Analysts Just Slashed Their Price Targets on These 10 Stocks

8. Advanced Micro Devices (NASDAQ:AMD)

Average Upside Potential: 30%

Number of Hedge Fund Holders: 164

BofA lowered its price target on AMD to $650 from $720 on November 4, even though it raised its 2027 and 2028 earnings estimates. It cited “the recent contraction in sector multiples,” so the business outlook improved while the multiple it will pay for chip stocks fell. Mizuho kept an Outperform rating the same day but cut its target to $610 from $705, the largest cut we found among the major firms.

The business itself is growing quickly. Revenue was $13.4 billion, up 45%. AMD’s data center sales rose 97% last quarter to $8.5 billion, which is 64% of total sales. Adjusted earnings per share of $2.09 beat the $1.95 analysts expected, and CEO Lisa Su said she expects revenue to grow more than 80% in 2027. The stock still fell about 17% in the chip selloff that followed, even though BofA was raising its earnings estimates at the same time.

AMD sells processors for PCs and servers along with AI accelerators. We wrote about its premium valuation in our piece on how execution looks under the microscope at that price.

7. Microchip Technology (NASDAQ:MCHP)

Average Upside Potential: 45%

Number of Hedge Fund Holders: 81

Truist maintained a Hold on Microchip Technology  on November 6 and cut its price target to $62 from $90. The same day, Evercore ISI analyst Mark Lipacis lowered his target to $75 from $117. The notes point to the same two problems: supply limits and a reset in expectations after the quarter.

Those calls followed the company’s latest report. Sales grew 42.2% from a year earlier and beat the company’s own guidance, but guidance for the December quarter was $1.573 billion to $1.638 billion, and the stock fell about 10% the next day. CEO Steve Sanghi said AI customers have absorbed foundry and packaging capacity, so lead times on standard parts now run as long as 32 weeks, against a normal four to eight. About $53 million of that quarter’s sales came from one-time items, which explains part of the step-down in guidance.

Microchip makes microcontrollers for cars, factory equipment and appliances, and data centers are a minority of its sales. Its Hailo acquisition and edge AI push are covered in our look at why it is buying edge AI on the cheap.

6. Atlassian (NASDAQ:TEAM)

Average Upside Potential: 47%

Number of Hedge Fund Holders: 48

Truist analyst Miller Jump kept a Buy rating on Atlassian but cut his price target to $200 from $250. He said strong first-quarter execution was “overshadowed by cautious guidance,” and he questioned how durable cloud growth and margins will be as AI investments scale. He now models cloud growth settling in the low-to-mid 20% range over time. Wells Fargo stayed at Overweight on November 6 and lowered its target to $200 from $270.

Both cuts followed the outlook. Atlassian forecast fiscal 2027 revenue of $7.5 billion, above the $7.4 billion analysts expected, and its adjusted operating margin of 32% beat the 28.6% expected. But it guided cloud growth to 27% next quarter from 30.5%, and fiscal 2027 subscription ARR growth of about 18.5%, versus 23% in the first quarter. The stock fell about 16%. Truist still pointed to renewals, pricing and seat expansion as near-term supports.

Atlassian’s Jira and Confluence tools help software teams plan and track work. Our analysis of its valuation and AI bet looks at whether new AI features can carry growth as the older business slows.

5. Coinbase (NASDAQ:COIN)

Average Upside Potential: 49%

Number of Hedge Fund Holders: 62

Morgan Stanley analyst Michael Cyprys downgraded Coinbase to Underweight from Equal Weight on November 2 and cut his price target to $120 from $258. “Confidence in the earnings recovery has deteriorated,” he wrote, since trading, which drives most of Coinbase’s earnings, looks set to recover more slowly than he expected.

Third-quarter revenue fell 35% from a year earlier, and October activity put fourth-quarter transaction revenue on pace to land at roughly $607 million, 11% below what analysts expected. He also cited uncertainty after a security breach at rival exchange Binance, which he said could weigh on confidence in centralized crypto platforms. He cut his 2027 revenue forecast by 28% and his 2028 forecast by 18%, lowered his adjusted EBITDA estimates by 47% and 25% for those years, and described the outlook as a less pronounced recovery than before. Coinbase shares fell about 4% that day.

Cyprys still ranks Coinbase among the best-positioned crypto platforms, so his objection is about earnings and valuation, not execution. How the company is leaning on institutions as retail activity weakens is covered in our analysis of its shift toward institutional clients.