Illumina Inc. (ILMN) was reiterated an ‘Hold’ by Canaccord Genuity analysts on Wednesday. The broker however, cut its price target on the stock to $140 from $160 following last night’s earnings release. The San Diego, CA – based provider of solutions for genetic analysis handed in earnings of $0.71 per share on revenue of $571.8 million, missing Wall Street estimates of $0.74 per share on revenue of $580.44 million.
Illumina recently traded at $133.90, a gain of $0.26 over Tuesday’s closing price. The name has a current market capitalization of $19.69 billion.
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Zillow Group, Inc. (ZG) was reiterated as ‘Buy’ with a $34 from $26 price target on Wednesday by Canaccord Genuity. The Seattle, WA-based operator of real estate and home-related information marketplaces missed bottom-line estimates for the first quarter, handing in earnings of ($0.13) per share on revenue of $186 million. Analysts had been modeling $176.52 million and ($0.10) per share. The company however, raised Q2 revenues of $203-$208 million, as compared to analysts’ expectations of $193.44 million, and FY16 revenue guidance above-consensus.
Shares of Zillow are up 13% at $29 and change as of this writing.
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Pfizer Inc. (PFE) rating of ‘Buy’ was reiterated today at UBS with a price target increase of $38 from $36 (versus a $33.70 previous close).
Valuation Measures
Pfizer Inc. shares are priced at 30.01x this year’s forecasted earnings. The company’s current year and next year EPS growth estimates stand at 5.90% and 9.40%, compared to the industry growth rates of 35.60% and 31.50%, respectively. PFE has a t-12 price-to-sales ratio of 4.26. EPS for the same period registers at $1.11.
Pfizer shares have advanced 9.70% in the last 4 weeks and 12.94% in the past three months. Over the past 5 trading sessions the stock has gained 1.97%. The $206.62 billion market cap New York City-based company has a median Street price target of $37.00 with a high target of $54.00.
Pfizer Inc. is up 1.60% year-over-year, compared with a 0.81% loss in the S&P 500.
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Shares of Etsy, Inc. (ETSY) are up $0.21 to $8.61 in midday trading. Wedbush reiterated this morning its ‘Neutral’ rating and increased its 12-month base case estimate on the name by 1 point to $10 a share. Etsy reported top&bottom-line beats after yesterday’s close. In its quarterly report, the company said it earned $0.01 per share, well above the ($0.03) loss per share analysts were expecting. Revenue rose 39.8% YoY to $81.8 million, above views for $75.63 million.
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Wedbush this morning lowered its price target on the shares of Glu Mobile, Inc. (GLUU) to $2.65 from $3.30 following the company’s first-quarter 2016 beat, but worse than expected Q2 and FY16 guidance. In its quarterly report, the San Francisco-based mobile games maker said it lost ($0.03) per share, well below the ($0.05) per share analysts were expecting. Revenue fell 13.5% YoY to $54 million, above views for $48.21 million. Glu issued downside guidance for Q216, forecasting EPS loss of ($0.06)-($0.05), excluding non-recurring items, versus ($0.04) consensus.
Shares are down more than 15 percent at time of writing to $2.25.
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