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The Latest Breaking News from Needham

TikTok's Smaller US Rival Files For IPO

Short video app Triller Inc has confidentially filed for an initial public offering with the U.S. SEC. Recently, Triller terminated its merger with video advertising software provider SeaChange International, Inc (NASDAQ:SEAC) when it shared plans to pursue an IPO with a potential listing under the ticker symbol "ILLR" by September. Also Read: Triller Merging With SeaChange International: What Investors Should…

Why Did Needham Lift Price Target For Trevi?

Why Did Needham Lift Price Target For Trevi?

Yesterday Trevi Therapeutics Inc's (NASDAQ:TRVI) Phase 2b/3 trial (PRISM) evaluating Haduvio (nalbuphine ER) for prurigo nodularis (PN) successfully met the key primary and secondary endpoints. Needham writes that Haduvio had a quick onset of action, reaching stat sig at 6 weeks with efficacy that had yet to plateau at the wk-14 readout. Trevi…

Analysts Still Believe Verrica's Ycanth Is Approvable Despite FDA Response Letter

Analysts Still Believe Verrica's Ycanth Is Approvable Despite FDA Response Letter

Verrica Pharmaceuticals Inc (NASDAQ:VRCA) held a Type A meeting with the FDA regarding the path forward for the resubmission and potential approval of Ycanth (VP-102) for molluscum contagiosum. HC Wainwright says VP-102 was approvable, and at the time of the Complete Response Letter (CRL), Verrica had already engaged a potential alternate solution supplier. It reiterates…

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Here's Why Needham Continues To See 105% Upside To Avalara Post Its Analyst Day

Needham analyst Scott Berg attended Avalara, Inc's (NYSE: AVLR) virtual analyst day, in which the company highlighted new products and provided intermediate-term financial targets that beat expectations.

Needham's Developer Checks For Wix.com Highlight Continued Funnel Weakness

Needham analyst Bernie McTernan reiterated a Buy rating and $85 price target on Wix.com Ltd (NASDAQ:WIX) following a round of web developer checks. He spoke with 22 developers in the WIX Marketplace to shed light on the broader funnel. They did not indicate any improvement. Failure of the funnel to return puts his 2H'22E and…

Thinking About Buying Stock Or Options In Robinhood Markets, Nio, Tesla Or Etsy?

Analysts and brokerage firms often use ratings when they issue stock recommendations to stock traders. Analysts arrive at stock ratings by researching public financial statements, communicating with executives and customers and following industry trends. Here are the latest analyst rating updates for Robinhood Markets, Nio, Tesla and Etsy:

Needham Remains Upbeat On DoorDash; Slashes Price Target By 29%

Needham analyst Bernie McTernan maintained DoorDash, Inc (NYSE:DASH) with a Buy rating and lowered the price target from $140 to $100 (42% upside). He believes DASH could leverage its leadership position in restaurant delivery to become one of the leading, horizontal, on-demand, last-mile fulfillment providers in North America. Ultimately, he thinks DASH would be able…

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Analysts Hailed CarMax's Q1 Performance While Highlighting Concerns

Analysts Hailed CarMax's Q1 Performance While Highlighting Concerns

Analysts lauded CarMax Inc's (NYSE:KMX) Q1 beat while also pointing out the macro concerns. RBC Capital analyst Steven Shemesh maintained CarMax with an Outperform and raised the price target from $104 to $108 in a note titled, "F1Q'23 Follow-Up – Navigating Volatility Well." KMX's results were broadly in line with expectations, Shemesh noted. He expected the inflationary…

Benzinga's Top Ratings Upgrades, Downgrades For June 27, 2022

Benzinga's Top Ratings Upgrades, Downgrades For June 27, 2022

Read Why Needham Is Bullish On This Pet Care Retailer

Read Why Needham Is Bullish On This Pet Care Retailer

Needham analyst Anna Andreeva upgraded Chewy Inc (NYSE:CHWY) to Buy from Hold with a price target of $55, implying a 44% upside. The analyst said the company had exceeded expectations in Q1 FY22 after missing consensus EBITDA for four quarters. Andreeva thinks the positive momentum continued in Q2 as the pet category was inelastic, with price increases sticking,…

Etsy Shares Drop As Needham Downgrades Stock Citing Near-Term Risks

Etsy Shares Drop As Needham Downgrades Stock Citing Near-Term Risks

Needham analyst Anna Andreeva downgraded Etsy, Inc (NASDAQ:ETSY) from Buy to Hold. While shares have lagged and some near-term volatility is arguably in the stock, she views the discretionary nature of the ETSY model as increasingly at risk in the near term. While visibility is low, she thought that consensus GMS and Sales estimates…

