Midday movers: Nvidia, Tesla rise; Verizon, CrowdStrike fall
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Piper Sandler Comments on Tesla (TSLA) 10Q: 'We're not sure why, but warranty expense totaled 4.1% of revenue in 2Q24'
July 24, 2024 1:17 PM EDTPiper Sandler analyst Alexander Potter reiterated an Overweight rating and $300.00 price target on Tesla (NASDAQ: TSLA)
The analyst comments "TSLA published its 10Q earlier than expected and, as a result, we had the opportunity to dig deeper on automotive gross margin,... More
Citi Reiterates Buy Rating on NVIDIA (NVDA)
July 24, 2024 9:35 AM EDTCiti analyst Atif Malik reiterated a Buy rating and $150.00 price target on NVIDIA (NASDAQ: NVDA).
The analyst comments "NVIDIA announced yesterday the launch of a new NVIDIA AI Foundry service combined with NVIDIA NIM inference microservices to supercharge generative AI for... More
Canaccord Genuity Reiterates Buy Rating on Tesla (TSLA)
July 24, 2024 7:40 AM EDTCanaccord Genuity analyst George Gianarikas reiterated a Buy rating and $254.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "Teslas 2Q24 earnings results were mostly uneventful after the delivery announcement earlier this month. Yes, auto gross margins were weaker than expected but were likely impacted by $622M in restructuring costs. We were also looking for meaningful metrics and color around FSD take rates after recent price... More
JPMorgan Reiterates Underweight Rating on Tesla (TSLA)
July 24, 2024 7:01 AM EDTJPMorgan analyst Ryan Brinkman reiterated an Underweight rating and $115.00 price target on Tesla (NASDAQ: TSLA)
The analyst comments "2Q automotive adjusted gross margin and free cash flow also tracked softer, implying negative earnings revision risk. Also pointing to the trend in softer underlying results indicating the risk of... More
Roth/MKM Reiterates Neutral Rating on Tesla (TSLA), PT $85, 'CyberCab Outlook for a Steering Wheel is Bearish for the Stock
July 24, 2024 6:56 AM EDTRoth/MKM analyst Craig Irwin reiterated a Neutral rating and $85.00 price target on Tesla (NASDAQ: TSLA)
The analyst comments "Tesla's missed adj-EPS consensus by ($0.10) and adj-auto gross margins by (200 bps). This likely refocuses investors on sustained headwinds from vehicle discounting necessary to drive... More
Baird Reiterates Outperform Rating on Tesla (TSLA)
July 24, 2024 5:20 AM EDTBaird analyst Ben Kallo reiterated an Outperform rating and $260.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "Reiterate Outperform rating. Short-term weakness in auto margins (ex-credits) and bottom-line miss (due largely to higher opex and restructuring) will weigh on the... More
Stifel Reiterates Buy Rating on Tesla (TSLA)
July 24, 2024 5:19 AM EDTStifel analyst Stephen Gengaro reiterated a Buy rating and $265.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "TSLA's 2Q24 release is a mixed bag and could weigh on the shares following the recent strength. Bears will likely focus on: 1) Auto... More
UBS Reiterates Sell Rating on Tesla (TSLA)
July 24, 2024 5:18 AM EDTUBS analyst Joseph Spak reiterated a Sell rating and $197.00 price target on Tesla (NASDAQ: TSLA)
The analyst comments "TSLA is being priced on future optionality TSLA is not being priced on auto (or arguably even Energy) but autonomy and AI. TSLA is working on AI initiatives such as robo-taxi and Optimus humanoid robots.... More
Wells Fargo Reiterates Underweight Rating on Tesla (TSLA), PT $120
July 24, 2024 5:17 AM EDTWells Fargo analyst Colin Langan reiterated an Underweight rating and $120.00 price target on Tesla (NASDAQ: TSLA).
The analyst comments "How do we expect the stock to trade? We expect the stock to trade down. TSLA's Q2 earnings result was low quality;... More
Oppenheimer Reiterates Outperform Rating on CrowdStrike Holdings (CRWD), 'Removing from Top Picks'
July 22, 2024 10:16 AM EDTOppenheimer analyst Ittai Kidron reiterated an Outperform rating and $450.00 price target on CrowdStrike Holdings (NASDAQ: CRWD).
The analyst ocmments "We are removing CrowdStrike from our 2024 Top Picks. While we remain positive on the long-term opportunity, we expect shares to face continued pressure near-term as the company deals with the fallout of its defective software update and... More
