In this article, we discuss the 5 most important stock analyst ratings to watch. If you want to read our detailed analysis of these companies, go directly to 10 Most Important Stock Analyst Ratings to Watch.
5. Skechers U.S.A., Inc. (NYSE:SKX)
Number of Hedge Fund Holders: 28
Shares of Skechers U.S.A., Inc. (NYSE:SKX) closed higher on Wednesday, June 15, 2022, after receiving an upgrade from Argus. The research firm improved its ratings for the footwear company from “Hold” to “Buy” and set a price target of $44 per share for the stock.
Argus analyst John Staszak believes that Skechers’ supply-chain measures and strong brand would likely boost its profit and sales over the next two years. Staszak also lifted his fiscal 2022 and fiscal 2023 earnings projections for the company by 5 cents each to $3 per share and $3.75 per share, respectively. The revised earnings projections reflect new products, improved margins, and growth across its online, retail and wholesale channels.
4. Sonos, Inc. (NASDAQ:SONO)
Number of Hedge Fund Holders: 30
Morgan Stanley downgraded Sonos, Inc. (NASDAQ:SONO) from “Overweight” to “Equal Weight” and cut its price target for the maker of the audio products from $38 per share to $28 per share.
Morgan Stanley analyst Katy Huberty said the spending intentions of high-end consumers have started to wane, with overall consumer confidence at a decade low and inflation at a 40-year high. Referring to a survey, Huberty said most respondents expect to limit spending in the coming months due to inflationary pressures.
3. Digital Realty Trust, Inc. (NYSE:DLR)
Number of Hedge Fund Holders: 31
Digital Realty Trust, Inc. (NYSE:DLR) recently received an upgrade from Deutsche Bank. The research firm improved its ratings for the California-based real estate investment trust from “Hold” to “Buy.”
Deutsche Bank analyst Matthew Niknam thinks that Digital Realty Trust, Inc. (NYSE:DLR) is well set to capitalize on several secular tailwinds like data growth and digital transformation across businesses.
2. Spotify Technology S.A. (NYSE:SPOT)
Number of Hedge Fund Holders: 49
Shares of Spotify Technology S.A. (NYSE:SPOT) jumped over seven percent on Wednesday, June 15, 2022, after Wells Fargo upgraded the Swedish music streaming platform from “Underweight” to “Equal Weight.”
The research firm also raised its price target for Spotify Technology S.A. (NYSE:SPOT) from $101 per share to $124 per share, saying the company could be more profitable than previously thought. Wells Fargo analyst Steven Cahall seemed particularly impressed by Spotify’s recent investor day, where the company laid out plans to improve margins.
Cahall now anticipates a profit margin of 27.1 percent for 2023, compared to his previous projection of 26.3 percent. He believes that gross margin in music and podcasting would likely be driven by Spotify’s investments to boost engagement and monetization.
1. Marvell Technology, Inc. (NASDAQ:MRVL)
Number of Hedge Fund Holders: 63
Shares of Marvell Technology, Inc. (NASDAQ:MRVL) plummeted to a new 52-week low after B. Riley lowered its ratings for the Delaware-based semiconductor company from “Buy” to “Neutral,” citing fading demand and increasing input costs.
B. Riley analyst Craig Ellis referred to PHLX Semiconductor Sector Index (SOX), which has dropped more than 30 percent so far in 2022. He also warned about a challenging second half amid a record drop in the U.S. consumer sentiment driven by consistently high inflation.
Marvell Technology, Inc. (NASDAQ:MRVL) shares are now down about 48 percent on a year-to-date basis, including the latest drop in its share price.
You can also take a peek at 10 Cheap Chinese Stocks To Buy and 10 Favorite Stocks of Dan Loeb’s Third Point.
