Full Truck Alliance Co (NYSE:YMM) Stock, Quote.Headers.trade-ideas

Full Truck Alliance Co

Full Truck Alliance Co Ltd, through its subsidiaries, provides comprehensive services for shippers and truckers through its mobile and website platforms. Its principal operations are in the People's Republic of China. The group derives its revenues principally from shippers and trucker's use of its platforms in connection with freight matching services and value-added services.

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News

Guidance

Full Truck Alliance reported Q2 results with sales growth of 34.1%, exceeding expectations. FTA expects 21.9-24.6% growth in Q3. 

Full Truck Alliance Clocks 34% Sales Surge In Q2, Signals Continued Growth And Monetization Success

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Shares of  Clover Health Investments, Corp. (NASDAQ: CLOV) rose sharply during Wednesday’s session after the company reported better-than-expected fourth-quarter revenue results and issued FY24 insurance revenue guidance.

Why Clover Health Investments Shares Are Trading Higher By 11%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Dividends

Buybacks

General

Full Truck Alliance extends its share repurchase program up to $300 million and declares a $0.0072 per share dividend.

Why Full Truck Alliance Shares Are Gaining Today

Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares)

Full Truck Alliance Co Ltd

Yukon Metals Corp

Jefferies analyst Jonathan Matuszewski maintains Beyond (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>) with a Hold and lowers the price target from $14 to $11.

Price Target

Analyst Ratings

BYON

Jefferies Maintains Hold on Beyond, Lowers Price Target to $11

Lael Brainard, <a href="https://widgets.benzinga.com/topic/lael-brainard">the former vice chair of the Federal Reserve and current director of the National Economic Council</a>, spoke at a Detroit Economic Club event Monday and discussed the current economic climate and why inflation has remained sticky. 
While she acknowledged that inflation has fallen from its 40-year highs, housing and rental prices are still more expensive than what many Americans are comfortable. Brainard was asked by moderator Glenn Stevens, executive director MichAuto, what her current view of the economy is. Brainard discussed the fact that the unemployment rate is historically low as a sign of strength but acknowledged inflation is still above the Fed's target of 2%. Read Also: <a href="https://www.benzinga.com/markets/asia/24/09/40987608/biggest-risk-for-us-autos-biden-advisor-outlines-steps-to-counter-chinese-influence-on-the-industry">Biggest Risk For U.S. Autos? Biden Advisor Outlines Steps To Counter Chinese Influence On The Industry</a>
She pointed to shelter and housing as one particular area where inflation has remained tricky, but explained how the country may go about tackling that problem moving forward. Brainard said the U.S. needs to build three million new housing units to level out supply and demand, bringing prices lower. "Housing to be our next big focus, we have tried to get Congress to work with us on low-income house tax credits they are vital," Brainard said. &#8220;Unfortunately, that bill would have created another 200,000 units [but] that bill was blocked." Brainard said the Federal Reserve cutting interest rates by .5% was evidence it is comfortable with the current inflation trends. And while interest rate cuts could lead to lower mortgage rates and increased demand, it also makes it easier for homebuilders to create more homes.&nbsp;
"Now that the inflation challenge is receding, a more favorable interest rate environment will be good for residential construction," Brainard said. Read Next: • <a href="https://www.benzinga.com/trading-ideas/previews/24/09/40990382/kb-home-q3-earnings-preview-analysts-anticipate-revenue-growth-will-investors-hear-about-r">KB Home Q3 Earnings Preview: Analysts Anticipate Revenue Growth — Will Investors Hear About Rate Cuts, 2024 Election?</a><a href="https://www.benzinga.com/trading-ideas/previews/24/09/40990382/kb-home-q3-earnings-preview-analysts-anticipate-revenue-growth-will-investors-hear-about-r"> </a>
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Government

Federal Reserve

Real Estate

US Needs To Do One Simple Thing To Bring Inflation Down, Says Former Vice Chair Of Federal Reserve

Citigroup analyst Daniel Grosslight maintains MultiPlan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLN#NYSE">MPLN</a>) with a Neutral and lowers the price target from $17.2 to $10.

MPLN

Citigroup Maintains Neutral on MultiPlan, Lowers Price Target to $10

Citigroup analyst Asiya Merchant reinstates Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) with a Neutral and announces $20 price target.

Initiation

Citigroup Reinstates Neutral on Hewlett Packard, Announces $20 Price Target

Citigroup analyst Atif Malik reinstates Juniper Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNPR#NYSE">JNPR</a>) with a Neutral and announces $40 price target.

