4 big analyst picks: Roblox a buy after Q1
Investing.com -- Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Roblox, Axon Enterprise, Alcoa , and InterDigital.
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Roblox upgraded to Buy, shares jump on Q1 beat
Roblox (NYSE:RBLX) shares rose more than 2% pre-market today after Roth/MKM upgraded the company to Buy from Neutral and raised its price target to $48.00 from $37.00, as InvestingPro reported in real time.
Shares surged more than 7% yesterday after the company reported its Q1 results, highlighted by a revenue beat, average daily users growth of 22% to 66.1 million, and average bookings per DAU of $11.70 (flat year-over-year).
Axon upgraded after Q1 beat, shares plunge on slowing growth worries
JPMorgan upgraded Axon Enterprise (NASDAQ:AXON) to Overweight from Neutral with a price target of $236.00.
The company reported its Q1 results, with EPS of $0.88 and revenue of $343M beating the consensus estimates. Furthermore, the company raised its full-year revenue guidance. While on the surface numbers look good, investors are worried about the possibility of slowing growth as future contracted revenue, though reaching a record high this quarter, grew just 3% year-over-year. As a result, shares plunged more than 15% yesterday.
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2 more upgrades
Credit Suisse upgraded Alcoa (NYSE:AA) to Outperform from Neutral with a price target of $50.00.
The company reported its Q1 earnings last month, missing on EPS and revenue estimates.
InterDigital (NASDAQ:IDCC) shares gained more than 6% yesterday after BofA Securities upgraded the company to Buy from Underperform and raised its price target to $105.00 from $55.00 on impressive Q1 results and strong pipeline over the next 12 months, and TAM expansion.
The firm said it is bullish on the medium-term outlook and strong management team, noting likely upside on the Samsung (KS:005930) and Lenovo revenue contributions as another key driver.
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