Powell speech, Apple results, OECD growth - what's moving markets

Apple (AAPL) PT Raised to $230 at BofA Securities, 'many positive catalysts ahead'

BofA Securities analyst Wamsi Mohan raised the price target on Apple (NASDAQ: AAPL) to $230.00 (from $225.00) while maintaining a Buy rating.

The analyst comments "The thesis for our upgrade to Buy earlier this year (see our note) is playing out with: (1) strong multi-year... More

Amgen (AMGN) PT Raised to $307 at UBS

UBS analyst Colin Bristow raised the price target on Amgen (NASDAQ: AMGN) to $307.00 (from $284.00) while maintaining a Neutral rating.

The analyst comments "The much anticipated MariTide interim completed (earlier than we expected) with mgmt providing positive qualitative commentary, as we had expected. At face... More

Moderna (MRNA) PT Raised to $135 at RBC Capital

RBC Capital analyst Luca Issi raised the price target on Moderna (NASDAQ: MRNA) to $135.00 (from $125.00) while maintaining a Outperform rating.

The analyst comments "Bottom line was a beat primarily on lower OpEx. Guide was reiterated ($4b revenue and $8.1b costs), and we like... More

Amgen (AMGN) PT Lowered to $328 at RBC Capital

RBC Capital analyst Gregory Renza lowered the price target on Amgen (NASDAQ: AMGN) to $328.00 (from $332.00) while maintaining a Outperform rating.

The analyst comments "GLP-1/GIPR, MariTides stated success on the ph.II interim data look internally takes the cake on the call,... More

Evercore ISI on Apple (AAPL): 'Making Apple Great Again. Maintain TOP PICK'

Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $220.00 price target on Apple (NASDAQ: AAPL).

The analyst comments "AAPL reported better than expected set of numbers and crucially their commentary was much better than buyside fears. Stock should work higher from here as compares get easier, catalysts add up and AAPL executes on AI in a more capital efficient manner vs. other tech companies. March-qtr print came in at $90.8B/1.53 vs. street at $90.4B/1.51 as... More

Goldman Sachs Comments on Apple (AAPL)

Goldman Sachs analyst Michael Ng reiterated a Buy rating and $226.00 price target on Apple (NASDAQ: AAPL).

The analyst comments "AAPL's F2Q24 EPS of $1.53 and revenue of $90.8 bn was in-line with our expectations, but beat consensus, largely on Services gross profit and other income. We gain confidence in our Buy rating with AAPL... More

Peloton Interactive (PTON) PT Lowered to $3.50 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan lowered the price target on Peloton Interactive (NASDAQ: PTON) to $3.50 (from $5.75) while maintaining a Neutral rating.

The analyst comments "Peloton's 3FQ24 earnings report reflected a few key themes: a) a continued overall muted demand environment for the category and dynamics around the companys go-to-market strategy driving near-term subscriber headwinds; b) Peloton... More

Coinbase Global Inc. (COIN) PT Raised to $315 at H.C. Wainwright

H.C. Wainwright analyst Mike Colonnese raised the price target on Coinbase Global Inc. (NASDAQ: COIN) to $315.00 (from $300.00) while maintaining a Buy rating.

The analyst comments "As expected, Coinbase delivered another strong revenue and earnings beat after the close yesterday (5/2). Total trading volumes more than doubled q/q in 1Q24 while retail and institutional take rates both ticked higher, which drove over $1B in total transaction revenues for the first time since 1Q22, while subscription and services revenues also surprised to the upside, resulting in a whopping 20% revenue beat.... More

Goldman Sachs Comments on Amgen (AMGN)

Goldman Sachs analyst Salveen Richter reiterated a Conviction Buy rating and $350.00 price target on Amgen (NASDAQ: AMGN)

The analyst comments "AMGN reported 1Q earnings (in-line top- and bottom-line; details within), with shares trading up significantly post-market (+15%; adding ~$20bn in market cap) as management provided a positive high-level interim update from the ongoing Ph2 study for MariTide in obesity, noting: (1) a differentiated profile vs. currently available therapies (e.g., LLYs Zepbound and NVOs Wegovy), as well as those in clinical development, (2) plans to rapidly advance a broad... More

Apple (AAPL) PT Raised to $196 at Rosenblatt

Rosenblatt analyst Barton Crockett raised the price target on Apple (NASDAQ: AAPL) to $196.00 (from $189.00) while maintaining a Neutral rating.

