Ontrak Inc. (NASDAQ: OTRK): Cowen downgraded the stock to Underperform from Market Perform and slashed the target price to $9 from $35. B. Riley Securities also downgraded the shares, to Neutral from Buy, and has a $15 target. The consensus price objective is $40. The shares were crushed Thursday, closing down almost 45% to $11.68. The selling continued in the premarket, as the stock was down an additional 8%.
Pinnacle West Capital Corp. (NYSE: PNW): Goldman Sachs downgraded the shares to Sell from Neutral and dropped the price target to $73 from $85. The consensus target is $82.62. Thursday’s closing trade was at $80.08.
SAP S.E. (NYSE: SAP): Oppenheimer resumed coverage of the German technology giant with an Outperform rating and a $155 price target. The consensus target is just $132.06. The final trade on Thursday was reported at $147.02 a share.
ServiceNow Inc. (NYSE: NOW): Oppenheimer resumed coverage with an Outperform rating and lifted the price target to $700 from $610. This compares with the lower consensus price objective of $651.29 and Thursday’s final price of $586.92 per share.
Shopify Inc. (NYSE: SHOP): This e-commerce stock was selected as Bull of the Day at Zacks. The analyst suggested that Shopify shined long before the pandemic forced more businesses and shoppers down the e-commerce route, plus it posted another strong quarter at the end of July and its outlook remains impressive. Shares closed most recently at $1,466.11 and have a consensus price target of $1,670.84.
Workday Inc. (NASDAQ: WDAY): Oppenheimer resumed coverage of the stock with an Outperform rationing and a $285 price target. The consensus target is $283.15. The stock was last seen on Thursday at $231.90.
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Thursday’s early top analyst upgrades and downgrades included Applied Materials, Bill.com, Brinker, Illumina, McAfee, Nvidia, Nasdaq, SeaWorld, Target and Weibo. Analyst calls seen later in the day were on Apple, Autodesk, Beazer Homes and more.