BofA Securities downgraded System 1 (NYSE: SST) to Underperform from Buy and lowered its price target to $4.00 from $12.00 as it believes advertising traffic moving through the business will decline materially on cost cutting initiatives by many of the large companies that System 1 partners with. Shares plunged more than 13% today.

Evercore ISI downgraded Lyft (NASDAQ: LYFT) to In Line from Outperform and lowered its price target to $18.00 from $41.00 in the wake of Q3 results. Shares plunged nearly 23% today on the company's reported Q3 miss.

JPMorgan downgraded DigitalOcean (NYSE: DOCN) to Neutral from Overweight and lowered its price target to $27 from $50, noting that the company’s Q3 report yesterday marked a material slowdown in organic revenue and net-new ARR additions. Shares fell more than 4% today.

Jefferies downgraded Six Flags Entertainment (NYSE: SIX) to Hold from Buy and lowered its price target to $24.00 from $32.00 as it believes a more conservative approach is warranted given increasingly negative economic outlooks and its expected "transition" 3Q22 for the company. The company is scheduled to report its Q3 results on Nov 10. Shares fell more than 5% today.

By Davit Kirakosyan

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