Earnings Season Winding Down: Analysts Upgrade or Downgrade Mastercard, PayPal, Rackspace, Snowflake and More

Investing

Published: August 16, 2022 2:02 pm

Markets pushed higher on Tuesday afternoon after a fairly slow start to the day. The Dow Jones Industrial Average was leading the charge higher, up nearly 1%. The S&P 600 was lagging, up only 0.4%, while the Nasdaq was holding just barely positive.

This move by the Dow was precipitated by earnings at Walmart on Tuesday morning. Overall, the world’s largest retailer was cautiously optimistic on the American consumer but noted that there were some behavioral changes as a result of inflation.

As earnings season is winding down markets are apparently finding a direction, which is ultimately positive. For the past four consecutive weeks, the S&P 500 has posted gains and after days like today, there’s an bullish case going forward.

24/7 Wall St. is reviewing additional analyst calls seen on Tuesday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Bed Bath & Beyond, Etsy, Truist Financial and more.

Coupang, Inc. (NYSE: CPNG): CLSA downgraded to a Sell rating from Outperform with a $16.40 price target. The 52-week trading range is $8.98 to $33.95, and shares were trading near $18 on Tuesday.

Imperial Oil Ltd. (NYSE: IMO): TD Securities downgraded to a Hold rating from Buy. The stock traded near $45 on Tuesday, in a 52-week range of $23.94 to $57.89.

Mastercard Inc. (NYSE: MA): Daiwa Securities downgraded to a Neutral rating from Outperform and cut the price target to $375 from $385. The stock traded at around $358 on Tuesday. The 52-week range is $303.65 to $399.92 a share.

Park Hotels & Resorts Inc. (NYSE: PK): BMO Capital Markets downgraded to a Market Perform rating from Outperform and cut the price target to $18 from $21. The 52-week trading range is $12.90 to $21.62, and the share price was near $16 on Tuesday.

Public Storage (NYSE: PSA): Raymond James downgraded to an Outperform rating from Strong Buy and raised the price target to $380 from $365. Shares have traded as high as $421.76 in the past year but were near $352 on Tuesday, which is down 1% year to date.

PayPal Holdings, Inc. (NASDAQ: PYPL): Daiwa Securities upgraded to an Outperform rating from Neutral and raised the price target to $116 from $85. The 52-week trading range is $67.58 to $296.70. Shares changed hands near $102 apiece on Tuesday.

Rackspace Technology, Inc. (NASDAQ: RXT): JPMorgan downgraded to an Underweight rating from Neutral and cut the price target to $5 from $7. The 52-week trading range is $5.40 to $18.50, and shares traded near $5 apiece on Tuesday.

Snowflake Inc. (NYSE: SNOW): UBS downgraded to a Neutral rating from Buy and raised the price target to $175 from $165. The shares traded near $164 on Tuesday. The 52-week trading range is $110.26 to $405.00.

Visa Inc. (NYSE: V): Daiwa Securities downgraded to a Neutral rating from Outperform and cut the price target to $225 from $230. Shares traded near $216 on Tuesday, in a 52-week range of $185.91 to $236.96.

Zoom Video Communications, Inc. (NASDAQ: ZM): Citigroup downgraded to a Sell rating from Neutral with a $91 price target. The shares traded near $108 on Tuesday. The 52-week trading range is $79.03 to $357.93.

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