After-hours movers: Apple, Block, Coinbase, Booking and more
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Apple (AAPL) PT Raised to $230 at BofA Securities, 'many positive catalysts ahead'
May 3, 2024 9:32 AM EDTBofA 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
William Blair Comments on Block Inc. (SQ)
May 3, 2024 7:13 AM EDTWilliam Blair analyst Cristopher Kennedy reiterated a Market Perform rating on Block Inc. (NYSE: SQ).
The analyst comments "Stock thoughts and risks. We are encouraged by managements increased focus on profitable growth, yet reiterate our Market Perform rating as we feel... More
Cloudflare Inc. (NET) PT Lowered to $76 at UBS
May 3, 2024 7:05 AM EDTUBS analyst Roger Boyd lowered the price target on Cloudflare Inc. (NYSE: NET) to $76.00 (from $88.00) while maintaining a Sell rating.
The analyst comments "1Q results were generally positive with an ~average 1.4% topline beat and healthy margin beats (OpM of 11.2%, +450bps... More
Cloudflare Inc. (NET) PT Lowered to $80 at Cantor Fitzgerald
May 3, 2024 6:56 AM EDTCantor Fitzgerald analyst Yi Fu Lee lowered the price target on Cloudflare Inc. (NYSE: NET) to $80.00 (from $100.00) while maintaining a Neutral rating.
The analyst comments "We are maintaining our Neutral rating and adjusting our Price Target to $80 from $100 based on an uncertain... More
RBC Capital Comments on Booking Holdings (BKNG)
May 3, 2024 6:38 AM EDTRBC Capital analyst Brad Erickson reiterated an Outperform rating and $3,900.00 price target on Booking Holdings (NASDAQ: BKNG)
The analyst comments "BKNG reported a big Q1 beat but guided a bit soft on Q2, though largely for 1x/transitory/explainable reasons. Most... More
RBC Capital Reiterates Outperform Rating on Block Inc. (SQ)
May 3, 2024 6:37 AM EDTRBC Capital analyst Daniel Perlin reiterated an Outperform rating and $88.00 price target on Block Inc. (NYSE: SQ)
The analyst comments "SQ delivered another beat on adj. EBITDA, reiterating its focus on profitability and its goal of achieving the Rule of 40 by FY26, with FY24 guidance... More
Evercore ISI on Apple (AAPL): 'Making Apple Great Again. Maintain TOP PICK'
May 3, 2024 6:20 AM EDTEvercore 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
Evercore ISI Comments on Block Inc. (SQ)
May 3, 2024 6:17 AM EDTEvercore ISI analyst David Togut reiterated an In Line rating and $75.00 price target on Block Inc. (NYSE: SQ).
The analyst comments "SQ raised 2024 gross profit, adjusted operating income and adjusted EBITDA guidance. And while updated guidance largely matched our estimates, they exceeded consensus forecasts across all metrics. We see conservatism in managements 2024 guidance with scope for upside as we progress... More
Deutsche Bank Comments on Block Inc. (SQ)
May 3, 2024 6:10 AM EDTDeutsche Bank analyst Bryan Keane reiterated a Buy rating and $90.00 price target on Block Inc. (NYSE: SQ)
The analyst comments "SQ yet again reported strong quarterly results with 1Q24 gross profit growth coming in well ahead of expectations at ~22% Y/Y along with $100m+ beats in adj. EBITDA and adj. operating income.... More
Goldman Sachs Comments on Apple (AAPL)
May 3, 2024 6:04 AM EDTGoldman 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
Coinbase Global Inc. (COIN) PT Raised to $315 at H.C. Wainwright
May 3, 2024 6:01 AM EDTH.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 Block Inc. (SQ)
May 3, 2024 5:59 AM EDTGoldman Sachs analyst Michael Ng reiterated a Buy rating and $94.00 price target on Block Inc. (NYSE: SQ).
The analyst comments "SQ's 2Q24 gross profit, AOI, and EBITDA beat on better-than-expected performance in both Cash App & Seller gross profit as well as better opex.... More
Apple (AAPL) PT Raised to $196 at Rosenblatt
May 3, 2024 5:46 AM EDTRosenblatt 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
Jefferies Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:41 AM EDTJefferies 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)
May 3, 2024 5:40 AM EDTMizuho 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
JMP Securities Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:39 AM EDTJMP Securities analyst Devin Ryan reiterated a Market Outperform rating and $320.00 price target on Coinbase Global Inc. (NASDAQ: COIN)
The analyst comments "Blowout quarter for Coinbase as the firm benefits from improving environment and diversification efforts. This evening (5/2), Coinbase reported 1Q24 Diluted EPS of... More
Raymond James Reviews Coinbase Global Inc. (COIN)
May 3, 2024 5:38 AM EDTRaymond 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)
May 3, 2024 5:38 AM EDTBarclays 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
May 3, 2024 5:37 AM EDTGoldman 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
May 3, 2024 5:32 AM EDTCiti 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
Expedia (EXPE) PT Lowered to $150 at Deutsche Bank
May 3, 2024 5:24 AM EDTDeutsche Bank analyst Leo Horowitz lowered the price target on Expedia (NASDAQ: EXPE) to $150.00 (from $193.00) while maintaining a Buy rating.
The analyst comments "All in all, while we recognize the rising execution risks that exist for Expedia moving forward, we believe that... More
Booking Holdings (BKNG) PT Raised to $3,750 at Goldman Sachs
May 3, 2024 5:22 AM EDTGoldman Sachs analyst Eric Sheridan raised the price target on Booking Holdings (NASDAQ: BKNG) to $3,750.00 (from $3,630.00) while maintaining a Neutral rating.
The analyst comments "We recap BKNGs Q124 earnings report which reflected a few key themes: a) an across-the-board Q1 beat... More
Booking Holdings (BKNG) PT Raised to $4,205 at BMO Capital
May 3, 2024 5:21 AM EDTBMO Capital analyst Brian J. Pitz raised the price target on Booking Holdings (NASDAQ: BKNG) to $4,205.00 (from $4,150.00) while maintaining a Outperform rating.
The analyst comments "We reiterate our OP rating on shares of BKNG and increase our target price to $4,205 from $4,150 on 1) the... More
Booking Holdings (BKNG) PT Raised to $4,150 at DA Davidson
May 3, 2024 5:18 AM EDTDA Davidson analyst Tom White raised the price target on Booking Holdings (NASDAQ: BKNG) to $4,150.00 (from $4,100.00) while maintaining a Buy rating.
The analyst comments "We affirm our BUY-rating on shares of BKNG and nudge up our forecasts just slightly following 1Q24 results that... More
BMO Capital Downgrades Expedia (EXPE) to Market Perform
May 3, 2024 5:14 AM EDTBMO Capital analyst Brian J. Pitz downgraded Expedia (NASDAQ: EXPE) from Outperform to Market Perform with a price target of $145.00 (from $165.00).
The analyst comments "We are downgrading shares of EXPE to Mkt from OP with a target price of $145 vs. $165 previously. Vrbo... More
