In this article, we will discuss the 10 stocks that recently received updated price targets from analysts after the results. If you want to see more of these stocks on the list, you can directly visit Analysts Revise Price Targets for These 10 Stocks After Earnings.
Entertainment giant The Walt Disney Company (NYSE:DIS), ride-sharing service Uber Technologies, Inc. (NYSE:UBER) and fintech company Fiserv, Inc. (NASDAQ:FISV) grabbed headlines after posting the financial results of their respective districts.
All three companies managed to beat earnings estimates. Meanwhile, analysts continue to react to the latest quarterly performance of these stocks. Uber Technologies, Inc. (NYSE: UBER) and Fiserv, Inc. (NASDAQ: FISV) received revised price targets from analysts after their recent earnings.
Additionally, analysts also updated their price targets for ZoomInfo Technologies Inc. (NASDAQ: ZI) and Tyson Foods, Inc. (NYSE: TSN) following their latest quarterly results. Check out the full article for the details of these price actions.
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10. Intapp, Inc. (NASDAQ:INTA)
Number of hedge fund holders: 4
Truist raised his price target for Intapp, Inc. (NASDAQ:INTA) from $32 per share to $38 per share on Tuesday, February 7. The research firm was primarily moved by the cloud-based software solution provider’s impressive earnings and prospects.
Intapp, Inc. (NASDAQ:INTA) surprised investors on Tuesday by reporting earnings of 3 cents per share for its second fiscal quarter, contrary to analysts’ average estimate of a loss of 3 cents. Additionally, revenue for the quarter increased 31% year on year to $84.7 million, beating expectations of $80.40 million.
Looking ahead, Intapp, Inc. (NASDAQ:INTA) forecasts adjusted earnings of between 2 and 6 cents per share and revenue of between $340.5 and $344.5 million for its fiscal year 2023.
9. Simpson Manufacturing Co., Inc. (NYSE:SSD)
Number of hedge fund holders: 24
Shares of Simpson Manufacturing Co., Inc. (NYSE: SSD) hit a nearly 10-month high on Tuesday, Feb. 7, after beating fourth-quarter earnings expectations. The building materials producer reported earnings of $1.35 per share, beating consensus of $1.03 per share.
Revenue was $475.6 million, up 13.6% year on year and above expectations of $475.72 million. Simpson Manufacturing Co., Inc. (NYSE: SSD) also disclosed its sales performance by region.
The company’s revenue in North America fell 1.4% to $368.1 million amid falling sales volume. By comparison, revenue from Europe soared 150.3% to $103.7 million in the quarter.
For the current fiscal year, Simpson Manufacturing Co., Inc. (NYSE: SSD) has forecast an operating margin of 18-20%.
Subsequently, DA Davidson raised its price target for Simpson Manufacturing stock from $90 per share to $120 per share on Feb. 7, citing its fourth-quarter earnings and operating margin guidance for 2023.
8. Tyson Foods, Inc. (NYSE:TSN)
Number of hedge fund holders: 35
Tyson Foods, Inc. (NYSE:TSN) recently received a target price cut from BofA after reporting disappointing financial results for its fiscal first quarter and weak full-year outlook. The research firm cut its price target for TSN shares from $62 per share to $56 per share on Tuesday, February 7.
The chicken, pork and beef producer earned 85 cents per share on an adjusted basis, down 70% year over year and well below consensus of $1.36 per share. Additionally, Tyson Foods, Inc. (NYSE:TSN) reported revenue of $13.260 billion, up from $12.933 billion a year ago and behind expectations of $13.52 billion.
Looking ahead, Tyson Foods, Inc. (NYSE:TSN) expects to generate revenue in the range of $55 billion to $57 billion for its fiscal year 2023. The outlook compares to consensus of $55.2 billion.
7. LyondellBasell Industries NV (NYSE:LYB)
Number of hedge fund holders: 38
RBC Capital raised its price target for LyondellBasell Industries NV (NYSE:LYB) from $94 per share to $99 per share on Tuesday, February 7, following its fourth quarter results.
While analyst Arun Viswanathan acknowledged the macroeconomic uncertainty, he pointed to stable demand and several potential tailwinds over the coming quarters. Viswanathan has a “Sector Perform” rating from LyondellBasell Industries NV (NYSE: LYB).
LyondellBasell Industries NV (NYSE:LYB) reported mixed fourth quarter results last week. The chemical company reported adjusted earnings of $1.29 per share on revenue of $10.2 billion. That compares to the average analyst estimate of $1.22 per share for earnings and $10.7 billion for revenue.
Like LyondellBasell Industries NV (NYSE:LYB), analysts also recently revised their price targets for Uber Technologies, Inc. (NYSE:UBER), Fiserv, Inc. (NASDAQ:FISV) and ZoomInfo Technologies Inc. (NASDAQ:ZI ).
6. Neurocrine Biosciences, Inc. (NASDAQ:NBIX)
Number of hedge fund holders: 44
Several research companies reduced their price targets for Neurocrine Biosciences, Inc. (NASDAQ:NBIX) on Tuesday, February 7. The latest price action came despite the biopharmaceutical company’s better-than-expected quarterly performance.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) earned $1.24 per share in the fourth quarter, significantly more than 4 cents per share a year ago. The numbers were also above the consensus of $1.14 per share.
Subsequently, Piper Sandler lowered her price target for Neurocrine Biosciences, Inc. (NASDAQ:NBIX) from $103 per share to $95 per share, citing “tepid” operating leverage for the current fiscal year. Additionally, Barclays cut its price target for NBIX shares from $136 per share to $131 per share, while Citi cut its price target from $133 per share to $131 per share.
Click to read on and see Analysts Revise Price Targets for These 5 Stocks After Earnings.
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Disclosure: None. Analysts Revise Price Targets for These 10 Stocks After Earnings is originally published on Insider Monkey.
