| 2021-12-02 10:04:04|
WISH, HIBB… 10:04 12/02 12/02/21
Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. ContextLogic (WISH) downgraded to Neutral from Buy at UBS with analyst Kunal Madhukar estimating that the company continues to see revenue declines. 2. Hibbett Sports (HIBB) downgraded to Neutral from Buy at BofA with analyst Alexander Perry expecting lower consumer demand beginning in the January quarter as Hibbett "begins to lap significant consumer stimulus" compares. 3. C3.ai (AI) downgraded to Underperform from Neutral at BofA with analyst Brad Sills saying he is encouraged by the move to non-cancellable RPO, which should provide some revenue visibility, as well as the commentary suggesting meaningful pipeline builds for joint solutions with Google (GOOGL) and Microsoft (MSFT), but thinks that near-term uncertainty introduced by execution challenges and the departure of CFO David Barter are likely to be an overhang on the shares. 4. Choice Hotels (CHH) downgraded to Hold from Buy at Loop Capital with analyst Daniel Adam saying the analyst is "generally constructive" on global lodging trends heading into 2022, but is not forecasting a return to 2019 RevPAR levels until 2023, at the earliest. 5. Pinterest (PINS) downgraded to Neutral from Buy at UBS with analyst Lloyd Walmsley saying his estimates are below consensus on Pinterest revenue and user growth due to evidence of continued app usage declines, "deteriorating" advertising checks and a "suspect product pivot." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.