After-hours movers: Qualcomm, Carvana rise; DoorDash, Etsy, Fastly fall

Carvana (CVNA) PT Raised to $108 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner raised the price target on Carvana (NYSE: CVNA) to $108.00 (from $66.00) while maintaining a Hold rating.

The analyst comments "Yesterdays considerable positive stock reaction to Carvanas Q1 print, in our view, reflects market enthusiasm around the companys reiteration of positive momentum heading into rest of year, as it demonstrates... More

Etsy (ETSY) PT Lowered to $78 at BTIG

BTIG analyst Marvin Fong lowered the price target on Etsy (NASDAQ: ETSY) to $78.00 (from $87.00) while maintaining a Buy rating.

The analyst comments "ETSY continues to suffer from softness in discretionary spending as consolidated GMS declined by 3.7%. Etsy marketplace GMS fell 5.3% (5.6% in constant FX). Recall ETSY guided to a LSD decline in 1Q24, although a MSD decline was possible if growth initiatives didn't pan out. March underperformed management's expectations, in part due to a larger-than-expected Easter/Spring Break effect, which detracted from 1Q but was made up for in April. However, there was additional... More

Etsy (ETSY) PT Lowered to $60 at Deutsche Bank

Deutsche Bank analyst Leo Horowitz lowered the price target on Etsy (NASDAQ: ETSY) to $60.00 (from $65.00) while maintaining a Hold rating.

The analyst comments "Set against fairly tepid expectations, Etsy reported a 1Q GMS miss, with a 2Q outlook that will continue to call into question the... More

DoorDash Inc. (DASH) PT Raised to $144 at Citi

Citi analyst Ronald Josey raised the price target on DoorDash Inc. (NASDAQ: DASH) to $144.00 (from $141.00) while maintaining a Buy rating.

The analyst comments "Although the debate post 1Q is likely to revolve around visibility and investments given 2Q24E GOV guidance was in-line... More

Etsy (ETSY) PT Lowered to $62 at Citi

Citi analyst Nicholas Jones lowered the price target on Etsy (NASDAQ: ETSY) to $62.00 (from $72.00) while maintaining a Neutral rating.

The analyst comments "Etsy reported 1Q24 results/2Q24 guidance both below expectations, particularly on GMS. Last quarter management expected 1Q to be the... More

Zillow Group (ZG) PT Lowered to $58 at Citi

Citi analyst Ronald Josey lowered the price target on Zillow Group (NASDAQ: ZG) to $58.00 (from $68.00) while maintaining a Buy rating.

The analyst comments "Although R.E. headwinds continue to pressure results, we believe there are multiple product catalysts that can support DD Y/Y... More

Qualcomm (QCOM) PT Raised to $200 at Wolfe Research

Wolfe Research analyst Chris Caso raised the price target on Qualcomm (NASDAQ: QCOM) to $200.00 (from $180.00) while maintaining a Outperform rating.

The analyst comments "Net. QCOM posted an inline MarQ and JunQ guidance (Rev -2% q/q) beat expectations. Unlike SWKS yesterday, QCOM... More

Qualcomm (QCOM) PT Raised to $185 at JPMorgan

JPMorgan analyst Samik Chatterjee raised the price target on Qualcomm (NASDAQ: QCOM) to $185.00 (from $170.00) while maintaining a Overweight rating.

The analyst comments "Qualcomms F2Q was largely in line with expectations with revenues tracking toward the mid-point of companys prior guidance; however, the guidance for limited seasonal decline into F3Q (-2% at mid-point) helped by seasonal but robust demand trends in Android Smartphone, as well as robust ramps... More

Qualcomm (QCOM) PT Raised to $175 at UBS

UBS analyst Timothy Arcuri raised the price target on Qualcomm (NASDAQ: QCOM) to $175.00 (from $165.00) while maintaining a Neutral rating.

The analyst comments "Despite a smartphone market still struggling a bit to recover, QCOM posted stronger than expected June guidance, though its not obvious that Street numbers in C2H will move higher. On the core handset side, this is... More

Qualcomm (QCOM) PT Raised to $172 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the price target on Qualcomm (NASDAQ: QCOM) to $172.00 (from $158.00) while maintaining a Equalweight rating.

The analyst comments "Overall, Qualcomm delivered good results, particularly given what has become a challenging smartphone supply chain. Qualcomm does face challenges... More

Qualcomm (QCOM) PT Raised to $206 at Canaccord Genuity

Canaccord Genuity analyst T. Michael Walkley raised the price target on Qualcomm (NASDAQ: QCOM) to $206.00 (from $180.00) while maintaining a Buy rating.

