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 in the news on Monday and the latest market situation, go to the 10 Trending Stocks Today.
5. Snowflake Inc. (NASDAQ:SNOW) has risen 7.36% as of 11:51 AM ET after the rating of the cloud-based data warehousing company was initiated by an Outperform rating with a target price of $250 by Alex Zukin at Wolfe Research. The target price reflects a potential upside of 55.3% from the previous closing price. The analyst thinks that Snowflake Inc. (NASDAQ:SNOW) has the potential to become the “fourth hyperscaler” and added that the firm is growing at a faster rate than Amazon Web Services (AWS). Zukin also stated that Snowflake Inc. (NASDAQ:SNOW) has the best management in the industry.
Out of the 924 hedge funds covered by Insider Monkey, 84 funds held a stake in Snowflake Inc. (NASDAQ:SNOW) as of Q4 2021.
4. The Coca-Cola Company (NYSE:KO) is 1.1% in the green as of 10:46 AM ET after the Atlanta, Georgia-based non-alcoholic beverages company reported better-than-expected revenue and EPS results for Q1 2022. The Coca-Cola Company (NYSE:KO) was helped by a rebound in demand along with higher prices for its goods. Net revenue increased by 16% YoY to $10.5 billion and surpassed consensus estimates of $9.83 billion comprehensively. Meanwhile, EPS was posted at 64 cents, six cents higher than the consensus forecast of 58 cents. The Coca-Cola Company (NYSE:KO) also revealed that its annual EPS would fall by four cents due to suspended operations in Russia. However, the company reiterated its annual EPS growth forecast of 5% to 6%.
As of Q4 2021, The Coca-Cola Company (NYSE:KO) was held by 70 hedge funds.
3. Deere & Company (NYSE:DE) is down 7.36% as of 11:53 AM ET after the Moline, Illinois-based farming, forestry, and heavy construction machinery manufacturer was downgraded from a Buy to a Neutral rating by Ross Gilardi at Bank of America. The price target on Deere & Company (NYSE:DE) was lowered from $475 to $450. In a research note issued to investors, the analyst highlighted that the recent farm equipment survey reflected a bullish sentiment, but the results should have been better. He shared that the dealers appear to be cautious due to fertilizer shortages.
Overall, Deere & Company (NYSE:DE) was held by 61 hedge funds as of Q4 2021.
2. Match Group, Inc. (NASDAQ:MTCH) has gained 6.56% as of 11:54 AM ET after speculation that the company could be a potential acquisition target for Facebook-parent Meta Platforms, Inc. (NASDAQ:FB). Match Group, Inc. (NASDAQ:MTCH) stock has lost over 40% of its value since the start of 2022. Traders are speculating that an activist investor can take a position in Match Group, Inc. (NASDAQ:MTCH) and be forced into the direction of getting acquired by a major social media company.
Of the 924 hedge funds in Insider Monkey’s database, Match Group, Inc. (NASDAQ:MTCH) was held by 53 funds as of Q4 2021.
1. Tesla, Inc. (NASDAQ:TSLA) has fallen 1.34% as of 11:55 AM ET after the update that the $46 billion bid presented by Tesla Inc’s CEO Elon Musk is expected to be accepted by Twitter, Inc. (NASDAQ:TWTR). This news has not been received positively by Tesla, Inc.’s (NASDAQ:TSLA) shareholders as they think that Musk will be distracted by the acquisition and would not be able to give due attention to Tesla, Inc. (NASDAQ:TSLA). Wedbush Securities has highlighted that the acquisition of Twitter would cause dilution in Musk’s ownership. However, his shares in Tesla, Inc. (NASDAQ:TSLA) could be pledged to obtain debt to finance the deal.
As of Q4 2021, Tesla, Inc. (NASDAQ:TSLA) was held by 91 hedge funds as of Q4 2021.
You can also take a peek at the Top 9 Stocks Billionaire Larry Robbins Just Added to His Portfolio and 10 Stocks to Buy According to Canyon Capital Advisors.
