Selected stock price target news of the day - February 9th, 2024

By: Matthew Otto

PayPal Reports Q4 Earnings, Issues Cautious Guidance Amid Market Volatility

PayPal’s fourth-quarter performance showcased financials, with adjusted earnings per share coming in at $1.48, exceeding the $1.36 expected by analysts. The company reported a revenue of $8.03 billion, surpassing expectations of $7.87 billion. The quarterly results indicated a 9% increase in revenue compared to the same period the previous year, which stood at $7.38 billion. Notably, net income witnessed a surge of 52%, reaching $1.4 billion, or $1.29 per share, compared to $921 million, or 81 cents per share, in the corresponding quarter of the previous year. The total payment volume for the quarter reached $409.8 billion, marking a 15% increase from the prior year and surpassing the $405.51 billion anticipated by analysts.

PayPal’s active accounts saw a 2% decline to 426 million, falling short of the 427.17 million expected by analysts. The company’s projection for the full year indicated earnings of $5.10 per share, slightly below the $5.48 anticipated by analysts. Furthermore, PayPal estimated year-over-year earnings per share growth would fall in the mid-single digits, compared with a consensus estimate of 8.7%.

Analyst Ratings Reflect Mixed Sentiments and Price Adjustments

DZ Bank analyst Werner Eisenmann downgraded from Buy to Hold and set a $60 price target.
JP Morgan analyst Tien-Tsin Huang maintained an Overweight rating and lowered the price target from $75 to $70.
BMO Capital analyst Rufus Hone maintained a Market Perform rating and reduced the price target from $65 to $60.
JMP Securities analyst David Scharf reiterated a Market Outperform rating and a $68 price target.
Canaccord Genuity analyst Joseph Vafi maintained a Buy rating and lowered the price target from $100 to $80.
Citigroup analyst Ashwin Shirvaikar maintained a Buy rating and reduced the price target from $76 to $73.
Stephens & Co. analyst Charles Nabhan reiterated an Equal-Weight rating and a $70 price target.
RBC Capital analyst Daniel Perlin maintained an Outperform rating on PayPal Holdings and increased the price target from $70 to $74.
Mizuho analyst Dan Dolev maintained a Neutral rating on PayPal Holdings and decreased the price target from $65 to $60.
Wedbush analyst Moshe Katri reiterated an Outperform rating on PayPal Holdings with an $85 price target.

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

Analyst Werner Eisenmann (DZ BANK) currently has the highest performing score on PYPL with 3/3 (100%) price target fulfillment ratio. His price targets carry an average of $8.9 (15.86%) potential upside. Paypal Holdings stock price reaches these price targets on average within 33 days.

Confluent Q4 Results and Upbeat 2024 Outlook

Confluent unveiling its fourth-quarter financial results that exceeded market expectations. The company reported earnings of 9 cents per share for Q4, outpacing the anticipated 5 cents per share, and disclosed a revenue of $213.2 million, surpassing the consensus estimate of $205.3 million. This marks an improvement from the same quarter the previous year, where Confluent posted a loss of 9 cents per share on revenue of $168.7 million.

Analysts responded to the results, with Guggenheim’s Howard Ma raising the price target on Confluent’s stock to $35 from $26, maintaining a Buy rating. Furthermore, the company’s outlook for 2024, with an expected revenue of around $950 million, demonstrates a 22% increase from the previous year and surpassed Wall Street estimates. Confluent Cloud revenue is expected to continue its upward trajectory, with a projected $105 million for Q1, marking a 43% growth.

Analysts Bullish as Price Targets Raised Following Q4 Results

JP Morgan analyst Pinjalim Bora maintained a Neutral rating and raised the price target from $23 to $27.
Scotiabank analyst Nick Altmann reiterated a Sector Perform rating and increased the price target from $22 to $28.
Barclays analyst Raimo Lenschow kept an Overweight rating and upgraded the price target from $26 to $33.
JMP Securities analyst Patrick Walravens maintained a Market Outperform rating and raised the price target from $25 to $38.
Goldman Sachs analyst Kash Rangan maintained a Neutral rating and increased the price target from $24 to $27.
Mizuho analyst Gregg Moskowitz kept a Buy rating and raised the price target from $29 to $34.
RBC Capital analyst Matthew Hedberg reiterated an Outperform rating and raised the price target from $30 to $35.

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

Analyst Karl Keirstead (UBS) currently has the highest performing score on CFLT with 5/5 (100%) price target fulfillment ratio. His price targets carry an average of $2.25 (9.47%) potential upside. Confluent stock price reaches these price targets on average within 69 days.

Alibaba’s Q3 2023 Results: Growth and Investments

During Alibaba Group’s December quarter 2023 results conference call, the company reported a total consolidated revenue of $40.7 billion, indicating a 5% increase compared to the same period the previous year. The adjusted EBITDA also reached $8.3 billion, showcasing a 2% increase. In terms of net income, the non-GAAP net income was reported at $7.6 billion, reflecting a 4% decrease, primarily attributed to changes in investment values and impairments.

Breaking down the performance by segment, Taobao and Tmall Group’s revenue amounted to $20.1 billion, demonstrating a 2% increase. Alibaba Cloud’s revenue reached $4.5 billion, marking a 3% growth, while Alibaba International Digital Commerce Group reported revenue of $4.5 billion, a 44% increase year-over-year. Cainiao, Alibaba’s logistics arm, contributed to the figures, with a revenue growth of 24%, totaling $4.5 billion.

Analysts Lower Price Targets Amid Market Uncertainty

JP Morgan analyst Alex Yao maintained an Overweight rating and lowered the price target from $110 to $105.
Goldman Sachs analyst Ronald Keung maintained a Buy rating and lowered the price target from $121 to $105.
Mizuho analyst James Lee reiterated a Buy rating and downgraded the price target from $100 to $95.
Susquehanna analyst Shyam Patil reiterated a Positive rating and decreased the price target from $150 to $135.
Macquarie analyst Ellie Jiang downgraded from Outperform to Neutral and announced a $85.4 price target.

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

Analyst Colin Sebastian (BAIRD) currently has the highest performing score on BABA with 31/45 (68.89%) price target fulfillment ratio. His price targets carry an average of $20.59 (29.66%) potential upside. Alibaba Group Holding stock price reaches these price targets on average within 163 days.