JNPR

Citigroup Reinstates Neutral on Juniper Networks, Announces $40 Price Target

Automotive parts retailer AutoZone Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) looks to keep its streak of earnings beats alive when the company reports fourth-quarter financial results before the market opens <a href="https://www.benzinga.com/earnings">Tuesday, Sept. 24.</a>
Earnings Estimates: Analysts expect AutoZone will report fourth-quarter earnings per share of $53.53, up from $46.46 in last year's fourth quarter, according to data<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092324&amp;t=be2bearmibe3na1"> from Benzinga Pro</a>.
The company has beaten earnings estimates from analysts in 19 straight quarters according to Benzinga Pro data.
Analysts expect the company to report fourth-quarter revenue of $6.22 billion, up from $5.69 billion in last year's fourth quarter.
The company has beaten revenue estimates from analysts in eight of the past 10 quarters, but missed estimates in two of the last three quarters.
What Analysts Are Saying: Fourth-quarter sales are likely to be in-line with analyst estimates for AutoZone, Truist analyst Scot Ciccarelli said in a recent investor note.
The analyst said concerns over currency exchange rates could limit the international comparable sales. The auto parts sector also remains "challenging," Ciccarelli added.
"Our data suggests that the beginning and end of the quarter were a bit softer, with relative strength in late June and July, but a reasonably steady cadence throughout," Ciccarelli said.
Ciccarelli also expects gross margins to improve 60 basis points year-over-year in the fourth quarter thanks to holding retail prices steady and being able to lower procurement costs.
"We remain aggressive buyers of AZO, think fundamentals are poised to reaccelerate and believe they will continue to take share over time in a highly favorable vertical.
Here are other recent analyst ratings on AutoZone and their price targets:
Evercore ISI: Maintained Outperform rating, lowered price target from $3,900 to $3,350
Wedbush: Reiterated Outperform rating with $3,200 price target
Read Also: <a href="https://www.benzinga.com/insights/options/24/09/40839962/spotlight-on-autozone-analyzing-the-surge-in-options-activity">Spotlight on AutoZone: Analyzing the Surge in Options Activity</a>
Key Items to Watch: Data from Placer.ai <a href="https://www.placer.ai/blog/auto-parts-retailers-the-traffic-continues">showed</a> AutoZone had visits increase 4.4% year-over-year during the second quarter of the calendar year. Visits were up 7.3%, 2.7% and 5.5% year-over-year for June, July and August, respectively.
The report said auto parts retailers such as AutoZone are "sustaining their pandemic-era success and benefitting from the increase in older cars on the road."
For AutoZone, the trend of repairing vehicles versus replacing them with new ones could continue to benefit the company, according to the report.
The company placed partial blame on the timing of tax refunds and the weather in the third quarter. While tax refunds won't be an item to watch in the fourth-quarter results, the weather could be.
"As we begin our all-important summer selling season, we are very excited about the initiatives we have in place to enhance our inventory availability, continue to accelerate our domestic commercial business and provide great customer service," CEO Phil Daniele said in the third-quarter results.
AZO Price Action: AutoZone stock closed Monday up 0.93%% to $3,048.82 on Monday versus a 52-week trading range of $2,375.35 to $3,256.37.
Read Next: 
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<li><a href="https://www.benzinga.com/exclusives/24/09/40962321/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Ye</a>t</li>
</ul>
Photo: Ken Wolter via Shutterstock

Previews

Reiteration

AutoZone Q4 Earnings Preview: Data Shows Strong Visit Growth, Analyst Says Company To 'Continue To Take Share Over Time'

Jefferies analyst Anne Ling downgrades MINISO Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) from Buy to Hold.

Downgrades

MNSO

Jefferies Downgrades MINISO Group Holding to Hold

Sunrun and Toll Brothers have an exclusive agreement for Sunrun to provide solar power as an included feature in all Toll Brothers homes in California, as well as a preferred agreement to provide solar for additional Toll Brothers divisions nationwide.
As part of the agreement, Sunrun will serve as a &quot;one-stop shop&quot; to provide solar as a standard feature in all Toll Brothers communities in California, including sales, design, permitting, installation, customer care, and warranty. Sunrun also provides home buyers with the choice of a third-party battery storage system, including EnPhase or the Tesla Powerwall 3, to integrate with their provided residential solar system.

Contracts

Toll Brothers Enters New National Partnership For Sunrun To Provide Solar Power And Storage To Homes

Jefferies analyst Keith Devas downgrades Perrigo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) from Buy to Hold and lowers the price target from $50 to $30.

