Labeled toxic by more parties than can easily be counted, Facebook Inc. (NASDAQ: FB) even has seen an advertising boycott by some larger companies and social justice groups. Its shares were up over 8%, as it is still the top social media destination and keeps growing cash whether or not its employees are all working remotely. Facebook hit a new high after its report, and analysts raised their targets galore. Rosenblatt Securities took on the role as the biggest Facebook bull with a Buy rating and a $325 price target.
All said and done, PayPal Holdings Inc. (NASDAQ: PYPL) stock rose about 10%, after earnings, surging to all-time highs. As COVID-19 has forced more commerce to the web, online payment services have seen a big boost. Undoubtedly, this is what accounts for PayPal’s record quarter. Analysts are chasing it up with even higher target prices. Deutsche Bank was the biggest PayPal bull, with a Buy rating and a $234 price target. PayPal stock closed Friday at $196.07, in a 52-week range of $82.07 to $198.66. The consensus price target is $208.64.
Social media and discovery tool Pinterest Inc. (NYSE: PINS) is supposed to have the least amount of offense, the least amount of controversy, hate speech and the other negatives that social media platforms have been dealing with (or fostering). Its shares were up about 36% at $34.29 on Friday, which is still shy of its $36.83 high over the past year. Pinterest is helping buyers and sellers alike, and with everyone at home, the global monthly active users surged by 39% in the most recent quarter alone. Pinterest stock trades within a 52-week range of $10.10 to $36.83. The consensus price target is $24.27.
Before earnings, Shopify Inc. (NYSE: SHOP) traded at $985, but it had been in the low $900s per share before bouncing and before Goldman Sachs issued an admittedly late upgrade. Other analysts piled in here with much higher target prices. Even though Shopify only moved up so much as a result of earnings, keep in mind that the stock has gained about 164% year to date. Out of the analysts, Rosenblatt Securities hit the highest price target at $1,400. Shopify stock closed Friday at $1,024.00, in a 52-week range of $282.08 to $1,107.92. The consensus price target is $1,057.05.
Not only did Qualcomm Inc. (NASDAQ: QCOM) beat earnings, but it also announced a pact with Huawei that will bolster its business even further. It also keeps getting referred to as the 5G winner with the best smartphone chips bar none, and analysts raised price targets handily. Canaccord Genuity was the biggest bull, with a $137 price target. Qualcomm stock closed Friday at $105.61, in a 52-week range of $58.00 to $107.75. The consensus price target is $109.33.
United Parcel Service Inc. (NYSE: UPS) did not get the coverage or credit it deserves, and its shares surged to 52-week highs, as the company is shipping and delivering around the clock. As much as Amazon is capitalizing on its online marketplace, UPS is capitalizing on its delivery network. With more people stuck at home, demand will only go up for delivery services. Raymond James reiterated a Strong Buy rating with a $165 street-high price target. UPS stock was last seen at $142.76, in a 52-week range of $82.00 to $145.50. The consensus price target is $115.39.