The Latest Breaking News from Needham

Airbnb Inc (NASDAQ: ABNB) shares traded higher by 4.9% on Wednesday after the company reported big first-quarter earnings growth and said it expects a sharp rebound in summer travel in 2022 as pandemic headwinds abate.

Needham has decided to maintain its Buy rating of MagnaChip Semiconductor (NYSE:MX) and lower its price target from $29.00 to $25.00. Shares of MagnaChip Semiconductor are trading down 4.83% over the last 24 hours, at $17.35 per share.

Masimo Corp's (NASDAQ:MASI) Q1 revenue increased 1.7% Y/Y (+3.2% on a constant currency basis) to $304.2 million, beating the consensus of $303.83 million. Excluding handheld and fingertip pulse oximeters, shipments of noninvasive technology boards and instruments were 75,700 in Q1 of 2022. The adjusted operating margin remained unchanged at 22.9%. The company reported…

Upgrades

Accolade Inc (NASDAQ:ACCD) shares plunged almost 50% after disappointing Q4 FY22 earnings and FY23 guidance. Q4 FY22 revenue increased 58% Y/Y to $93.8 million, beating the consensus of $91.57 million. The company reported a wider net loss of $(34.56) million compared to $(4.73) million a year ago. EPS loss came at $(0.51)…

Needham has decided to maintain its Buy rating of Teleflex (NYSE:TFX) and lower its price target from $400.00 to $355.00. Shares of Teleflex are trading down 1.62% over the last 24 hours, at $290.71 per share. A move to $355.00 would account for a 22.11% increase from the current share…

Shares of PayPal Holdings Inc (NASDAQ: PYPL) gained 11% on Thursday after the company reported a revenue beat but cut its 2022 guidance.

A brutal 12 months for Teladoc Health Inc (NYSE: TDOC) went from bad to much worse on Thursday when the stock dropped another 43% after the company reported much larger-than-expected losses in the first quarter and slashed its 2022 guidance.

Needham lowered MKS Instruments, Inc. (NASDAQ: MKSI) price target from $185 to $175. MKS Instruments shares rose 3.6% to $116.01 in pre-market trading.

Needham has decided to maintain its Buy rating of Calix (NYSE:CALX) and lower its price target from $73.00 to $60.00. Shares of Calix are trading up 3.28% over the last 24 hours, at $39.34 per share. A move to $60.00 would account for a 52.52% increase from the current share…

Cadence Design Systems, Inc (NASDAQ:CDNS) impressed analysts post Q1 beat. Baird reiterated Outperform rating on Cadence, adjudging it as a top idea.  All business groups saw strength, with recurring revenues increasing 19% YoY (led by Digital and System Design) and upfront revenues rising 49% YoY.  FY22 outlook raised given 1Q strength, upside in 2Q,…