Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.
The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.
Alibaba Group Holding Ltd - ADR BABA shares are trading higher during Thursday’s morning session after Alibaba reported fourth-quarter FY21 revenue growth of 9% year-on-year to $32.19 billion, beating the consensus estimate of $29.94 billion. Non-GAAP earnings per ADS of $1.25 beat the consensus of $1.10.
Baird analyst Colin Sebastian maintained Alibaba with a Buy rating and lowered the price target from $160 to $144.
NVIDIA Corporation NVDA shares are trading lower during Thursday’s morning session after the tech giant said first-quarter revenue grew 46% year-over-year but issued guidance below analyst consensus. Nvidia said it expects second-quarter revenue of $8.1 billion, plus or minus 2%, versus the estimate of $8.45 billion.
Keybanc analyst John Vinh maintained Nvidia with an Overweight rating and lowered the price target from $310 to $250.
Baidu Inc BIDU shares traded higher during Thursday’s premarket session after Baidu reported first-quarter FY22 revenue growth of 1% year-on-year to $4.48 billion, beating the consensus of $4.18 billion.
JPMorgan analyst Alex Yao upgraded Baidu to a Hold rating and raised the price target from $90 to $125.
Snowflake Inc SNOW shares plummeted over 10% on Thursday morning after the company reported financial results and issued second-quarter guidance below analyst estimates.
Snowflake said it expects fiscal second-quarter revenue to be between $435 million and $440 million versus the estimate of $466.15 million. The company expects full-year 2023 revenue to be between $1.885 billion and $1.9 billion versus the $2.03 billion estimates.
Piper Sandler analyst Brent Bracelin maintained Snowflake with an Overweight rating and lowered the price target from $300 to $165.
Broadcom Inc AVGO shares are near flat on Thursday morning as investors have yet to respond to Broadcom’s announcement that it would acquire Vmware Inc VMW in a cash-and-stock transaction that values the multi-cloud company at approximately $61 billion.
Truist Securities analyst William Stein maintained Broadcom with a Strong Buy rating and lowered the price target from $686 to $657.
Macy's Inc M shares flew 15% higher on Thursday morning after the company reported first-quarter sales growth of 13.6% year-on-year to $5.35 billion, beating the Street estimates of $5.33 billion. Macy’s also issued second-quarter guidance above Street expectations.
JPMorgan analyst Matthew Boss maintained Macy’s with a Hold rating and lowered the price target from $33 to $30.
GameStop Corp. GME shares are flat Thursday morning after GameStop committed to major discounts for Sony Group Corp’s SONY PlayStation “Days of Play” event. On offer are GameStop discounts on select PlayStation 4 and 5 games such as “Uncharted: Legacy of Thieves” and “MLB The Show 22.”
Twitter Inc TWTR shares popped 4% higher Thursday morning after Elon Musk said he committed an additional $6.25 billion in equity financing to fund a portion of the acquisition of the social media platform.
Jeffries analyst Brent Thill maintained Twitter with a Hold rating and lowered the price target from $48 to $40.
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