Monday Afternoon Analyst Upgrades and Downgrades: Arch Capital, Paycor, Planet Fitness and More
24/7 Wall St. looks at some big analyst upgrades and downgrades that we have seen so far on Monday, including Couchbase, CS Disco, Instructure, Paycor and Planet Fitness.
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With the trading day more than halfway over, the broad markets were pulling back, breaking their streak of all-time highs. The destabilization of Afghanistan, which many are blaming on the Biden administration, has investors looking into geopolitics and most don’t like what they see.
24/7 Wall St. is reviewing some big analyst calls seen on Monday. We have included the latest analyst call on each stock, as well as a recent trading history and the consensus targets among analysts.
For those that might have missed it, 24/7 Wall St. had an earlier round of analyst calls on Monday that included ADP, Chipotle Mexican Grill, Ecolab, PG&E, Seagate Technology and more.
Arch Capital Group Ltd. (NASDAQ: ACGL | ACGL Price Prediction): Morgan Stanley resumed coverage with an Equal Weight rating and a $47 price target. Shares traded near $42 on Monday, in a 52-week range of $27.41 to $41.95.
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Couchbase Inc. (NASDAQ: BASE): Oppenheimer initiated coverage with an Outperform rating and a $40 price target. Goldman Sachs initiated coverage with a Neutral rating and a $49 price target. Morgan Stanley initiated coverage with an Equal Weight rating and a $34 price target. Barclays initiated coverage with an Overweight rating and a $42 price target. Shares traded near $36 on Monday, in a 52-week range of $28.00 to $37.78.
CS Disco Inc. (NYSE: LAW): JPMorgan initiated coverage with an Overweight rating and a $59 price target. Needham initiated coverage with a Buy rating and a $60 price target. Citigroup started it with a Buy rating and a $67 price target. The stock was changing hands near $56 a share on Monday, in a 52-week range of $39.55 to $58.29.
Instructure Holdings Inc. (NYSE: INST): Raymond James initiated coverage with an Outperform rating and a $24 price target. JPMorgan started it with an Overweight rating and a $24 price target. BTIG Research initiated coverage with a Buy rating and a $28 price target. Truist initiated coverage with a Buy rating and a $26 price target. The stock traded near $20 on Monday, in a 52-week range of $18.52 to $23.75.
Paycor HCM Inc. (NASDAQ: PYCR): JPMorgan initiated coverage with a Neutral rating and a $34 price target. Jefferies started coverage with a Buy rating and a $45 price target. Credit Suisse initiated coverage with an Outperform rating and a $41 price target. Raymond James initiated with an Outperform rating and a $40 price target. The stock was changing hands near $36 a share on Monday, in a 52-week range of $24.00 to $36.96.
Planet Fitness Inc. (NYSE: PLNT): Roth Capital upgraded the stock to Buy rating Neutral and has a $100 price target. The stock traded near $75 on Monday, in a 52-week range of $52.68 to $90.34. Its consensus price target is $83.07.
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Fortunes were made on GameStop and a host of other meme stocks, and the question now is who is next. Five stocks could very well fit the bill, and they all have Buy ratings from Wall Street analysts.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
