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The Latest Breaking News from Needham

Bitcoin Miami 2022 Showed An Institutional Shift, Says Analyst

Following the conclusion of the 2022 Bitcoin (CRYPTO: BTC) conference held in Miami, Florida, an analyst at Needham shared his key takeaways.

Benzinga

Needham Sees Clear View Into STAAR Surgical's Durable Double-Digit Revenue Expansion

Needham is initiating coverage on STAAR Surgical Company (NASDAQ:STAA) with a Buy rating and an $87 price target. The analysts note that FDA approval of STAA's EVO Implantable Collamer Lens (ICLs) should serve as a meaningful tailwind for revenue. The Company generates most of its revenue from outside US markets. But after the FDA approval…

Benzinga

Read Why Needham Is Bullish On This Pet Retailer

Needham analyst Anna Andreeva gave Petco Health And Wellness Co Inc (NASDAQ:WOOF) a Buy rating with a price target of $30.00 (45% upside). Andreeva notes Petco is becoming an omni-channel powerhouse after revamping its digital capabilities under CEO Ron Coughlin. The analyst thinks that the company’s bundled offerings model has a significant advantage over digital-only players. Petco…

Benzinga

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Needham Initiates Alcon Citing 'Visible Path to Sustainable Double-Digit EPS Growth'

Needham is initiating coverage on Alcon AG (NYSE: ALC) with a Buy rating and

Benzinga

Benzinga's Top Ratings Upgrades, Downgrades For April 8, 2022

Upgrades

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Medtronic's Portfolio Management Unlikely To Be A 'Magic Bullet,' Says Needham

Needham published a report that pointed to previous comments from Medtronic plc's (NYSE: MDT) management that indicate the potential for changes in the coming year, with a spinoff of a large business considered an option.

Benzinga

Here's How Analysts View Analog Devices Post Investor Day

Analog Devices Inc (NASDAQ:ADI) highlighted its strategic vision and new financial model at its investor day meet. Piper Sandler analyst Harsh Kumar reiterated an Overweight with a $210 price target (30% upside). Kumar expects the company to benefit from several secular growth drivers within the semiconductor industry. Related: Analog Devices Tops Q1 Backed By Momentum Across…

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Analysts Continue To See Sharp Upside In SMART Global Post Q2 Results

Analysts had a mixed take on SMART Global Holdings Inc (NASDAQ:SGH) post Q2 results. Needham analyst Ravindra Gill raised the price target to $45 (89% upside) with a Buy rating following the seventh consecutive beat raise quarter. SGH remains the firm's Top Pick for 2022. SGH's commercial and government customers have already designed and contracted the…

Benzinga

Needham Halves Price Target On Shapeways Post Q4 Results

Needham analyst James Ricchiuti reduced the price target on Shapeways Holdings Inc (NYSE: SHPW) to $5 (an upside over 100%) from $10 while still keeping the Buy rating on the shares.

Benzinga

Needham Cuts Wayfair Price Target By 17%

Needham analyst Anna Andreeva lowered the price target on Wayfair Inc (NYSE:W) to $150 from $180 and maintained a Buy rating on the shares, implying a 37% upside. The analyst noted that the company's near-term trends remain under pressure amidst a volatile macro backdrop. Andreeva specified that Wayfair has a 2.4% penetration in its largest market,…

Benzinga

Netflix Snaps Its Third Gaming Studio

Netflix Inc (NASDAQ:NFLX) acquired Boss Fight Entertainment, a mobile game developing studio, Venture Beat reports. The financial terms of the transaction remain undisclosed. Boss Fights joined Netflix's two other game studio acquisitions after Night School Studio and Next Games, Variety reports. Also Read: Needham Sees Netflix Losing Out To Amazon, Disney, Apple and Other Streaming Rivals…

Benzinga

Coinbase Analyst Spells Bull Case: Forcasts $1.26B Additional Revenue From NFTs Alone

Needham analyst John Todaro has outlined a bullish scenario for Coinbase Global Inc (NASDAQ: COIN) if its upcoming non fungible token (NFT) business takes off as planned.

Benzinga

Why This Revolve Group Analyst Says Online Fashion Retailer Is A Buy

Revolve Group Inc (NYSE: RVLV) is “an ultimate reopening play” and the Street's sales growth estimate of 35% for the first half of the year in 2022 appears conservative, according to Needham.

