After-hours movers: Cisco, Reddit, The Trade Desk, Robinhood and more

BofA Removes The Trade Desk Inc. (TTD) from US 1 List

BofA Removes The Trade Desk Inc. (NASDAQ: TTD) from US 1 List.

Fastly Inc. (FSLY) PT Lowered to $9 at Citi, 'Opportunities Abound but Execution and Patience are Required

Citi analyst Fatima Boolani lowered the price target on Fastly Inc. (NYSE: FSLY) to $9.00 (from $10.00) while maintaining a Neutral rating.

The analyst comments "Modest ~2pt rev growth beat to 2% YoY was driven by momentum outside the Top 10 customers, which maintained mid-teens YoY... More

AppLovin Corp (APP) PT Raised to $500 at Goldman Sachs

Goldman Sachs analyst Eric Sheridan raised the price target on AppLovin Corp (NASDAQ: APP) to $500.00 (from $335.00) while maintaining a Neutral rating.

The analyst comments "In its Q4'24 earnings report, AppLovin (APP) management emphasized a few key themes: a) strong advertising revenue performance; 2) the company sees technological advancements (driven by AI/improvements in... More

The Trade Desk (TTD) PT Lowered to $100 at Wolfe Research

Wolfe Research analyst Shweta Khajuria lowered the price target on The Trade Desk (NASDAQ: TTD) to $100.00 (from $155.00) while maintaining a Outperform rating.

The analyst comments "Our Outperform rating is based on our view of TTD maintaining 20% revenue growth, ramping new partnerships (Roku, Disney,... More

Rosenblatt Upgrades Cisco (CSCO) to Buy

Rosenblatt analyst Mike Genovese upgraded Cisco (NASDAQ: CSCO) from Neutral to Buy with a price target of $80.00.

The analyst comments "We have been arguing that Extreme (EXTR, Buy) and Juniper (JNPR, Neutral) deserve multiple expansion, from 15x/16x forward PE to 20x or greater, due to growth in software subscriptions/ARR/RPOs, and as AI becomes a larger driver of total business. We are upgrading Cisco to Buy... More

AppLovin Corp (APP) PT Raised to $580 at BofA Securities

BofA Securities analyst Omar Dessouky raised the price target on AppLovin Corp (NASDAQ: APP) to $580.00 (from $375.00) while maintaining a Buy rating.

The analyst comments "Q4 Advertising (fka Software) segment revenue was above the expectations of the vast majority of investors we spoke with pre-print,... More

Truist Securities Reiterates Buy Rating on MGM Resorts (MGM)

Truist Securities analyst Barry Jonas reiterated a Buy rating and $50.00 price target on MGM Resorts (NYSE: MGM).

The analyst comments "MGMS EBITDAR handily beat us/Street by +3%/+4%, driven Regionals and Macau. Vegas was inline with the Street but good enough given tough... More

The Trade Desk (TTD) PT Lowered to $115 at BMO Capital

BMO Capital analyst Brian Pitz lowered the price target on The Trade Desk (NASDAQ: TTD) to $115.00 (from $160.00) while maintaining a Outperform rating.

The analyst comments "First Miss of Internal Expectations in 33 Quarters as 4Q24 Revenue/Adj EBITDA 2.5%/4.5% Below Street. 1Q25E guide is 1%/25%... More

Reddit (RDDT) PT Raised to $185 at JPMorgan

JPMorgan analyst Doug Anmuth raised the price target on Reddit (NYSE: RDDT) to $185.00 (from $142.00) while maintaining a Neutral rating.

The analyst comments "RDDT shares traded down -13% post-close driven by slower than expected DAUq growth & a slightly softer than expected 1Q revenue outlook, albeit against high expectations. We believe DAUq growth softened after Thanksgiving primarily across US logged-out users driven by the Google search algo change (Google ~40-50% of RDDTs traffic), crawling issues that impacted Googles ability to scrape data which drove RDDTs rankings lower, & typically softer holiday seasonality.... More

MGM Resorts (MGM) PT Raised to $50 at Stifel

Stifel analyst Steven Wieczynski raised the price target on MGM Resorts (NYSE: MGM) to $50.00 (from $47.00) while maintaining a Buy rating.

The analyst comments "One of the recent knocks on the MGM story has been how would the company be able to grow against... More

Reddit (RDDT) PT Lowered to $225 at Jefferies

Jefferies analyst John Colantuoni lowered the price target on Reddit (NYSE: RDDT) to $225.00 (from $230.00) while maintaining a Buy rating.

The analyst comments "RDDT continued to execute on diversifying customers/products to help deliver a 5th straight acceleration in Advertising Revenue. However, impressive... More

Raymond James Reiterates Strong Buy Rating on Reddit (RDDT)

Raymond James analyst Josh Beck reiterated a Strong Buy rating and $250.00 price target on Reddit (NYSE: RDDT)

The analyst comments "The Call: Reiterate Strong Buy on RDDT and would be buyers on the pullback as late quarter Google algorithm changes (note Google core update December 12-18) contributed to an unexpected... More

Raymond James Reiterates Market Perform Rating on The Trade Desk (TTD)

Raymond James analyst Aaron Kessler reiterated a Market Perform rating on The Trade Desk (NASDAQ: TTD).

The analyst comments "We maintain our Market Perform rating after The Trade Desk reported 4Q results that missed revenue guidance for the first non-pandemic quarter since... More

Robinhood Markets (HOOD) PT Raised to $60 at Citi

Citi analyst Christopher Allen raised the price target on Robinhood Markets (NASDAQ: HOOD) to $60.00 (from $45.00) while maintaining a Neutral rating.

The analyst comments "HOOD reported a strong 4Q, with core EPS of ~$0.54 ahead of our $0.44 est. with upside driven by both... More

Cisco (CSCO) PT Raised to $71 at Citi

Citi analyst Atif Malik raised the price target on Cisco (NASDAQ: CSCO) to $71.00 (from $68.00) while maintaining a Buy rating.

The analyst comments "Shares of CSCO rallied MSDs post a modest beat and raise Q as strength in core networking drove a raised FY25... More

Reddit (RDDT) PT Raised to $220 at Citi

Citi analyst Ronald Josey raised the price target on Reddit (NYSE: RDDT) to $220.00 (from $200.00) while maintaining a Buy rating.

The analyst comments "Although Reddit reported a beat & raise quarter with 4Q revenue & EBITDA coming in ~6% and 21% above consensus, respectively, and 1Q revenue and EBITDA... More

Evercore ISI Downgrades The Trade Desk (TTD) to In Line

Evercore ISI analyst Mark Mahaney downgraded The Trade Desk (NASDAQ: TTD) from Outperform to In Line with a price target of $90.00 (from $135.00).

The analyst comments "Our View: We are downgrading TTD from Outperform to In Line, materially reducing estimates (25 EBITDA cut 11%) and reducing our PT to $90 (from $135) in the wake of Miss & Lower Q4 EPS... More