Midday movers: Nvidia, Micron and Wix rise; Li Auto falls

Market Intelligence Analyst Adam Crisafulli of Vital Knowledge Reacts to NVIDIA (NVDA) Earnings: 'dividend is so low it’s a wonder why they pay one at all'

Respected Analyst Adam Crisafulli of Vital Knowledge Reacts to NVIDIA (NASDAQ: NVDA) Earnings.

The analyst comments "NVDA (Nvidia) reported upside in FQ1, including sales +262% Y/Y to $26B (vs. the Street $24.69B) and EPS +461% Y/Y to 6.12 (vs. the Street 5.65). The critical Data Center unit saw sales surge 427% Y/Y to $22.6B (about $1.5B above the Streets $21.1B forecast). Within Data Center, Compute spiked 478% to $19.39B while Networking rose 242% to $3.1B. Strong sequential Data Center growth was driven by all customer types, led by Enterprise and Consumer Internet companies. Large cloud... More

Citi Out First to Recap NVIDIA (NVDA) Earnings

Citi analyst Atif Malik reiterated a Buy rating and $1,030.00 price target on NVIDIA (NASDAQ: NVDA).

The analyst comments "Fundamentals: NVDA reported Apr-Q revs/non-GAAP EPS (ex-SBC) of $26B/$6.12 vs. our $24B/$5.39 and Streets (FactSet) $24.6B/$5.60 and guided Jul-Q revenue to $28B (at MP) vs. our $27.5B and Streets $26.6B. Higher Hopper GPU... More

Target (TGT) PT Lowered to $170 at Stifel

Stifel analyst Mark Astrachan lowered the price target on Target (NYSE: TGT) to $170.00 (from $177.00) while maintaining a Hold rating.

The analyst comments "Our F2024-F2025 estimates are largely unchanged following F1Q24 results where operating profit was ~2% below consensus. Despite the lower... More

KeyBanc Reiterates Sector Weight Rating on Target (TGT)

KeyBanc analyst Bradley Thomas reiterated a Sector Weight rating on Target (NYSE: TGT).

The analyst comments "TGT results remain challenged by the consumer environment but show ongoing improvement and should support positive comps in 2Q. 1Q results were mixed, reflecting soft but improving trends... More

Goldman Sachs Reiterates Conviction Buy Rating on Target (TGT)

Goldman Sachs analyst Kate McShane reiterated a Conviction Buy rating and $194.00 price target on Target (NYSE: TGT).

The analyst comments "TGT reported 1Q24 EPS of $2.03, below GS/consensus (Refinitiv) of $2.15/$2.06. SSS came in at -3.7%, in-line with consensus, including declines in traffic... More

Telsey Reiterates Outperform Rating on Target (TGT)

Telsey analyst Joseph Feldman reiterated an Outperform rating and $195.00 price target on Target (NYSE: TGT).

The analyst comments "Target reported mixed 1Q24 results, with an inline comp of (3.7%), but slightly lower EPS of $2.03 vs. the FactSet consensus (FS) of $2.06 and our estimate of $2.10. The total comp of (3.7%) reflects a flattish... More

Stifel on Target (TGT): 'shares could underperform'

Stifel analyst Mark Astrachan reiterated a Hold rating and $177.00 price target on Target (NYSE: TGT).

The analyst comments "Target reported F1Q24 results with comp consistent with consensus and operating income slightly below consensus mainly due to higher D&A expenses. Comp declined 3.7%, consistent with consensus, with operating... More

Citi on Target (TGT): 'comments on the call about expenses could temper the declines'

Citi analyst Paul Lejuez reiterated a Buy rating and $180.00 price target on Target (NYSE: TGT).

The analyst comments "

TGT missed consensus EPS driven by higher SG&A while comps were inline and GM beat. Mgmt reiterated F24 guidance as the qtr was inline w/their... More

Morgan Stanley on Target (TGT) Decline Post Earnings Update: 'market questioning whether bull case EPS is possible'

Morgan Stanley analyst Simeon Gutman reiterated an Overweight rating and $190.00 price target on Target (NYSE: TGT)

The analyst comments "Initial reaction to Q1'24: market questioning whether bull case EPS is possible. Q2'24 guidance seems good enough given recent stock pullback 1. Overall Q1'24 earnings were mostly in-line with GM better but SG&A worse. 2. While comp expectations for Q1 were subdued and in an appropriate range (minus 3 to minus 4), the market still expected... More

Roth/MKM on Target (TGT) Amid Stock 7%+ Decline Post Earnings: 'this print will be met with modest disappointment'

Roth/MKM analyst Bill Kirk reiterated a Neutral rating and $153.00 price target on Target (NYSE: TGT).

The analyst comments "With: 1) physical comparable store sales little improved throughout the boycott (1Q'24 -4.8% y/y vs. 2Q'23 - 4.3% y/y); 2) continued pressure on discretionary assortment; 3) increased... More

Target (TGT) stock drops on earnings miss

(Updated - May 22, 2024 9:42 AM EDT)

Target (NYSE: TGT) shares dropped more than 9% in early Wednesday trading, following its latest quarterly earnings, which saw it miss profit expectations.

