Selected stock price target news of the day - February 14th, 2024

By: Matthew Otto

ZoomInfo Earnings Report: Analysts Laud Strong Financials and AI Innovation

ZoomInfo Technologies showcased an earnings report that exceeded Wall Street’s expectations across multiple fronts. The company reported fourth-quarter adjusted earnings per share of 26 cents, surpassing analysts’ forecasts by a penny. Revenue standing at $316.4 million, representing a 5% year-over-year increase, exceeding Wall Street estimates of $310.6 million. Looking ahead, ZoomInfo anticipated revenue for the first fiscal quarter of 2024 to be in the range of $307 million to $310 million, slightly below the analysts’ consensus estimate of $309 million. For the full fiscal year 2024, the company forecasted revenue between $1.26 billion and $1.28 billion, aligning closely with Wall Street’s expectation of $1.27 billion. Analysts lauded these results, with Truist Securities’ analyst Terry Tillman noting, FY24 guidance is conservative. Tillman revised the price target to $20 from $16.

The introduction of CoPilot, an artificial intelligence solution designed to optimize customer interactions, also garnered attention from analysts. Mizuho Securities analyst, Siti Panigrahi, highlighted the potential profitability of CoPilot in the future, stating that while ZI is still testing the pricing and monetization around Copilot, the company expects to migrate most if not all of its customers to Copilot over the next several years, likely at a higher price point. This sentiment was echoed by Needham analyst, Joshua Reilly, who maintained their Buy rating and $25 price target, emphasizing the return of 550 previously churned customers as a testament to ZoomInfo’s product quality.

Analysts Weigh In Amidst Price Target Adjustments

DA Davidson analyst Gil Luria maintained a Buy rating and raised the price target from $25 to $27.
RBC Capital analyst Rishi Jaluria reiterated an Underperform and a $14 price target.
Needham analyst Joshua Reilly reiterated a Buy rating and a $25 price target.
Piper Sandler analyst Brent Bracelin maintained an Overweight rating and increased the price target from $23 to $24.
Stifel analyst Parker Lane kept a buy rating and raised the price target from $16 to $24.

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

Analyst Raimo Lenschow (BARCLAYS) currently has the highest performing score on ZI with 8/19 (42.11%) price target fulfillment ratio. His price targets carry an average of $1.68 (9.17%) potential upside. ZoomInfo Technologies stock price reaches these price targets on average within 97 days.

Airbnb’s Q4 Report Beats Analysts’ Expectations Amid Growth Plans

Airbnb’s fourth-quarter financial report surpassed analyst projections. The company reported revenue of $2.22 billion, exceeding the expected $2.17 billion. Airbnb’s gross booking value reached $15.5 billion for the quarter. While the company reported a net loss of $349 million, or 55 cents per share, compared to a net income of $319 million, or 48 cents per share, in the prior year. This figure includes lodging tax reserves and nonrecurring tax withholding expenses totaling around $1 billion.

Looking ahead, Airbnb’s investor letter revealed strategic initiatives, including plans to repurchase up to $6 billion of its Class A common stock. The company’s projected revenue for the first quarter ranged between $2.03 billion and $2.07 billion, exceeding Wall Street’s expectations. Growth metrics included a 12% increase in nights and experiences booked, totaling 98.8 million, surpassing analyst estimates. Moreover, Airbnb reported 7.7 million active listings by the end of 2023, marking an 18% rise from the previous year, with double-digit supply growth across all regions, particularly in Asia-Pacific and Latin America.

Analysts Offer Divergent Views with Varied Price Targets

DA Davidson analyst Tom White downgraded from Buy to Neutral with a $145 price target.
Needham analyst Bernie McTernan maintained a Buy rating and increased the price target from $150 to $160.
Deutsche Bank analyst Leo Horowitz kept a Hold rating and lowered the price target from $141 to $135.
RBC Capital analyst Brad Erickson reiterated a Sector rating and raised the price target from $140 to $150.
UBS analyst Lloyd Walmsley maintained a Neutral rating and decreased the price target from $148 to $143.
Goldman Sachs analyst Eric Sheridan kept a Sell rating and raised the price target from $122 to $123.

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

Analyst Doug Anmuth (JPMORGAN) currently has the highest performing score on ABNB with 5/5 (100%) price target fulfillment ratio. His price targets carry an average of $2.5 (2.16%) potential upside. Airbnb stock price reaches these price targets on average within 10 days.

Alibaba’s Q3 2023 Results: Growth and Investments

Lyft investors were sent on a rollercoaster ride after a glaring typo in the company’s earnings release. Initially soaring over 60% in after-hours trading, Lyft’s shares tumbled when it was revealed that the forecasted 2024 adjusted EBITDA margin expansion had been erroneously inflated by a factor of ten. The correction, from 500 basis points to 50, underscored the importance of meticulous attention to detail in financial communications, reminding investors of the risks associated with relying solely on headline numbers.

Despite the turbulence caused by the typo, Lyft’s fourth-quarter earnings still painted a picture of resilience and progress. Gross bookings rose by 17% year-over-year to $3.7 billion, while revenue experienced a 4% increase, reaching $1.2 billion. Furthermore, the company reported a quarterly net loss of $26.3 million, lower than the staggering $588.1 million loss incurred in the fourth quarter of 2022.

Analysts Upgrades Price Target Following Q4 Earnings Report

MoffettNathanson analyst Michael Morton upgraded from Sell to Neutral.
Goldman Sachs analyst Eric Sheridan maintained a Neutral rating and raised the price target from $15 to $16.
Morgan Stanley analyst Brian Nowak reiterated an Equalweight rating and increased the price target from $10.50 to $12.
Wedbush analyst Scott Devitt raised the price target to $15.
UBS analyst Lloyd Walmsley upgraded the price target to $14.
JPMorgan analyst Doug Anmuth increased the price target to $13.
Truist Securities analyst Youssef Squali increased the price target to $15.
Deutsche Bank analyst Benjamin Black raised the price target to $15.

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

Analyst Daniel Ives (WEDBUSH) currently has the highest performing score on LYFT with 11/22 (50%) price target fulfillment ratio. His price targets carry an average of $-1.22 (-8.02%) potential downside. Lyft stock price reaches these price targets on average within 80 days.