PRGO

Jefferies Downgrades Perrigo to Hold, Lowers Price Target to $30

RAIR Technologies, an open-source platform for building decentralized Web3 applications, has been accepted into the Denarii Labs Accelerator, a competitive program aimed at helping early-stage Web3 companies develop and fine-tune their tokenomics. 
The 12-week accelerator program, led by RedBeard Ventures and supported by advisory firms such as Futureverse, will provide RAIR Technologies with strategic mentorship and guidance as it strengthens its core technology and token models, RAIR Technologies said in a statement to Benzinga.
Denarii Labs is known for offering support in tokenomics and launch strategies for Web3 startups, focusing on aligning business models with token structures that can drive sustainable growth. 
The accelerator's selection process is highly competitive, ensuring that only the most promising companies in the Web3 space are chosen. 
RAIR Technologies will use this opportunity to refine the tokenomics of its RAIRprotocol, a tool designed to enable decentralized application development, asset creation, and royalty tracking.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40989296/ethereum-outshines-bitcoin-after-u-s-federal-reserve-rate-cut-but-heres-how-volatility-cou">Ethereum Outshines Bitcoin After U.S. Federal Reserve Rate Cut, But Here&#8217;s How Volatility Could Crash The Party</a>
"We couldn't be more proud to be accepted into this unique and elite program for the Web3 industry," said Ed Prado, CEO of RAIR Technologies. "Denarii Labs will allow us to drill down on our tokenomics before we significantly expand both the technology and our partner base."
RAIR's acceptance into the program comes at a crucial time, as the company prepares to raise additional funding and explore new partnerships. 
With mentorship from industry leaders such as Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), GSR and Omniscia, along with legal guidance from Fenwick &amp; West, RAIR Technologies will focus on refining its business model and investor readiness.
The company previously participated in Sony's accelerator program, which resulted in a partnership with Soneium, Sony's blockchain initiative.
These topics will be explored in depth at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where industry experts will discuss the future of Web3, blockchain innovation and tokenomics in the decentralized economy.
Read Next: • <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40985125/bitcoins-on-chain-metrics-are-turning-bullish-what-is-going-on">Bitcoin&#8217;s On-Chain Metrics Are Turning Bullish: What Is Going On?</a>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

COIN

RAIR Technologies Joins Denarii Labs Accelerator To Refine Web3 Tokenomics

Telegram's CEO Pavel Durov agreed to provide user IP addresses and phone numbers to authorities in response to valid <a href="https://www.benzinga.com/topic/law">legal requests</a>.
Following his arrest in France last month, Durov, who previously resisted government demands for user data, changed Telegram's terms of service to prevent criminals from exploiting the app, <a href="https://www.bloomberg.com/news/articles/2024-09-23/telegram-ceo-durov-says-app-to-provide-more-data-to-governments">per</a> Bloomberg's report.
French authorities allege Telegram, with its reputation for protecting privacy and using encryption, has become a hub for criminal activities. 
Durov, a dual French-Russian national, denied these charges, stating the misuse of technology should not be blamed on its creators. He remains prohibited from leaving the country after being released on a $5.5 million bail.
Amid legal troubles, Telegram has announced new measures to combat misuse of the platform. Durov revealed the company began using artificial intelligence and human moderation to filter problematic content from search results.
&#8220;We've already started this process internally,&#8221; he stated, adding that more details will be shared soon.
The European Union has been tightening regulations on encrypted communication, even debating proposals such as client-side or on-device scanning of private messages and photos — measures that Al Jazeera <a href="https://www.aljazeera.com/economy/2024/6/20/orwellian-eus-push-to-mass-scan-private-messages-on-whatsapp-signal">characterized</a> as "Orwelian."
Meredith Whittaker, president of Signal, reflected on such measures earlier this year, <a href="https://signal.org/blog/pdfs/upload-moderation.pdf">stating</a> &#8220;There is no way to implement such proposals without undermining encryption and creating vulnerabilities.&#8221;
Preston Bryne, a senior fellow at the Adam Smith Institute, raised concerns about the broader implications of Durov's case for online censorship.
&#8220;European states are trying to dictate to foreign companies what content they can and cannot host,&#8221; he <a href="https://prestonbyrne.com/2024/08/24/thoughts-on-the-durov-arrest/">noted</a>, likening the situation to selective enforcement targeting political adversaries.
French President Emmanuel Macron dismissed those allegations calling them "a part of an independent investigation," <a href="https://www.lemonde.fr/en/pixels/article/2024/08/28/telegram-ceo-pavel-durov-formally-indicted-prohibited-from-leaving-france_6722943_13.html">per</a> Le Monde.
This decision is certain to impact Telegram's business model, which was rooted in the platform's commitment to protecting users&#8217; privacy. Even before this turnaround, the company's financials were not stellar, as, according to documents obtained <a href="https://www.ft.com/content/242552a9-4280-46c0-9d61-bcf6ccd14400">by</a> the Financial Times, as it lost $259 million in 2023.
It is unclear whether the possible user exodus might benefit competitors like Signal or WhatsApp. Following the news, Meta Platform Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) stock closed at a new all-time high of $573.98
Now Read:  • <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40989179/meta-connect-2024-preview-cheaper-vr-expected-analysts-see-augmented-reality-and-ai">Meta Connect 2024 Preview: Cheaper VR Expected, Analysts See Augmented Reality And AI As Major Focus</a>

