Investing

8 Stocks Getting Multiple Analyst Upgrades and Downgrades After Earnings and News

Chris Lange

Published: February 22, 2018 4:13 pm

Last Updated: January 12, 2020 3:08 am

After looking through the flow of daily analyst upgrades and downgrades, it turns out that during earnings season there are almost always a few companies scoring multiple analyst upgrades and seeing price target hikes. 24/7 Wall St. reviews dozens of analyst calls each day, and we have selected several stocks that posted significant moves on the day.

Not all these stocks are trading higher, but most were up on the news despite another down day in the equity markets. We have included trading data and some reference to its trading history, as well as named several firms issuing upgrades or price target hikes.

24/7 Wall St. has included a montage of companies that are seeing multiple upgrades and downgrades on the analyst front as a result of news or earnings.

Applied Optoelectronics Inc. (NASDAQ: AAOI) reported its fourth-quarter results after the markets closed on Wednesday. The company posted $0.89 in earnings per share (EPS) on $79.9 million, which compares to consensus estimates that were calling for $0.82 in EPS on $86.2 million in revenue. Here’s what analysts said after the fact:

• Cowen cut its price target to $53 from $60.
• Craig Hallum downgraded it to Sell from Hold and cut its target to $17 from $32.
• D.A. Davidson has a Buy rating and cut its price target to $55.
• Piper Jaffray lowered its price target to $30 from $40.
• Raymond James cut its price target to $50 from $76.

Shares of Applied Optoelectronics were last seen down about 21% at $27.08, with a consensus analyst price target of $46.65 and a 52-week trading range of $26.12 to $103.41.

Boston Beer Co. (NYSE: SAM) released its most recent earnings report before the markets opened on Thursday. The company posted $0.84 in EPS on $206.3 million in revenue, versus consensus estimates of $0.94 in EPS. Analysts weighed in on the firm:

• Credit Suisse raised its price target to $172 from $160.
• Jefferies raised its price target from $175 to $178.
• Susquehanna cut its price target to $194 from $198.

Shares of Boston Beer were last seen down about 12% at $170.20, with a consensus price target of $173.75 and a 52-week range of $128.70 to $202.35.

Everbridge Inc. (NASDAQ: EVBG) reported its fourth-quarter results after the markets closed on Wednesday. The company said that it had a net loss of $0.02 per share on $29.2 million in revenue. The consensus estimates had forecast a net loss of $0.02 per share and $28.5 million in revenue. A few analysts commented on Everbridge:

• Canaccord Genuity has a Buy rating and raised its price target to $40 from $33.
• Credit Suisse raised its price target from $37 to $38.
• Northland Capital raised its target price to $37 from $35.
• Raymond James raised its price target to $38 from $31.
• Stifel raised its price target to $38 from $33.

Shares of Everbridge were last seen down 4% at $31.78, with a consensus price target of $32.78 and a 52-week range of $16.63 to $34.59.

Insulet Corp. (NASDAQ: PODD) released its most recent earnings report after the markets closed on Wednesday. The company posted a net loss of $0.12 per share on $130.5 million in revenue, while consensus estimates had called for a net loss of $0.08 per share on $125.3 million in revenue. Analysts weighed in on the firm:

• Canaccord Genuity raised its price target to $88 from $78.
• Cowen raised its price target to $90 from $80.
• Jefferies lifted its price target to $90 from $67.
• JPMorgan has a Neutral rating and raised its target to $72 from $60.
• Leerink raised its price target from $86 to $97.
• Morgan Stanley raised its target price to $87 from $76.
• Northland Capital raised its price target to $100.
• Raymond James raised its price target to $90 from $80.

Shares of Insulet were last seen up over 3% at $80.53, with a consensus price target of $75.69 and a 52-week range of $38.43 to $83.56.

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MindBody Inc. (NASDAQ: MB) reported its fourth-quarter results after the markets closed on Wednesday. The company said that it had $0.03 in EPS on $49.7 million in revenue. The consensus estimates were $0.01 in EPS and $48.9 million in revenue. Analysts had this to say about MindBody after earnings:

• Craig-Hallum raised its price target from $32 to $40.
• Credit Suisse raised its price target to $36 from $33.
• D.A. Davidson cut its price target to $40 from $42.
• Jefferies has a Buy rating and raised its target to $41 from $40.
• JPMorgan has an Overweight rating and raised its target from $38 to $40.

Shares of MindBody were last seen up 6.5% at $35.50, with a consensus price target of $37.95 and a 52-week range of $21.57 to $37.25.

Pandora Media Inc. (NYSE: P) released its most recent quarterly results after markets closed Wednesday. The company said that it had a net loss of $0.21 per share on $395.3 million in revenue, compared with consensus estimates from Thomson Reuters that called for a net loss of $0.07 per share on $376.43 million in revenue. The fourth quarter of last year had a net loss of $0.13 per share and $392.6 million in revenue. Analysts had this to say about the online music streamer after the report:

• Canaccord Genuity has a Buy rating and cut its price target to $8 from $11.
• Credit Suisse cut its price target to $5 from $6.
• JPMorgan has a Neutral rating and cut its target to $8 from $9.
• RBC cut its price target from $8 to $6.
• Wedbush cut its target price to $8 from $12.

Shares of Pandora were down about 7% at $4.52, with a consensus price target of $7.88 and a 52-week range of $4.09 to $13.36.

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Roku Inc. (NASDAQ: ROKU) reported fourth-quarter and full fiscal year 2017 results after markets closed Wednesday afternoon. The streaming media device maker posted diluted pro forma EPS of $0.06 on net sales of $188.26 million. Fourth-quarter results compare to consensus estimates for an EPS loss of $0.10 and $182.54 million in sales. The fourth quarter was Roku’s first as a publicly traded company. Here’s what analysts said after the fact:

• Morgan Stanley raised its price target to $32 from $30.
• RBC raised its price target to $45 from $28.
• Citigroup maintained its Sell rating but raised its target to $33 from $28.

Shares of Roku were down about 17% at $42.37, with a consensus analyst target of $32.80 and a 52-week range of $15.75 to $58.80.

SailPoint Technologies Holdings Inc. (NYSE: SAIL) released its most recent quarterly results after the markets closed on Wednesday. The company said that it had $0.03 in EPS on $67.8 million in revenue, compared with consensus estimates that called for EPS of $0.08 and $55.6 million in revenue. Analysts commented:

• Canaccord Genuity raised its target price to $17 from $15
• Jefferies has a Buy rating and raised its target to $23 from $18.
• Morgan Stanley raised its price target from $16 to $19.
• Oppenheimer raised its price target from $20 to $24.
• RBC raised its price target to $21 from $18.

Shares of SailPoint were last seen up about 12% at $19.99. The consensus price target is $18.38, and the 52-week range is $12.82 to $25.04.