Investing

Thursday's Top Analysts Upgrades and Downgrades: Caesars, Chevron, Exxon, Gap, Ginkgo Bioworks, Home Depot, New York Mortgage Trust, Novavax, NOV, SoFi and More

New York Mortgage Trust Inc. (NASDAQ: NYMT): Keefe Bruyette upgraded the stock from Market Perform to Outperform with a $4.50 target price. The consensus target is $4.63. The shares closed on Wednesday at $3.43. Note that the company is a real estate investment trust that pays a huge 11.53% dividend.

Novavax Inc. (NASDAQ: NVAX): B. Riley Securities kept a Buy rating but slashed the $315 target price to $265. The $215 consensus target is much lower, but the last trade for Wednesday came in at $73.49, after retreating over 7% for the day.

NOV Inc. (NYSE: NOV): Goldman Sachs downgraded the shares from Hold to Sell with a $16 target price. The consensus target is $16.05. The shares closed at $17.17 on Wednesday.

Palo Alto Networks Inc. (NASDAQ: PANW): JPMorgan raised its Underweight rating to Neutral and lifted the target price to $620 from $600. The consensus target for the cybersecurity heavyweight is $616.02. The stock closed on Wednesday at $477.61.

RingCentral Inc. (NYSE: RNG): Goldman Sachs kept a Buy rating on the stock but slashed the target price to $205 from $240. The consensus target is up at $306.32. The stock closed Wednesday at $124.04, down 16% on the day.

Similarweb Ltd. (NYSE: SMWB): Barclays upgraded the shares to Overweight from Equal Weight and has a $22 target price. The consensus is set at $25.20, and the stock closed Wednesday at $12.51.

SoFi Technologies Inc. (NASDAQ: SOFI): Goldman Sachs trimmed its price target to $14 from $16 while keeping a Neutral rating on the shares. The consensus target is $18.50. The stock closed Wednesday at $9.82, down over 4% for the day.


BofA Securities has a list of tech stocks that feature high one-year return on equity, solid relative strength numbers, high earnings-per-share revisions and high free cash flow/enterprise value metrics. Five of those stocks also pay solid and dependable dividends.

Wednesday’s early top analyst upgrades and downgrades included Bloomin’ Brands, ChargePoint, Clorox, Cloudflare, Intel, Novavax, Owens Corning, Palo Alto Networks and PPL. Analyst calls seen later in the day were on Altice, Dollar Tree, Macy’s, Marathon Oil and more.

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