Photo: Shutterstock

Eurozone

Legal

Global

Tech

Telegram Uses AI To Filter Problematic Data, Will Share User Info To Authorities

STOCK CLOSES NEAR HIGH OF THE DAY
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="810" height="742" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM.png" alt="" class="wp-image-1409" style="width:920px;height:auto" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM.png 810w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM-300x275.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/09/23200849/Screen-Shot-2024-09-23-at-4.10.37-PM-768x704.png 768w" sizes="(max-width: 810px) 100vw, 810px" /></figure>
Today, TradePulse&#8217;s latest Power Inflow alert indicated institutional volume is coming into Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), signaling a shift from net selling to buying. This shift is a key indicator of rising investor confidence and the potential for an uptrend in BKNG&#8217;s stock.
At 10:02 AM ET on September 23rd BKNG registered a Power Inflow at a price of $4062.73. Following this signal, the stock reached its high point at 3:55 EDT, climbing over 40 points ($4104.87) during the day, translating to an approximate increase of 1.0%. This alert is crucial for investors relying on order flow analytics, suggesting the beginning of an uptrend and presenting a valuable opportunity for those anticipating higher prices. Observers are now closely monitoring BKNG for sustained positive momentum, viewing this as a bullish sign.
Understanding Power Inflow:
A Power Inflow is identified by a surge in buy orders over sell orders, typically occurring within the first one or two hours after the market opens. This phenomenon is observed in ten to twenty stocks daily, reflecting the initial strategies and reactions of large institutional investors. Analyzing the size, timing, and price of these transactions helps signal shifts in market sentiment and potential price changes. For those interested in monitoring more stocks exhibiting Power Inflows, visiting the TradePulse website provides comprehensive insights and updates on daily occurrences.
Importance of Power Inflow:
Power Inflows are crucial as they offer early indications of potential uptrends, enabling traders to act even before the market fully adjusts. Such a change is commonly viewed as a sign of larger inflows than retail is capable of producing, indicating institutional interest and a short-term uptrend in the stock. Although not always marking the lowest point, stocks tend to rise following a Power Inflow. This makes these signals especially valuable for identifying strategic entry points and planning short-term investments, as they provide an opportunity to capitalize on upward momentum ahead of wider market recognition.
Strategic Actions Following a Power Inflow:
After detecting a Power Inflow, traders should view it as a potential entry buying point but also confirm the trend with TradePulse's additional indicators such as Momentum, Daily, and Large Deal flows to ensure its strength and viability. Prompt action, combined with strategic stop-loss settings, can maximize returns and minimize risks. This comprehensive approach allows traders to make more informed decisions, optimizing their trading strategies in alignment with real-time market dynamics.
If you want to stay updated on the latest options trades for Booking Holdings Inc.,<a href="https://benzinga.grsm.io/register174"> Benzinga Pro</a> gives you real-time options trade alerts.&nbsp;
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data are brought to you by Benzinga APIs</a> and include firms, like<a href="https://finitusa.com/en/"> Finit USA</a>, responsible for parts of the data within this article. 
After Market Close UPDATE:
The price at the time of the Power Inflow was $4062.73. The returns on the High price ($4104.87) and Close price ($4097.08) after the Power Inflow were respectively 1.0% and 0.8%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite. In this case the high of the day and close were very close but that is not always the case
Past Performance is Not Indicative of Future Results

Signals

BKNG

Tradepulse Power Inflow Alert: Booking Holdings Inc. Climbs Over 40 Points After Signal

O'Reilly Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORLY#NASDAQ">ORLY</a>) has outperformed the market over the past 15 years by 13.85% on an annualized basis producing an average annual return of 25.72%. Currently, O'Reilly Automotive has a market capitalization of $64.99 billion. 
Buying $1000 In ORLY: If an investor had bought $1000 of ORLY stock 15 years ago, it would be worth $30,563.32 today based on a price of $1119.84 for ORLY at the time of writing.
<h3>O'Reilly Automotive's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727127024_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.

ORLY

$1000 Invested In This Stock 15 Years Ago Would Be Worth $31,000 Today

Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) has outperformed the market over the past 20 years by 8.05% on an annualized basis producing an average annual return of 16.54%. Currently, Adobe has a market capitalization of $234.06 billion. 
Buying $100 In ADBE: If an investor had bought $100 of ADBE stock 20 years ago, it would be worth $2,125.94 today based on a price of $527.87 for ADBE at the time of writing.
<h3>Adobe's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727127019_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.

