Midday movers: Super Micro Computer, Airbnb and Lyft fall; Shopify rises

Lyft (LYFT) PT Lowered to $11 at DA Davidson

DA Davidson analyst Tom White lowered the price target on Lyft (NASDAQ: LYFT) to $11.00 (from $18.00) while maintaining a Neutral rating.

The analyst comments "Revenue estimates largely unchanged; EBITDA forecasts trimmed on incremental investment - Our 2024 and 2025 revenue forecasts are effectively unchanged. Our 2024... More

CVS Health (CVS) PT Lowered to $63 at Deutsche Bank

Deutsche Bank analyst George Hill lowered the price target on CVS Health (NYSE: CVS) to $63.00 (from $64.00) while maintaining a Hold rating.

The analyst comments "The Tumult Reaches a New High, as Guidance Reaches a New Low: CVS reported Q2 results and provided an updated earnings outlook with a... More

Walt Disney (DIS) PT Lowered to $120 at BofA Securities

BofA Securities analyst Jessica Ehrlich lowered the price target on Walt Disney (NYSE: DIS) to $120.00 (from $145.00) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating but lower our PO to $120 from (from $145 previously). Our new PO reflects... More

Lyft (LYFT) PT Lowered to $17 at RBC Capital

RBC Capital analyst Brad Erickson lowered the price target on Lyft (NASDAQ: LYFT) to $17.00 (from $24.00) while maintaining a Outperform rating.

The analyst comments "LYFT's print wasn't great. Positively, the company is organically driving lower prices through operational improvements which should drive... More

Shopify (SHOP) PT Lowered to $90 at Citi

Citi analyst Tyler Radke lowered the price target on Shopify (NYSE: SHOP) to $90.00 (from $97.00) while maintaining a Buy rating.

The analyst comments "We remain buyers of SHOP following a very strong 2Q which assuaged investor concerns on the top-line and bottom line. Against a... More

Shopify (SHOP) PT Raised to $85 at Morgan Stanley

Morgan Stanley analyst Keith Weiss raised the price target on Shopify (NYSE: SHOP) to $85.00 (from $80.00) while maintaining a Overweight rating.

The analyst comments "Growth initiatives across Enterprise, POS & International enable Shopify to exceed top-line expectations despite an uneven macro. At the same time,... More

Lyft (LYFT) PT Lowered to $17 at RBC Capital

RBC Capital analyst Brad Erickson lowered the price target on Lyft (NASDAQ: LYFT) to $17.00 (from $24.00) while maintaining a Outperform rating.

The analyst comments "LYFT's print wasn't great. Positively, the company is organically driving lower prices through operational improvements which should drive... More

Lyft (LYFT) PT Lowered to $13 at Truist Securities

Truist Securities analyst Youssef Squali lowered the price target on Lyft (NASDAQ: LYFT) to $13.00 (from $18.00) while maintaining a Hold rating.

The analyst comments "With 2Q24 results virtually in line and a light 3Q24 guide, we remain on the sidelines awaiting additional proof... More

Lyft (LYFT) PT Lowered to $10 at MoffettNathanson

MoffettNathanson analyst Michael Morton lowered the price target on Lyft (NASDAQ: LYFT) to $10.00 (from $14.00) while maintaining a Buy rating.

The analyst comments "All in all, 2Q results and 3Q guidance gave us no reason to improve our 2027E Gross Bookings outlook that... More

Lyft (LYFT) PT Lowered to $18 at Canaccord Genuity

Canaccord Genuity analyst Michael Graham lowered the price target on Lyft (NASDAQ: LYFT) to $18.00 (from $23.00) while maintaining a Buy rating.

The analyst comments "Lyft reported a generally solid quarter in Q2, with gross bookings slightly below consensus but within the guidance range while revenue and profitability were modestly above expectations.... More

SMCI earnings: Here's how analysts reacted

Super Micro Computer (NASDAQ: SMCI) reported its latest quarterly earnings after the close on Tuesday, with its shares falling more than 14% in premarket trading in reaction to the report.

While the company showed robust revenue guidance, it struggled with gross margins, leading to mixed outlooks on its performance and future prospects.

Here's how Wall Street analysts reacted:

Rosenblatt highlighted that SMCI delivered "inline sales for the June quarter but missed earnings due to GM pressure from a more considerable liquid cooling uptick, hyperscale mix, and... More