Selected stock price target news of the day - October 27th, 2023

By: Matthew Otto

 

Bristol-Myers Squibb’s Q3 2023 Report and Strategic Moves

In the third quarter of 2023, Bristol-Myers Squibb reported financial results, with total company sales reaching $11 billion. The new product portfolio, contributing $928 million in revenue, displayed gorwth, particularly with flagship oncology product Opdivo, which saw a global sales increase of 11%. Eliquis, the cardiovascular drug, continued its trajectory with $2.7 billion in revenue, driven by a 4% year-over-year growth in the U.S. despite challenges in international markets.

 

The company adjusted its outlook for the new product portfolio sales, expecting approximately $3.5 billion for the full year 2023. Notably, the immunology products Zeposia and Sotyktu showcased growth, with Zeposia recording global sales of $123 million, up 75% compared to the previous year, and Sotyktu achieving $66 million in sales during the quarter. Bristol-Myers Squibb also highlighted strategic moves in business development, emphasizing the planned acquisition of Mirati to strengthen and diversify its oncology portfolio. 

 

Analyst Ratings Reflect Mixed Sentiments in Recent Updates

  • Morgan Stanley’s Terence Flynn maintained an Underweight rating and lowered the price target from $56 to $50.
  • Barclays analyst Carter Gould reiterated an Equal-Weight rating and reduced the price target from $60 to $51.
  • BMO Capital’s Evan Seigerman downgraded from Outperform to Market Perform and set a $60 price target.
  • William Blair’s Matt Phipps downgraded from Outperform to Market Perform.
  • HSBC analyst Rajesh Kumar upgraded from Reduce to Hold and lowered the price target from $55 to $53

 

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

Analyst Mohit Bansal (WELLS FARGO) currently has the highest performing score on BMY with 3/5 (60%) price target fulfillment ratio. His price targets carry an average of $2.64 (4.52%) potential upside. Bristol-Myers Squibb stock price reaches these price targets on average within 13 days. 

 

 

 

Coursera 21% Revenue Growth and 6.5 Million New Learners in Q3 2023

In its Third Quarter 2023 Earnings Call, Coursera revealed its financial results reporting a 21% year-over-year increase in revenue. This is driven by a 27% growth in its Consumer segment. Notably, Coursera onboarded 6.5 million new learners during this quarter. The platform’s total registered learner base has now reached 136 million. Furthermore, the Enterprise segment showcased momentum, with over 1,300 Paid Enterprise Customers, signaling a 21% increase from the previous year.

 

The growth in the Consumer segment was fueled by Coursera’s entry-level professional certificates, contributing to revenue hitting $99 million. The gross profit for this segment was $51.8 million, though the gross margin experienced a decrease from 73% to 52%. The Enterprise segment reported revenue of $54.9 million, reflecting a 14% year-over-year increase. Coursera’s Degrees segment demonstrated revenue growth of $11.7 million, a 13% increase, with a total of 20,432 Degree students. Looking ahead, Coursera has revised its full-year outlook, anticipating revenue in the range of $628 million to $632 million, reflecting approximately 20% growth at the midpoint.

 

Analysts Bullish Ratings with Upgraded Price Targets

  • Morgan Stanley analyst Josh Baer maintained an Overweight rating and increased the price target from $21 to $22.
  • Needham analyst Ryan MacDonald reiterated a Buy rating and raised the price target from $19 to $21.
  • Telsey Advisory Group analyst Sarang Vora kept an Outperform rating and raised the price target from $20 to $22.
  • Keybanc analyst Jason Celino maintained an Overweight rating and adjusted the price target from $18 to $22.

 

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

Analyst Ryan Macdonald (NEEDHAM) currently has the highest performing score on COUR with 6/10 (60%) price target fulfillment ratio. His price targets carry an average of $8.88 (48.07%) potential upside. Coursera stock price reaches these price targets on average within 214 days.

 

 

 

Amazon’s Q3 Triumph: Tripled Profits, 13% Revenue Surge

Amazon’s third-quarter earnings reported a 13% increase in revenue to $143.1 billion, surpassing analysts’ expectations. CEO Andy Jassy’s aggressive cost-cutting measures, including the largest layoffs in Amazon’s history—27,000 jobs since last fall—and a freeze on corporate hiring, seem to have paid off. The net income more than tripled to $9.9 billion, or 94 cents per share, a jump from $2.9 billion, or 28 cents per share, in the same period last year.

 

Jassy’s focus on addressing inflation and rising interest rates has led to an operating margin of 7.8%, the highest since the first quarter of 2021. This marks an improvement from the 2% margin reported a year ago. Analysts Brent Thrill from Jefferies noted their positivity on Amazon’s continued margin improvements, anticipating acceleration in Amazon Web Services and long-term artificial intelligence tailwinds. Goldman Sachs analysts, Eric Sheridan, while acknowledging some questions about Amazon Web Services reacceleration and global consumer behavior, described Amazon’s Q3 report as a beat across the board, emphasizing a favorable risk-to-reward ratio and highlighting the company’s potential for solid revenue growth and expanding margins over a multi-year timeframe.

 

Analysts Bullish on Amazon with Multiple Price Target Raises

  • Barclays analyst Ross Sandler maintained an Overweight rating and raised the price target from $180 to $190.
  • Needham analyst Laura Martin reiterated a Buy rating and a $160 price target.
  • Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating and increased the price target from $160 to $165.
  • Goldman Sachs analyst Eric Sheridan raised the price target to $190.
  • Truist Securities analyst Youssef Squali raised the price target to $176.
  • Baird analyst Colin Sebastian increased the price target to $160.

 

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

Analyst Barton Crockett (ROSENBLATT) currently has the highest performing score on AMZN with 6/8 (75%) price target fulfillment ratio. His price targets carry an average of $7.18 (5.97%) potential upside. Amazon stock price reaches these price targets on average within 38 days.

 

 

 

Daily stock Analysts Top Price Moves Snapshot