ADBE

$100 Invested In This Stock 20 Years Ago Would Be Worth $2,100 Today

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares moved higher Monday as investors anticipate the company's third-quarter delivery figures and <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40987087/us-stocks-stall-gold-updates-record-highs-tesla-rallies-whats-driving-markets-monday">the release of its robotaxi.&nbsp;</a>
The Details: Tesla shares climbed nearly 5% Monday after Barclays analyst Daniel Levy said he expects Tesla deliveries to come in higher than the consensus estimate of 460,000, according to <a href="https://finance.yahoo.com/news/tesla-stock-pops-amid-bullish-sales-forecast-as-robotaxi-unveiling-looms-181255883.html?utm_campaign=bm&amp;utm_medium=newsletter&amp;utm_source=morning_brew">a report</a> from Yahoo Finance.&nbsp;
The Barclays analyst expects Tesla to deliver about 470,000 EVs for the quarter due to an uptick in sales in China.&nbsp;
"Given the positive data points reported thus far in the quarter, particularly in China, we believe Tesla&#8217;s sales trajectory is well understood and investors are expecting a stronger result," Levy wrote.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/09/40948948/homebuilder-lennar-reports-better-than-expected-q3-results-details">Homebuilder Lennar Reports Better-Than-Expected Q3 Results: Details</a>
Levy also expects Tesla's long-awaited "Robotaxi Day" scheduled for Oct. 10 to boost the stock. Tesla CEO Elon Musk has<a href="https://www.benzinga.com/news/24/07/39929718/tesla-robotaxi-unveiling-set-for-oct-10-here-are-the-updates-from-company-ceo-elon-musk-on-its-upcom"> hinted at the possibility</a> of the first unsupervised Tesla robotaxi ride by the end of 2024.
"It's difficult, obviously, my predictions on this have been overly optimistic in the past," Musk said. "…based on the current trend… you could do [it] unsupervised possibly by the end of this year. I would be shocked if we cannot do it next year."
<h1 class="wp-block-heading">TSLA Stock Prediction 2024</h1>
Tesla&#8217;s revenue growth in FY23 was 18.8%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company&#8217;s future prospects.
Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 4.83%, while PPI recently came in at 0.2%, growing 1.7% from last year. The unemployment rate was most recently reported as 4.2%.
An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Tesla stock. For real-time economic data and breaking market updates, <a href="https://pro.benzinga.com/">check out Benzinga Pro. Try it for free.</a>
How does this stack up against Tesla's peers? Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. 
Tesla operates in the Consumer Discretionary sector. The stock has experienced an average annual growth of -1.06% compared to the -37.76% average of its peer companies. This is below the broader sector movement of Tesla.
TSLA Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Tesla shares ended Monday's session 1.22% higher at $250.
Read Also:
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40957779/shipping-giants-fedex-ups-stocks-slip-friday-whats-going-on">Shipping Giants FedEx, UPS Stocks Slip Friday: What&#8217;s Going On?</a></li>
</ul>
Photo: Courtesy of Tesla, Inc.

TSLA

What Happened With Tesla Stock Today?

HEI intends to use the net proceeds from the offering to fund its contribution to the expected Maui wildfire tort litigation settlement and for general corporate purposes.

Offerings

Hawaiian Electric Industries Intends To Make Offering Of $500M Of Shares Of Its Common Stock

SSIC

Silver Spike Investment Says Stockholders Have Voted At Special Meeting Of Stockholders To Approve Proposal Related To Acquisition Of CALP Loan Portfolio

N-Sorb leverages company&#39;s proven 3-Phase Activ-Polymer&nbsp;platform technology to address recent concerns related to N-nitrosamine impurities in pharmaceuticals.

AptarGroup Says N-Sorb Nitrosamine Mitigation Solution Has Been Accepted Into FDA Emerging Technology Program