The analyst comments "With on-device generative AI, a strong product roadmap for all its business units, strong cost discipline, and normalized Android smartphone inventory levels, we anticipate... More

Qualcomm (QCOM) PT Raised to $220 at Bernstein SocGen Group

Bernstein SocGen Group analyst Stacy Rasgon raised the price target on Qualcomm (NASDAQ: QCOM) to $220.00 (from $200.00) while maintaining a Outperform rating.

The analyst comments "Given the state of some recent peer reports we believe there was some nervousness around Qualcomm into this... More

Qualcomm (QCOM) PT Raised to $180 at Mizuho

Mizuho analyst Vijay Rakesh raised the price target on Qualcomm (NASDAQ: QCOM) to $180.00 (from $160.00) while maintaining a Buy rating.

The analyst comments "QCOM reported a good MarQ and guided JunQ topline to $9.2B, down 2% q/q (above cons $9B) with IoT, Autos momentum and... More

Qualcomm (QCOM) PT Raised to $185 at Piper Sandler

Piper Sandler analyst Harsh Kumar raised the price target on Qualcomm (NASDAQ: QCOM) to $185.00 (from $165.00) while maintaining a Overweight rating.

The analyst comments "QCOM reported solid results nicely beating street expectations and also coming out ahead on the guidance for June. In the... More

Qualcomm (QCOM) PT Raised to $180 at BofA Securities

BofA Securities analyst Tal Liani raised the price target on Qualcomm (NASDAQ: QCOM) to $180.00 (from $173.00) while maintaining a Buy rating.

The analyst comments "2Q revenues grew 1.3% YoY vs. Streets 0.5% on QCT (semiconductors) revenues up 1.1% YoY vs. Streets 0.8% and QTL (licensing) up 2.2%... More

Qualcomm (QCOM) PT Raised to $170 at Citi

Citi analyst Christopher Danely raised the price target on Qualcomm (NASDAQ: QCOM) to $170.00 (from $160.00) while maintaining a Neutral rating.

The analyst comments "Yesterday after the close, Qualcomm reported good results and guidance driven by handset inventory replenishment. While the print and... More

JPMorgan Upgrades Carvana (CVNA) to Overweight

JPMorgan analyst Rajat Gupta upgraded Carvana (NYSE: CVNA) from Neutral to Overweight with a price target of $130.00 (from $70.00).

The analyst comments "We move to OW from N on CVNA shares after the company delivered another strong print with above seasonal unit growth and further improvement in unit economics. Adjusted EBITDA of $235 mn in 1Q24 was ahead of our street high $180 mn (and vs. cons of $131 mn) with implied 2Q guide of $235 mn+ also well ahead of prior JPM/cons of $172/$136 mn. The rapid... More

Carvana (CVNA) PT Raised to $103 at Evercore ISI

Evercore ISI analyst Michael Montani raised the price target on Carvana (NYSE: CVNA) to $103.00 (from $77.00) while maintaining a In Line rating.

DoorDash Inc. (DASH) PT Lowered to $118 at Roth/MKM

Roth/MKM analyst Rohit Kulkami lowered the price target on DoorDash Inc. (NASDAQ: DASH) to $118.00 (from $121.00) while maintaining a Neutral rating.

The analyst comments "DASH was down -15% last night as the company reported a mixed-bag quarter with slight upside to 1Q... More

Zillow Group (ZG) PT Lowered to $50 at Evercore ISI

Evercore ISI analyst Mark Mahaney lowered the price target on Zillow Group (NASDAQ: ZG) to $50.00 (from $70.00) while maintaining a Outperform rating.

The analyst comments "We reiterate our Outperform rating on ZG but lower our PT to $50 in the wake of Beat & Lower Q1 EPS Results. Here are the numbers: Revenue of $529MM (up... More

Etsy (ETSY) PT Lowered to $80 at Evercore ISI

Evercore ISI analyst Mark Mahaney lowered the price target on Etsy (NASDAQ: ETSY) to $80.00 (from $90.00) while maintaining a Outperform rating.

The analyst comments "In the wake of In-Line & Lower Q1 EPS results, we are trimming ETSY PT to $80, but patiently sticking with our Outperform. Here are the numbers: Revenue of $646MM and EBITDA of $168MM largely in-line with ISI/Street (with 26.0% EBITDA Margin right on the dot with guidance), GMS of $3.0B was -1% below the... More