Benzinga’s “5 Stocks Up 10%” aims to deliver investors the news surrounding hot stocks with significant price action on May 17, 2022.
The information provided for these hot stocks is compiled using the Movers and News tools in Benzinga Pro.
1. Take-Two Interactive Software Inc (NASDAQ:TTWO): Take-Two reported fiscal fourth-quarter revenue increased 11% year-over-year to $930 million, which beat the $882.1-million estimate. The company reported adjusted quarterly earnings of $1.09 per share, which beat the estimate of $1.04 per share.
Analyst Assessment:
Barclays PLC (NYSE:BCS) analyst Mario Lu maintained Take-Two with an Overweight rating and lowered the price target from $220 to $185.
Credit Suisse Group AG (NYSE:CS) analyst Stephen Ju maintained Take-Two with a Neutral rating and lowered the price target from $190 to $182.
Morgan Stanley (NYSE:MS) analyst Brian Nowak maintained Take-Two with an Overweight rating and lowered the price target from $215 to $195.
2. Aspen Technology, Inc (NASDAQ:AZPN): Shares climbed more than 11% on Tuesday after asset management firm Baron Funds mentioned Aspen Technology in an open letter to shareholders released Monday morning.
“Aspen, a leader in process automation software, gained after the company reported a 6% acceleration in organic growth. We expect Aspen to close its transformative deal with industrial equipment manufacturer Emerson this quarter.” More here.
Analyst Assessment:
Piper Sandler Companies (NYSE:PIPR) analyst Weston Twigg maintains Aspen Technology with a Neutral and lowered the price target from $170 to $159.
3. Paramount Global Class B (NASDAQ:PARA): Shares of Paramount surged more than 13% on Tuesday after it was revealed Berkshire Hathway Inc (NYSE: BRK.A) (NYSE: BRK-B) purchased 69 million shares of Paramount, worth around $2.6 billion. CBS and other cable channels are owned by Paramount. Pluto TV, an ad-supported streaming service, is also run by the company.
Analyst Assessment:
Deutsche Bank AG (NYSE:DB) analyst Bryan Kraft maintained Paramount with a Strong Buy rating and raised the price target from $43 to $45.
Needham analyst Laura Martin maintained Paramount with a Buy rating and lowered the price target from $45 to $36.
Credit Suisse analyst Douglas Mitchelson maintained Paramount with a Hold rating and lowered the price target from $46 to $42.
4. Coinbase Global Inc (NASDAQ:COIN): Shares of Coinbase are up more than 11% on Tuesday after the company announced that it would slow down its hiring pace following its lackluster earnings report.
Analyst Assessment:
JMP Securities analyst Devin Ryan maintained a Buy rating and lowered the price target from $394 to $250.
Canaccord Genuity analyst Joseph Vafi maintained a Strong Buy rating and lowered the price target from $342 to $275.
Goldman Sachs Group Inc (NYSE:GS) analyst Will Nance downgraded Coinbase to a Hold rating and lowered the price target from $240 to $80.
5. Sea Ltd (NYSE:SE): Shares are soaring on Tuesday after reporting better than expected first-quarter earnings. Sea beat estimated earnings by 31.62%, reporting an EPS of $-0.8 versus an estimate of $-1.17. Revenue was up $1.14 billion from the same period last year.
Analyst Assessment:
Stifel Financial Corp (NYSE:SF) analyst Scott Devitt upgraded Sea to a Strong Buy rating and raised the price target from $325 to $400.
JPMorgan Chase & Co (NYSE:JPM) analyst Ranjan Sharma downgraded Sea to a Hold rating and lowered the price target from $250 to $105.
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