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Analysts Are Revising Price Targets of These 10 Stocks Post Earnings

In this article, we will discuss the 10 stocks that recently received updated price targets from analysts post earnings. If you want to see more such stocks on the list, you can directly visit Analysts Are Revising Price Targets of These 10 Stocks Post Earnings.

Entertainment giant The Walt Disney Company (NYSE:DIS), ride-hailing service Uber Technologies, Inc. (NYSE:UBER) and fintech company Fiserv, Inc. (NASDAQ:FISV) made their way into the headlines after posting financial results for their respective quarters.

The three companies managed to exceed profit estimates. Meanwhile, analysts continue to respond to the latest quarterly performance of these stocks. Both Uber Technologies, Inc. (NYSE:UBER) and Fiserv, Inc. (NASDAQ:FISV) received revised price targets from analysts after their recent earnings.

In addition, analysts also updated their price targets for ZoomInfo Technologies Inc. (NASDAQ:ZI) and Tyson Foods, Inc. (NYSE:TSN) following their latest quarterly results. Check out the complete article to find the details of these price actions.

Source:Pixabay

10. Intapp, Inc. (NASDAQ:INTA)

Number of Hedge Fund Holders: 4

Truist lifted its price target for Intapp, Inc. (NASDAQ:INTA) from $32 per share to $38 per share on Tuesday, February 7. The research firm was primarily moved by the cloud-based software solutions provider’s impressive earnings and outlook.

Intapp, Inc. (NASDAQ:INTA) on Tuesday surprised investors by reporting a profit of 3 cents per share for its fiscal Q2, contrary to analysts’ average estimate for a loss of 3 cents. In addition, revenue for the quarter climbed 31 percent on a year-over-year basis to $84.7 million, beating expectations of $80.40 million.

Looking forward, Intapp, Inc. (NASDAQ:INTA) expects adjusted earnings in the range of 2 – 6 cents per share and revenue between $340.5 – $344.5 million for its fiscal 2023.

9. Simpson Manufacturing Co., Inc. (NYSE:SSD)

Number of Hedge Fund Holders: 24

Shares of Simpson Manufacturing Co., Inc. (NYSE:SSD) jumped to a nearly 10-month high on Tuesday, February 7, after beating earnings expectations for the fourth quarter. The building materials producer reported earnings of $1.35 per share, beating the consensus of $1.03 per share.

Revenue came in at $475.6 million, up 13.6 percent on a year-over-year basis and above the expectations of $475.72 million. Simpson Manufacturing Co., Inc. (NYSE:SSD) also disclosed its region-wise sales performance.

The company’s North America revenue slipped 1.4 percent to $368.1 million amid lower sales volume. In comparison, Europe revenue skyrocketed 150.3 percent to $103.7 million in the quarter.

For the current fiscal year, Simpson Manufacturing Co., Inc. (NYSE:SSD) guided for an operating margin in the range of 18 – 20 percent.

Subsequently, DA Davidson lifted its price target for Simpson Manufacturing stock from $90 per share to $120 per share on February 7, citing its Q4 results and 2023 operating margin guidance.

8. Tyson Foods, Inc. (NYSE:TSN)

Number of Hedge Fund Holders: 35

Tyson Foods, Inc. (NYSE:TSN) recently received a price target cut from BofA after posting disappointing financial results for its fiscal first quarter and a weak outlook for the full year. The research firm trimmed its price target for TSN stock from $62 per share to $56 per share on Tuesday, February 7.

The chicken, pork, and beef producer earned 85 cents per share on an adjusted basis, down 70 percent on a year-over-year basis and well below the consensus of $1.36 per share. In addition, Tyson Foods, Inc. (NYSE:TSN) posted revenue of $13.260 billion, compared to $12.933 billion in the year-ago period and behind the expectations of $13.52 billion.

Looking forward, Tyson Foods, Inc. (NYSE:TSN) expects to generate revenue in the range of $55 – $57 billion for its fiscal 2023. The outlook compares to the consensus of $55.2 billion.

7. LyondellBasell Industries N.V. (NYSE:LYB)

Number of Hedge Fund Holders: 38

RBC Capital increased its price target for LyondellBasell Industries N.V. (NYSE:LYB) from $94 per share to $99 per share on Tuesday, February 7, following its Q4 results.

While analyst Arun Viswanathan acknowledged the macroeconomic uncertainty, he pointed towards stable demand and several potential tailwinds in the coming quarters. Viswanathan has a “Sector Perform” rating for LyondellBasell Industries N.V. (NYSE:LYB).

LyondellBasell Industries N.V. (NYSE:LYB) last week announced mixed results for the fourth quarter. The chemical company reported adjusted earnings of $1.29 per share on revenue of $10.2 billion. This compares to analysts’ average estimate of $1.22 per share for earnings and $10.7 billion for revenue.

Like LyondellBasell Industries N.V. (NYSE:LYB), analysts also recently revised their price targets for Uber Technologies, Inc. (NYSE:UBER), Fiserv, Inc. (NASDAQ:FISV) and ZoomInfo Technologies Inc. (NASDAQ:ZI).

6. Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

 Number of Hedge Fund Holders: 44

Several research firms cut their price targets for Neurocrine Biosciences, Inc. (NASDAQ:NBIX) on Tuesday, February 7. The latest price actions came despite the better-than-expected quarterly performance of the biopharmaceutical company.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) earned $1.24 per share in the fourth quarter, significantly higher than 4 cents per share in the year-ago period. The numbers were also above the consensus of $1.14 per share.

Subsequently, Piper Sandler lowered its price target for Neurocrine Biosciences, Inc. (NASDAQ:NBIX) from $103 per share to $95 per share, citing “tepid” operating leverage for the current fiscal year. In addition, Barclays slashed its price target for NBIX stock from $136 per share to $131 per share, while Citi decreased its price target from $133 per share to $131 per share.

Click to continue reading and see Analysts Are Revising Price Targets of These 5 Stocks Post Earnings.

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Disclosure: None. Analysts Are Revising Price Targets of These 10 Stocks Post Earnings is originally published on Insider Monkey.

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At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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  • 175 Teslas
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