Tag Archives: analyst

GameStop’s (GME) reported plan to launch an NFT marketplace is “dead on arrival”, says one analyst.  “NFT’s are a real thing…the problem is GameStop,” Wedbush’s Michael Pachter told Yahoo Finance Live.  A Wall Street Journal report says the company hired more than 20 people to run the unit which will launch an NFT marketplace, a plan which the video game retailer has hinted at in the past. The report also states GameStop is working on creating partnerships with two crypto companies. “NFT’s… Source link

With shares of newly minted IPO Allbirds (BIRD) down a whopping 50% from their highs on Nov. 3, Morgan Stanley says it’s time to go shopping for the stock.  “Valuation appears compelling, at ~4 times consensus 2023 estimated EV/Sales compared to its ~10 times post-IPO high and peers with comparable revenue growth at 5 times plus. Tempered valuation makes for an attractive entry point, particularly as an opportunity for BIRD [exists] to accelerate revenue growth to 28% in 2022 estimated from… Source link

Adobe (ADBE) will be a major winner from the build out of the metaverse, says one widely followed Wall Street analyst. “Adobe is the best software play for the metaverse — its creative tools will enable the next generation of the internet,” said Jefferies tech analyst Brent Thill in a new research note Thursday.  Thill reiterated a Buy rating and $680 price target on Adobe. Shares of Adobe were relatively unchanged in pre-market trading Thursday. It closed down 7% at $514.43 on… Source link

Roku (ROKU) shares dropped more than 11.7% on Wednesday amid an Underweight initiation by Atlantic Equities over concerns of slowing growth and weak penetration in markets abroad.   “We estimate that 80% of Roku’s active accounts are located in the U.S., implying 34% penetration in that market and just 6% in the other markets in which it operates,” analyst Hamilton Faber wrote in a note to investors. The streaming device company’s international markets include Canada, Mexico, Brazil, the… Source link

The rally in Coca-Cola’s stock (KO) is just beginning, said one closely watched beverage analyst on Wall Street.  “We see the company exiting FY21 transition year stronger for four reasons: 1) strong emerging markets despite still low vaccination rate, 2) on-premise recovering faster than originally forecasted, 3) restructuring and portfolio rationalization led to a more focused and agile organization, and 4) gross margin benefiting from incidence model. In addition, the valuation is… Source link

Investors should keep an eye out for casino and real estate stocks next year, according to Gerber Kawasaki Wealth & Investment Management CEO Ross Gerber. MGM (MGM), Lennar (LEN), and Tesla (TSLA) were selected as the top three stocks poised to rise in 2022 in Gerber’s preview. He joined Yahoo Finance Live on Thursday to discuss which stocks should perform best next year. “MGM is a long-term holding of ours and we’ve been adding to it on the weakness because of Omicron,” Gerber said…. Source link

Victoria’s Secret stock (VSCO) is poised to look much sexier over the next 12 months, says closely followed JPMorgan retail analyst Matt Boss.  Boss reiterated his Overweight (buy equivalent) rating and $100 price target on Victoria’s Secret on Wednesday after a host of positive news from the intimate apparel retailer sent its stock higher by 11% to $53.  First, the company revealed a new $250 million stock buyback plan. The plan is the first buyback for Victoria’s Secret since being… Source link

Christmas may be over, but for investors, the gifts may have only just begun. The “Santa Claus Rally” looks to send 2021 off on a high note for the stock market. The S&P 500 (^GSPC) set a record high for the second consecutive day on Tuesday, subsequently falling a bit in light of a small midday tech stock sell-off. ‘Ho, ho ho’, stocks on the rise? The last five trading days of the year and the first two trading days of the next year together are often the biggest week of the year for the… Source link

Peloton (PTON) may be losing some popularity after a series of headline setbacks, according to analysis of Google Search trends out of Raymond James on Tuesday.  “Historically, Google Search Trends data has correlated well with Peloton hardware sales. Based on our updated analysis, the search trends data indicates continued softening of demand for Peloton sales in the December quarter. Google Trends data indicate U.S. Search Trends have declined 30% year-over-year in the December quarter… Source link

The renewed vigor in oil prices of late is only just the beginning, contends veteran industry analyst Phillip Streible of Blue Line Futures.  Streible thinks oil prices are at risk of hitting $60 in the near-term due to an Omicron-related demand slowdown. But that will likely prove to be a buying opportunity in front of a “long-term” rally in 2022.  “We are going to see the demand picture continue to pick up going into the [summer] driving season. Hopefully we can get this pandemic behind… Source link