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☆ These Nasdaq stocks are already in a bear market, including Tesla and Airbnb
▼ + stars: | 2023-10-26 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

CNBC Pro recently screened for a list of these stocks, shown here: The list of names includes Tesla, which is down 29% from its 52-week high in July. Even Morgan Stanley's Adam Jonas, who has an outlier overweight position on the stock, trimmed his price target to $380 from $400. Another name on the list was Enphase Energy , which is down 72.2% from its 52-week high on Dec. 5. Dollar Tree is off 36% from its 52-week high in November 2022. The accompanying price target of $137 corresponds to a potential 26.5% upside from Wednesday's close.

Persons: Morgan Stanley's Adam Jonas, Bernstein's Toni Sacconaghi, Tesla, Justin Patterson, SolarEdge, Enphase, Goldman Sachs, Michael Bloom Organizations: Nasdaq, it's, CNBC Pro, Wall, KeyBanc Capital, Enphase Energy, Daiwa

☆ Goldman analysts say these stocks have the most downside potential
▼ + stars: | 2023-10-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Western Digital and Intel are up by double digits in 2023, but Goldman Sachs says these shares may see sharp declines. But even given this optimism, Goldman believes some stocks are bound to fall. In a recent note, the firm detailed several stocks that have the most downside potential based on Goldman's respective target prices. This summer, Western Digital issued weak guidance for its fiscal first quarter, calling for a loss ranging between $2.10 and $1.80 per share, excluding items. The firm sees a descent of more than 14% for the lodging stock, a sharp turn from its 49% year-to-date gain.

Persons: Goldman Sachs, David Kostin, Goldman, FactSet, Justin Patterson, Northrop, — CNBC's Michael Bloom Organizations: Western Digital, Intel, Chief, KeyBanc, Northrop Grumman, APA, Hormel Locations: Airbnb

☆ KeyBanc downgrades Airbnb, says travel demand will ease after pandemic recovery
▼ + stars: | 2023-10-03 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to step to the sidelines on shares of Airbnb as the Covid-19 pandemic recovery bump fades, according to KeyBanc Capital Markets. ABNB 1D mountain Airbnb "Our call is that leisure travel has experienced a material recovery from 2021-2023E, resulting in outsized margin expansion, " Patterson wrote in a Monday note. "As these tailwinds fade, we see elevated risk to [room nights and experiences] and [average daily rate] growth." Airbnb has outperformed this year as a resilient consumer shelled out money for travel and experiences. "We believe this could create an overhang on shares as ABNB transitions from a growth to GARP investor base," Patterson said.

Persons: Justin Patterson, Patterson, Airbnb, — CNBC's Michael Bloom Organizations: KeyBanc, Markets Locations: Airbnb, New York City

☆ This mega-cap tech hitting a 52-week high is proving to be the next big AI play after Nvidia
▼ + stars: | 2023-08-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Alphabet shares hit a 52-week high Tuesday after showcasing its AI and machine learning capabilities at its annual Cloud Next event. Bank of America's Justin Post said the search company was "flexing its AI muscle," adding that its AI capabilities are a major customer selling point and should be a positive driver for the stock. Along with the hardware updates, Alphabet revealed pricing for a suite of AI-powered tools for enterprise customers. At $30 a month, Citi's Ronald Josey called the contribution "material over time," and said the event should mitigate any "remaining overhangs" on Google's Cloud AI capabilities. Correction: Google shares recently hit a 52-week high.

Persons: Morgan Stanley, Brian Nowak, Nowak isn't, Bank of America's Justin Post, Citi's Ronald Josey, Justin Patterson, Doug Anmuth Organizations: Nvidia, Microsoft, Bank of America's, KeyBanc Capital, Google

☆ Meta's Threads could take years to ramp up monetization, says KeyBanc's Justin Patterson
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta's Threads could take years to ramp up monetization, says KeyBanc's Justin PattersonJustin Patterson, KeyBanc senior analyst, joins 'Squawk on the Street' to discuss when Meta will be able to monetize Threads, the usual ramp-up time for Meta product monetization, and how Patterson views Meta's stock at current levels.

Persons: KeyBanc's Justin Patterson Justin Patterson, KeyBanc, Patterson Organizations: Meta

☆ Meta shares could rise nearly 20% ahead of an ad market recovery, KeyBanc says
▼ + stars: | 2023-03-22 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to buy Meta shares ahead of an advertising market recovery, KeyBanc said. "Our view is that companies with product cycles ... and a combination of expense discipline/operational improvement/controversy (META, GOOGL, PINS) stand best positioned to benefit from an eventual recovery," Patterson wrote to clients on Tuesday. META 1Y mountain Meta shares 1-year Meta shares surged 67% this year after falling 64% in 2022. However, the analyst's $240 price target means Meta shares could jump another 18% from Tuesday's closing price of $202.16. "We believe companies making aggressive cost cuts while investing judiciously in future growth opportunities are well positioned for the cycle," Patterson wrote.

