RingCentral Inc. (NYSE: RNG): Evercore ISI’s downgrade was to In line from Outperform. Its $40 target price is less than the $51.23 consensus target. The stock was mauled Thursday, closing down over 23% to $37.07, despite earnings topping estimates and strong subscription revenue growth.
Roku Inc. (NASDAQ: ROKU): Atlantic Equities upgraded the shares from Underweight to Neutral with a $76 target. The consensus price objective is $57.28 for now. The stock closed on Thursday at $70.57, up 11% on the day after earnings beat estimates.
Seagen Inc. (NASDAQ: SGEN): Evercore ISI’s upgrade to Outperform from In Line came with a target price increase to $175 from $150. The consensus target is $161.10. The shares closed up 13% on Thursday at $160.91 after earnings beat expectations.
Shopify Inc. (NYSE: SHOP): Goldman Sachs raised its $36 target price on the Neutral-rated shares to $40. The consensus target is $44.36. The $44.91 close on Thursday was down 16% on the day after a lackluster quarterly forecast.
Tractor Supply Co. (NASDAQ: TSCO): Cowen initiated coverage with a Market Perform rating and has a $245 target price. The consensus target is $246.66. Thursday’s final trade was for $236.98 a share.
Tripadvisor Inc. (NASDAQ: TRIP): As Bernstein downgraded the stock to Market Perform from Outperform, it trimmed its $28 target price to $26. The consensus target is $25.80. The stock closed almost 11% lower on Thursday at $22.57, despite better than expected quarterly results.
Twilio Inc. (NYSE: TWLO): Oppenheimer reiterated an Outperform rating and raised its $75 target price to $85. The consensus target is $79.77. The shares ended Thursday at $75.45, up almost 15% on the day after an earnings beat and strong forward guidance.
Vitesse Energy Inc. (NYSE: VTS): Evercore ISI initiated coverage with an Outperform rating and a $22 target price, which was a bit lower than the consensus target. The stock closed down 4% on Thursday at $17.72.
The rally that started this year was likely of the bear market variety, and some feel we could be headed for a 20% drop. So, it makes sense for investors to take advantage of the recent increase in stock prices and shift to higher and safer ground.
Also see who the 10 most influential activist investors were last year.
Thursday’s top analyst upgrades and downgrades included Airbnb, Bath & Bodyworks, Chewy, Coca-Cola, DraftKings, GlobalFoundries, Marriott International, Mobileye Global, SoFi Technologies, Southwest Airlines, Tesla, Upstart and U.S. Bancorp.
Originally published at 24/7 Wall St.
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