Streetbeat News

Stock Prices

WMT

Oppenheimer analyst Rupesh Parikh maintains an Outperform rating on Walmart Inc (NYSE:WMT) with a new price target of $67, adjusted for a 3-for-1 stock split. The split-adjusted shares will begin trading on February 26. Parikh is optimistic about Walmart's potential for grocery share gains, alternative revenue streams, e-commerce investments, and international expansion, projecting ~4% sales and operating income growth. The $67 price target is based on a ~27x P/E multiple of the fiscal 2025 EPS forecast of $2.50. Walmart's shares rose 1.9% to $59.63.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 5:57 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading higher, up 48% in the past month, driven by a rally in Bitcoin following the approval of several spot Bitcoin ETFs and anticipation of the next Bitcoin halving event. Coinbase reported massive Bitcoin outflows last week, with the exchange holding 390,000 Bitcoins. The article also discusses a long-term forecast for COIN, noting its annualized stock performance over the past 5 years is -12.75%, with a potential future price of $93.82 based on trend analysis.

Portfolio Pulse from Erica Kollmann

February 26, 2024 | 5:50 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) has purchased an additional 3,000 Bitcoin, increasing its holdings to 193,000 coins at an average price of $31,544 each. This acquisition, costing $155 million at an average price of $51,813 per Bitcoin, comes amid a surge in crypto investment product inflows, with Bitcoin-based products leading. The broader market saw almost $600 million in inflows, with Bitcoin accounting for over 85% of this. Other cryptocurrencies like Ethereum, Chainlink, and XRP also saw investments, while Solana experienced outflows. MicroStrategy's stock rose 13.98% to $784.

Portfolio Pulse from Murtuza Merchant

February 26, 2024 | 5:48 pm

SNOW

Investors have shown a bearish stance on Snowflake (NYSE:SNOW), with options trading indicating a split sentiment of 28% bullish and 71% bearish. A total of 45 uncommon options trades were spotted, with a focus on a price band between $120.0 and $270.0. The largest trades include both bullish and bearish sentiments across various expiration dates and strike prices. Snowflake, a data lake, warehousing, and sharing company, has over 3,000 customers, including nearly 30% of the Fortune 500. The company's stock is currently trading at $229.33, with an earnings announcement expected in 2 days. Analysts have issued mixed ratings, with a consensus target price of $235.4.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 5:46 pm

CRM

Salesforce's Q4 earnings are anticipated to be positively influenced by generative AI and market optimism. Citi analyst Tyler Radke maintains a Neutral rating but raises the price target from $265 to $325, citing mixed signals but a modestly positive outlook. Morgan Stanley analyst Keith Weiss, holding an Overweight rating, raises his price target to $350, highlighting potential for a revenue re-acceleration and efficiency gains. CRM shares saw a 3.46% increase to $302.99.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 5:45 pm

ITA

The U.S. military has confirmed the use of AI, specifically computer vision, in identifying targets for air strikes in the Middle East, highlighting the technology's role in enhancing precision in combat operations. This development is part of Project Maven, aimed at integrating AI across defense operations, with human oversight ensuring ethical standards. The iShares U.S. Aerospace & Defense ETF (ITA) saw a 0.5% increase to $127, potentially reaching a record-high close.

Portfolio Pulse from Piero Cingari

February 26, 2024 | 5:45 pm

MOD

Modine Manufacturing's shares are trading higher following the announcement of a definitive agreement to acquire Scott Springfield Manufacturing. This strategic acquisition is expected to enhance Modine's product offerings and market position.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:44 pm

ARM

Rosenblatt analyst Hans Mosesmann maintains a Buy rating on ARM Holdings (NASDAQ:ARM) and raises the price target from $140 to $180, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:44 pm

AA

Alcoa Corp's shares are trading lower following the announcement of its agreement to acquire Alumina Limited. This strategic move could potentially expand Alcoa's operations and market share but has initially led to a negative reaction in the stock market.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:43 pm

OKTA

Okta shares are trading higher after JP Morgan maintained a Neutral rating on the stock but increased its price target from $74 to $88.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 5:41 pm