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☆ Buy these five stocks ahead of earnings before it's too late, Bank of America says
▼ + stars: | 2024-04-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

CNBC Pro combed through Bank of America research to find the firm's favorite buy-rated stocks ahead of company earnings. They include: CoStar Group, Fidelity National Information Services, Cisco, Home Depot and Adobe. Bank of America upgraded the stock to buy from neutral earlier this week, citing several positive catalysts. "A growth company buying a growth company," he said of the deal. Home Depot "A growth company buying a growth company.

Persons: Tal Liani, Liani, Robert Ohmes, Ohmes, Jason Kupferberg, Kupferberg Organizations: Bank of America, CNBC, Fidelity National Information Services, Cisco, Home, Adobe, Cisco Time, Home Depot, Fidelity National Information, FIS Locations: Bank, Atlanta, buybacks

☆ Wall Street cheers Coinbase after its first quarterly profit in 2 years, but skepticism lingers
▼ + stars: | 2024-02-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

Wall Street is celebrating Coinbase after the crypto exchange operator posted its first quarterly profit in two years. Late Thursday, Coinbase posted earnings of $1.04 per share on $954 million of revenue for the fourth quarter. "Happy days are here again" for Coinbase, as Raymond James put it, but it's not clear for how long. "That said, we maintain our U/P rating given crypto market unpredictability, lack of revenue diversification, valuation, and continued legal overhang." JPMorgan, neutral, PT $95 "Management calls spot bitcoin ETFs [a] net positive but, we're still unconvinced," said JPMorgan's Kenneth Worthington.

Persons: Coinbase, haven't, bitcoin, Raymond James, Goldman Sachs, Goldman, Will Nance, revs, Jason Kupferberg, Benjamin Budish, EBITDA, underperform, Patrick O'Shaughnessy, we're, Kenneth Worthington, Keefe, KBW's Kyle Voigt, Oppenheimer, Owen Lau, Devin Ryan, Needham, John Todaro, Canaccord, Joseph Vafi, Michael Bloom Organizations: LSEG, U.S . Securities, Exchange Commission, " Bank of America, Bank of America, Barclays, JPMorgan, Management, SEC, Coinbase's, BTC Locations: U.S, Coinbase, Needham

☆ These stocks have upside heading into earnings ahead, Bank of America says
▼ + stars: | 2024-02-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

CNBC Pro combed through Bank of America research to find attractive stocks heading into earnings. Global Payments Analyst Jason Kupferberg is doubling down on shares of the payment processing company heading into earnings on Feb. 14 . "If executed well, we still think integrations between ESPN's media app and ESPN Bet could drive sustainable high-single-digit market share," he said. "We are Buy rated on PENN given stable regional gaming trends and upside opportunity from ESPN Bet," Kelley wrote. … While disappointing at face, turnarounds are never a straight line and we think investor expectations for PENN & ESPN Bet remain low.

Persons: it's, there's, Jason Kupferberg, Kupferberg, GPN, Tal Liani, Liani, Shaun Kelley, that's, Kelley, Penn Organizations: Nvidia, Bank of America, CNBC, Arista Networks, Penn Entertainment, Global, Arista, Microsoft, TAM, Penn, ESPN, ESPN Bet, PENN, SG, Enterprise, SAP, VMWare, Dell, Penn Ent, Interactive, … Locations: Bank, CY25, 2H24

☆ Bank of America sees more than 60% upside in this beaten-down payments stock
▼ + stars: | 2023-10-10 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Shares of Block are too cheap relative to the payment company's high-quality fundamentals, according to Bank of America. The firm reiterated its buy rating on the stock along with its price objective at $71. That target suggests a 62% upside from Monday's closing price of $43.71. SQ YTD mountain SQ YTD chart "We believe this pullback is quite unjustified, but suspect it is due to: 1. Kupferberg also pointed toward Block's strong fundamentals as a catalyst for the firm's potential upside.