☆ Analysts bail on Lyft after latest earnings, say Uber is cementing its place as leader
▼ + stars: | 2023-02-10 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Lyft shares fell more than 30% during Friday premarket trading as traders weighed a weaker-than-expected forecast from the ridesharing company in its most recent earnings report. LYFT 1D mountain Lyft shares tumble For market observers on Wall Street, that was hardly a good enough explanation. As of Thursday's close, Lyft shares jumped more than 47%, following a 74% drop in 2022. While the analyst did not have a price target available, his previous target in January was $24 for the stock. Lastly, Loop Capital's Rob Sanderson downgraded Lyft to hold from buy, and dropped the price target to $10 from $17.

☆ KeyBanc upgrades Lyft, says stock can rally more than 50% as demand stabilizes
▼ + stars: | 2023-01-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Lyft shares could see big gains as the ride-share company cuts costs and sees demand stabilize, KeyBanc said. Analyst Justin Patterson upgraded the stock to overweight from sector weight. He also set a price target of $24, implying an upside of 55.7% over Monday's close. He also Lyft's cost-cutting actions including a 13% reduction in workforce in early November helped drive EBITDA upside. He said there's upside to current estimates due to money-saving initiatives and a recovery in the U.S. west coast market.

☆ KeyBanc upgrades Bumble, says shares can rally more than 30% as consumers continue turning to online dating
▼ + stars: | 2023-01-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

It's time for investors give shares of Bumble a little more love, according to KeyBanc Capital Markets. Analyst Justin Patterson upgraded shares of the mobile dating company to overweight from a sector weight rating, citing increasing conviction in Bumble's ability to capitalize on online dating trends. As demand for online dating holds up, Patterson expects the company to benefit from further expansion in international markets, moderating foreign exchange headwinds and growth within its compliments offering. "We believe Bumble is benefiting from a secular trend toward online dating globally, and a search for more meaningful relationships," Patterson said. "By focusing deeply on product, brand, and trust and safety, we believe Bumble has created a business that can garner a meaningful user base across geographies."

☆ Roku's 'lack of profitability' justifies a discount to its peers, KeyBanc says in downgrade
▼ + stars: | 2022-11-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Roku faces a challenging road to profitability, according to KeyBanc Capital Markets. The firm downgraded shares of the beaten-up streaming stock to sector weight from overweight in a note to clients Monday. Patterson noted that Roku's 2023 and 2024 enterprise value-to-sales multiples of 1.9 times and 1.6 times are well below peer expectations and historic averages of 3.7 times and 3.2 times, respectively. "However, we believe share losses and lack of profitability warrant a discount vs. peers," he said. The firm adjusted fourth-quarter estimates and 2022 to 2024 revenue, gross profit and EBIDTA estimates to reflect its sentiment shift.

☆ Wall Street analysts are worried about Meta as it plans to spend even more money on the metaverse
▼ + stars: | 2022-10-27 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Meta 's third-quarter results have Wall Street analysts split on the struggling tech stock. Morgan Stanley's Brian Nowak downgraded shares of Meta to equal weight from overweight after the results , and slashed its price target to $105 from $205. Cowen's John Blackledge downgraded Meta to market perform from outperform, and lowered his price target to $135 from $205 prior, citing the higher opex and capex trajectory. JPMorgan's Doug Anmuth slashed his Meta price target to $115 per share from $180, noting that it's unclear when the Facebook parent will see a return on its big metaverse and AI investments. Meanwhile, AllianceBernstein's Mark Shmulik, who maintained an outperform rating while lowering the price target to $135 from $195, said the "shocking cost guidance overshadows reasonable core."

☆ Meta shares plunge 23% on downgrades, missed earnings and big spending on metaverse
▼ + stars: | 2022-10-27 | by ( Sofia Pitt | ) www.cnbc.com time to read: +1 min

Shares of Meta plunged 23% in premarket trading Thursday as investors and analysts digested the company's third-quarter earnings miss and a weak fourth-quarter outlook. The parent company of Facebook reported quarterly revenue of $27.7 billion Wednesday, a decline of more than 4% year over year and its second straight quarterly decline. Meta CEO Mark Zuckerberg reiterated his commitment to spending billions of dollars developing the metaverse. He expects the company's issues to persist as Meta continues to increase spending to build out its AI capabilities. Since the start of the year, Meta shares are down by more than 61%.

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