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FOXF

Fox Factory reported worse-than-expected Q3 financial results and issued Q4 adjusted EPS, Q4 net sales and FY23 net sales guidance below estimates, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 3:25 pm

IT

Gartner, Inc. (NYSE:IT) reported Q3 FY23 revenue growth of 5.8% YoY to $1.409 billion, beating the consensus of $1.390 billion. Revenues from Research rose 6.2% YoY to $1.22 billion, while Consulting revenue grew 24.1% YoY to $133 million. The company raised its FY23 revenue guidance to at least $5.89 billion, up from the previous estimate of $5.85 billion. Gartner's shares traded higher by 15.22% at $388.98 on the last check Friday.

Portfolio Pulse from Nabaparna Bhattacharya

November 03, 2023 | 3:24 pm

JPM

A significant investor has taken a bearish stance on JPMorgan Chase (NYSE:JPM), with 73% of the detected trades being bearish. The whales have been targeting a price range from $100.0 to $150.0 for JPMorgan Chase over the last 3 months. The price of JPM is up 0.95% at $142.76. Analysts from Oppenheimer, Morgan Stanley, BMO Capital, and Piper Sandler have maintained their positive ratings on JPMorgan Chase.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 3:15 pm

ADBE

A large investor has taken a bearish stance on Adobe (NASDAQ:ADBE), with 66% of big-money traders also showing bearish sentiment. The price target for Adobe over the last 3 months has been between $420.0 to $630.0. Adobe's current price is $562.7, up 0.71%. Several experts have given their opinions on Adobe, with price targets ranging from $600 to $660.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 3:15 pm

PANW

A significant number of investors have taken a bearish stance on Palo Alto Networks (NASDAQ:PANW), with 78% of detected trades showing bearish expectations. Whales have been targeting a price range from $176.67 to $280.0 for the company over the last 3 months. The current price of PANW is down -2.28% at $244.66. Keybanc maintains an Overweight rating on Palo Alto Networks with a price target of $315, while Needham and JMP Securities have downgraded their actions with price targets of $305 and $300 respectively.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 3:15 pm

FTNT

Fortinet Inc (NASDAQ:FTNT) shares dropped after the company reported mixed Q3 results. Analysts from Truist Securities, Guggenheim Securities, Needham, Oppenheimer, and KeyBanc provided their takeaways from the earnings release. The company's Q3 results were below expectations due to continued weakness in its product revenue segment. The company also lowered its full-year guidance, indicating a slowdown in its core secure networking market. Despite the weak Q3 results, some analysts still favor FTNT's balanced approach to growth and profitability.

Portfolio Pulse from Priya Nigam

November 03, 2023 | 3:14 pm

TSLA

Tesla Inc's stock is up 1.35% to $221.45, driven by the Federal Reserve's decision to keep interest rates unchanged. Lower interest rates can result in a lower discount rate in a discounted cash flow (DCF) analysis, making future cash flows worth more in today's dollars. This can increase the stock's intrinsic value and share price. Lower interest rates can also increase consumer spending, potentially driving up sales and revenue for Tesla.

Portfolio Pulse from Henry Khederian

November 03, 2023 | 3:05 pm

EMR

NVT

nVent Electric (NYSE:NVT) is distributing a dividend payout of $0.17 per share, with an annualized dividend yield of 1.29%. The company has maintained a steady dividend per share of $0.70 from 2019 to 2022, and its earnings per share have grown from $1.77 to $2.23 over the same period. nVent's dividend yield is mid-range compared to its industry peers, with Emerson Electric (NYSE:EMR) having the highest annualized dividend yield at 2.28%.

Portfolio Pulse from Benzinga Insights

November 03, 2023 | 3:05 pm

RDFN

Redfin Corporation (NASDAQ:RDFN) reported its Q3 financial results, beating the analyst consensus estimate on GAAP losses but missing on sales. The company's shares are trading higher, with heavy trading volume surpassing the stock's 100-day average. Short-sellers have shown interest in RDFN shares, with 24.28% of available shares being sold short.

Portfolio Pulse from Erica Kollmann

November 03, 2023 | 3:03 pm

RCL

Royal Caribbean Group has removed Israel from its 2024 itineraries, according to an email sent to travel agents. The news could potentially impact the company's revenues and stock price.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 3:02 pm