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Wells Fargo analyst Will Gaertner maintains Under Armour (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAA#NYSE">UAA</a>) with a Equal-Weight and lowers the price target from $7 to $6.

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Wells Fargo Maintains Equal-Weight on Under Armour, Lowers Price Target to $6

BMO Capital analyst Michael Markidis maintains SMARTCENTRES REAL ESTATE INVESTMENT (TSX:<a class="ticker" href="https://www.benzinga.com/stock/SRU#TSX">SRU</a>) with a Market Perform and lowers the price target from C$24.5 to C$23.5.

TSX:SRU

BMO Capital Maintains Market Perform on SMARTCENTRES REAL ESTATE INVESTMENT, Lowers Price Target to C$23.5

Wells Fargo analyst Ike Boruchow maintains Canada Goose Hldgs (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GOOS#TSX">GOOS</a>) with a Equal-Weight and raises the price target from C$16 to C$19.

TSX:GOOS

Wells Fargo Maintains Equal-Weight on Canada Goose Hldgs, Raises Price Target to C$19

The Hong Kong Securities and Futures Commission (SFC) has issued a warning about a<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880561/ontarios-crypto-king-aiden-pleterski-arrested-for-alleged-investment-fraud"> fraudulent cryptocurrency trading</a> platform called "Quantum AI," which utilizes deepfakes of Elon Musk to lure victims. 
This scam, though not new, underscores the growing use of artificial intelligence (AI) in committing fraud, particularly in Asia.
<h3 class="wp-block-heading">SFC Public Warning and Immediate Actions</h3>
On May 8, the SFC highlighted the deceptive nature of Quantum AI, which promises "too-good-to-be-true" returns, the South China Morning Post <a href="https://www.scmp.com/tech/tech-trends/article/3262919/elon-musk-deepfake-crypto-scam-highlights-risks-hong-kong-ai-related-fraud-rises?utm_source=rss_feed">reported</a>.
The regulator has requested the Hong Kong Police Force to block access to related websites and social media pages. As of this week, the associated domains were inaccessible, and the Facebook groups promoting the scam have been removed.
<h3 class="wp-block-heading">Rise of Deepfake-Related Fraud In Asia</h3>
Hong Kong has witnessed several deepfake-related fraud incidents, prompting government vigilance.
According to identity verification platform Sumsub, deepfake incidents in the Asia-Pacific region surged by 1,530% last year, with Vietnam and Japan experiencing the highest number of attacks.
Penny Chai, Sumsub's vice-president of business development in APAC, stated, "Thanks to increasing digital financial transactions in the emerging Asia market, there is a larger pool for deepfake targets. Since a high volume of instant cross-border transactions takes place in the region, especially in Hong Kong, deepfake scammers can leverage the complexity and volume of financial dealings to carry out fraudulent activities."
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38892850/donald-trumps-election-odds-just-spiked-to-51-according-to-this-crypto-prediction-market">Donald Trump&#8217;s Election Odds Just Spiked To 51% According To This Crypto Prediction Market</a>
<h3 class="wp-block-heading">History And Evolution Of The Quantum AI Scam</h3>
The Quantum AI scam has been around for at least a year, evolving with various iterations to target different groups. 
One notable instance involved a deepfake video on Facebook featuring Musk and Jack Ma, co-founder of Alibaba Group Holding. 
This video was debunked by PolitiFact and traced back to a 2019 World AI Conference in Shanghai where Musk and Ma appeared together.
Another variation involved modifying footage from Elon Musk&#8217;s appearance on the Fox News show hosted by Tucker Carlson, according to Reuters Fact Check.
<h3 class="wp-block-heading">Addressing The Growing Threat</h3>
The scam websites often use cheap hosting providers and flexible back-end technologies like WordPress. 
A top search result for Quantum AI misleadingly advises users to deposit a minimum of $250, warning them to "invest only what you're okay with losing completely."
The alarming rise of AI-driven fraud, particularly through deepfakes, highlights the need for increased vigilance and regulatory measures in the digital financial landscape. 
The evolving nature of such scams necessitates continuous monitoring and public awareness.
The implications of AI and digital fraud will be a key topic at Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38892524/blackrock-fidelity-lead-257m-bitcoin-etf-surge-as-analysis-predicts-74-000-comeback">BlackRock, Fidelity Lead $257M Bitcoin ETF Surge, As Analysis Predicts $74,000 Comeback</a>
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Elon Musk Deepfake Scam Used To Promote Fraudulent Crypto Trading Platform, Hong Kong's Financial Regulator Warns

