Top Analyst Upgrades and Downgrades: Beyond Meat, Costco, Disney, Gap, Hecla Mining, Qualcomm, Slack, Teradata, Walmart, Zillow and More
SailPoint Technologies Holdings Inc. (NYSE: SAIL) was started with an Outperform rating and a $32 price target at Wedbush. This was after a 9.2% gain to $21.99 on Thursday, but Wedbush sees a big opportunity for the company’s leading identity-based solution to provide secure access to data that resides outside the corporate network in an effort to remedy a major pain point for CIOs. Its 52-week range is $16.63 to $32.25.
Slack Technologies Inc. (NYSE: WORK) closed up 1% at $20.34 on Thursday, but its shares were indicated lower by about 2% at $19.95 after Wedbush initiated coverage with an Underperform rating and assigned a mere $14 price target. While it has accumulated about 12 million daily active users and is growing its base of over 100,000 paid customers, Wedbush’s customer checks are pointing to where Slack will have a hard time further penetrating the enterprise with such a significant competitive offering from Microsoft’s TEAM product.
Square Inc. (NYSE: SQ) was maintained as Buy at UBS, but the firm lowered its target price to $77 from $81. Shares closed up 5% at $64.41 on Thursday, as several other firms also trimmed their upside expectations.
Teradata Corp. (NYSE: TDC) was up almost 3% at $31.12 ahead of earnings, but it was last seen down about 25% at $23.50 in the early Friday trading indications. Its 52-week range was $27.95 to $49.42, and its consensus target price had been $42.15. Merrill Lynch downgraded it to Neutral from Buy and slashed its price objective to $33 from $48, and Stifel downgraded it to Hold from Buy and slashed its $60 prior target to $25.
UDR Inc. (NYSE: UDR) was started as Neutral with a $53 target price (versus a $47.49 close, after a 2.4% drop) at Goldman Sachs. The consensus target price is $50.26.
Ulta Beauty Inc. (NASDAQ: ULTA) was started with a Reduce rating and a $215 target price at Nomura/Instinet. The stock closed at $243.77 ahead of the call, and it has a 52-week range of $224.43 to $368.83 and a consensus target price of $288.68.
Virtu Financial Inc. (NASDAQ: VIRT) was downgraded to Neutral from Buy and the target price was lowered to $17 from $21 at UBS. Shares closed down 2% at $16.00 on Thursday, and they were indicated down another 1.4% at $15.78 on Friday.
Walmart Inc. (NYSE: WMT) was started with a Buy rating and a $132 target price at Nomura/Instinet. Walmart closed up 0.6% at $120.23 a share on Thursday. The consensus target price is $123.05, and the 52-week trading range is $85.78 to $120.92.
Walt Disney Co. (NYSE: DIS) closed up 1.4% at $133.13 on Thursday with a strong market, and its post-earnings reaction initially had its shares up 3.7% at $138.10. Wells Fargo maintained its Outperform rating but trimmed its target to $167 from $173. Disney’s 52-week high is still up at $147.15, and its consensus target price was previously $151.04.
Yelp Inc. (NYSE: YELP) was maintained as Hold at Stifel, but the firm trimmed its target price to $35 from $38. Shares were down 7.9% at $30.12 on Thursday ahead of what was expected to be unexciting earnings, and they initially traded down 2% to $29.50 after earnings. This is against a pre-earnings consensus target price of $39.39, but the shares already had a 52-week range of $29.33 to $45.45.
Zillow Group Inc. (NASDAQ: ZG) was up 0.3% at $33.72 on Thursday ahead of its earnings, but the after-hours trading reaction initially had shares up 10.3% at $37.15. The 52-week range is $26.20 to $50.99, and the consensus target price was $45.38. Wedbush maintained its Neutral rating and its $39 price target, as it still sees a long road ahead. KeyBanc Capital Markets maintained its Overweight rating but lowered its target price to $63 from $65.
Zix Corp. (NASDAQ: ZIXI) was started with an Outperform rating and a $10 price target at Wedbush. It previously closed up 1.5% at $6.69 on Thursday, in a 52-week range of $5.25 to $11.15 and with a prior consensus target price of $12.25.
Despite a pullback in gold, and despite a sell-off in gold and gold miners, Argus sees 20% upside in two of the top gold mining companies. That said, investors were bailing out of their go-to defensive stock names as the China tariffs look to be rolled back under a phase-one trade deal allowed the stock market to hit yet even more all-time highs.
The RBC analysts are very positive on the banking stocks, and they think that the sector could be ready for a period of outperformance that was seen in the mid-1990s.
Thursday’s top analyst upgrades and downgrades included Citigroup, CommScope, CVS Health, CyberArk, Emerson Electric, Match, Mylan, Qualcomm, Roku, Square, Twitter, Vonage and many more.