Ratings for Grocery Outlet Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GO#NASDAQ">GO</a>) were provided by 7 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;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">4</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;">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;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</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;">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>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $23.43, with a high estimate of $31.00 and a low estimate of $17.00. Highlighting a 18.08% decrease, the current average has fallen from the previous average price target of $28.60. 
<img src="https://www.benzinga.com/files/images/story/2024/1727125287_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of Grocery Outlet Holding among financial experts becomes clear 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>Karen Short</td>
<td>Melius Research</td>
<td>Announces</td>
<td>Hold</td>
<td>$17.00</td>
<td>-</td>
</tr>
<tr>
<td>Bill Kirk</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$20.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Michael Lasser</td>
<td>UBS</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$21.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$27.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Jeremy Hamblin</td>
<td>Craig-Hallum</td>
<td>Lowers</td>
<td>Hold</td>
<td>$20.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$31.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Anthony Bonadio</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Overweight</td>
<td>$28.00</td>
<td>-</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 Grocery Outlet Holding. 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 Grocery Outlet Holding compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Grocery Outlet Holding's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Grocery Outlet Holding'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/GO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Grocery Outlet Holding analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>About Grocery Outlet Holding</h2>
Grocery Outlet Holding Corp is a grocery store operator in the United States. Its flexible buying model allows them to offer quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers. The stores are run by Entrepreneurial independent operators which create a neighborhood feel through personalized customer service and a localized product offering.
<h3>Financial Insights: Grocery Outlet Holding</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Grocery Outlet Holding's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 11.71% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Consumer Staples sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Grocery Outlet Holding's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.24% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Grocery Outlet Holding's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 1.15%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.46%, the company showcases effective utilization of assets.
Debt Management: Grocery Outlet Holding's debt-to-equity ratio is below the industry average at 1.25, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

7 Analysts Assess Grocery Outlet Holding: What You Need To Know

13 analysts have expressed a variety of opinions on Microchip Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within 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;">6</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">3</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;">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;">6</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>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</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>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $96.92, a high estimate of $115.00, and a low estimate of $80.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 5.33%. 
<img src="https://www.benzinga.com/files/images/story/2024/1727125260_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A comprehensive examination of how financial experts perceive Microchip Technology is derived from recent analyst actions. The following is a detailed summary of 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>William Stein</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$80.00</td>
<td>$89.00</td>
</tr>
<tr>
<td>Harsh Kumar</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$100.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Quinn Bolton</td>
<td>Needham</td>
<td>Lowers</td>
<td>Buy</td>
<td>$96.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Hans Mosesmann</td>
<td>Rosenblatt</td>
<td>Lowers</td>
<td>Buy</td>
<td>$90.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Christopher Danely</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$92.00</td>
<td>$104.00</td>
</tr>
<tr>
<td>Craig Ellis</td>
<td>B. Riley Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$103.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>William Stein</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$89.00</td>
<td>$96.00</td>
</tr>
<tr>
<td>Harlan Sur</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$100.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Christopher Rolland</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$105.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Vivek Arya</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$90.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Hans Mosesmann</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Buy</td>
<td>$100.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Christopher Rolland</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$115.00</td>
<td>$105.00</td>
</tr>
<tr>
<td>Joseph Moore</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$100.00</td>
<td>$102.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Microchip Technology. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Microchip Technology compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Microchip Technology's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Microchip Technology's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/MCHP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Microchip Technology analyst ratings.</a>
<h2>About Microchip Technology</h2>
Microchip Technology became an independent company in 1989 when it was spun off from General Instrument. More than half of revenue comes from MCUs, which are used in a wide array of electronic devices from remote controls to garage door openers to power windows in autos. The company's strength lies in lower-end 8-bit MCUs that are suitable for a wider range of less technologically advanced devices, but the firm has expanded its presence in higher-end MCUs and analog chips as well.
<h3>Microchip Technology: Delving into Financials</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Negative Revenue Trend: Examining Microchip Technology's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -45.76% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Microchip Technology's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 10.42%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Microchip Technology's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 1.98%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Microchip Technology's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.82%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Microchip Technology's debt-to-equity ratio is notably higher than the industry average. With a ratio of 0.97, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>What Are Analyst Ratings?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and 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.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

MCHP

13 Analysts Assess Microchip Technology: What You Need To Know

Baron International Growth Fund Q2 2024 Shareholder Letter

Full Truck Alliance Non-GAAP EPS of $0.13 in-line, revenue of $380.4M beats by $7.73M

Full Truck Alliance Co. Ltd. (YMM) Q2 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Full Truck Alliance Co (NYSE:<a href="https://investorplace.com/stock-quotes/ymm-stock-quote/">YMM</a>) just reported results for the second quarter of 2024.<ul><li>Full Truck Alliance Co reported earnings per share of 13 cents. This was above the analyst estimate for EPS of 12 cents.</li><li>The company reported revenue of $380.38 million.</li><li>This was 2.31% worse than the analyst estimate for revenue of $389.36 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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Full Truck Alliance: Positive On Strong Q2 Growth And Favorable Volume Guidance

