Tag Archives: analyst

Beyond Meat’s disappointing earnings prompted a price-target plunge from Mizuho analyst John Baumgartner. Though he kept a Neutral rating on the stock, he slashed the firm’s price target to $11.00 from $27.00. In its third-quarter earnings results, the plant-based giant posted a wider-than-expected loss on adjusted earning per share, but beat on revenue estimates as it targets cash flow positive operations within the second half of 2023. Net revenue decreased by 22.5%… Source link

AMD may be in the position to gain market share in the competitive chip space. Baird analyst Tristan Gerra upgraded AMD stock to Outperform in a new note. Gerra sees the stock popping 35% to $100. The stock gained 2% in pre-market trading to nearly $74. Gerra thinks AMD’s new Genoa chips, released last week, will further widen its competitive moat. “Supply chain checks highlight strong reception of Genoa (5nm Zen 4) at data center OEMs, which are shifting significant resources in support of… Source link

Disney (DIS) faces an ultra-competitive landscape as it gets ready to roll out its $7.99 Disney+ ad tier in December, one month after Netflix’s (NFLX) much-anticipated debut. Despite the slowdown in ad spending, analysts remain bullish on the profitability prospects of ad-supported services. That said, investors will be watching Disney’s execution carefully as the fight for ad dollars escalates. “Disney has a burden of the brand where there’s a higher expectation in the quality of the ads… Source link

Meta’s (META) supersized layoffs unveiled on Wednesday could serve up a major profit tailwind. “We believe Meta’s decision to lower the midpoint of FY23 total expense and capex guides by $1.5 billion and $1 billion, respectively, should provide a minimum 8% boost to FY23 EPS [earnings per share],” Jefferies Tech Analyst Brent Thill wrote in a note to clients. Meta said Wednesday it will slash 13% of its workforce, more than 11,000 employees, as it looks to redirect resources to Mark… Source link

If there is any tiny positive from Apple’s fresh iPhone production warning, it’s that recession fears haven’t stopped people from wanting $1,000 plus new models and waiting weeks to get them. “Supply chain challenges have been frequent the last couple of years, and there is limited evidence that delays in shipping devices have had any impact on overall volumes for a product cycle (example: iPhone 12 or iPhone 13) over a multi-quarter period.” JP Morgan analyst Samik Chatterjee wrote in a note… Source link

McDonald’s (MCD) customers in the U.S. are still lovin’ the fast food chain, even with higher prices. In the third quarter, U.S. sales at the Golden Arches increased by 6.1% as more customers made their way back inside restaurants while delivery sales saw a record-high quarter and drive-through sales returned to pre-COVID levels. This positive momentum came despite menu prices increasing by 10% year-over-year. “McDonald’s in the U.S. had positive traffic — not many restaurants today have… Source link

Investors in Meta stock wanted to hear one thing on the embattled company’s earnings call late Wednesday: an acknowledgement by founder Mark Zuckerberg that leaner spending times were ahead as margins have been squeezed by an ill-timed metaverse build out and a slowing ad market. They heard the opposite. The social media platform outlined about 13% year-over-year expense growth for fiscal year 2023, well above the Street’s forecast of 7%. Meta will clearly continue to spend aggressively —… Source link

Coca-Cola’s (KO) better-than-expected earnings report on Tuesday could be a sign of what lies ahead for the beverage giant as it rolls out a potential home-run product with Jack Daniel’s whiskey. “I think the Jack Daniel’s and Coca-Cola [ready-to-drink] cocktail could be something interesting,” Wedbush analyst Gerald Pascarelli said on Yahoo Finance Live (video above). “When you just look at the brand equity of the Coca-Cola trademark as well as Jack Daniel’s, and you look at some of the… Source link

The disappearing stock price for Snap continues after another challenging quarter. Shares of the social media platform crashed 25% in pre-market trading on Friday as third quarter sales marked the fifth straight quarterly deceleration. Profits were also lackluster as Snap continued to blame an advertising slowdown and Apple privacy changes for the execution missteps. Here’s a snapshot of Snap’s dismal numbers: Net Sales: $1.13 billion vs. $1.14 billion estimate Daily Active Users: 363 million… Source link

Elon Musk’s latest lofty prediction for Tesla (TSLA) looks pie in the sky, even by his standards. “I see a potential path to be worth more than Apple and Saudi Aramco combined,” Musk proudly proclaimed on the company’s earnings call on Wednesday. Doing the math, that would put Tesla’s worth at about $4 trillion at some point. Tesla’s current market cap is $652 billion, according to Yahoo Finance data. Analysts say that valuation may not happen for eons, if at all. “That seems quite a bit of a… Source link