Selected stock price target news of the day - February 22nd, 2024

By: Matthew Otto

Wingstop Reports Revenue and Profitability Growth in Fiscal Year 2023

Wingstop reported a 27.1% increase in system-wide sales, soaring to $3.5 billion in fiscal year 2023 compared to the previous year. This surge in revenue is complemented by a 28.7% rise in total revenue, reaching $460.1 million. Net income surged by 32.5% to $70.2 million, while adjusted net income climbed by 36.0% to $74.1 million. Furthermore, the company’s adjusted EBITDA surged by 36.1% to reach $146.5 million.

In terms of quarterly performance, Wingstop’s fiscal fourth quarter of 2023 witnessed a 24.5% increase in system-wide sales, totaling $965.9 million. This translated into a 6.9% rise in net income, reaching $18.8 million, with adjusted net income increasing by 4.9% to $18.8 million. The company’s adjusted EBITDA for the quarter surged by 13.2% to $39.1 million.

Analysts Remain Bullish Following Financials: Price Targets Upgraded

Wedbush analyst Nick Setyan maintained an Outperform rating and raised the price target from $330 to $340.
TD Cowen analyst Andrew Charles reiterated an Outperform rating and increased the price target from $295 to $355.
Stephens & Co. analyst Joshua Long kept an Overweight rating and a $330 price target.
Citi analyst Jon Tower maintained a Neutral rating and raised the price target from $281 to $320.

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

Analyst Christopher Carril (RBC) currently has the highest performing score on WING with 10/10 (100%) price target fulfillment ratio. His price targets carry an average of $6.47 (3.26%) potential upside. Wingstop stock price reaches these price targets on average within 32 days.

Axsome Reports Growth and Investments in Fourth Quarter and Full-Year 2023

Axsome Therapeutics’ Fourth Quarter and Full-Year 2023 showcased numerical growth across various metrics. Total product revenues surged to $71.5 million and $204.9 million for the fourth quarter and full-year of 2023, respectively, marking a year-over-year increase of 193% and 309%. This surge was primarily fueled by net product sales of $70.7 million and $202.5 million for the respective periods, alongside royalty revenue of $800,000 and $2.4 million.

Auvelity, the company’s oral antidepressant, contributed to the revenue, with net product sales reaching $49 million and $130.1 million for the fourth quarter and full-year, respectively. Sunosi, treatment for excessive daytime sleepiness, reported a net product revenues of $22.5 million and $74.8 million for the same periods, representing a year-over-year growth of 67%.

Moreover, Axsome reported increases in research and development expenses, which totaled $30.8 million and $97.9 million for the fourth quarter and full-year of 2023, compared to $14.7 million and $57.9 million for the comparable periods in 2022. These investments were directed towards advancing the company’s late-stage clinical programs, including trials for AXS-05 in Alzheimer’s disease agitation and AXS-12 in narcolepsy. Selling, general, and administrative expenses also witnessed an uptick, amounting to $86.8 million and $323.1 million for the fourth quarter and full-year of 2023.

Axsome ended 2023 with $386.2 million in cash and cash equivalents.

Analysts Outlooks, Price Targets Adjusted Amidst Market Dynamics

Guggenheim analyst Yatin Suneja maintains Axsome Therapeutics with a Buy rating and raises the price target from $110 to $125.
RBC Capital analyst Leonid Timashev maintains Axsome Therapeutics with an Outperform rating and lowers the price target from $126 to $123.
Cantor Fitzgerald analyst Charles Duncan maintains Axsome Therapeutics with an Overweight rating and lowers the price target from $108 to $103.

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

Analyst Charles Duncan (CANTOR FITZGERALD) currently has the highest performing score on AXSM with 7/15 (46.67%) price target fulfillment ratio. His price targets carry an average of $26.91 (33.19%) potential upside. Axsome Therapeutics stock price reaches these price targets on average within 60 days.

Global-e Reports Financial Performance for Q4 and Full Year 2023

Global-e reported a Gross Merchandise Volume of $1.19 billion for the fourth quarter, representing a 42% year-over-year increase. Moreover, total revenues surged to over $185 million, reflecting a 33% year-on-year growth rate.

Global-e’s adjusted gross profit margin for the quarter stood at 42.7%. A 140 basis points improvement compared to the same period last year. The company’s adjusted EBITDA margin reached 19%, translating to $35.2 million in adjusted EBITDA for the quarter, marking a 62% growth compared to the previous year.

For the full year of 2023, GMV reached close to $3.56 billion, up over 45% year-over-year. Annual revenues exceeded $570 million, reflecting a 39% increase compared to the previous year.

The company’s adjusted gross profit margin for the full year reached 42.9%, an improvement of nearly 190 basis points year-on-year. Adjusted EBITDA for the full year surged to $92.7 million, up more than 90% compared to the previous year.

Analysts Provide Varied Perspectives on Price Targets

Needham analyst Scott Berg reiterated a Buy rating and a price target of $48.
Piper Sandler analyst Brent Bracelin maintained a Buy rating Online and a price target of $50.
Wells Fargo analyst Andrew Bauch lowered the price target to $40.

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

Analyst Brian Peterson (RAYMOND JAMES) currently has the highest performing score on GLBE with 7/10 (70%) price target fulfillment ratio. His price targets carry an average of $10.63 (35.00%) potential upside. Global-E Online Ltd stock price reaches these price targets on average within 98 days.