Pro Recap: The Trade Desk, DraftKings, Braze, Editas Medicine, and Medpace Receive Analyst Upgrades
The Trade Desk: Buy Rating from Two Firms
The Trade Desk (NASDAQ:) saw a 3% rise in shares after Loop Capital and Cantor Fitzgerald initiated coverage with a Buy rating. Loop Capital set a price target of $95.00, stating that The Trade Desk offers long-term growth opportunities in the technology and media sectors. The analysts believe that the company is driving transformation in the advertising industry through data and technological advancements. Cantor Fitzgerald also gave a Buy rating and a price target of $95.00, highlighting the stock’s growth potential. Shares were trading at $75.97.
DraftKings Upgraded to Buy
DraftKings (NASDAQ:) received an upgrade from MoffettNathanson, bumping its rating to Buy from Neutral and raising its price target to $37.00. The analysts noted that the company has strategically cut back on expenses while investing in long-term competitive advantages. DraftKings has outperformed expectations in terms of revenues and market share, positioning itself as a leader in online sports betting and iGaming. The analysts expressed strong conviction in the DraftKings story. Shares were up 5.9% to $29.80.
Braze Sees Upgrade
Braze (NASDAQ:) shares surged after DA Davidson upgraded the company to Buy from Neutral and raised the price target to $53.00. The upgrade followed Braze’s 2023 Forge event and Klaviyo’s (NYSE:) IPO. The analysts believe that Braze’s consistent growth, even in challenging market conditions, and its anticipated transition to profitability make it an attractive investment. They also highlighted Braze’s strong customer base and its focus on customer engagement. Shares were climbing 4.3% to $44.46.
Editas Medicine Gets Buy Rating from Citi
Editas Medicine (NASDAQ:) saw a 7% jump in shares after Citi upgraded the stock to Buy from Neutral and set a price target of $11.00. The analysts noted that the stock price had dropped by over 30% without any major changes in the company’s outlook. They believe that Editas Medicine’s valuation presents a favorable risk/reward profile. The analysts expect two upcoming events to boost the stock’s value: the exa-cel AdCom and the company’s report on updated data for EDIT-301. Shares were trading at $6.68.
Medpace Upgraded to Outperform
Baird upgraded Medpace (NASDAQ:) to Outperform from Neutral and raised the price target to $289.00 following the company’s Q3 beat. Shares were up 16.3% to $264.59. Baird’s upgrade reflects confidence in Medpace’s performance and growth prospects.
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