Analysts at Stifel GMP said they retain their positive outlook on cannabis producer TerrAscend after it reported first quarter results mostly in-line with expectations.
For the first quarter, TerrAscend posted revenue of $69.4 million, up from $48.6 million in the same quarter in 2022, and a net loss from continuing operations of $19.2 million, compared to $13.8 million in the year-ago quarter.
Analysts at Oppenheimer hiked their price target on Trade Desk Inc (NASDAQ:TTD)’s shares to $80 from $75 on “full-funnel return on investment benefits” driving share gains.
There’s plenty of upside as Trade Desk shares currently trade for around $63.38 on the Nasdaq.
DocGo delivered what analysts at Canaccord called “mixed” results, but that was enough for the firm to reiterate its Buy rating and $13 price target.
“At first glance, DocGo's 1Q results can be seen as mixed,” analysts wrote. “Revenue beat our and consensus estimates, decreasing ~4% year-over-year, though grew ~40% when excluding Covid testing revenue.
Keywords Studios PLC (AIM:KWS, OTC:KYYWF), the video game developer, believes that the use of AI in its industry will provide a net positive, according to a keynote from Thursday.
The company, which helps other video game developers create all manners of content, argued artificial intelligence can help push projects down more complex paths while increasing the frequency of new game releases.
Alphabet’s annual developer conference, Google I/O, impressed analysts at Oppenheimer enough to earn the company an 'Outperform' rating and a price target of $145.
The May 10 event focused on how the company is integrating artificial intelligence into its products.
Beyond Meat shares tumbled Thursday following the company’s first-quarter results, which analysts at Barclays called an improving performance.
Even though sales beat the firm’s estimates, Barclays reiterated its Underweight rating and $10 price target in a note titled "One step in the right direction."
Analysts at Stifel GMP have repeated their ‘Buy’ rating for Trulieve Cannabis with a lowered price target after the multi-state operator posted mixed first quarter results.
For the quarter ended March 31, 2023, Trulieve posted revenue of $289 million, down from $318 million in the year-ago quarter, and a net loss of $64 million, up from a loss of $32 million in 1Q 2022.
PayPal Holdings delivered impressive first quarter results thanks to a rebound in e-commerce growth compared to the previous quarter's low levels.
The fintech company surpassed expectations across various operating and volume metrics, according to analysts.
Analysts at Stifel GMP have reiterated their ‘Buy’ rating for CareRx Corporation (TSX:CRRX), a leading provider of specialty pharmacy services to seniors in Canada, on their view that the company can navigate near-term challenges such as a tight labor market for pharmacists following the release of its first quarter results.
For 1Q, CareRx posted a 2% year-over-year decrease in revenue to $91.4 million and a 21% drop in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to $6.8 billion. However, it narrowed its net loss by 22% to $2.1 million.
Keywords Studios, the video game services specialist, jumped 6% as broker Shore Capital upgraded to “buy” following its acquisition of Seattle-based Hardsuit Labs.
“The deal appears to be in a classic sweet spot, in terms of size and potential, where KWS has typically been able to add value, and further, it is consistent with management’s previously set-out growth strategy,” Shorecap said.
BigCommerce is a “show me” stock, according to analysts at Canaccord Genuity (TSX:CF, LSE:CF).
The firm maintained its Buy rating, but lowered its price target to $10 from $12, noting that the ecommerce company’s first quarter results “fine, not great,” in a note to clients.
BioNTech is facing a weak second quarter of 2023 as demand for Covid vaccines wane throughout the warmer summer months.
Analysts at Canaccord have noted the drug maker’s “seasonal administration pattern” that favors the fall.
Analysts at PI Financial have initiated coverage on Nouveau Monde Graphite (TSX-V:NOU) (NOU), a first mover in the anode material supply chain for battery manufacturers.
The analysts awarded NOU a ‘Buy’ rating and C$8.50 price target, representing a significant upside on the stock’s current price of C$4.90.
Barrick Gold Corp’s first-quarter results were enough for analysts at Canaccord to keep their faith in the long-term potential of its stock.
The firm reiterated its 'Buy' rating and C$33 price target in a note published Monday.
WELL Health Technologies Corp (TSX:WELL, OTCQX:WHTCF) shareholders could be looking forward to some M&A activity in 2023, analysts at PI Financial believe.
In a note ahead of the health company’s first-quarter 2023 earnings release, PI Financial analysts said they expect WELL to outperform expectations of C$158.9 million and adjusted EBITDA of C$23.9 million for the three-month period to end March 31, 2023.
The reported activist campaign by billionaire activist investor Nelson Peltz against Estée Lauder is unlikely to bring board changes but could spark operating changes, according to analysts at Canaccord Genuity (TSX:CF, LSE:CF).
Sources told the New York Post that Peltz was exploring a possible shakeup of the cosmetics giants, including potentially ousting its long-time CEO Fabrizio Freda, a cost-cutting campaign, or pushing for the sale of the company.
Jamieson Wellness has earned a repeat ‘Buy’ rating from analysts at Canaccord Genuity (TSX:CF, LSE:CF) after posting a first-quarter earnings beat.
For the quarter, the Canadian manufacturer, distributor, and marketer of natural health products reported earnings per share of $0.21 on revenue of $136.7 million, topping the analysts’ estimates of earnings per share of $0.18 on revenue of $125.8 million.
Tesla Inc (NASDAQ:TSLA) could be finished with the “price discovery” phase of its recent pricing strategy, according to analysts at Canaccord Genuity (TSX:CF, LSE:CF).
Earlier in May, the electric vehicle manufacturer raised its prices for the second time in less than two weeks in the United States and other markets after cutting prices six times since the beginning of 2023.
Shockwave Medical Inc has upped its full-year 2023 guidance after its revenue beat across all of its product segments during its first quarter.
The medical product company saw its revenue increase by 72% year-over-year to reach $161.1 million, ahead of consensus estimates of $147.3 million.
Analysts at Canaccord Genuity (TSX:CF, LSE:CF) have upped their price target for Draftkings Inc (NASDAQ:DKNG) after the sports gambling company hit a home run with its first quarter results.
The analysts noted that DraftKings’ 1Q revenue and profitability had both come in well ahead of consensus expectations as investments over recent years to improve its technology platform and build brand awareness drove market share gains.
Analysts at Canaccord Genuity (TSX:CF, LSE:CF) have reiterated their ‘Speculative Buy’ rating for MindMed (NASDAQ:MNMD, NEO:MMED) after the clinical-stage biotechnology company reaffirmed its budgets and clinical timelines with the release of its first quarter results.
“As a clinical-stage biotechnology company, quarterly financials are not a materially impactful event,” the analysts wrote in a note to clients.“More important is the commentary around clinical development.”
With the drop in lithium prices plateauing after pulling back to lows not seen since 2021, there is the potential for opportunistic mergers and acquisitions (M&A) in the lithium industry, according to analysts at Stifel GMP.
In a note to clients, the analysts wrote that many factors were currently colliding within the electric vehicle (EV) verticals, starting with the negative rate of change on lithium pricing in China plateauing for the first time since November 2022.