In this article, we take a look at five stocks that are trending today. If you want to take a look at some more stocks that are on our watchlist and the latest market situation, go to 10 Stocks to Watch on Thursday.
5. PTC Inc. (NASDAQ:PTC) is 16.38% in the green as of 12:14 PM ET after the Boston, Massachusetts-based software company received a Buy rating from Matthew Broome at Mizuho. The analyst termed PTC Inc.’s (NASDAQ:PTC) Q2 2022 results as “good” and increased the target price from $125 to $135. Broome anticipates PTC Inc.’s (NASDAQ:PTC) core products to continue to drive strong overall performance, particularly as the firm is evolving as a software-as-a-service (SaaS) operating model.
Out of the 924 hedge funds tracked by Insider Monkey, PTC Inc. (NASDAQ:PTC) was held by 31 hedge funds as of Q4 2021.
4. Pinterest, Inc. (NYSE:PINS) is up 3.35% as of 12:16 PM ET after the San Francisco, California-based image sharing and social media company reported mixed results for Q1 2022. Pinterest, Inc. (NYSE:PINS) was able to outperform the revenue forecasts but missed earnings estimates for the quarter. Following the quarterly results, Thomas Champion at Piper Sandler maintained an Overweight rating on Pinterest, Inc. (NYSE:PINS). The analyst termed this as a constructive quarter for Pinterest, Inc. (NYSE:PINS) and considers the company one quarter away from a turn in user trajectory.
According to Insider Monkey’s proprietary data, Pinterest, Inc. (NYSE:PINS) was held by 57 hedge funds as of Q4 2021.
3. Peabody Energy Corporation (NYSE:BTU) has slumped 8.60% as of 12:16 PM ET after St. Louis, Missouri-based coal mining company reported a $301 million charge related to its coal-hedging operations during Q1 2022. Peabody Energy Corporation (NYSE:BTU) reported a loss of $119.5 million, compared to $80.1 million during the same quarter last year. The higher loss comes at a time when the global demand for coal has risen due to the Russia-Ukraine conflict.
As of Q4 2021, Peabody Energy Corporation (NYSE:BTU) was held by 28 hedge funds. Elliott Management is the leading investor in Peabody Energy Corporation (NYSE:BTU), with a stake worth over $260 million.
2. PayPal Holdings, Inc. (NASDAQ:PYPL) has ascended 4.39% as of 12:14 PM ET after the San Jose, California-based operator of an online payment system reported new targets that were “seen as achievable.” Following the results, Christopher Donat at Piper Sandler revealed that investors are relieved that PayPal Holdings, Inc.’s (NASDAQ:PYPL) management reset the guidance bar lower as the firm is expected to face a tough environment in Europe and relative weakness in e-commerce activity due to rising inflation. The analyst believes that PayPal Holdings, Inc. (NASDAQ:PYPL) is in a position to become a Super App in the financial services sector.
Of the 924 hedge funds in Insider Monkey’s database, PayPal Holdings, Inc. (NASDAQ:PYPL) was held by 110 hedge funds as of Q4 2021.
1. Avnet, Inc. (NASDAQ:AVT) has increased 11.04% as of 12:17 PM ET after the Phoenix, Arizona-based distributor of electrical components reported better-than-expected results for Q3 FY22. Revenue increased by 31.9% YoY to $6.49 billion and outperformed the consensus estimate of $5.71 billion. Meanwhile, the non-GAAP EPS was posted at $2.15 and beat the analysts’ estimate of $1.54. For Q4 FY2022, Avnet, Inc. (NASDAQ:AVT) anticipates revenue to be in the range of $6 billion to $6.4 billion as opposed to the consensus estimates of $5.78 billion. Moreover, Avnet, Inc. (NASDAQ:AVT) has given a diluted EPS guidance of $1.90 to $2, compared to the analysts’ forecast of $1.50.
At the end of Q4 2021, Avnet, Inc. (NASDAQ:AVT) was held by 27 hedge funds, up from 25 in the preceding quarter.
You can also take a peek at the 10 Best Stocks to Buy Now According to Billionaire David Harding and 10 Stocks to Buy in April According to Jim Cramer.
