Benzinga’s “Daily Brief On Trending Tickers” highlights top-searched tickers from around the web and uses the Benzinga Pro platform to highlight recent news items possibly impacting those stocks.
The data on the trending tickers is compiled from a list of most-discussed tickers on the popular Reddit forum WallStreetBets.
Alibaba Group Holding Ltd - ADR (NYSE:BABA) shares are trading higher during Thursday’s morning session after Alibaba reported fourth-quarter FY21 revenue growth of 9% year-on-year to $32.19 billion, beating the consensus estimate of $29.94 billion. Non-GAAP earnings per ADS of $1.25 beat the consensus of $1.10.
Baird analyst Colin Sebastian maintained Alibaba with a Buy rating and lowered the price target from $160 to $144.
NVIDIA Corporation (NASDAQ:NVDA) shares are trading lower during Thursday’s morning session after the tech giant said first-quarter revenue grew 46% year-over-year but issued guidance below analyst consensus. Nvidia said it expects second-quarter revenue of $8.1 billion, plus or minus 2%, versus the estimate of $8.45 billion.
Keybanc analyst John Vinh maintained Nvidia with an Overweight rating and lowered the price target from $310 to $250.
Baidu Inc (NASDAQ:BIDU) shares traded higher during Thursday’s premarket session after Baidu reported first-quarter FY22 revenue growth of 1% year-on-year to $4.48 billion, beating the consensus of $4.18 billion.
JPMorgan analyst Alex Yao upgraded Baidu to a Hold rating and raised the price target from $90 to $125.
Snowflake Inc (NYSE:SNOW) shares plummeted over 10% on Thursday morning after the company reported financial results and issued second-quarter guidance below analyst estimates.
Snowflake said it expects fiscal second-quarter revenue to be between $435 million and $440 million versus the estimate of $466.15 million. The company expects full-year 2023 revenue to be between $1.885 billion and $1.9 billion versus the $2.03 billion estimates.
Piper Sandler analyst Brent Bracelin maintained Snowflake with an Overweight rating and lowered the price target from $300 to $165.
Broadcom Inc (NASDAQ:AVGO) shares are near flat on Thursday morning as investors have yet to respond to Broadcom’s announcement that it would acquire Vmware Inc (NYSE:VMW) in a cash-and-stock transaction that values the multi-cloud company at approximately $61 billion.
Truist Securities analyst William Stein maintained Broadcom with a Strong Buy rating and lowered the price target from $686 to $657.
Macy's Inc (NYSE:M) shares flew 15% higher on Thursday morning after the company reported first-quarter sales growth of 13.6% year-on-year to $5.35 billion, beating the Street estimates of $5.33 billion. Macy’s also issued second-quarter guidance above Street expectations.
JPMorgan analyst Matthew Boss maintained Macy’s with a Hold rating and lowered the price target from $33 to $30.
GameStop Corp. (NYSE:GME) shares are flat Thursday morning after GameStop committed to major discounts for Sony Group Corp’s (NYSE:SONY) PlayStation “Days of Play” event. On offer are GameStop discounts on select PlayStation 4 and 5 games such as “Uncharted: Legacy of Thieves” and “MLB The Show 22.”
Twitter Inc (NYSE:TWTR) shares popped 4% higher Thursday morning after Elon Musk said he committed an additional $6.25 billion in equity financing to fund a portion of the acquisition of the social media platform.
Jeffries analyst Brent Thill maintained Twitter with a Hold rating and lowered the price target from $48 to $40.
