Streetbeat News

Revenues

REKR

Rekor Systems, Inc. (NASDAQ:REKR) expects to report gross revenue exceeding $8.0 million for Q2 2023, representing a YoY growth of over 110% and a QoQ growth of over 30%. The company will announce full financial results on August 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 11:34 am

LEV

Lion Electric Company has entered into subscription agreements for aggregate gross proceeds of approximately $142 million.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2023 | 11:33 am

HMRZF

HNNMY

Hennes & Mauritz AB (H&M) plans to expand its presence in Latin America by launching online and offline stores in Brazil by 2025. The company will initially enter major cities in Southeast Brazil in partnership with Dorben Group. H&M has been present in Latin America since 2012 and currently operates in several countries including Mexico, Chile, Costa Rica, Peru, Colombia, Uruguay, Ecuador, Guatemala, and Panama. The company reported a 6% YoY increase in Q2 FY23 sales to SEK57.6 billion.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 10:24 am

NFLX

Wedbush analyst Michael Pachter reiterated Netflix Inc (NASDAQ: NFLX) with an Outperform and a $475 price target. Pachter believes that Netflix's ad-supported tier and password-sharing crackdown will boost profitability and cash generation. He also expects the company's free cash flow (FCF) to grow steadily, particularly if average revenue per user (ARPU) rises due to the password-sharing crackdown and higher cost per thousand impressions (CPMs) from the ad-tier. Despite a recent dip in NFLX shares, Pachter maintains his Q2 estimates for revenue of $8.242 billion.

Portfolio Pulse from Anusuya Lahiri

July 14, 2023 | 7:09 pm

ACAD

Acadia Pharmaceuticals has expanded its licensing agreement for trofinetide with Neuren Pharmaceuticals, acquiring ex-North American rights to the drug. The company expects Q2 sales of $21-$23 million for Daybue and $140-$144 million for Nuplazid. JMP Securities and HC Wainwright have increased their price targets for Acadia, while Needham maintains a Hold rating. The successful launch of Daybue and the acquisition of global rights to trofinetide are seen as strategic moves.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 6:47 pm

SOFI

Truist Securities analyst Andrew Jeffrey reiterated a Buy rating for SoFi Technologies, Inc with a $11 price target. Despite macro risks, Jeffrey believes SoFi's co-specific drivers significantly outweigh external risks. He sees SoFi's high APY-savings accounts and leading tech as competitive advantages. He also raised his 2Q23 revenue/EBITDA estimates for SoFi to $273 million/$65 million from $268 million/$44 million. However, he lowered his 2H23 EBITDA estimate to $150 million from $159 million.

Portfolio Pulse from Anusuya Lahiri

July 14, 2023 | 6:37 pm

SHOP

Credit Suisse analyst Timothy Chiodo has maintained a Neutral rating on Shopify Inc (NYSE:SHOP) and raised the price target from $53 to $55. The report provides an updated analysis of Shopify's subscription pricing increases and potential impact in Q2 and over the next year. It also includes thoughts on Shopify Capital and a detailed analysis of Shopify's payments monetization. The price target reflects ~17x EV/FY 2024E gross profit. The 2023/2024E gross profit estimates are up ~1% to ~$3.39 billion/$4.11 billion. SHOP shares traded lower by 1.14% at $69.47 on the last check Friday.

Portfolio Pulse from Anusuya Lahiri

July 14, 2023 | 5:09 pm

INGN

Needham analyst Mike Matson downgraded Inogen, Inc (NASDAQ:INGN) to Hold from Buy, with a price target of $26. Inogen is acquiring Physio-Assist SAS for $32 million, a move that is expected to diversify its respiratory portfolio and expand its international market opportunities. However, the deal is not expected to impact Inogen's revenue growth until 2025. Matson notes that Inogen's margins have deteriorated due to inflationary headwinds, sales channels, and other investments. The analyst also lowered revenue estimates for FY23 and FY24.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 5:04 pm

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) had a successful Prime Day event, selling approximately $12.1 billion in gross merchandise value (GMV), according to BofA Securities analyst Justin Post. This represents the company's 'largest single sales day ever', with Prime members purchasing over 375 million items, a 13% increase from last year. The event likely boosted new Prime subscription sign-ups and customer satisfaction, and Amazon likely gained market share.

Portfolio Pulse from Priya Nigam

July 14, 2023 | 2:47 pm

CXAI

CXApp Inc. has added $5M to its balance sheet through warrant exercises. The company also added two Fortune 200 financial services customers last month, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 1:02 pm