The broad markets have hit new highs over the past two weeks on the back of a strong earnings season. But over the past few days the markets have been relatively flat, seeming to solidify these gains that have been marked by massive moves and volatility. As a result, 24/7 Wall St. has taken a look at some stocks making the largest moves before the markets opened on Friday.
We have included a recent trading history, as well as the consensus analyst price target and some color on why each stock is making a move.
Zynga Inc. (NASDAQ: ZNGA) reported a first-quarter loss after the markets closed on Thursday, but this ended up beating estimates. The company said that it had a net loss of $0.01 and revenues of $207.4 million, versus consensus estimates from Thomson Reuters of a net loss of $0.01 per share and $190.9 million in revenue. Shares were last seen up over 11% at $3.16 in early trading indications Friday, with a consensus analyst price target of $3.32 and a 52-week trading range of $2.27 to $3.08.
Universal Display Corp. (NASDAQ: OLED) released earnings after the markets closed as well. The company posted $0.22 in earnings per shares (EPS) and $55.6 million in revenue. Last year the company had $0.04 in EPS and $29.7 million in revenue. Shares were trading up nearly 16% at $104.06 in early trading indications Friday, with a consensus price target of $95.00 and a 52-week range of $47.88 to $92.30.
Zafgen Inc. (NASDAQ: ZFGN) received positive results from its first stage clinical trial of ZGN-1061. The drug candidate demonstrated rapid drug absorption and clearance in line with pre-specified criteria established for the molecule, and it was well-tolerated and safe, with no evidence of prothrombotic effects. Shares were up 11.5% at $5.43 early on Friday, with a consensus price target of $5.80 and a 52-week range of $2.89 to $7.73.
Sierra Wireless Inc. (NASDAQ: SWIR) released its earnings before the markets opened on Friday. The company said that it had $0.24 in EPS and $161.8 million in revenue, versus consensus estimates of $0.16 in EPS and $155.94 million in revenue. Shares were up 17% at $29.00 in early trading indications Friday, with a consensus price target of $24.29 and a 52-week range of $12.30 to $30.60.
Wingstop Inc. (NASDAQ WING) posted a beat on its first-quarter results Friday morning, with $0.15 per share in earnings and $25.6 million in revenue. Consensus estimates were $0.15 in EPS and $24 million in revenue. Shares were up 10% at $32.00 in early trading indications, with a consensus price target of $33.09 and a 52-week range of $24.74 to $33.42.
American Superconductor Corp. (NASDAQ: AMSC) saw its shares drop after the company announced that it could be having a secondary offering for its shares. Shares were down 17% at $4.03 early on Friday, with a consensus price target of $8.09 and a 52-week range of4.58 $ to $11.90.
Flexion Therapeutics Inc. (NASDAQ: FLXN) released its first-quarter earnings results before the markets opened on Friday. The company had a loss of $0.75 per share, which compares to the consensus estimate of a net loss of $0.73 per share. Shares closed Thursday down 2.5% at $19.43, with a consensus price target of $35.63 and a 52-week range of $8.16 to $29.41.
Brightcove Inc. (NASDAQ: BCOV) reported its most recent quarterly results late on Thursday. The company had a net loss of $0.08 per share and $37.6 million in revenue, compared with consensus estimates of a net loss of $0.04 per share and $37.4 million in revenue. Shares were trading down 26% at $6.40 in early trading indications Friday, with a consensus price target of $14.20 and a 52-week range of $5.83 to $13.80.
InVivo Therapeutics Holdings Corp. (NASDAQ: NVIV) reported a first-quarter loss after the markets closed on Thursday. The net loss was $0.21 per share, versus the consensus estimate calling for a −$0.22 per share. Shares were down 20% at $2.70 in early trading indications Friday, with a consensus price target of $16.63 and a 52-week range of $3.30 to $7.94.
Synchronoss Technologies Inc. (NASDAQ: SNCR) saw its shares jump after it was revealed that Silver Private Holdings disclosed that it took a 12.93% stake in the cloud company. Shares were trading up 19% at $18.40 in early trading indications, with a consensus analyst target of $23.57 and a 52-week range of $11.15 to $49.94.
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