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4 big analyst picks: YEXT riding high

AuthorDavit Kirakosyan Stock Markets

Published Jun 07, 2023 12:24

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MKC

-0.59%

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SMCI

-5.42%

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RARE

-0.62%

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YEXT

-0.72%

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Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Yext, McCormick, and Ultragenyx, and a Buy initiation at Super Micro Computer.

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Yext upgraded to Buy following Q1 beat

Roth/MKM upgraded Yext (NYSE:YEXT) to Buy from Neutral and raise its price target to $12.50 from $8.50.

Shares surged more than 17% pre-market today following the company’s Q1 results, with EPS of $0.09 and revenue of $99.5 million coming in above expectations. Management’s Q2/24 and full-year guidance also beat the consensus estimates.

Roth/MKM said it is encouraged by management's focus on sales execution and profitable growth, noting that the upcoming AI products unlock new TAM, and could help reposition the company as the de facto AI partner for large enterprises.

McCormick upgraded at BofA ahead of Q2 earnings

BofA Securities upgraded McCormick (NYSE:MKC) to Buy from Underperform and raised its price target to $100.00 from $75.00, as InvestingPro reported in real time.

The company is set to report its Q2/23 earnings on June 29. Street estimates stand at $0.57 for EPS and $1.66B for revenues.

2 more picks

Rosenblatt initiated coverage on Super Micro Computer (NASDAQ:SMCI) with a Buy rating and a price target of $300.00.

According to Rosenblat, the company’s TAM is expected to exceed $178 billion by 2027 supporting a sales CAGR of over 20%.

The company reported its Q3 results last month. While both EPS and revenues missed the consensus estimates, the company’s Q4/23 and full-year guidance came in above expectations.

Evercore ISI upgraded Ultragenyx (NASDAQ:RARE) to Outperform from In Line and raised its price target to $80.00 from $60.00.

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4 big analyst picks: YEXT riding high

Yext upgraded to Buy following Q1 beat

McCormick upgraded at BofA ahead of Q2 earnings

2 more picks

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