We’re right in the middle of earnings season and Thursday, May 8 is a busy one. With hundreds of companies expected to report results after the market closes today, here is what Wall Street is expecting from 10 of the most anticipated companies releasing their financials today.
The Trade Desk (TTD): Digital advertising platform The Trade Desk (NASDAQ:TTD | TTD Price Prediction) is expected to report revenue of $575.28 million with $0.25 per share in earnings. The 31 analysts covering TTD have a buy rating on the stock and a $100.84 per share price target, implying 74.5% upside from its current $58.81 per share price.
Coinbase Global (COIN): Online cryptocurrency marketplace Coinbase Global (NASDAQ:COIN) is forecast to post $1.91 per share in earnings on revenue of $2.09 billion. The 20 analysts following COIN rate its stock a buy with a $285.95 per share target, or 39.2% higher than its current $205.40 per share level.
MARA Holdings (MARA): Bitcoin miner MARA Holdings (NASDAQ:MARA) has a hold rating from the 10 analysts covering it, but a $20.50 per share price target, suggesting 47.5% upside in MARA stock. Wall Street anticipates $217.59 million in revenue from the miner, generating $0.72 per share in earnings.
RocketLab USA (RKLB): The second-most successful space company behind SpaceX, RocketLab USA (NASDAQ:RKLB) is expected to report $121.37 million in revenue and losses of $0.09 per share. A baker’s dozen of analysts rate RKLB a buy with a one-year consensus price target of $23.25 per share, implying 3.8% upside in the stock from its current price of $22.41 per share.
Cloudflare (NET): Cybersecurity outfit Cloudflare (NYSE:NET) is forecast to post $0.16 per share in profits on $469.7 million in revenue. The 25 analysts following NET stock have a consensus hold rating with a $137.70 per share one-year price target, or 11.6% above its $123.37 per share level.
SoundHound AI (SOUN): AI-assisted voice recognition expert SoundHound AI (NASDAQ:SOUN) will come in with revenue of $30.38 million and losses of $0.06 per share, according to the seven analysts covering SOUN. There is a consensus hold rating on the stock, but they also assigned it a one-year price target 31.5%, or $12.43 per share, above its current level of $9.45 per share.
DraftKings (DKNG): Online betting platform DraftKings (NASDAQ:DKNG) is a buy, according to the 28 analysts following DKNG, with a $55.18 per share price target. That implies 58.9% upside from its $34.72 current price. They are looking for revenue of $1.43 billion and profits of $0.12 per share.
Affirm (AFRM): Buy now, pay later specialist Affirm (NASDAQ:AFRM) is followed by 23 analysts who have a $67 per share one-year price target on it, or 23.1% more than $54.42 per share level it currently trades at. Revenue of $782.96 million with per-share earnings of $0.32 is expected.
Wolfspeed (WOLF): Silicon carbide chipmaker Wolfspeed (NYSE:WOLF) is trading at $4.25 per share, but the 13 analysts following WOLF stock peg its one year price target at $12.17 per share, implying 186.3% upside. Yet there is a consensus hold rating on the stock. They foresee a 7.4% decline in revenue to $185.77 million with losses of $0.82 per share, narrower than the $0.89 per share loss last year.
Innodata (INOD): Innodata (NASDAQ:INOD) makes software to prepare company data for AI applications. Wall Street expects the company to report revenue of $57.6 million and earnings of $0.18 per share. The lightly covered stock — only five analysts follow it — rate the stock a buy (it’s unanimous) and have set a one-year price target of $53 per share, implying INOD can jump 36% from its current $38.97 per share price.
Conclusion
As noted, the news feeds will be flooded with earnings reports today and the market will be volatile before and after their release. These 10 stocks all have tremendous upside potential — an average of 51.2% — even though not all the stocks have buy ratings from analysts, even amongst those with the biggest forecasted price target gains.
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