Needham Is Bullish On This Botox Equivalent Aesthetics Company

Needham Is Bullish On This Botox Equivalent Aesthetics Company

Needham initiated coverage on Evolus Inc (NASDAQ:EOLS) with a price target of $18.00 (43% upside) and a Buy rating. Evolus is a pure-play aesthetics company focused on growing the presence of Jeuveau, its new neurotoxin product, in the approximately $3 billion global wrinkle treatment market. Jeuveau is a prescription medicine injected into muscles to improve…

Ad Industry's Biggest Conference Returns With New Winner: Find Out Who

Ad Industry's Biggest Conference Returns With New Winner: Find Out Who

The advertising industry's biggest conference has returned with a new winner Amazon.com, Inc (NASDAQ: AMZN), after a two-year break, Bloomberg reports. Amazon occupied a portion of the beachfront at the annual Cannes Lions show with the "Amazon Port," its most extensive showcasing at the conference yet reflecting its growing significance. Tech companies like Alphabet Inc (NASDAQ:GOOG)…

Needham Expresses Bullishness On US Ride-Share Industry; Uber Remains On Conviction List

Needham Expresses Bullishness On US Ride-Share Industry; Uber Remains On Conviction List

Needham analyst Bernie Mcternan forecasted a 24% 3-year CAGR for U.S. ride-share bookings through 2025, down from the 45% CAGR in the three years heading into the pandemic. Company data, industry reports, and a proprietary survey of 500+ U.S. consumers supported the forecast.

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Here's Why Needham Predicts Taboola Shares To Double

Needham analyst Laura Martin reiterated Buy on Taboola.com Ltd (NASDAQ:TBLA) with a price target of $5 (95.3% upside). Martin cited the eMarketer report that advertising revenue on the Open Internet (excluding Walled Gardens like Amazon.com Inc (NASDAQ: AMZN), Meta Platforms Inc's (NASDAQ:META) Facebook, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, YouTube, Snap Inc (NYSE:SNAP), and Roku, Inc (NASDAQ:ROKU)) is about $40 billion in the U.S. and about…

Needham Sees Above 72% Upside In This Conviction List Stock; Here's Why

Needham analyst Chris Pierce anticipated CarGurus, Inc (NASDAQ: CARG) leveraging its industry-leading traffic metrics over the long term to create a compelling end-to-end digital solution for independent brick and mortar car dealerships.

Needham Lists Four Trends Aced By This Netflix Spin Off

Needham analyst Laura Martin saw Roku, Inc (NASDAQ: ROKU) as a pure-play way to invest in the growth of the U.S. over-the-top (OTT) and connected-TV (CTV) ecosystems.

Needham Remained Bullish On KLA Corp Post Investor Day - Read Why

Needham hailed KLA Corp's (NASDAQ: KLAC) 2022 Investor Day in NYC in a note titled "Investor Day Reveals New 2026 Model Targeting Revenue of $14bn and EPS of $38."

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Needham Considers It Futile For Meta To Compete With TikTok, YouTube, Amazon, Google

Needham's Laura Martin said Meta Platforms Inc's (NASDAQ: META) falling brand value is a lead indicator for rising customer acquisition costs, churn levels, and declining pricing power.

Here's Why Needham Sees Apple's Brand Value Worth At $1T

Needham analyst Laura Martin believes lifetime value (LTV) is the primary driver of upside value for Apple Inc (NASDAQ: AAPL) and that brand value is a leading indicator of LTV in a note titled "AAPL's Brand is Worth $1 Trillion."

Needham Lists Its Top Picks After Attending Fiber Connect 2022 Conference

Needham analysts Ryan Koontz and Chad Tevebaugh attended the Fiber Connect 2022 conference in Nashville. They heard from U.S. operators and met with many public and private companies in the broadband access space.

A Look At Needham's Top FinTech Picks

After another earnings season and coming off the 17th Annual NTMC, Needham analyst Mayank Tandon received updates from its entire coverage universe in recent weeks.

Petco Eyes Small Towns & Rural Communities - Check Out The New Location

Petco Health And Wellness Company Inc (NASDAQ:WOOF) has launched a new community-driven test concept to serve the wellness needs of pets and farm animals in small towns and rural communities. The company will open its first location under the concept on June 17 in Floresville, Texas. Related: Here's Why Needham Is Bullish On This Pet…

Read What Needham Thinks About Blink Charging's SemaConnect Deal

Needham analyst Vikram Bagri raised the price target for Blink Charging Co (NASDAQ:BLNK) to $27 (an upside of 78%) from $25 while maintaining the Buy rating on the shares after the company acquired SemaConnect. The analyst sees eligibility for NEVI funding from newfound eligibility under the Buy America requirement as the biggest near-term deal benefits,…

Needham Sees Reasonable Forecasts For Haemonetics, With Some Tailwinds

Haemonetics Corporation's (NYSE: HAE) analyst day later this month may include an update on its businesses, new products, margin outlook, and financial targets for FY24-FY26.

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