Persons: Jason Kupferberg, Kupferberg, — CNBC's Michael Bloom Organizations: Bank of America

☆ Stocks making the biggest moves midday: Block, Truist, PepsiCo, Rivian and more
▼ + stars: | 2023-10-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Solar companies — Shares of solar companies rallied Tuesday, putting the Invesco Solar ETF (TAN) on pace for its best day since March 21. The defense and aerospace companies rose Monday after the Israel-Hamas war began over the weekend. Rivian — Shares of the electric vehicle manufacturer rose more than 5% after UBS upgraded the stock to buy from neutral. Block — Shares added 5.5% after Bank of America reiterated its buy rating on the payments stock. Unity Software — The video game software company added 3.2%.

Persons: Skechers, SolarEdge, Hannon Armstrong, Baird, Rivian, Joseph Spak, Semafor, Jason Kupferberg, efruxifermin, John Riccitiello, James Whitehurst, Davidson, — CNBC's Pia Singh, Tanaya Macheel, Jesse Pound, Michelle Fox, Lisa Kailai Han, Samantha Subin Organizations: UBS, Palantir Technologies, U.S . Army, PepsiCo, LSEG, Sustainability, Bank of America, Electronic Arts, EA's FIFA, Technologies, Northrop Grumman, Hamas, Truist, Therapeutics, Unity Software, Unity, Arm, Deutsche Bank, JPMorgan, Arm Holdings Locations: Israel

☆ These 'best-in-class' stocks could bolster your portfolio as market unease resurfaces, analysts say
▼ + stars: | 2023-08-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wall Street analysts named a list of stocks this week that they say could offer protection for investors as market tension rises. "We view Zscaler as a best-in-class, next generation cybersecurity company built for the distributed cloud world," he added. Earlier this week, the firm initiated coverage of the aerospace and defense components company with a buy rating. Zscaler - BTIG, buy rating "Over the last couple of months, we have spoken with seven contacts with a view on ZS, and feedback has been consistently positive. TransDigm Group - Citi, buy rating "The company's focus on proprietary products & lean operations affords pricing power and margin expansion potential.

Persons: Jason Kupferberg, Kupferberg, TOST, Zscaler, Gray Powell, Powell, Jason Gursky, Gursky, TransDigm, BURL, ROST, LULU, NetEase, Morgan Stanley Organizations: CNBC, Urban Outfitters, Toast Bank of America, TransDigm Group Citi, TransDigm, Barclays, Free, Citi, NetEase, Bank of America, TAM Locations: 2H23

☆ Buy stocks like Amazon, which are undervalued and underappreciated ahead of earnings, analysts say
▼ + stars: | 2023-07-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Investors combing for value ahead of another big week of earnings should look no further, according to analysts. CNBC Pro looked through top Wall Street research to find stocks that are underappreciated as earnings season continues. Meanwhile chatter around the stock remains mostly balanced and positive, according to UBS. "We model an ~8% 5-yr. EPS CAGR and rate the stock buy as we believe this growth potential remains underappreciated," Serna said. ... We model an ~8% 5-yr. EPS CAGR and rate the stock buy as we believe this growth potential remains underappreciated."

Persons: Mauricio Serna, Lee, Wrangler, Serna, Jason Kupferberg, it's, Kupferberg, Matt Niknam, DigitalBridge, Niknam, Baird, Jassy, DBRG, Morgan Stanley Organizations: CNBC Pro, Kontoor Brands, International, Kontoor Brands UBS, UBS, Bank of America, Deutsche Bank, TAM

☆ Don't chase the Coinbase rally as regulatory risks still linger, analysts warn
▼ + stars: | 2023-07-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Investors shouldn't chase the Coinbase rally that was sparked by a pop in crypto asset XRP due to a partial legal win in federal court, analysts warned. The judge also ruled that Ripple violated securities laws when selling XRP to institutions but not to retail investors. However, some analysts noted investors should stay cautious around Coinbase for a little while longer. Despite the ways Coinbase and the crypto industry can benefit from the ruling, the dark cloud of regulatory uncertainty hasn't gone away yet. He added that although the ruling is positive, it's "not a Panacea" for Coinbase.