BMO Capital analyst Keith Bachman maintains DXC Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXC#NYSE">DXC</a>) with a Market Perform and lowers the price target from $23 to $17.5.

BMO Capital Maintains Market Perform on DXC Technology, Lowers Price Target to $17.5

Thursday, the FDA approved&nbsp;Amgen&nbsp;Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) Imdelltra (tarlatamab-dlle) for the treatment of adult patients with extensive-stage small cell lung cancer (ES-SCLC) with disease progression on or after&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/n38886651/fda-approves-imdelltra-tarlatamab-dlle-the-first-and-only-t-cell-engager-therapy-for-the-treatment" rel="noreferrer noopener">platinum-based chemotherapy</a>.&nbsp;
Imdelltra has received accelerated approval based on the response rate and duration of response (DoR) observed in clinical studies.&nbsp;
Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s).
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38617572/amgen-outlook-is-bright-analyst-predict-obesity-focused-drug-potential-will-drive-s" rel="noreferrer noopener">Amgen Outlook Is Bright, Analyst Predict Obesity-Focused Drug Potential Will Drive Shareholder Value</a>.
&#8220;Less than 3% of patients with ES-SCLC live longer than five years,&#8221; said&nbsp;David Carbone, professor of internal medicine and director of the James Thoracic Oncology Center at the&nbsp;Ohio State University&nbsp;Medical Center.&nbsp;
Imdelltra is the first&nbsp;and only&nbsp;DLL3-targeting Bispecific T-cell Engager therapy that activates the patient&#8217;s T cells to attack DLL3-expressing tumor cells.
The FDA accelerated approval of Imdelltra is based on results from the Phase 2 DeLLphi-301 clinical trial&nbsp;that&nbsp;evaluated Imdelltra in patients with SCLC who had failed two or more prior lines of treatment,&nbsp;and who had received the 10 mg every two weeks dosing (Q2W) regimen.&nbsp;
The&nbsp;study&#8217;s results&nbsp;found that Imdelltra at the 10 mg Q2W dose (N=99) demonstrated an objective response rate (ORR) of 40% and a median DoR of 9.7 months.
The median overall survival (mOS) was 14.3 months, with final and complete survival data yet to mature.
The Imdelltra label includes a Boxed Warning for cytokine release syndrome and neurologic toxicity.
Price Action: AMGN shares traded lower by 0.94% at $311.75 at last check Friday.
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AMGN

FDA Gives Accelerated Approval To Amgen's Drug For Small Cell Lung Cancer Patients

During the last three months, 7 analysts shared their evaluations of Tanger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), revealing diverse outlooks from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Tanger, revealing an average target of $29.86, a high estimate of $33.00, and a low estimate of $28.00. This current average reflects an increase of 13.41% from the previous average price target of $26.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1715954472_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The perception of Tanger by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Greg McGinniss</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$28.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Floris Van Dijkum</td>
<td>Compass Point</td>
<td>Announces</td>
<td>Buy</td>
<td>$32.00</td>
<td>-</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>In-Line</td>
<td>$28.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Jeffrey Spector</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Neutral</td>
<td>$31.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Michael Bilerman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$33.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$29.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Samir Khanal</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$28.00</td>
<td>$27.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Tanger. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Tanger compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Tanger's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Tanger's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/SKT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Tanger analyst ratings.</a>
<h2>Delving into Tanger's Background</h2>
Tanger Inc is a leading owner and operator of outlet and open-air retail shopping destinations. Tanger's portfolio of 38 outlet centers and one open-air lifestyle center comprises over 15 million square feet well positioned across tourist destinations and vibrant markets in U.S. states and Canada.
<h3>Financial Milestones: Tanger's Journey</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Decline in Revenue: Over the 3 months period, Tanger faced challenges, resulting in a decline of approximately -3.22% in revenue growth as of 31 March, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Real Estate sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 17.98%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Tanger's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.95%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Tanger's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.96% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Tanger's debt-to-equity ratio is notably higher than the industry average. With a ratio of 2.8, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Decoding 7 Analyst Evaluations For Tanger

