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☆ Friday's analyst calls: Street reacts to Apple buybacks and Coinbase earnings
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +12 min

Analyst Scot Ciccarelli upgraded the retailer to buy from hold and raised his price target by $6 to $86. — Alex Harring 6: 22 a.m.: Here's what Wall Street thinks of Coinbase's earnings Coinbase's stronger-than-expected earnings have prompted analyst reactions. Barclays' Benjamin Budish (underweight, $179 price target unchanged, 21.8% downside): "The biggest question going forward is, how sustainable are these trends? — Alex Harring 6:12 a.m.: Wall Street reacts to Apple earnings Apple's buyback announcement has caught the eye of Wall Street analysts. Analyst Benjamin Nolan upgraded the railroad stock to buy from hold and increased his price target by $19 to $267.

Persons: Morgan Stanley, Jefferies, Bernstein, Aneesha Sherman, Sherman, — Alex Harring, Truist, Scot Ciccarelli, Ciccarelli, Ollie's, Estee Lauder, Dara Mohsenian, Mohsenian, Alex Harring, FactSet, Coinbase, what's, —, Goldman Sachs, Will Nance, Benjamin Budish, Oppenheimer's Owen Lau, JPMorgan's Samik Chatterjee, Morgan Stanley's Erik Woodring, Michael Ng, bullish, George Notter, Notter, We've, it's, Stifel, Benjamin Nolan, Nolan, — Alex Harring —, Michael Bloom Organizations: CNBC, Arista and Union Pacific, Apple, Arista, FactSet, Barclays, Bloomberg, ASU, Street, Services, Jefferies, Arista Networks, Nvidia, Microsoft, Meta, Pacific, Union Pacific Locations: F3Q, China, Thursday's

☆ 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

The firm downgraded the cosmetics stock to hold from buy but maintained $530 per share price target. The firm maintained a neutral rating alongside a $13 per share price target, implying nearly 10% upside ahead. The firm is standing by an underperform rating on Robinhood stock with a $12 per share price target. HSBC downgraded the software stock to hold but maintained its $22 per share price target. First Solar shares have lagged in 2024, losing 11.6% amid concern that Federal Reserve rate cuts may not arrive until later than anticipated.

Persons: Ulta, Anthony Chukumba, Chukumba, Brian Evans, Christopher Danely, — Brian Evans, Robinhood's, Robinhood, LSEG, JPMorgan's Kenneth Worthington, Goldman Sachs, Will Nance, America's Craig Siegenthaler, Wells, Biogen, Mohit Bansal, Stephen Bersey, Christopher Dendrinos, Dendrinos, Fred Imbert Organizations: CNBC, U.S, Wednesday, RBC, HSBC, Palantir, Citi, Revenue, Bank, America's, Technologies, RBC Capital Markets, Enphase Energy, Shoals Technologies Locations: 2024e, Tuesday's, U.S

☆ Goldman Sachs says Coinbase will remain challenged until crypto can prove its utility — What Wall Street is saying after earnings
▼ + stars: | 2023-08-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Late Thursday, the company posted a loss of 42 cents per share on revenue of $708 million for the second quarter. Analysts surveyed by Refinitiv expected a loss of 77 cents per share on revenue of $633 million. However, trading volumes have remained low, even as the crypto market is enjoying a couple of nice rallies this year. "Until we see evidence of mass adoption of crypto for everyday utility, we believe fundamentals will remain challenged, and thus we remain Sell rated [on Coinbase]." "While Coinbase is taking industry market share on the deterioration of business at Binance, it seems to be under-growing certain smaller domestic platforms, reflecting a different sort of competitive landscape."

Persons: Crypto, Coinbase, Goldman Sachs, Refinitiv, Will Nance, Nance, Needham, Binance, Piper Sandler, Raymond James, Michael Bloom Organizations: U.S . Securities, Exchange, SEC, BTC, JPMorgan, Bank of America Locations: Wall, Binance, Underperform

☆ These tech stocks have never been more compelling, Goldman Sachs says
▼ + stars: | 2023-05-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs named a slew of top tech picks as earnings season begins to wind down. CNBC Pro combed through top research from Goldman to find some of the firm's favorite tech stocks exiting earnings. "Specifically, in its Q1'23 earnings report, Bumble mgmt. ZoomInfo Goldman is betting on a big second half for ZoomInfo after its robust earnings report earlier this month. Bumble "Bumble reported a solid set of results as the company continues to execute against its four strategic pillars.

☆ 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.

The recent selloff of Global Payments shares presents a prime buying opportunity for investors, according to Goldman Sachs. Analyst Will Nance upgraded Global Payment shares to buy. The analyst thinks that recent mergers and acquisitions Global Payments has undertaken should simplify business and put it on track towards "the highest growth vertical." But, Goldman Sachs said investors have become too negative around the share loss narrative for the stock. GPN YTD mountain Global Payments stock —CNBC's Michael Bloom contributed to this report.

☆ This under-the-radar payments stock is a top sector pick that can rise 20%, Goldman Sachs says
▼ + stars: | 2023-01-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Shift4 Payments is poised to have a very good year, according to Goldman Sachs. Analyst Will Nance upgraded Shift4 Payments to buy from neutral, calling it a top 2023 payments pick with more than 20% upside. "While we acknowledge the macro risks and expect mgmt to take a balanced approach to guidance, we see this, combined with improving FCF conversion as providing significant amounts of cushion for FOUR in 2023," Nance added. Shift4 public debut on the New York Stock Exchange took place June 2020, when shares were listed at an offering price of $23. Now, however, the stock could see more than 20% upside to the analyst's target price of $67.

☆ The top stories in the world of banking in 2022
▼ + stars: | 2022-12-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

While 2022 wasn't a banner year for banks, it also wasn't a complete disaster. Will Nance, Neena Bitritto-Garg, Corinne Blanchard, and Michael Elias Goldman Sachs; Citi; Cowen; Deutsche Bank; Sean Gladwell/Getty; Savanna Durr/Insider1. At Goldman Sachs ID swipes were tracked. But by 2022 the wheels were starting to fall off on CEO David Solomon's consumer ambitions, as first reported by Insider. This fall, Wells Fargo made the decision to move tens of thousands of accounts out of its private bank that had under $5 million.

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