Persons: XRP, Peter Christiansen, Bank of America's Jason Kupferberg, Kupferberg, Christiansen, Michael Bloom Organizations: of, Citi, Bank of America's, SEC, Coinbase, Bank of America, America's Locations: Southern, of New York, Cancun

☆ Coinbase's stock is due for a 40% drop even if bitcoin ETFs are approved, Bank of America says
▼ + stars: | 2023-07-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The recent rally by Coinbase will not be supported by second-quarter earnings or the approval of bitcoin ETFs, according to Bank of America. Coinbase's core business has been under pressure over the past year, with trading volumes remaining low as bitcoin and other cryptocurrencies are stuck in a bear market. But the stock has rallied sharply over the past month, apparently spurred by applications for bitcoin ETFs from BlackRock and other asset managers. "Despite 2Q data suggesting COIN will materially miss top-line estimates, COIN shares have rallied ~60% since 6/15 on the news of spot Bitcoin ETF applications filed by Blackrock and others. In fact, the approval of of bitcoin ETFs could hurt Coinbase if their customers shift to using ETFs instead of trading the cryptocurrency directly on the exchange, Kupferberg said.

Persons: Coinbase, Jason Kupferberg, Kupferberg, — CNBC's Michael Bloom Organizations: Bank of America, Securities and Exchange Commission, SEC, Blackrock, Barclays Locations: BlackRock

☆ Wall Street is split on where Coinbase shares go next as the company's legal fight with the SEC begins
▼ + stars: | 2023-06-07 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

Analysts are split on how Coinbase shares perform from here as the company enters a battle with the Securities and Exchange Commission. Others see this development as a major threat to Coinbase's business, going beyond near-term financial implications. Additionally, with the complaint coming a day after the SEC sued Binance , Coinbase is likely to see new trading volumes near term, she added. "The SEC lawsuit highlights that Coinbase simultaneously operates as a broker-dealer, an exchange, and a clearing agency/custodian," he added. "We also want to underscore that the COIN business model is doing well right now," he added.

Persons: it's, Coinbase's, cryptocurrencies, Cathie Wood, Raymond James, Patrick O'Shaughnessy, SVB MoffettNathanson, Lisa Ellis, Ellis, Binance, Coinbase, Gary Gensler, Canaccord, Raymond James –, Jefferies, Trevor Williams, SEC …, Devin Ryan, Joseph Vafi, Jason Kupferberg, Michael Bloom Organizations: Securities and Exchange, SEC, CNBC, Securities, Coinbase, Bank of America Locations: U.S

☆ Analysts call Coinbase's ongoing regulatory battles a 'major roadblock,' say long-term outlook looks uncertain
▼ + stars: | 2023-05-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Despite Coinbase Global 's better-than-expected quarter , many analysts remain cautious on the crypto exchange's longer-term outlook, viewing the regulatory and legal backdrop as a major obstacle for shares. But even with this seemingly intact near-term outlook, Wells Fargo's Jeff Cantwell warned that both the medium and long-term trajectory appears constrained, calling the regulatory backdrop a "major roadblock." COIN 1D mountain Coinbase shares pop on earnings Cantwell reiterated an underweight rating on the stock. An uncertain regulatory outlook One of the biggest concerns for analysts is the uncertain regulatory environment for the company. Nance has a sell rating on Coinbase shares.