Providing a diverse range of perspectives from bullish to bearish, 17 analysts have published ratings on GitLab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) in the last three months.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">9</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated GitLab and provided 12-month price targets. The average target is $74.41, accompanied by a high estimate of $85.00 and a low estimate of $65.00. This current average has decreased by 5.7% from the previous average price target of $78.91. 
<img src="https://www.benzinga.com/files/images/story/2024/1715954464_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of GitLab's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Buy</td>
<td>$70.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Adam Tindle</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$70.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Turrin</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Overweight</td>
<td>$70.00</td>
<td>-</td>
</tr>
<tr>
<td>Joel Fishbein</td>
<td>Truist Securities</td>
<td>Maintains</td>
<td>Buy</td>
<td>$80.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Announces</td>
<td>Overweight</td>
<td>$70.00</td>
<td>-</td>
</tr>
<tr>
<td>Peter Weed</td>
<td>Bernstein</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$74.00</td>
<td>$76.00</td>
</tr>
<tr>
<td>Allan Verkhovski</td>
<td>Wolfe Research</td>
<td>Announces</td>
<td>Outperform</td>
<td>$75.00</td>
<td>-</td>
</tr>
<tr>
<td>Matthew Hedberg</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$80.00</td>
<td>-</td>
</tr>
<tr>
<td>Gil Luria</td>
<td>DA Davidson</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Karl Keirstead</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$75.00</td>
<td>$81.00</td>
</tr>
<tr>
<td>J. Derrick Wood</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$76.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Kingsley Crane</td>
<td>Canaccord Genuity</td>
<td>Maintains</td>
<td>Buy</td>
<td>$74.00</td>
<td>-</td>
</tr>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Buy</td>
<td>$75.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>Koji Ikeda</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$85.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Jonathan Ruykhaver</td>
<td>Cantor Fitzgerald</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$70.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Peter Weed</td>
<td>Bernstein</td>
<td>Raises</td>
<td>Outperform</td>
<td>$76.00</td>
<td>$71.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$80.00</td>
<td>$75.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to GitLab. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of GitLab compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of GitLab's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into GitLab's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/GTLB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on GitLab analyst ratings.</a>
<h2>About GitLab</h2>
GitLab Inc operates on an all-remote model. GitLab, a complete DevSecOps platform delivered as a single application. It operates in two competitive landscapes: DevOps point solutions and DevOps platforms. In terms of point solutions that are stitched together, GitLab's offering is substantially different in that it is one platform, one codebase, one interface, and a unified data model that spans the entire DevSecOps lifecycle. DevOps platforms, the principal competitor is Microsoft Corporation following their acquisition of GitHub. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. It is located in the United States, Europe, and Asia Pacific. It focused on accelerating innovation and broadening the distribution of its platform to companies across the world.
<h3>Key Indicators: GitLab's Financial Health</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: GitLab displayed positive results in 3 months. As of 31 January, 2024, the company achieved a solid revenue growth rate of approximately 33.25%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: GitLab's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of -22.27%, the company may face hurdles in effective cost management.
Return on Equity (ROE): GitLab's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -6.53%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): GitLab's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -2.87%, the company may face hurdles in achieving optimal financial returns.
Debt Management: GitLab's debt-to-equity ratio is below the industry average. With a ratio of 0.0, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