The retailer reported Q1 EPS of $2.03, $0.03 worse than the analyst estimate of $2.06. Revenue for the quarter came in at $24.53 billion versus the consensus estimate of $24.51 billion.

In comparison to the same quarter last year, Target's revenue saw a decrease of 3.1%, with comparable sales declining by 3.7%. The company's digital comparable sales grew by 1.4%, with same-day... More

Wix.com (WIX) PT Raised to $196 at CFRA

CFRA analyst Siti Salikin raised the price target on Wix.com (NASDAQ: WIX) to $196.00 (from $155.00) while maintaining a Buy rating.

The analyst comments "We lift our target price to $196 (from $155), an implied 2024 P/S of 6.3x on decent projected revenue... More

Hims and Hers (HIMS) PT Raised to $24 at Canaccord Genuity

Canaccord Genuity analyst Maria Ripps raised the price target on Hims and Hers (NYSE: HIMS) to $24.00 (from $20.00) while maintaining a Buy rating.

The analyst comments "On Monday, 5/20, Hims & Hers announced the addition of GLP-1 treatment to its portfolio of weight loss solutions, with prices... More

Li Auto Inc (2015:HK) (LI) PT Lowered to HK$205 at Morgan Stanley

Morgan Stanley analyst Tim Hsiao lowered the price target on Li Auto Inc (2015:HK) (NASDAQ: LI) to HK$205.00 (from HK$233.00) while maintaining a Overweight rating.

Li Auto (LI) PT Lowered to $53 at Morgan Stanley

Morgan Stanley analyst Tim Hsiao lowered the price target on Li Auto (NASDAQ: LI) to $53.00 (from $65.00) while maintaining a Overweight rating.

The analyst comments "We lower our price target to US$53, from US$65, but remain OW as we believe the... More

NVIDIA (NVDA) PT Raised to $1,100 at CFRA

CFRA analyst Angelo Zino raised the price target on NVIDIA (NASDAQ: NVDA) to $1,100.00 (from $1,000.00) while maintaining a Buy rating.

The analyst comments "We up our 12-month target to $1,100 from $1,000, on a P/E of 35x our CY 25 EPS view, above peers but below... More

Barclays Reiterates Overweight Rating on Alphabet (GOOGL)

Barclays analyst Ross Sandler reiterated an Overweight rating and $200.00 price target on Alphabet (NASDAQ: GOOGL)

The analyst comments "The big breakthrough we saw this week was around AI multi-modal products running very fast on a single neural network, with very low latency and speedy responses, which provides a glimpse into where things are likely headed. The introduction of compelling voice inputs and voice/text/image... More

Wix.com (WIX) PT Raised to $190 at RBC Capital

RBC Capital analyst Brad Erickson raised the price target on Wix.com (NASDAQ: WIX) to $190.00 (from $160.00) while maintaining a Outperform rating.

The analyst comments "WIX's Q1 was sterling. The company beat and meaningfully raised its bookings and FCF outlook as new product AI & up-market product... More

RBC Capital Reiterates Outperform Rating on JPMorgan (JPM)

RBC Capital analyst Gerard Cassidy reiterated an Outperform rating and $211.00 price target on JPMorgan (NYSE: JPM)

The analyst comments "JPM held its annual investor day (presentations here) today and outlined its businesses' strategies with a focus on executing on its detailed strategic... More

Li Auto (LI) PT Lowered to $36 at BofA Securities

BofA Securities analyst Ming Hsun Lee lowered the price target on Li Auto (NASDAQ: LI) to $36.00 (from $41.00) while maintaining a Buy rating.

The analyst comments "Li Auto (Li) announced 1Q24 results and hosted a conference call on 20 May. Total revenue came in... More

Wix.com (WIX) PT Raised to $200 at Oppenheimer

Oppenheimer analyst Ken Wong raised the price target on Wix.com (NASDAQ: WIX) to $200.00 (from $160.00) while maintaining a Outperform rating.

The analyst comments "Wix delivered strength across all investment time horizons with solid 1Q results complemented by 2H bookings acceleration, higher FY25 ceiling,... More

CFRA Downgrades Li Auto (LI) to Sell

CFRA analyst Aaron Ho downgraded Li Auto (NASDAQ: LI) from Hold to Sell with a price target of $18.00 (from $50.00).

The analyst comments "We cut our 12-month target price to USD18 from USD50. The valuation reflects a 2024 P/B of 2x, a... More

Citi Reiterates Buy Rating on Hims and Hers (HIMS)

Citi analyst Daniel Grosslight reiterated a Buy rating and $16.00 price target on Hims and Hers (NYSE: HIMS)

The analyst comments "As widely anticipated, HIMS launched its GLP-1 offering this morning, which we think will significantly increase the interest in its weight loss offering.... More

Evercore ISI Reiterates In Line Rating on Ryanair (RYAAY)

Evercore ISI analyst Duane Pfennigwerth reiterated an In Line rating and $155.00 price target on Ryanair (NASDAQ: RYAAY)

The analyst comments "During F4Q24 (Mar.) Ryanair lost $1.31 per ADS (ahead of our -$1.40) on higher base fares (+19% y/y vs. our 13%), offset... More