Here’s What Analysts Had To Say About Sonic, Alphabet, Illumina, FireEye, and Shake Shack

The markets are quiet today as the Dow is up by just 23 points while both the NASDAQ and the S&P 500 are relatively flat. Among the stocks that are showing more volatility than the broader indexes are Sonic Corporation (NASDAQ:SONC), Alphabet Inc (NASDAQ:GOOG), FireEye Inc (NASDAQ:FEYE), Illumina, Inc. (NASDAQ:ILMN), and Shake Shack Inc (NYSE:SHAK). Let’s find out what Wall Street analysts had to say about each equity and check how elite funds were positioned among them in the fourth quarter.

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Sonic Corporation (NASDAQ:SONC) is 2% in the red after Lynne Collier of Canaccord downgraded the equity to ‘Hold’ from ‘Buy’, citing challenging sector sales, more competition from convenience stores, and the potential for the consensus estimate to be too high. The analyst has a $24 price target, down from the previous $30. Of the 742 elite funds in our database, 19 were long Sonic Corporation (NASDAQ:SONC) at the end of December, down 3 funds from the previous quarter.

Alphabet Inc (NASDAQ:GOOG) shares are off slightly after Brian Wieser of Pivotal Research lowered his rating on the search giant to ‘Hold’ from ‘Buy’. The analyst also trimmed his price target to $950 from the previous $970, citing valuation reasons given the stock’s recent rally. In addition, the analyst notes that the sixth largest media network, Havas, pulled some spending from YouTube in the U.K. due to Google being unable to provide assurances that their videos would be classified quickly enough. The analyst fears more U.K. brands could share the same concerns. 126 top funds had a bullish position in Alphabet Inc (NASDAQ:GOOG) at the end of December, down 8 funds from the previous quarter.

On the next page, we uncover what analysts had to say about FireEye Inc, Illumina Inc, and Shake Shack Inc.