GTLB

Beyond The Numbers: 17 Analysts Discuss GitLab Stock

AKAM

Deep Dive Into Akamai Techs Stock: Analyst Perspectives (13 Ratings)

Across the recent three months, 7 analysts have shared their insights on Instructure Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INST#NYSE">INST</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $30.57, a high estimate of $32.00, and a low estimate of $28.00. This current average represents a 4.47% decrease from the previous average price target of $32.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1715954444_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The perception of Instructure Hldgs by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ryan MacDonald</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$32.00</td>
<td>-</td>
</tr>
<tr>
<td>Ryan MacDonald</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$32.00</td>
<td>-</td>
</tr>
<tr>
<td>Josh Baer</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$28.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Ryan MacDonald</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$32.00</td>
<td>-</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$28.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Steven Enders</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$30.00</td>
<td>$33.00</td>
</tr>
<tr>
<td>Ryan MacDonald</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$32.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Instructure Hldgs. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Instructure Hldgs compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
Capture valuable insights into Instructure Hldgs's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/INST/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Instructure Hldgs analyst ratings.</a>
<h2>About Instructure Hldgs</h2>
Instructure Holdings Inc is an education technology company dedicated towards helping everyone learn together. it amplify the power of teaching and elevate the learning process, directing to improved student outcomes. The company's learning platform is an open, extendable, configurable, and highly integrated set of solutions designed to meet the teaching and learning needs of every K-12, Higher Education and Continuing Education institution and includes the Canvas LMS, Canvas Studio, Canvas Catalog, Mastery Assessment, Canvas Credentials, Canvas Student Pathways, Canvas Network, Impact, Elevate Data Sync, Elevate Data Quality, Elevate Standards Alignment. They operate in a single operating segment which is cloud-based learning management, assessment and performance systems.
<h3>Breaking Down Instructure Hldgs's Financial Performance</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Instructure Hldgs's remarkable performance in 3 months is evident. As of 31 March, 2024, the company achieved an impressive revenue growth rate of 20.65%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -13.59%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Instructure Hldgs's ROE stands out, surpassing industry averages. With an impressive ROE of -1.65%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Instructure Hldgs's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -0.85%, the company may face hurdles in achieving optimal financial returns.
Debt Management: With a high debt-to-equity ratio of 0.91, Instructure Hldgs faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

INST

Analyst Expectations For Instructure Hldgs's Future

Scotiabank analyst Meny Grauman maintains Toronto-Dominion Bank (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TD#TSX">TD</a>) with a Sector Outperform and lowers the price target from C$93 to C$90.

TSX:TD

Scotiabank Maintains Sector Outperform on Toronto-Dominion Bank, Lowers Price Target to C$90

BMO Capital analyst Kelly Bania maintains Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) with a Outperform and raises the price target from $65 to $75.

BMO Capital Maintains Outperform on Walmart, Raises Price Target to $75

Hartford Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIG#NYSE">HIG</a>) has outperformed the market over the past 15 years by 1.37% on an annualized basis producing an average annual return of 13.78%. Currently, Hartford Finl Servs Gr has a market capitalization of $30.22 billion. 
Buying $1000 In HIG: If an investor had bought $1000 of HIG stock 15 years ago, it would be worth $6,830.89 today based on a price of $102.17 for HIG at the time of writing.
<h3>Hartford Finl Servs Gr's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715954424_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Hartford Finl Servs Gr Stock In The Last 15 Years

