|Over a week ago|
Upwork downgraded to Neutral on slowing growth at Guggenheim » 07:1501/2401/24/20
UPWK, ADP, CDAY, CSOD, PAYC, PCTY, WDAY, BNFT
As previously reported,…
As previously reported, Guggenheim analyst Nandan Amladi downgraded Upwork (UPWK) to Neutral from Buy with a price target of $11, down from $25. Growth rates slowed down during the first half of 2019 and he is concerned that the pursuit of larger enterprise deals may mean longer sales cycles, posing a potential headwind to 2020 revenue growth at a time when the company's CEO change could complicate things further, Amladi tells investors. In his broader note about the Human Capital Management space and Upwork's peers, Amladi said that he believes the healthy employment backdrop and an accommodative Fed both bode well for HCM stocks. He raised his price target on ADP (ADP) shares to $200 from $185, raised his price target on Ceridian (CDAY) to $85 from $60, upped his Cornerstone OnDemand (CSOD) target to $75 from $70, increased his Paycom (PAYC) target to $300 from $225, raised his Paylocity (PCTY) target to $150 from $115 and increased his Workday (WDAY) to $240 from $235 while lowering his price target for Benefitfocus (BNFT) to $40 from $50.
Upwork downgraded to Neutral from Buy at Guggenheim » 06:4701/2401/24/20
Guggenheim analyst Nandan…
Guggenheim analyst Nandan Amladi downgraded Upwork to Neutral from Buy with an $11 price target.
|Over a month ago|
Tesla price target boost, Ford downgrade among today's top analyst calls » 11:1401/0201/02/20
TSLA, F, RNSDF, UPWK, SIG, CPRI, GIII, DBI
Check out today's top…
Fly Intel: Top five analyst downgrades » 10:1301/0201/02/20
F, UPWK, SIG, ICPT, HBI
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ford (F) downgraded to Underperform from In Line at Evercore ISI with analyst Chris McNally saying that in 2020, the "weak will likely get weaker" in 2020 and the strong OEMs/suppliers may start to dominate. 2. Upwork (UPWK) downgraded to Neutral from Buy at Citi with analyst Hao Yan citing the stock coming under pressure since the company's Q3 results amid a weaker growth outlook and believes that a Neutral rating with a "high risk" classification is warranted because of the sector re-rating, recent CEO departure, regulatory overhand, and decelerating Gross Services Volume. 3. Signet Jewelers (SIG) downgraded to Underweight from Equal Weight at Wells Fargo with analyst Ike Boruchow saying the retail group had a "very challenging" 2019 due to a confluence of factors including tariff concerns and tough compares, adding that Signet's core business continues to struggle, with credit remaining an overhang. 4. Intercept (ICPT) downgraded to Neutral from Buy at Citi with analyst Joel Beatty saying the 95% run-up in the stock since September and contends that its NASH launch has been "appropriately priced in." 5. Hanesbrands (HBI) downgraded to Underweight from Equal Weight at Wells Fargo with analyst Ike Boruchow saying the retail group had a "very challenging" 2019 due to a confluence of factors including tariff concerns and tough compares, and says core weakness is persisting at Hanesbrands, with Champion decelerating. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Fly Intel: Pre-market Movers » 09:0301/0201/02/20
AXE, TSLA, SAVA, WATT, AMD, UMPQ, SIG, ICPT, HBI, UPWK
HIGHER: Anixter (AXE), up…
HIGHER: Anixter (AXE), up 2% after agreeing to a further amendment and restatement of the amended merger agreement with Clayton, Dubilier & Rice to increase the per-share consideration payable to Anixter's shareholders to $93.50 per share in cash... Tesla (TSLA), up 2% after Reuters reports the company will begin delivering its first Chinese-made Model 3 sedans to the public on January 7. Additionally, Canaccord analyst Jed Dorsheimer raised his price target on Tesla to $515 from $375 as he believes the trend toward electrification will only accelerate in 2020... Cassava Sciences (SAVA), up 36% after chairman Remi Barbier disclosed his purchase of $553,000 in shares... Energous (WATT), up 11% after announcing that its partners PiBEX, an R&D subsidiary of Posco Worldwide, and SK Telesys are developing an ultra-wideband tracking tag for Posco, a Korean-based global steel manufacturer, which will include integration with the WattUp RF wireless charging technology... AMD (AMD), up 2% after Nomura Instinet analyst David Wong raised his price target on the stock to $58 and kept his Buy rating, saying the company should continue strengthening its competitive position in 2020 with a "steady stream" of new product launches in in the 7nm and 7nm+ technologies... Umpqua (UMPQ), up 3% after Stephens analyst Tyler Stafford upgraded shares to Overweight from Equal Weight with a price target of $21, up from $16. LOWER: Signet Jewelers (SIG), down 3% after Wells Fargo analyst Ike Boruchow downgraded the stock to Underweight from Equal Weight with a price target of $12, down from $16, as part of a broader research note on retailers and specialty softlines... Intercept (ICPT), down 2% after Citi analyst Joel Beatty downgraded shares to Neutral from Buy but raised his price target to $140, up from $85. The analyst notes the 95% run-up in the stock since September and contends that its NASH launch has been "appropriately priced in"... Hanesbrands (HBI), down 1% after Wells Fargo analyst Ike Boruchow downgraded the stock to Underweight from Equal Weight with a price target of $12, down from $15, stating that core weakness is persisting at Hanesbrands, with Champion decelerating... Upwork (UPWK), down 2% after Citi analyst Hao Yan downgraded shares to Neutral from Buy with a price target of $12, down from $23.