☆ Block gave a 'robust' response to brutal short-seller report, and shares of the Cash App parent are looking at 40% upside, Bank of America says
▼ + stars: | 2023-03-31 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Block gave a "robust" response to Hindenburg Research's report raising fraud concerns at the Cash App parent. The short-seller said its two-year investigation raised concerns about Block's reporting on monthly active accounts on Cash App and related compliance processes. "These metrics suggest that the short report's allegation that 40-75% of Cash App accounts are fake/fraudulent/duplicative is not credible." Hindenburg said Friday that Block's response "confirmed it has reported inflated user counts to investors for years." Downside risks to BofA's price objective include intensifying competition, macro conditions for small and medium-sized businesses, and a lack of diversification for Cash App revenue and gross profit streams.

☆ There's 'nothing thesis-changing' about Coinbase despite fourth-quarter beat, some Wall Street firms say
▼ + stars: | 2023-02-22 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The outlook for Coinbase changed little even after it beat analyst expectations in the latest quarter, some Wall Street firms say. Coinbase reported a loss of $2.46 per share on revenue of $629 million. Meanwhile, the firm's user base fell to 8.3 million monthly transacting users (MTUs) in the fourth quarter, down from 8.5 million in the previous quarter and the 8.22 million Street estimate compiled by StreetAccount. Bank of America's Jason Kupferberg was underwhelmed by the results, saying that there was "nothing thesis-changing in the print" despite the solid results. EBITDA beat was helped by lower opex.

☆ Bank of America downgrades Coinbase, says consensus estimates may be 'way too high' given the current crypto outlook
▼ + stars: | 2023-01-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Wall Street is overestimating Coinbase 's ability to weather a tough crypto environment, according to Bank of America. The company's shares dipped 4% in the premarket after analyst Jason Kupferberg downgraded the crypto exchange to underperform from neutral, citing the volatile environment for crypto assets. He noted expectations for lower crypto participation in the months ahead as the industry faces more regulation and overcomes its confidence blow. He also expects potentially lower retail transaction volumes going forward. "We have been observing increasing signs of revenue diversification beyond retail crypto trading, a trend we think could accelerate in 2023 and beyond," Kupferberg wrote.

☆ Premarket stocks: Is the dollar's relentless rise coming to an end?
▼ + stars: | 2022-11-22 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

At last, however, its breakneck rally could be coming to an end. Last week, investors turned bearish on the greenback for the first time since July 2021, according to data from Societe Generale. First, there was the surprising inflation data in the United States, which showed that prices rose more slowly than expected in October. If these economies perform better than expected, the United States won’t look like the only game in town — and other currencies could look appealing again. About 261,000 positions were added in October, and by next summer, the bank expects monthly gains of closer to 50,000.

☆ Coinbase shares tumble as bitcoin slide continues, investors fear contagion from FTX collapse
▼ + stars: | 2022-11-21 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Brian Armstrong, CEO and Co-Founder, Coinbase, speaks during the Milken Institute Global Conference on May 2, 2022. in Beverly Hills, California. Coinbase shares fell more than 8% Monday, extending a slide that's pushed the crypto exchange to its lowest point since its market debut in April 2021. The drop comes as bitcoin's slump continues and investors worry about contagion from FTX's spectacular collapse earlier this month. In June, the crypto exchange slashed 18% of its workforce. WATCH: CNBC's full interview with Coinbase CEO Brian Armstrong

☆ Bank of America downgrades Coinbase, says FTX collapse raises 'contagion risk' for crypto platform
▼ + stars: | 2022-11-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Bank of America says the collapse of FTX is clouding the outlook for Coinbase . Analyst Jason Kupferberg downgraded shares of Coinbase to neutral from buy, citing "contagion risk" for the cryptocurrency exchange platform, even if it is not "another FTX." "We think Coinbase (COIN) likely faces a number of new headwinds over the near/medium-term due to the recent collapse of rival crypto exchange FTX," Kupferberg wrote in a Friday note. However, diminished confidence in the crypto ecosystem (especially among retail crypto users) is likely to dampen overall trading activity," read the note. Finally, the analyst expects that it will take more time for crypto traders to fully understand the implication of the FTX collapse, which could further drag on other cryptocurrencies for the foreseeable future.

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