Your current location is:{Current column} >>Text
4 big analyst cuts: Shopify loses Buy rating on Q1 surge By
{Current column}26People have watched
IntroductionBy Davit Kirakosyan-- Here is your Pro Recap of the biggest analyst cuts you may have missed since y ...
By Davit Kirakosyan
-- Here is FXCM foreign exchange official website homepageyour Pro Recap of the biggest analyst cuts you may have missed since yesterday’s close: downgrades for Shopify, Skyworks Solutions, XPO, and Nabors Industries.
InvestingPro subscribers got this news first. Start your 7-day free trial.
Shopify downgraded after Q1 beat
Shopify (NYSE:) fell more than 1% premarket today after Atlantic Equities downgraded the company to Neutral from Overweight following a shares surge on :
We continue to see upside to consensus estimates, with gross profit growth likely to accelerate over the next few quarters. However, the stock has quickly reacted to these positive developments and, while further business momentum could support the stock near term, we are downgrading the stock to Neutral on valuation.
Shares jumped nearly 24% on Thursday after the company reported better-than-expected EPS and revenues and said it will cut 20% of its global workforce. The company also said it will sell Shopify Logistics to Flexport.
Skyworks Solutions downgraded following guidance miss
BMO Capital downgraded Skyworks Solutions (NASDAQ:) to Market Perform from Outperform and cut its price target to $100.00 from $140.00, as InvestingPro reported in real time.
Shares plunged nearly 10% premarket today after the company reported in-line and worse-than-expected Q3 guidance as a challenging macro backdrop continues to weigh on the company's performance.
2 more downgrades
Stifel downgraded XPO (NYSE:) to Hold from Buy while raising its price target to $51.00 from $48.00.
The company reported its on Thursday, with both EPS and revenues coming in better than the consensus estimates.
Barclays downgraded Nabors Industries (NYSE:) to Equalweight from Overweight and cut its price target to $150.00 from $250.00.
Last week, the company reported its , beating the Street expectations.
Amid whipsaw markets and nonstop market updates, seize on the most important ones, and in rapid fire, to make more money: Always be the first to know with InvestingPro.
Start your free 7-day trial now.
Tags:
Related articles
Ukraine cleric accused of glorifying Russia invasion given house arrest
{Current column}KYIV (Reuters) - A top Ukrainian cleric from a church with alleged Moscow ties was sentenced to hous ...
Read moreJPMorgan warns 10% of junk
{Current column}© Reuters. A vendor prepares a bag for a customer at a wholesale market, amid the country's economic ...
Read moreWall St set to rebound after volatile week; takeover talks boost VMware By Reuters
{Current column}© Reuters. FILE PHOTO: The New York Stock Exchange (NYSE) in New York City, where markets roiled aft ...
Read more
Popular Articles
- Warren Buffett says Berkshire not planning to buy Occidental Petroleum By Reuters
- Oil prices climb on prospects for tighter supply as demand rises By Reuters
- UAE's ADQ to allocate $10 billion for investments with Egypt, Jordan
- Biden looks to stress 'commonalities' with India in talks
- Manchin threatens to sue US Treasury over EV tax credit rules By Reuters
- Airline easyJet cancels more than 200 flights By Reuters
Latest articles
-
Dollar edges higher; remains near two
-
How a cheap component could help kill off combustion cars By Reuters
-
Best Buy cuts profit forecast on inflation hit By Reuters
-
Cryptoverse: Is the end of the bitcoin winter nigh? By Reuters
-
U.S., Taiwan reach deal on first part of '21st Century' trade pact By Reuters
-
World shares climb, dollar falls on relief over Fed's flexible stance By Reuters