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DUOL

OKTA

SCTL

SNOW

VLCN

WW

Okta, Inc. (NASDAQ:OKTA) shares surged in pre-market trading by around 24% after reporting Q4 earnings and sales that exceeded analyst expectations, alongside strong guidance. Other stocks also showed significant pre-market movements, with notable gainers including Volcon, Inc. (NASDAQ:VLCN), Societal CDMO, Inc. (NASDAQ:SCTL), and Duolingo, Inc. (NASDAQ:DUOL) due to various positive developments. Conversely, Snowflake Inc. (NYSE:SNOW) and WW International, Inc. (NASDAQ:WW) were among the prominent losers, with Snowflake's CEO retiring and WW International reporting disappointing Q4 results.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 1:04 pm

ACLX

Arcellx, Inc. (NASDAQ:ACLX) reported a significant turnaround in its Q4 results with a net income of $20.5 million, compared to a net loss of $39.0 million in the previous year. The company's collaboration revenue soared to $63.1 million, up from zero. Research and development expenses increased slightly. The company highlighted its expanded partnership with Kite, a $200M investment extending its cash runway into 2027, and presented promising data for anito-cel as a treatment for multiple myeloma. Following the report, Baird and Needham raised their price targets for ACLX, though its shares fell slightly by 0.4% to close at $67.32.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 1:03 pm

TRS

TriMas (NASDAQ:TRS) reported Q4 2023 earnings of $0.37 per share, missing the $0.53 estimate, and sales of $209.56M, missing the $246.44M estimate. This represents a 40.32% decrease in earnings and a 3.07% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 1:02 pm

TGNA

Tegna Inc. (NYSE:TGNA) reported Q4 adjusted earnings per share (EPS) of $0.43, missing the consensus estimate of $0.47 by 8.51%. This represents a 56.12% decrease from the previous year's earnings of $0.98 per share. Quarterly sales were $725.85 million, falling short of the $750.82 million estimate by 3.33% and marking a 20.86% decrease from the previous year's $917.13 million.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 1:02 pm

CRNX

Crinetics Pharmaceuticals (NASDAQ:CRNX) has been evaluated by 6 analysts over the past three months, showing a mix of bullish and bearish sentiments. The average 12-month price target is $49.00, indicating an 8.89% increase from the previous target of $45.00. Analysts' actions range from 'Maintain' to 'Raise', with ratings from 'Outperform' to 'Buy'. The company's financials reveal challenges, including a -24.45% revenue decline and a net margin of -16606.36%, indicating potential profitability and cost management issues.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 1:01 pm

AVDX

AvidXchange Holdings (NASDAQ:AVDX) has been the subject of 6 analyst ratings over the last three months, showing a mix of opinions. The average 12-month price target for AVDX has increased to $13.17 from $12.25, indicating a positive sentiment shift among analysts. The company has shown a revenue growth of 19.74% as of September 30, 2023, but struggles with profitability and efficiency, as indicated by its net margin, ROE, and ROA. Despite these challenges, its debt management appears sound.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 1:00 pm

TPR

Tapestry (NYSE:TPR) has received mixed analyst ratings over the last three months, with a shift towards a more cautious outlook in the last 30 days. The average 12-month price target for TPR has increased to $48.44, indicating a 20.35% rise from the previous target. Analysts from firms like Jefferies, Goldman Sachs, and Wells Fargo have updated their ratings and price targets, reflecting changes in market dynamics and company performance. Tapestry, owning brands like Coach, Kate Spade, and Stuart Weitzman, has shown solid financial performance with a notable revenue growth rate, exceptional net margin, and strong ROE and ROA, despite a high debt-to-equity ratio. In August 2023, Tapestry announced the acquisition of Capri, adding brands like Michael Kors, Versace, and Jimmy Choo to its portfolio.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 1:00 pm

BILL

XROLF

Xero Ltd. (OTC:XROLF) has formed a strategic partnership with BILL Holdings, Inc. (NYSE:BILL) to introduce a bill pay solution for small businesses in the U.S. This solution, integrated within the Xero Platform, aims to streamline bill payments and enhance cash flow management by automating transactions and providing access to BILL's network of 5.8 million members. The solution is expected to reduce reliance on manual processes for over 33 million small businesses in the U.S. Further details will be announced later this year. Meanwhile, BILL shares saw a slight decrease of 0.11% to $63.69 in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

February 29, 2024 | 12:59 pm

NTNX

Nutanix shares surged following the announcement of Q2 financial results that exceeded expectations. Additionally, Barclays reaffirmed an Overweight rating on Nutanix and increased its price target from $49 to $68.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:59 pm

CELH

Celsius Holdings shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:58 pm