9.11%, an ROE of 11.77%, an ROA of 3.38%, and a conservative debt-to-equity ratio of 1.27.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 12:01 pm

FITB

Six analysts have recently updated their ratings for Fifth Third Bancorp (NASDAQ:FITB), with a mix of bullish and indifferent stances. The average 12-month price target is now $35.67, up 10.09% from the previous $32.40. Analysts from firms like Keefe, Bruyette & Woods, Barclays, Goldman Sachs, Wells Fargo, RBC Capital, and Morgan Stanley have adjusted their price targets and ratings, reflecting their latest views on the company's performance. Fifth Third Bancorp, a diversified financial-services company, has shown a slight revenue decline of -0.7% over 3 months but boasts a high net margin of 29.44% and an ROE of 4.14%, indicating strong profitability and financial management.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 12:00 pm

EXTR

Extreme Networks Inc (NASDAQ:EXTR) shares dropped over 6% after the company reduced its Q2 revenue guidance. The new forecast is between $294 million to $297 million, down from the previous range of $312 million to $327 million, and below the consensus estimate of $320.51 million. Despite a projected 41% Y/Y increase in subscription and support revenue, and an expectation for recurring revenue to make up 33% of total revenue, the company cited industry headwinds and longer sales cycles for the revision. The Q2 gross margin is expected to be at the higher end of the 59.5%-61.5% range. EXTR also repurchased $25 million in shares and reported a cash balance of $221.4 million. The Q2 earnings results will be announced on January 31, 2024.

Portfolio Pulse from Lekha Gupta

January 09, 2024 | 11:56 am

BNTX

BioNTech presented its strategic priorities for 2024 at the J.P. Morgan Healthcare Conference, aiming to have ten or more registrational trials by the end of 2024 and to be commercial-ready by the end of 2025. The company reported an unaudited €17.5 billion in cash and equivalents for 2023 and anticipates revenues of about €3 billion for 2024.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:46 am

CRRFY

PEP

PepsiCo Inc (NASDAQ:PEP) clarified that it initiated the breakup with Carrefour (OTC:CRRFY), contrary to previous reports. The split is due to a deadlock in contract negotiations over price increases. PepsiCo's decision to stop supplying Carrefour's European stores is a response to Carrefour's announcement to stop selling PepsiCo products in France, Italy, Spain, and Belgium. The dispute is significant as it involves approximately 0.25% of PepsiCo's global revenue and occurs amidst French government pressure on suppliers to lower prices due to high food inflation.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 11:37 am

NARI

Inari Medical announced preliminary unaudited revenue for Q4 2023 of at least $132M, a 22% increase year-over-year, surpassing the consensus estimate of $130.98M. The company also reported preliminary unaudited revenue for FY23 of at least $493.5M, a 29% increase year-over-year, slightly above the consensus estimate of $492.61M.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:35 am

ELTX

Elicio Therapeutics has published data from its Phase 1 AMPLIFY-201 study of ELI-002 2P in solid tumors in Nature Medicine. The results show that ELI-002, as a monotherapy, induced strong and lasting T cell responses and led to tumor biomarker reduction in 84% of patients. This correlated with a median relapse-free survival of 16.3 months. A Phase 2 trial for ELI-002 in pancreatic ductal adenocarcinoma is set to begin in early 2024.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 11:03 am

FLNG

Flex LNG Ltd. (FLNG) announced that the charterer of its Flex Constellation ship has not exercised the extension option. The ship was on a three-year Time Charter since May 17, 2021, with an option to extend up to three years. Flex LNG expects to take redelivery of the ship in Q2 2024. The company has a 95% charter coverage for 2024 and anticipates recontracting the vessel at higher rates than the current $80,000 per day, as market rates are quoted at $90-100,000 per day.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:44 am

MTCH

Dating apps are increasing subscription costs and introducing premium features to boost revenues in a challenging market. Match Group (NASDAQ:MTCH) raised prices and launched new service levels, resulting in a 10% YoY revenue increase to $508 million in Q3 2023 despite a 6% decrease in Tinder's user base. The sector faces a decline in app downloads, user resistance to paid features, and the impact of the cost of living crisis on millennials.

Portfolio Pulse from Ananya Gairola

January 09, 2024 | 10:12 am