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NET

RBC Capital analyst Matthew Hedberg has maintained an Outperform rating on Cloudflare, Inc (NYSE:NET) and raised the price target from $54 to $71. Despite near-term macroeconomic fluctuations, Hedberg sees long-term potential in the company. He expects a slight upside to estimates as the company continues to work through GTM changes. The price target boost reflects peer group multiple expansion as he continues to like the company's long-term opportunity.

Portfolio Pulse from Anusuya Lahiri

July 31, 2023 | 7:49 pm

SNMP

Evolve Transition Infrastructure LP's (AMEX:SNMP) common units surged after the NYSE American lifted the trading suspension on the stock. The company's delisting determination was withdrawn and trading resumed on July 31. However, delisting proceedings may be enacted again if the company does not comply with the continued listing standards by June 6 next year. The stock recently initiated a 1-for-30 reverse split.

Portfolio Pulse from Ryan Gustafson

July 31, 2023 | 7:48 pm

CVS

A significant amount of unusual options activity has been observed for CVS Health (NYSE:CVS), indicating a bullish stance by a large investor or institution. The sentiment among these big-money traders is split between 54% bullish and 45% bearish. The targeted price range for CVS Health over the last 3 months has been from $60.0 to $77.5. Barclays, JP Morgan, and Mizuho have maintained their positive ratings on CVS Health, with price targets of $89, $106, and $88 respectively.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 7:47 pm

KVUE

A significant investor has taken a bullish stance on Kenvue (NYSE:KVUE), with 80% of recent trades showing bullish expectations. The majority of the trades are puts, totaling $924,266, with calls totaling $95,407. Whales have been targeting a price range of $22.5 to $30.0 for Kenvue over the last 3 months. The current price of KVUE is down -3.26% at $23.61.

Portfolio Pulse from Benzinga Insights

July 31, 2023 | 7:46 pm

EVLV

Evolve Transition Infrastructure has resolved its listing deficiency with the NYSE American, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:46 pm

NVAX

Novavax shares are experiencing an upward trend, potentially due to anticipation of a summer COVID wave.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:44 pm

AMZN

SPKY

UVXY

Amazon.com, Inc (NASDAQ:AMZN) is trading slightly higher ahead of its Q2 earnings release on Thursday. Investors are keen to see how Amazon Web Services is performing, especially after Microsoft and Google reported slowed growth in their cloud businesses. Traders can trade the potential volatility using the ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY), a 1.5x leveraged fund that tracks the SPIKES Futures Short-Term Index.

Portfolio Pulse from Melanie Schaffer

July 31, 2023 | 7:37 pm

GOEV

Shares of Canoo are trading higher despite no company-specific news being reported.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:35 pm

NKLA

Nikola Corporation's shares are trading higher following the announcement by JB Hunt that it will purchase 13 trucks from the company.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 7:35 pm

GPI

Benchmark analyst Michael P. Ward has reiterated a Buy rating on Group 1 Automotive, Inc. (NYSE:GPI), raising the price target to $340 from $300. Despite price volatility in the used vehicle market and below-trend demand in the new vehicle industry, GPI's margins have exceeded expectations. The company has added $1 billion in annual revenue from acquisitions and share repurchase reduced share count. The analyst expects the variable gross margins to decline over the next two years, but the performance will be above historical levels. The 2023 EPS estimate of GPI has been raised to $44.40 per share from $44.00, and the 2024 estimate has been increased to $44.35 from $44.25.

Portfolio Pulse from Nabaparna Bhattacharya

July 31, 2023 | 7:34 pm