Benzinga

Amazon Consummates MGM Deal Post Clean Chit From Regulators

Amazon.com Inc (NASDAQ:AMZN) closed the $8.5 billion acquisition of film studio Metro-Goldwyn-Mayer after a clean chit from the U.S. FTC and EU. The EU contended that the deal would not hamper competition as the two companies did not significantly overlap in content production, the Wall Street Journal reports. The FTC also did not…

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Needham Sees Netflix Losing Out To Amazon, Disney, Apple and Other Streaming Rivals

Needham analyst Laura Martin's March channel checks indicated growing interest toward news acting serving as a headwind for Netflix Inc (NASDAQ: NFLX). As per Martin, Netflix needs to add advertisements to survive the streaming war.

Benzinga

10 Biggest Price Target Changes For Friday

Needham cut the price target on OppFi Inc. (NYSE: OPFI) from $10 to $4.5. OppFi shares rose 5.3% to $3.20 in pre-market trading.

Benzinga

Read How Analysts Reacted To MongoDB Post Q4 Earnings Beat

Analysts remained positive on MongoDB Inc (NASDAQ:MDB) despite slashing their price targets on the stock post Q4 results. Barclays analyst Raimo Lenschow lowered the PT to $410 from $556 (25% upside) and kept an Overweight. Atlas growth accelerated again compared to previous years. Morgan Stanley kept an Overweight with an unchanged price target of $633 (90%…

Benzinga

Here's How Analysts View Marvell Post Q4

Most analysts slashed their price targets on Marvell Technology Inc (NASDAQ:MRVL) post Q4 results. Wells Fargo analyst Gary Mobley lowered the price target to $70 from $80 (7.5% upside) and maintained an Equal-Weight following the "respectable" beat and raise quarter. Considering the upbeat results and the pullback in the equity markets & chip sector, Mobley says…

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Benzinga

Anaplan Shares Pop As Analysts Cheer Q4 Earnings

Analysts raised their price targets on Anaplan Inc (NYSE:PLAN) post Q4 results. Mizuho analyst Siti Panigrahi raised the PT to $65 from $60 (26.7% upside) and kept a Buy. The company posted Q4 results and raised its fiscal 2023 guide above consensus estimates, the latest back-office player to benefit from the enterprise spending resumption. Wells…

Benzinga

Analysts Remain Bullish On Cardlytics Post Q4 Results

Analysts reiterated a Buy on Cardlytics Inc (NASDAQ:CDLX) post Q4 results. Craig-Hallum analyst Jason Kreyer lowered the firm's price target on Cardlytics from $100 to $70 (15% upside) and kept a Buy. The analyst notes quarterly results were strong despite lingering concerns over the supply chain, labor shortages, and omicron issues faced in the quarter. …

Benzinga

Needham Cuts Montrose Environmental Price Target By ~29%

Needham analyst James Ricchiuti lowered the price target on Montrose Environmental Group Inc (NYSE:MEG) to $60 (an upside of 48.7%) from $84 and maintained a Buy rating on the shares after the company reported quarterly results. Ricchiuti noted while the CTEH business is expected to return to a more normalized $100 million level in 2022…

Benzinga

Here's How Analysts Reacted To Workday's Q4 Results

Analysts mostly raised their price targets on Workday Inc (NASDAQ:WDAY) post Q4 results. Wells Fargo analyst Michael Turrin raised the PT to $340 from $325 (39.1% upside) and kept an Overweight. Turrin expects Workday shares will see a boost from Q4 results as the company delivered a clean set of Q4 metrics and a meaningful…

Benzinga

Read How Analysts Reacted To Universal Display's Q4 Results

Analysts slashed their price targets on Universal Display Corp (NASDAQ:OLED) following Q4 results. Deutsche Bank analyst Sidney Ho lowered the price target to $180 from $240 (20% upside) and kept a Buy. Although the company's 2022 outlook was below expectations, the announcement of phosphorescent Blue being ready for commercialization by…

Benzinga

10 Key Takeaways From FuboTV's Q4 Earnings

FuboTV Inc’s (NYSE: FUBO) stock is an “inexpensive” way to gain exposure to trend of U.S. consumers transitioning towards OTT and streaming TV, according to Needham. The FuboTV Analyst: Laura Martin maintained a Buy rating on FuboTV, with a price target of $15.

Benzinga

Analysts Continue To See Sharp Upside In Sprout Social Post Q4 Results

Analysts cut their price targets on Sprout Social Inc (NASDAQ:SPT) post Q4 results. Needham analyst Scott Berg lowered the price target to $75 from $160 (37% upside) given the significant multiple compression across high growth software but kept a Buy. The company's Q4 results were "impressive," highlighted by the acceleration of upmarket demand, record large…

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