Ratings for Okta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) were provided by 18 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">11</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">10</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $113.44, a high estimate of $140.00, and a low estimate of $88.00. Marking an increase of 31.05%, the current average surpasses the previous average price target of $86.56. 
<img src="https://www.benzinga.com/files/images/story/2024/1715954422_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A clear picture of Okta's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$110.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Taz Koujalgi</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$130.00</td>
<td>-</td>
</tr>
<tr>
<td>Shyam Patil</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$115.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Shrenik Kothari</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$108.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Peter Levine</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$102.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Matthew Hedberg</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$125.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Brian Essex</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$105.00</td>
<td>$88.00</td>
</tr>
<tr>
<td>Ittai Kidron</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$125.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Madeline Brooks</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$135.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Gregg Moskowitz</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Neutral</td>
<td>$105.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Gabriela Borges</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$120.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Gregory Miller</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$105.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Rob Owens</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$110.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Keith Bachman</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$110.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Michael Walkley</td>
<td>Canaccord Genuity</td>
<td>Raises</td>
<td>Hold</td>
<td>$95.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Peter Weed</td>
<td>Bernstein</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$114.00</td>
<td>$84.00</td>
</tr>
<tr>
<td>Casey Ryan</td>
<td>WestPark Capital</td>
<td>Announces</td>
<td>Buy</td>
<td>$140.00</td>
<td>-</td>
</tr>
<tr>
<td>Brian Essex</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$88.00</td>
<td>$74.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Okta. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Okta compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Okta's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Okta's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/OKTA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Okta analyst ratings.</a>
<h2>All You Need to Know About Okta</h2>
Okta is a cloud-native security company that focuses on identity and access management. The San Francisco-based firm went public in 2017 and focuses on two key client stakeholder groups: workforces and customers. Okta's workforce offerings enable a company's employees to securely access its cloud-based and on-premises resources. The firm's customer offerings allow its clients' customers to securely access the client's applications.
<h3>Financial Insights: Okta</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Positive Revenue Trend: Examining Okta's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 18.63% as of 31 January, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Okta's net margin excels beyond industry benchmarks, reaching -7.27%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Okta's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -0.76%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of -0.5%, the company showcases effective utilization of assets.
Debt Management: Okta's debt-to-equity ratio is below the industry average at 0.22, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: Simplified</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

OKTA

Expert Ratings For Okta

PTC's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTC#NYSE">PTC</a>) short percent of float has fallen 12.68% since its last report. The company recently reported that it has 1.97 million shares sold short, which is 1.86% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.67 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PTC Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715954422_0_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PTC has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing PTC's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PTC's peer group average for short interest as a percentage of float is 3.71%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About PTC?

GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) has outperformed the market over the past 5 years by 13.53% on an annualized basis producing an average annual return of 26.55%. Currently, GE Aero has a market capitalization of $176.19 billion. 
Buying $1000 In GE: If an investor had bought $1000 of GE stock 5 years ago, it would be worth $3,272.20 today based on a price of $160.96 for GE at the time of writing.
<h3>GE Aero's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715954419_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $1000 Invested In GE Aero 5 Years Ago Would Be Worth Today