Upwork downgraded to Neutral from Buy at Citi » 06:2101/0201/02/20
Citi analyst Hao Yan…
Citi analyst Hao Yan downgraded Upwork to Neutral from Buy with a price target of $12, down from $23. The analyst cites the stock coming under pressure since the company's Q3 results amid a weaker growth outlook and believes that a Neutral rating with a "high risk" classification is warranted because of the sector re-rating, recent CEO departure, regulatory overhand, and decelerating Gross Services Volume.
Upwork call volume above normal and directionally bullish » 13:2512/1012/10/19
Bullish option flow…
Bullish option flow detected in Upwork with 1,541 calls trading, 11x expected, and implied vol increasing over 1 point to 47.82%. Jan-20 15 calls and Jan-20 10 puts are the most active options, with total volume in those strikes near 860 contracts. The Put/Call Ratio is 0.64. Earnings are expected on February 27th.
Upwork CEO Stephane Kasriel to step down, Hayden Brown to succeed » 17:1012/0912/09/19
Upwork (UPWK) announced…
Upwork (UPWK) announced the initiation of a leadership transition. Stephane Kasriel, President & CEO, has informed the Board of his decision to step down at year end 2019, and the Board has appointed Hayden Brown, current Chief Marketing & Product Officer, to succeed Kasriel as President & CEO, effective January 1, 2020. Kasriel will remain involved with Upwork as an advisor to the company, and will continue to serve on the Board of Directors through the company's 2020 annual meeting of stockholders. Brown will also join the company's Board of Directors. Brown most recently led Upwork's product, design and marketing teams, developing and marketing a platform that enables talented professionals and businesses to seamlessly find each other and work successfully together on projects large and small. Prior to joining Upwork, she was the head of corporate development at LivePerson and previously held several strategy and M&A roles at Microsoft (MSFT).
|Over a quarter ago|
Upwork price target lowered to $20 from $25 at RBC Capital » 08:2611/0711/07/19
RBC Capital analyst Mark…
RBC Capital analyst Mark Mahaney lowered his price target on Upwork to $20 after its mixed Q3 results, with revenue and EBITDA topping forecasts and Q4 guidance coming in below expectations. The analyst is keeping his Outperform rating, stating that the company's further investments in enterprise sales should benefit the company long-term.
Fly Intel: After Hours Movers » 19:3711/0611/06/19
VNDA, DXCM, IVC, LVGO, CECO, BL, GDDY, SAIL, TXMD, RAMP, REI, ELF, CNDT, QCOM, FISV, RDFN, DVAX, BIDU, EBS, NEWT, ANGI, ESTE, IQ, FOXA, ARDX, WK, VSLR, PAAS, CHRS, WYNN, SQ, FOSL, TPIC, RKDA, PBYI, BAND, ROKU, SRTS, GLUU, EXPE, RUBI, QTWO, FSCT, RST, LCI, QUOT, RP, TRIP, UPWK, CVNA, RCII, SEDG, KGC, AGIO, ARVN
UP AFTER EARNINGS: Vanda…
UP AFTER EARNINGS: Vanda Pharma (VNDA) up 21.7%... DexCom (DXCM) up 18.0%... Invacare (IVC) up 14.3%... Livongo Health (LVGO) up 13.9%... Career Education (CECO) up 11.4%... BlackLine (BL) up 10.7%... GoDaddy (GDDY) up 10.0%... Sailpoint (SAIL) up 9.2%... TherapeuticsMD (TXMD) up 8.8%... LiveRamp (RAMP) up 8.1%... Ring Energy (REI) up 8.1%... e.l.f. Beauty (ELF) up 7.4%... Conduent (CNDT) up 7.4%... Qualcomm (QCOM) up 5.8%... Fiserv (FISV) up 5.3%... Redfin (RDFN) up 4.6%... Dynavax (DVAX) up 4.5%... Baidu (BIDU) up 4.4%... Emergent Biosolutions (EBS) up 4.3%... Newtek Business (NEWT) up 4.1%... Angi Homeservices (ANGI) up 3.9%... Earthstone Energy (ESTE) up 3.8%... iQIYI (IQ) up 3.7%... Fox Corp (FOXA) up 3.4%... Ardelyx (ARDX) up 2.9%... Workiva (WK) up 2.8%... Vivint Solar (VSLR) up 2.7%.. Pan American Silver (PAAS) up 2.6%... Coherus Biosciences (CHRS) up 2.4%... Wynn Resorts (WYNN) up 1.9%... Square (SQ) up 1.4%. DOWN AFTER EARNINGS: Fossil Group (FOSL) down 26.7%... TPI Composites (TPIC) down 21.1%... Arcadia (RKDA) down 19.2%... Puma Biotech (PBYI) down 18.0%... Bandwidth (BAND) down 15.2%... Roku (ROKU) down 15.1%... Sensus Healthcare (SRTS) down 14.6%... Gluu Mobile (GLUU) down 13.9%... Expedia (EXPE) down 12.5%... Rubicon (RUBI) down 9.4%... Q2 Holdings (QTWO) down 9.3%... Forescout (FSCT) down 6.6%... Rosetta Stone (RST) down 6.5%... Lannett (LCI) down 6.1%... Quotient Technology (QUOT) down 5.8%... RealPage (RP) down 5.6%... TripAdvisor (TRIP) down 5.3%... Upwork (UPWK) down 4.5%... Carvana (CVNA) down 4.3%... Rent a Center (RCII) down 4.3%... SolarEdge (SEDG) down 3.6%... Kinross Gold (KGC) down 2.3%. ALSO LOWER: Agios Pharma (AGIO) down 5.3% after equity offering... Arvinas (ARVN) down 1.8% after equity offering. Movers as of 18:30ET.