Selected stock price target news of the day - February 12th, 2024

By: Matthew Otto

Affirm Beats Expectations: Q2 Highlights & Revised 2024 Outlook

Affirm delivered a fiscal second quarter performance, reporting a gross merchandise value of $7.5 billion, surpassing analysts’ estimates by $600 million. The company’s revenue of $591 million exceeded the projected $521 million. Analysts like Mizuho’s Dan Dolev and J.P. Morgan’s Reginald L. Smith remains bullish, emphasizing Affirm’s year-over-year surge of over 250%.

Affirm revised its fiscal 2024 GMV outlook to $25.25 billion, signaling a $1 billion increase from its prior forecast. Mizuho analyst Dan Dolev sees this as a buying opportunity, maintaining a Buy rating with a price target of $65. Truist analyst Andrew W. Jeffrey echoed this sentiment, maintaining a Buy rating and a $60 price target, underscoring Affirm’s transformative potential in the buy-now-pay-later sector. J.P. Morgan’s Reginald L. Smith, while slightly adjusting the price target to $41, remains optimistic, citing management’s historical track record of beating guidance.

Analysts Mixed Sentiments as Price Targets Adjust Across the Board

JP Morgan’s Reginald Smith maintained a Neutral rating and increased the price target from $35 to $41.
Stephens & Co.’s Vincent Caintic maintained an Underweight rating yet lifted the price target from $6 to $16.
RBC Capital’s Daniel Perlin reiterated a Sector Perform rating and raised the price target from $26 to $50.
Goldman Sachs’ Mike Burton kept a Neutral rating and increased the price target from $18 to $20.
Wedbush’s David Chiaverini reiterated an Underperform rating with a $20 price target.
Truist’s Andrew W. Jeffrey reiterated a Buy rating with a $60 price target.
Mizuho’s Dan Dolev maintained a Buy rating with a price target of $65.

Which Analyst has the best track record to show on AFRM?

Analyst Vincent Caintic (STEPHENS) currently has the highest performing score on AFRM with 4/6 (66.67%) price target fulfillment ratio. His price targets carry an average of $-33.22 (-67.49%) potential downside. Affirm Holdings stock price reaches these price targets on average within 194 days.

Pinterest’s Revenue Disappoints, Google Partnership Offers Hope

Pinterest released financial results that fell short of expectations, with revenue reaching $981 million, a 12% increase from the previous year but below the anticipated $991 million. Adjusted earnings of 53 cents per share exceeded the expected 51 cents. The company’s monthly active users in the fourth quarter rose by 11% to 498 million, surpassing analyst estimates of 487 million, while its global average revenue per user stood at $2, slightly lower than the projected $2.05.

The company’s first-quarter revenue forecast of $690 million to $705 million, representing a 15% to 17% year-over-year growth, fell short of the average analyst estimate of $703 million. Pinterest CEO, Bill Ready, highlighted the importance of the recent integration with Google, especially given that 80% of Pinterest’s users are outside the U.S., but only 20% of its sales originate from these markets.

Analysts Adjust Ratings and Price Targets Amidst Mixed Outlook

JP Morgan analyst Doug Anmuth maintained a Neutral rating and raised the price target from $34 to $38.
Roth MKM analyst Rohit Kulkarni reiterated a Neutral rating and increased the price target from $37 to $38.
RBC Capital analyst Brad Erickson maintained an Outperform rating and increased the price target from $46 to $48.
Susquehanna analyst Shyam Patil kept a Positive rating and raised the price target from $35 to $45.
Wedbush analyst Scott Devitt reiterated a Neutral rating and raised the price target from $35 to $38.

Which Analyst has the best track record to show on PINS?

Analyst Justin Patterson (KEYBANK) currently has the highest performing score on PINS with 9/12 (75%) price target fulfillment ratio. His price targets carry an average of $8.33 (21.00%) potential upside. Pinterest stock price reaches these price targets on average within 222 days.

Synaptics Fiscal Q2 2024 Results: Mixed Performance Amid Market Challenges

Synaptics unveiled its financial performance for the second quarter of fiscal year 2024, reporting revenue of $237 million. Core IoT revenue remained at $38 million, while witnessing a year-over-year decline of 46%. In contrast, mobile product revenue surged by 42% sequentially to $62 million. However, enterprise and automotive segments faced continued challenges, with revenue declining by 12% sequentially and 40% year-over-year to $138 million and $61 million, respectively. Synaptics ended the quarter with $849 million in cash, cash equivalents, and short-term investments, reflecting a 3% sequential increase, while maintaining vigilant expense control with GAAP operating expenses of $126.9 million, inclusive of share-based compensation and intangible asset amortization.

Looking ahead to the March quarter, Synaptics anticipates revenue in the range of $220 million to $250 million. The company expects Core IoT revenue to rebound, projecting a nearly 20% sequential increase, while enterprise and automotive segments are anticipated to continue their decline. Additionally, Synaptics aims for a slight improvement in gross margin, targeting a range of 52% to 54% for non-GAAP gross margin compared to 52.5% reported in the December quarter.

Analysts Mixed Ratings and Price Target Adjustments

Keybanc analyst John Vinh maintained an Overweight rating and raised the price target from $125 to $135.
Craig-Hallum analyst Anthony Stoss downgraded from Buy to Hold and announced a $105 price target.
Mizuho analyst Vijay Rakesh maintained a Buy rating and lowered the price target from $127 to $124.
Susquehanna analyst Christopher Rolland reiterated a Positive rating and raised the price target from $130 to $135.
Needham analyst Quinn Bolton kept a Buy rating and increased the price target from $115 to $125.

Which Analyst has the best track record to show on SYNA?

Analyst Christopher Rolland (SUSQUEHANNA) currently has the highest performing score on SYNA with 12/19 (63.16%) price target fulfillment ratio. His price targets carry an average of $22.79 (20.31%) potential upside. Synaptics stock price reaches these price targets on average within 58 days.