Benzinga's Top Ratings Upgrades, Downgrades For September 1, 2022

Upgrades

For iQIYI Inc (NASDAQ:IQ), UBS upgraded the previous rating of Neutral to Buy. For the second quarter, iQIYI had an EPS of $0.01, compared to year-ago quarter EPS of $0.27. At the moment, the stock has a 52-week-high of $5.77 and a 52-week-low of $1.86. iQIYI closed at $3.66 at the end of the last trading period.

CLSA upgraded the previous rating for Futu Holdings Ltd (NASDAQ:FUTU) from Sell to Underperform. Futu Holdings earned $0.61 in the second quarter, compared to $0.45 in the year-ago quarter. The stock has a 52-week-high of $57.76 and a 52-week-low of $21.23. At the end of the last trading period, Futu Holdings closed at $49.09.

According to JP Morgan, the prior rating for Futu Holdings Ltd (NASDAQ:FUTU) was changed from Neutral to Overweight. For the second quarter, Futu Holdings had an EPS of $0.61, compared to year-ago quarter EPS of $0.45. The stock has a 52-week-high of $57.76 and a 52-week-low of $21.23. At the end of the last trading period, Futu Holdings closed at $49.09.

According to JP Morgan, the prior rating for Baidu Inc (NASDAQ:BIDU) was changed from Neutral to Overweight. In the second quarter, Baidu showed an EPS of $2.36, compared to $2.39 from the year-ago quarter. At the moment, the stock has a 52-week-high of $171.87 and a 52-week-low of $101.62. Baidu closed at $143.97 at the end of the last trading period.

See all analyst ratings upgrades.

Downgrades

For VNET Group Inc (NASDAQ:VNET), Credit Suisse downgraded the previous rating of Outperform to Neutral. In the second quarter, VNET Gr showed an EPS of $0.36, compared to $0.06 from the year-ago quarter. At the moment, the stock has a 52-week-high of $10.29 and a 52-week-low of $3.51. VNET Gr closed at $5.35 at the end of the last trading period.

According to Loop Capital, the prior rating for HP Inc (NYSE:HPQ) was changed from Buy to Hold. In the third quarter, HP showed an EPS of $1.04, compared to $1.00 from the year-ago quarter. The stock has a 52-week-high of $41.47 and a 52-week-low of $28.67. At the end of the last trading period, HP closed at $28.71.

According to Oppenheimer, the prior rating for Semtech Corp (NASDAQ:SMTC) was changed from Outperform to Perform. For the second quarter, Semtech had an EPS of $0.87, compared to year-ago quarter EPS of $0.65. At the moment, the stock has a 52-week-high of $92.14 and a 52-week-low of $45.34. Semtech closed at $46.19 at the end of the last trading period.

For Liquidia Corp (NASDAQ:LQDA), Wedbush downgraded the previous rating of Neutral to Underperform. Liquidia earned $0.15 in the second quarter, compared to $0.13 in the year-ago quarter. The stock has a 52-week-high of $8.79 and a 52-week-low of $3.26. At the end of the last trading period, Liquidia closed at $5.77.

Morgan Stanley downgraded the previous rating for Okta Inc (NASDAQ:OKTA) from Overweight to Equal-Weight. In the second quarter, Okta showed an EPS of $0.10, compared to $0.11 from the year-ago quarter. At the moment, the stock has a 52-week-high of $226.49 and a 52-week-low of $77.01. Okta closed at $91.40 at the end of the last trading period.

According to Needham, the prior rating for Okta Inc (NASDAQ:OKTA) was changed from Buy to Hold. Okta earned $0.10 in the second quarter, compared to $0.11 in the year-ago quarter. The stock has a 52-week-high of $226.49 and a 52-week-low of $77.01. At the end of the last trading period, Okta closed at $91.40.

Cowen & Co. downgraded the previous rating for Semtech Corp (NASDAQ:SMTC) from Outperform to Market Perform. Semtech earned $0.87 in the second quarter, compared to $0.65 in the year-ago quarter. At the moment, the stock has a 52-week-high of $92.14 and a 52-week-low of $45.34. Semtech closed at $46.19 at the end of the last trading period.

For Molson Coors Beverage Co (NYSE:TAP), Bryan Garnier downgraded the previous rating of Buy to Sell. In the second quarter, Molson Coors Beverage showed an EPS of $1.19, compared to $1.58 from the year-ago quarter. The stock has a 52-week-high of $60.12 and a 52-week-low of $46.47. At the end of the last trading period, Molson Coors Beverage closed at $51.67.

According to Canaccord Genuity, the prior rating for Okta Inc (NASDAQ:OKTA) was changed from Buy to Hold. In the second quarter, Okta showed an EPS of $0.10, compared to $0.11 from the year-ago quarter. The stock has a 52-week-high of $226.49 and a 52-week-low of $77.01. At the end of the last trading period, Okta closed at $91.40.

For Western Digital Corp (NASDAQ:WDC), Benchmark downgraded the previous rating of Hold to Sell. In the fourth quarter, Western Digital showed an EPS of $1.78, compared to $2.16 from the year-ago quarter. At the moment, the stock has a 52-week-high of $69.36 and a 52-week-low of $41.63. Western Digital closed at $42.26 at the end of the last trading period.

For Seagate Technology Holdings PLC (NASDAQ:STX), Benchmark downgraded the previous rating of Buy to Hold. For the fourth quarter, Seagate Tech Hldgs had an EPS of $1.59, compared to year-ago quarter EPS of $2.00. The stock has a 52-week-high of $117.67 and a 52-week-low of $65.10. At the end of the last trading period, Seagate Tech Hldgs closed at $66.96.

See all analyst ratings downgrades.

Initiations

Citigroup initiated coverage on Workday Inc (NASDAQ:WDAY) with a Neutral rating. The price target for Workday is set to $186.00. Workday earned $0.83 in the second quarter, compared to $1.23 in the year-ago quarter. The stock has a 52-week-high of $272.50 and a 52-week-low of $134.10. At the end of the last trading period, Workday closed at $164.56.

Citigroup initiated coverage on Expensify Inc (NASDAQ:EXFY) with a Buy rating. The price target for Expensify is set to $25.00. At the moment, the stock has a 52-week-high of $44.55 and a 52-week-low of $13.58. Expensify closed at $18.13 at the end of the last trading period.

Citigroup initiated coverage on Workiva Inc (NYSE:WK) with a Buy rating. The price target for Workiva is set to $86.00. In the second quarter, Workiva showed an EPS of $0.17, compared to $0.07 from the year-ago quarter. The stock has a 52-week-high of $131.91 and a 52-week-low of $59.43. At the end of the last trading period, Workiva closed at $67.89.

Citigroup initiated coverage on Asana Inc (NYSE:ASAN) with a Neutral rating. The price target for Asana is set to $23.00. For the first quarter, Asana had an EPS of $0.30, compared to year-ago quarter EPS of $0.21. At the moment, the stock has a 52-week-high of $76.93 and a 52-week-low of $16.19. Asana closed at $19.15 at the end of the last trading period.

See all analyst ratings initiations.

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