Shoals Technologies Group Inc. (NASDAQ: SHLS): Though Goldman Sachs raised the stock to Buy from Neutral, it also lowered the price target to $33. The consensus target is up at $40.20, and the shares ended trading Wednesday at $21.50. However, the stock was up almost 5% in premarket action.
SolarEdge Technologies Inc. (NASDAQ: SEDG): Goldman Sachs raised its Neutral rating to Buy but lowered the price target to $290. That compares with the consensus target across Wall Street of $292.12 and Wednesday’s closing print of $233.49, which was up over 5% on the day.
Stamps.com Inc. (NASDAQ: STMP): Zacks named this the Bear of the Day stock, saying that earnings revisions have trended in the wrong direction since its first-quarter financial release. Meanwhile, its stock price has failed to regain momentum. Shares last closed at $180.13, but the consensus price target is still up at $325.75.
Tronox Holdings PLC (NASDAQ: TROX): BofA Securities initiated coverage with a Buy rating and a $28 price target. That compares to the consensus target of $25.83 and Wednesday’s closing print of $22.42 a share.
ViacomCBS Inc. (NASDAQ: VIAC): BofA Securities raised the entertainment and programming giant to Buy from Neutral and has set a $53 price target. The posted consensus target is $49.85. The stock was last seen trading at $39.69 on Wednesday.
Youdao Inc. (NYSE: DAO): Morgan Stanley upgraded the stock to Overweight from Equal Weight and also increased the price target to $30. The consensus target is $38.87, and the stock closed on Wednesday at $22.40.
One top analyst has lowered price targets on some of the top software stocks. Yet, the firm has four that are still the place to be, given their strong fundamentals and how well they held up into recent selling.
Wednesday’s early top analyst upgrades and downgrades included Ferrari, Ford, Netflix, Nordstrom, Salesforce.com, Sally Beauty, UBS, Walmart and Wells Fargo. Analyst calls seen later in the day were on AutoZone, CVS, Home Depot, Macy’s and more.