<h4>Key Takeaways:</h4>
<ul>
<li>Budweiser APAC&rsquo;s first-quarter revenues slipped 0.4% and profits fell 3.4%, sagging from elevated levels a year earlier and dampened by bad weather</li>
<li>Market watchers say earnings may pick up in the second half, stimulated by events such as the Paris Olympics, but rivalry in the premium beer business is heating up</li>
</ul>
By Fai Pui
It&rsquo;s a bit like the downer after a party. Beer industry takings surged last year when China lifted its Covid restrictions, but the high has been wearing off.
Last week Hong Kong-listed&nbsp;Budweiser Brewing Company APAC Ltd.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/bdwby#OTC">BDWBY</a>) became the latest Asian beer producer to report that sales had fallen flat in the first quarter compared to a year earlier, when China&rsquo;s bars and restaurants were just coming back to life after the privations of the Covid pandemic.
The brewer, which sells brands such as Stella Artois, Corona and Budweiser across Asia,&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0508/2024050800063.pdf">said</a>&nbsp;its revenues slipped 0.4% in the quarter to $1.64 billion, while the volume of beer sales sank 4.8% to 2.11 billion liters.
Other beer producers have also been feeling hangover effects from last year&rsquo;s release of pent-up revelry.&nbsp;Tsingtao Brewery&nbsp;logged a 5.2% fall in year-on-year revenue for the quarter, while turnover growth at&nbsp;Beijing Yanjing Brewery&nbsp;slowed to just 1.7% from 13.7% a year earlier.
But unlike Budweiser APAC, those brewers managed to improve their bottom lines even as sales momentum moderated. To investors&rsquo; disappointment, Budweiser APAC&rsquo;s net profit actually fell 3.4% to $287 million despite a 4.4% drop in the quarter&rsquo;s cost of sales. The performance was particularly weak In China, where sales tumbled 6.2% from the year-earlier quarter and revenues took a 2.7% hit.
The sales drop in China and South Korea was chiefly to blame for the lower earnings, the company said, citing the high baseline a year earlier and extreme weather such as heavy rains in Guangdong in March. But CEO Jan Craps reaffirmed the company&rsquo;s focus on high-end beers, saying consumers will still want a taste of luxury even in challenging economic times.
Speaking at the results conference, he said high-end and ultra-premium products would be the company&rsquo;s main profit source in the medium to long term. The company applied small price hikes to its high-end brands last November but kept the cost of other products stable in view of economic conditions, he said.&nbsp;
China&rsquo;s beer production has been declining since hitting a peak of 50.65 million kiloliters in 2013. Only 34.11 million kiloliters were produced in 2020, edging up to 37.89 million kiloliters in 2023. Therefore, major players such as Tsingtao Breweries and&nbsp;China Resources Beer&nbsp;(0291.HK) have been piling onto Budweiser APAC&rsquo;s premium turf to achieve better business margins. The battle to attract high-end beer drinkers is getting ever more intense.
<h3>Superior Beer Wars</h3>
China Resources Beer, for example, has rolled out a range of premium drinks that helped to power an 18.6% jump in its annual profits last year. Consumers can choose from a high-end &ldquo;Pure Malt&rdquo;, an alcohol-free &ldquo;Heineken 0.0&rdquo; or a &ldquo;Qinshihuang CPA&rdquo;, a Chinese pale ale. The company&rsquo;s super-premium &ldquo;Nong Li&rdquo;, a strong beer, is priced at up to 1,199 yuan ($166). The brewer&rsquo;s sales of products classed as mid-grade or above rose 18.9% last year to about 2.5 million kiloliters. Some products achieved double-digit growth, with &ldquo;Heineken&rdquo; sales surging 60%.
China Resources Beer has ambitions to become the country&rsquo;s biggest seller of higher-end beers. Speaking after the release of 2023 results, Chairman Hou Xiaohai said the company was on track to achieve its goal ahead of schedule, this year or next, by doubling down on promoting its premium portfolio.
Tsingtao Brewery also ramped up its efforts at the top end of the market last year, investing in promoting its Wheat Beer, Pure Draft, 1903 and other brands. Last year its sales of mid- and high-grade drinks rose 10.5% to 3.24 million kiloliters, increasing 4.17 percentage points to 40.5% of overall sales.
In April Tsingtao Brewery told investors that the beer industry was in fierce competition for high-end sales, vowing to use its marketing strategy to gain the upper hand. Even Yanjing Brewery and Hong Kong&rsquo;s&nbsp;San Miguel Brewery&nbsp;(0236.HK)are challenging the giants by launching premium beers.
Whether all these rivals can succeed in the same exclusive space remains to be seen, as economic constraints force consumers to review their spending and in some cases to switch to cheaper brews. Commenting on the risk of &ldquo;consumption downgrading&rdquo;, Budweiser APAC&rsquo;s CEO said he thought buyers would make rational decisions, taking the pleasure of the experience into account.
Curtis Yeung, strategist at UOB Kay Hian (Hong Kong), agreed that consumption downgrading was not a major factor for Budweiser APAC for now, as the company&rsquo;s average retail price is rising. But competition in the industry was judged to be a growing problem. Yeung saw little prospect of an earnings uplift until the second half at the earliest, when European soccer championships and the Paris Olympics may stimulate beer sales.
Budweiser APAC&rsquo;s forward price-to-earnings (P/E) ratio stands at about 18 times, with a dividend yield of just 3.65%, which Yeung considers an unappealing valuation. Without any positive news for now, investors may want to check back in again later in the year when the company&rsquo;s business may be picking up.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Asia