The analyst comments "June Quarter Fears Beaten Back -- Apple also brushed aside Street concerns that the June quarter was pacing for a... More

Telsey Comments on Peloton Interactive (PTON)

Telsey analyst Dana Telsey reiterated a Market Perform rating and $4.00 price target on Peloton Interactive (NASDAQ: PTON).

The analyst comments "Peloton had two big announcements today in the form of the departure of CEO Barry McCarthy after just over two years in the role and a large $200MM restructuring program that will eliminate 15% of the company's global workforce. These announcements overshadowed a return to positive FCF and better-than-expected adjusted EBITDA in... More

Jefferies Reviews Coinbase Global Inc. (COIN)

Jefferies analyst Trevor Williams reiterated a Hold rating and $245.00 price target on Coinbase Global Inc. (NASDAQ: COIN).

The analyst comments "Big adj. EBITDA beat as both net revenue and OpEx were better than expectations. Retail and institutional trading volume growth... More

Mizuho Reviews Coinbase Global Inc. (COIN)

Mizuho analyst Dan Dolev reiterated an Underperform rating and $145.00 price target on Coinbase Global Inc. (NASDAQ: COIN)

The analyst comments "Overall, 1Q was strong but this was widely expected given the rise of Bitcoin & crypto volatility YTD. While take rates were... More

Raymond James Reviews Coinbase Global Inc. (COIN)

Raymond James analyst Patrick O\'Shaughnessy reiterated a Market Perform rating and {REMOVEPT} price target on Coinbase Global Inc. (NASDAQ: COIN).

The analyst comments "We maintain our Market Perform rating on Coinbase Global following 1Q24 results. Near-term momentum remains strong as the... More

Barclays Reviews Coinbase Global Inc. (COIN)

Barclays analyst Benjamin Budish reiterated an Underweight rating and $179.00 price target on Coinbase Global Inc. (NASDAQ: COIN).

The analyst comments "Coinbase reported very strong performance in Q1, just about every revenue line beating, and adj. EBITDA meaningfully ahead of the Street, as... More

Coinbase Global Inc. (COIN) PT Lowered to $255 at Goldman Sachs

Goldman Sachs analyst Will Nance lowered the price target on Coinbase Global Inc. (NASDAQ: COIN) to $255.00 (from $295.00) while maintaining a Buy rating.

The analyst comments "We update our COIN 12-month price target to $255 from $295 based on an unchanged 25x multiple on our Q5-Q8... More

Citi on Apple (AAPL) Earnings

Citi analyst Atif Malik reiterated a Buy rating and $210.00 price target on Apple (NASDAQ: AAPL)

The analyst comments "AAPL stock was +6% after hours on a relief rally as modest 2c Mar-Q beat and LSD Jun-Q growth or $83B+ revenue. iPhone sales were... More

Bernstein SocGen Group Downgrades Peloton Interactive (PTON) to Market Perform

Bernstein SocGen Group analyst Aneesha Sherman downgraded Peloton Interactive (NASDAQ: PTON) from Outperform to Market Perform with a price target of $3.80.

The analyst comments "The key question in the PTON investment thesis is: can this business ever grow again? New mgmt, cost-cuts... More

Moderna (MRNA) PT Raised to $95 at Morgan Stanley

Morgan Stanley analyst Matthew Harrison raised the price target on Moderna (NASDAQ: MRNA) to $95.00 (from $89.00) while maintaining a Equalweight rating.

The analyst comments "Generally in line quarter, looking ahead the next catalysts for the stock are RSV vaccine PDUFA date May 12 (followed... More

Tech analyst explains why he is long Apple stock into earnings

A Lynx Equity Strategies analyst is long into Apple's (NASDAQ: AAPL) earnings release after the close today, stating he believes the iPhone maker is "the next idea to be discovered."

In a recent note, the analyst addresses concerns surrounding iPhone sales, attributing recent weakness to temporary production disruptions rather than systemic issues. They project a 3% increase in... More

Peloton (PTON) to lay off 15% of global workforce, CEO to step down

(Updated - May 2, 2024 9:59 AM EDT)

Peloton (NASDAQ: PTON) shares opened higher Thursday before giving up those gains and more after the company announced cost-cutting measures and a change in its top leadership. The fitness equipment and media company reported third-quarter earnings that fell short of analyst expectations by $0.09, posting an adjusted loss per share of -$0.45 compared to the estimated -$0.36. Despite this, revenue for the quarter was nearly in line with consensus estimates, totaling $717.7 million against an expected $718 million.

The company's revenue declined from the same quarter last year, when it reported... 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

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

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