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
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The market's fascination with tech stocks reflects anticipation that these companies will drive the next phase of economic growth, and with that in mind, under $20 tech stocks with significant upside potential, Full Truck Alliance (YMM), CCC Intelligent Solutions (CCCS), and Sprinklr (CXM), that one might scoop up. Keep reading… With the world transforming into a digital world, the tech sector is again in the spotlight. Investors are particularly drawn to tech stocks due to their boosting return and revenue models, like subscriptions and Software-as-a-Service (SaaS), which provide predictable potential earnings in the future.
Given this landscape, it could be wise for investors to keep an eye on quality tech stocks Full Truck Alliance Co. Ltd. (<a href="https://stocknews.com/stock/YMM/">YMM</a>), CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>), and Sprinklr, Inc. (<a href="https://stocknews.com/stock/CXM/">CXM</a>), which are trading under $20 and have high growth potential due to their disruptive technologies and unique business models. Moreover, these stocks have more than 30% upside potential.
From Artificial Intelligence (AI) and cloud computing to cybersecurity and digital payments, tech companies are leading the charge in redefining industries and consumer behaviors. Gartner's research further supports this optimism, predicting a 7.5% year-over-year increase in global IT spending in 2024, <a href="https://www.gartner.com/en/newsroom/press-releases/2024-07-16-gartner-forecasts-worldwide-it-spending-to-grow-7-point-5-percent-in-2024">expected to be valued at $5.26 trillion</a>.
According to a <a href="https://www.pwc.com/gx/en/issues/data-and-analytics/publications/artificial-intelligence-study.html">PwC report</a>, AI will have a significant impact in the coming years, contributing up to $15.70 trillion to the global economy by 2030. This, in turn, has led to strong earnings reports and optimistic outlooks from many tech companies, fueling investor confidence.
Let's now look at the featured stocks in detail:
Full Truck Alliance Co. Ltd. (<a href="https://stocknews.com/stock/YMM/">YMM</a>)
Headquartered in Guiyang, China, YMM is a freight dispatch platform mainly engaged in developing cloud computing, big data, mobile internet, and artificial intelligence technology. It also provides technology development and other services.
In terms of forward non-GAAP P/E, YMM is trading at 14.31x, 24.2% lower than the industry average of 18.89x. Likewise, the stock's forward EV/EBIT and Price/Cash flow multiples of 13.84 and 10.56 are 11.9% and 27.6% lower than their respective industry averages of 15.71 and 14.58.
In the second quarter that ended on June 30, 2024, YMM reported net revenue of RMB2.76 billion ($380.38 million). The company's result from adjusted <a href="https://www.investopedia.com/terms/i/ifo.asp">income from operations</a> came in at RMB698.97 million ($96.18 million), indicating a growth of 55.1% year-over-year. In addition, its adjusted net income amounted to RMB970.86 million ($133.59 million) and RMB0.05 per share, reflecting increases of 34.3% and 66.7% year-over-year, respectively.
For the third quarter of 2024, YMM expects total net revenues to be between RMB2.76 billion and RMB2.82 billion, representing a year-over-year growth of approximately 21.9% to 24.6%.
Analysts expect YMM's revenue for the third quarter (ending September 2024) to increase 23.1% year-over-year to $388.17 million, while its EPS for the same period is expected to grow 33.5% from the prior year to $0.15. Moreover, it topped the street revenue and EPS estimates in each of the trailing four quarters, which is excellent.
Over the past six months, the stock has surged 8.9%, closing the last trading session at $7.10.
Out of five analysts that rated YMM, four rated it Buy, while one rated it Hold. The 12-month median price target of $11.02 indicates <a href="https://www.tipranks.com/stocks/ymm/forecast">a 55.2% upside potential</a> from the last closing price. The price targets range from a low of $9 to a high of $12.
YMM's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has a B grade for Growth and Momentum. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
Among the 125 stocks in the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry, it is ranked #72. <a href="https://stocknews.com/stock/YMM/">Click here</a> to see the additional YMM ratings (Value, Stability, Sentiment, and Quality).
CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>)
CCCS provides software as a service (SaaS) platform for the property and casualty (P&amp;C) insurance economy.  The company's cloud-based software serves as a service platform connecting trading partners, facilitating commerce, and enabling digital workflow across the platform through artificial intelligence.
On September 4, CCCS launched CCC&#xAE; Payroll, a new solution designed to streamline payroll management for collision repair shops. This new solution will enable shops to track production and labor within a single system, the CCC ONE&#xAE; Platform, simplifying the process and enhancing transparency.
On July 30, the company launched CCC&#xAE; Intelligent Reinspection, a new solution designed to help auto insurers streamline the review of incoming repair facility estimates, expediting repairer workflows and claims resolutions. This new solution will use AI-powered analysis and audit capabilities to assess incoming shop estimates based on insurer-provided rules.
