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CXM

JMP Securities analyst Patrick Walravens has maintained a Market Outperform rating on Sprinklr (NYSE:CXM) but has reduced the price target from $24 to $22.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:46 pm

CHWY

JMP Securities analyst Nicholas Jones has maintained a Market Outperform rating on Chewy (NYSE:CHWY) but has reduced the price target from $43 to $28.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:42 pm

GOOG

GOOGL

META

MSFT

Alphabet Inc.'s Google has announced Gemini, an AI model to compete with OpenAI's ChatGPT. Meanwhile, TikTok's parent company ByteDance is set to release a language model claimed to be more powerful than Gemini. Google's Gemini has outperformed GPT-4 and other models in benchmarks, but its Ultra version won't be available until 2024. ByteDance's upcoming model could intensify the AI competition.

Portfolio Pulse from Rounak Jain

December 07, 2023 | 12:42 pm

AVAV

BRZE

CERE

DDOG

DHR

FEAM

MNDY

SMTC

SNDR

TOL

Wall Street analysts have updated their price targets and ratings for several US-listed companies. Semtech Corporation's target was cut by Needham, while Barclays raised Toll Brothers' target. Piper Sandler increased Cerevel Therapeutics' target but downgraded the stock. B. Riley Securities slashed 5E Advanced Materials' target and downgraded the stock. Goldman Sachs reduced Danaher Corporation's target and downgraded the stock. Wells Fargo lifted Schneider National's target and upgraded the stock. Stifel raised Datadog's target and upgraded the stock. Keybanc increased monday.com's target. Raymond James raised AeroVironment's target, and Piper Sandler increased Braze's target.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 12:41 pm

CHWY

Raymond James analyst Rick Patel has maintained an Outperform rating on Chewy (NYSE:CHWY) but has reduced the price target from $24 to $20.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:38 pm

BRZE

JMP Securities analyst Patrick Walravens has maintained a Market Outperform rating on Braze (NASDAQ:BRZE) and increased the price target from $56 to $68.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:38 pm

CRM

DOV

JBHT

On a day when the Nasdaq 100 saw a decline, insiders at four major companies, including Visa, Salesforce, Dover, and J.B. Hunt Transport Services, sold significant amounts of shares. These sales could indicate various sentiments from the insiders about the company's valuation or future prospects. Notably, Dover missed Q3 revenue estimates, Salesforce provided strong FY24 guidance, Visa reported strong Q4 results, and J.B. Hunt saw a decrease in quarterly earnings year-over-year.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 12:32 pm

SNY

Sanofi SA (NASDAQ:SNY) has announced ambitious plans to bolster its drug pipeline, highlighting 12 potential blockbuster drugs with peak sales ranging from €2 billion to over €5 billion each. CEO Paul Hudson is addressing investor concerns regarding the expanded R&D budget. Sanofi expects its new and existing pharmaceutical assets to generate over €10 billion in annual sales by 2030, with Dupixent expected to see low double-digit growth up to 2030. The company anticipates a 50% increase in Phase 3 studies between 2023-2025, 25 mid- to late-stage read-outs, and up to 19 regulatory submissions in the next two years. The Phase 3 IMROZ trial of Sarclisa showed a significant improvement in progression-free survival for patients with multiple myeloma.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 12:30 pm

CHWY

Chewy, Inc. (NYSE:CHWY) reported Q3 adjusted earnings of $0.15 per share, beating estimates but missed revenue expectations with $2.74 billion against the forecasted $2.76 billion. The company also reduced its FY23 net sales guidance from $11.15-$11.35 billion to $11.08-$11.10 billion. Following the results, Barclays and Needham revised their price targets for Chewy to $19 and $20, respectively, with Barclays maintaining an Equal-Weight rating and Needham maintaining a Buy rating. Chewy's stock rose 5.1% to close at $19.35.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 12:29 pm

DOYU

DouYu International Holdings Limited (NASDAQ: DOYU) reported a Q3 FY23 revenue decline of 24.4% year-on-year to $186.3 million, slightly above consensus estimates. Adjusted earnings per ADS matched consensus at $0.03. Livestreaming revenues fell by 32.5%, while advertising and other revenues surged by 123.2%. The company's gross margin remained stable at 14.2%, with cash reserves of $978.5 million. However, mobile MAUs and paying user count both decreased. Despite the revenue dip, DOYU's stock rose by 1.55% to $0.72.

Portfolio Pulse from Anusuya Lahiri

December 07, 2023 | 12:28 pm