Thursday's Top Analyst Upgrades and Downgrades: Canopy Growth, Cleveland-Cliffs, Datadog, Electronic Arts, Palo Alto Networks, Peloton, Snowflake, SoFi and More

Resideo Technologies Inc. (NYSE: REZI): Imperial Capital downgraded the stock to In line from Outperform, and it has a $27 price target. The consensus target is $30.50. The shares ended Wednesday at $15.83, down a stunning 32% after missing estimates and giving lower guidance for the year.

Semler Scientific Inc. (NASDAQ: SMLR): The B. Riley Securities downgrade to Neutral from Buy included a target price cut to $45 from $60. The consensus target is $62.50 for now. The stock closed Wednesday at $28.01, down a massive 35% after reporting disappointing results for the quarter.

ServiceNow Inc. (NASDAQ: NOW): Macquarie resumed coverage with an Outperform rating and a $500 target price. The consensus target is up at $534.81. The stock closed on Wednesday down 6% at $392.68.

Silicon Motion Technology Corp. (NASDAQ: SIMO): Needham upgraded its Hold rating to Buy with a $75 target price. The consensus target is $104.38. The stock closed almost 4% higher on Wednesday at $58.58, despite missing earnings and revenue estimates.

Snowflake Inc. (NYSE: SNOW): Macquarie started coverage with a Neutral rating and a $173 target price. The consensus target is up at $219.88. Wednesday’s $147.75 close down over 7% on the day.

SoFi Technologies Inc. (NASDAQ: SOFI): Goldman Sachs lowered its $8.50 price target to $7.50 and kept a Neutral rating. The consensus target is $8.21. The stock closed over 10% lower on Wednesday at $5.12.

Universal Logistics Inc. (NASDAQ: ULH): The downgraded at Stifel was from Buy to Hold with a $36 target price. The consensus target is $36.50 for now. Wednesday’s close at $32.10 was down over 7% for the day on no news we could source other than a weak day for stocks.

XPO Logistics Inc. (NYSE: XPO): Goldman Sachs slashed its $81 target price to $40 but maintained a Buy rating. The consensus target is $70.39. The stock ended Wednesday trading at $31.90.

ZoomInfo Technologies Inc. (NASDAQ: ZI): Goldman Sachs reiterated a Buy rating but lowered its $62 target price to $54. The consensus target is $63.08. Wednesday’s close at $30.81 was down 30% on the day after the company cut its free-cash-flow forecast.

Six top financial institutions in the Berkshire Hathaway portfolio likely are applauding the Federal Reserve’s latest increase in the federal funds rate as it means more earnings for them. These Warren Buffet stocks also come with solid dividends and are rated Buy across Wall Street.

Wednesday’s early top analyst upgrades and downgrades included AppLovin, Arista Networks, Charles Schwab, First Solar, Global Payments, Halliburton, Monster Beverage, NXP Semiconductor, QuantumScape, Union Pacific and Welltower. Analyst calls seen later in the day were on CrowdStrike, Ecolab, KKR, Microsoft, Tilray Brands, Twilio and more.

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