7/8/2023 0 Comments Best space warfare stocks(NASDAQ: AMZN ) chief Jeff Bezos have invested billions in their own private space firms over the past decade. (NASDAQ: TSLA ) owner Elon Musk and, Inc. What is the Price Target for SQ Stock?įollowing Block’s results, Needham analyst Mayank Tandon reiterated a Buy rating on the stock but lowered his price target to $80 from $95, given the lower market valuations for stocks in the payments space.Investments in space exploration and human spaceflight firms have exploded in the past few years as the public sector interest in the area increases, the total cost of space launches comes down dramatically, and new advances in technology boost rapid growth in the industry. Meanwhile, Square, the company’s ecosystem focused on merchants, delivered a gross profit of $770 million, up 16% from the prior-year quarter.īased on the gross profit momentum in Q1, the company increased its full-year adjusted EBITDA outlook to $1.36 billion from the previous guidance of $1.30 billion. Cash App’s gross profit increased 49% to $931 million. Results gained from solid momentum in the company’s Cash App peer-to-peer ecosystem. The company shook off these concerns by reporting better-than-expected Q1 2023 results last week.Īdjusted EPS jumped 122% to $0.40 in Q1 2023, driven by a 26% rise in revenue to about $5 billion and enhanced margins. Shares of fintech Block declined sharply in March after short-seller Hindenburg Research accused the company of inflating the number of users on its Cash App system. The average price target of $202.15 suggests nearly 20% upside. Wall Street’s Moderate Buy consensus rating on Tesla is based on 15 Buys, 12 Holds, and four Sells. Until margins and other fundamentals start improving, Potter believes that TSLA might struggle to “catch a bid.” Nevertheless, he remains bullish on the stock and expects investors to turn around in the second half of the year and beyond. On the positive side, Potter thinks that the global average selling price (ASP) could fall by ~$125 per unit every quarter for the next two years without hurting margins due to production credits under the Inflation Reduction Act. While Potter agrees with management's view that margins will eventually rise due to software, he contends that this won't happen quickly enough to offset the near-term impact of lower prices, higher warranty costs, and slower inventory turnover. The analyst reduced his 2023-2025 estimates to reflect price cuts and their impact on margins. Is Tesla a Buy, Hold, or Sell?Įarlier this month, Piper Sandler analyst Alexander Potter lowered his price target to $280 from $300 but reiterated a Buy rating. Nonetheless, prices remain lower than the levels seen at the start of this year. Musk expects Tesla’s vehicles to generate significant profit over time through its autonomy feature.įollowing multiple price cuts, Tesla recently hiked the prices of several cars in the U.S., Canada, China, and Japan. The company also cited underutilization of new factories, higher raw material, commodity, logistics, and warranty costs, and lower revenue from environmental credits as the reasons for margin contraction.ĭuring the Q1 earnings call CEO Elon Musk justified the company’s pricing strategy, saying that a focus on higher volumes and a larger fleet is the “right choice” than lower volumes and higher margins. Investors were unimpressed with Tesla’s first-quarter performance, as the company’s earnings declined due to the impact of price cuts on margins. The average price target of $69.74 implies about 25% upside. Wall Street’s Moderate Buy consensus rating on Roku is based on 11 Buys, seven Holds, and three Sells. Given headwinds from slowing ad spend by subscription video on demand (SVOD) providers and higher “scatter market exposure,” Helfstein expects Roku to be one of the first beneficiaries of any recovery in the ad market. Explaining his investment stance, the analyst stated that platform revenue has stabilized, with upcoming tailwinds from advertisers, agencies, retail media, and DSP integrations. Is Roku a Good Stock to Buy?įollowing the Q1 results in late April, Oppenheimer analyst Jason Helfstein maintained a Buy rating on Roku stock but lowered his price target to $75 from $85. The company expects advertising spend to remain under pressure throughout this year due to macro challenges. The average revenue per user (ARPU) declined 5% year-over-year to $40.67.
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