BUDWEISER BRWNG UNSP/ADR by BUDWEISER BREWING CO APAC LTD.

BDWBY

Slump From Post-Covid High Leaves Budweiser APAC With Earnings Hangover

Fastly's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>) short percent of float has risen 9.22% since its last report. The company recently reported that it has 12.54 million shares sold short, which is 9.83% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.1 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Fastly Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1715954417_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Fastly has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Fastly's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Fastly's peer group average for short interest as a percentage of float is 6.42%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

FSLY

Looking Into Fastly's Recent Short Interest

The <a href="https://www.newyorkfed.org/newsevents/news/research/2024/20240514">New York Fed</a>&#8216;s latest findings depict a troubling scenario of American household debt, with total balances reaching $17.69 trillion, and mortgage balances rising to $12.44 trillion. The report found that while <a href="https://www.benzinga.com/real-estate/reit/24/04/38047304/unlocking-wealth-millennials-new-path-to-prosperity-with-real-estate">some households remain financially stable</a>, others are increasingly maxing out their credit cards and struggling to keep up with payments. Younger borrowers and those from low-income neighborhoods are particularly vulnerable, with nearly one in five cardholders <a href="https://www.benzinga.com/money/how-to-pay-off-credit-card-debt">using at least 90% of their credit limit</a>. Those maxed-out borrowers have a median total credit limit of $5,000 which is lower than borrowers with lower utilization rates, according to the report.
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 As the cost of living continues to rise and borrowing remains expensive, the risk of delinquencies is expected to grow, posing challenges for consumers and the broader economy. Trapped In A Debt Cycle Credit card balances rose 13.1% to $1.115 trillion in the first quarter, which is $129 billion more than last year. For those who can pay their balances in full each month, this isn&#8217;t an issue. However, nearly 44% of borrowers carry credit card debt from month to month, according to Bankrate. The COVID-19 pandemic initially saw many people paying down their debts, aided by relief payments and a low interest-rate environment. However, the trend has since reversed, with credit card delinquencies returning to pre-pandemic levels despite rising wages and low unemployment rates.
The New York Fed&#8217;s report indicates that the increase in delinquency rates is most notable among those who have maxed out their credit cards. The group is experiencing higher delinquency transition rates than before the pandemic, suggesting financial distress is growing among some households.
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 For all debt outside of student loans, delinquency has been steadily rising since the fourth quarter of 2021 after historic lows during the COVID-19 pandemic. The nationwide aggregate credit card utilization rate was about 23% last quarter, but the utilization rates of individuals differ widely. The report also found that 3.2% of outstanding debt was delinquent as of March 2024. Delinquency transition rates rose across all borrowing types, with 8.9% of credit card accounts and 7.9% of auto loan accounts moving into troubled status. Borrowers using more than 60% of their credit are falling into delinquency at a faster pace than before the pandemic, the New York Fed said, making up most of the increase in credit card delinquency rates. About a third of balances associated with borrowers using more than 90% of their credit became delinquent in the past year, compared to about 25% before the pandemic. The report also noted that auto loan delinquencies have increased alongside rising monthly car payments, with nearly 2.8% of auto loans now 90 or more days delinquent, affecting over three million vehicles. Although American consumers generally have strong balance sheets, according to the Fed's data, rising financial stress among certain groups is evident. Read Next:
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Latest News for SPDR SSGA US Small Cap Low Volatility Index ETF (ARCA:SMLV)

Friday, September 04, 2015