Hertz Global and Block are two companies that saw their stock prices fall following downgrades from analysts. Hertz Global slid nearly 5% after Goldman Sachs downgraded the car rental company to a sell rating from neutral. Similarly, Block’s stock dropped 3% after Morgan Stanley lowered its rating to underweight from equal-weight, citing high market penetration and limited additional opportunity as reasons for the change. On the other hand, Zeta Global saw its stock rise 5% after Morgan Stanley upgraded the software firm to an overweight rating from equal-weight, expecting positive revisions to valuation and estimates.
Wayfair and Levi Strauss are two companies that saw their stock prices rise following upgrades from analysts. Wayfair, a home-focused e-commerce retailer, saw a nearly 5% increase after an Evercore ISI upgrade to outperform from in line. The firm believes that Wayfair can gain market share amid a recovery in the home furnishing space. Levi Strauss also saw its shares jump 8% after beating first-quarter expectations on both the top and bottom lines and raising its full-year profit guidance, posting adjusted earnings of 26 cents per share on $1.56 billion in revenue, surpassing analyst estimates.
Conagra Brands also saw a boost in its stock price, rising more than 4% after reporting fiscal third-quarter earnings and revenue that beat analyst estimates. The consumer packaged goods food company reported earnings of 69 cents per share on revenue of $3.03 billion, exceeding FactSet’s estimates. Lamb Weston, a french-fry producer, saw its shares rise nearly 1% ahead of its latest quarterly results, with analysts anticipating third-quarter revenue of $1.65 billion.
Intuitive Machines, a space stock, saw its stock price soar nearly 11% after securing a $30 million NASA contract to build a lunar terrain vehicle as part of NASA’s Artemis moon exploration campaign. Overall, these companies have shown mixed results following analyst ratings and earnings reports, with some experiencing stock price declines and others seeing increases. Investors will continue to monitor these companies as they navigate market pressures and capitalize on growth opportunities in their respective industries.