In terms of forward Price/Book, CCCS is trading at 3.33x, 17.2% lower than the industry average of 4.02x.
CCCS' revenues for the second quarter (ended June 30, 2024) increased 9.9% year-over-year to $232.62 million. It reported an adjusted gross profit of $182.08 million, indicating a 12.4% growth from the prior year quarter with an adjusted gross profit margin of 78% (up 100 bps year-over-year).
The company's adjusted net income came in at $56.19 million and $0.09 per share, up 17.4% and 12.5% year-over-year, respectively. Also, its adjusted EBITDA increased 18.4% year-over-year, amounting to $95.79 million.
As per the business outlook for the fiscal year 2024, CCCS forecasts revenue to be between $941 million and $945 million. The company also expects adjusted EBITDA to range from $391 million to $395 million.
The consensus revenue estimate of $237.36 million for the fiscal third quarter (ending September 2024) represents a 7.3% increase year-over-year. The consensus EPS estimate of $0.09 for the same quarter indicates marginal improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
The stock has gained marginally over the past month to close the last trading session at $10.43.
Based on 10 Wall Street analysts offering 12-month price targets for CCCS in the last three months, <a href="https://www.tipranks.com/stocks/cccs/forecast">the average target price is $13.89</a>, indicating a 33.2% upside from the last price, with a high forecast of $15 and a low forecast of $13.
CCCS' POWR Ratings reflect its promising outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system.
CCCS' has a B grade for Growth, Stability, and Sentiment. It is ranked #3 out of 18 stocks in the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry. <a href="https://stocknews.com/stock/CCCS/">Click here</a> to see the other ratings of CCCS for Value, Momentum, and Quality.
Sprinklr, Inc. (<a href="https://stocknews.com/stock/CXM/">CXM</a>)
CXM provides enterprise cloud software products worldwide. The company operates the Unified Customer Experience Management platform, an AI-powered platform where its software enables customer-facing teams to collaborate across internal silos, communicate across digital channels, and leverage a complete suite of capabilities to deliver customer experiences.
On June 27, CXM expands its partnership with Snapchat to help brands manage all organic and paid Snapchat content in one unified platform. Brands will be able to post Snapchat Stories, publish Spotlight Content, and promote this organic content with ads all in Sprinklr, saving time and reducing costs while engaging a powerful audience.
In the same month, CXM and Reddit, Inc. announced their agreement to expand its strategic partnership. This partnership spans both Reddit's Data and Advertising APIs, with CXM openly as their first official partner.
In terms of forward EV/Sales, CXM is trading at 1.88x, which is 31.7% lower than the industry average of 2.75x. The stock's forward Price/Sales ratio of 2.41x is 11.9% below the industry average of 2.73x. Also, its forward EV/EBITDA multiple of 13.26 compares to the industry average of 13.77x.
For the second quarter of 2025, which ended on July 31, CXM's revenues increased 10.5% year-over-year to $197.21 million. Its non-GAAP gross profit came in at $143.61 million, up 5.8% year-over-year. The company's free cash flow increased 89.4% year-over-year, amounting to $16.53 million. Its non-GAAP net income for the quarter stood at $42.44 million or $0.15 per share.
For the full fiscal year, the company expects its subscription revenue to range between $710.50 million and $712.50 million. It also expects total revenue between $785 million and $787 million and non-GAAP operating income to range from $80.5 million to $81.5 million. Additionally, CXM expects its non-GAAP net income per share to fall between $0.32 and $0.33.
Street expects CXM's revenue for the third quarter (ending October 2024) to increase 5.5% year-over-year to $196.49 million. However, the consensus EPS estimate of $0.08 for the same period indicates a 27.3% year-over-year decline.
CXM shares have declined 1.5% intraday to close the last trading session at $7.36.
Based on 12 Wall Street analysts offering 12-month price targets for CXM in the last three months, <a href="https://www.tipranks.com/stocks/cxm/forecast">the average target price is $10.30</a>, indicating a 40% potential upside from the last price, with a high forecast of $17 and a low forecast of $8.
CXM's mixed fundamentals are reflected in its POWR Ratings. The stock has a B grade for Value and Quality. It is ranked #60 out of 125 stocks in the Software - Application industry.
Beyond what is stated above, we've also rated CXM for Growth, Momentum, Stability, and Sentiment. Get all CXM's ratings <a href="https://stocknews.com/stock/CXM/">here</a>.
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YMM shares were trading at $7.35 per share on Wednesday afternoon, up $0.25 (+3.52%). Year-to-date, YMM has gained 6.64%, versus a 16.12% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Anushka Dutta</h2> <img src='https:/wp-content/uploads/2021/08/Anushka-Dutta_Headshot_3.jpg' style="float:left; padding:5px;width:125px;">Anushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.<a href="https://stocknews.com/authors/?author=anushka-dutta">More...</a>The post <a href=https://stocknews.com/news/ymm-cccs-cxm-3-tech-stocks-under-20-with-big-upside/>3 Tech Stocks Under $20 With Big Upside</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Under $20 With Big Upside

Janus Henderson Emerging Markets Fund Q2 2024 Commentary

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