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Thursday Afternoon Analyst Upgrades and Downgrades: Bandwidth, Live Nation, Krispy Kreme, Twilio, Zendesk and More
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The broad markets were mixed on Thursday afternoon as earnings continued to roll in. The Dow Jones pulled back from its record intraday level on Wednesday. The S&P 500 also notched its sixth straight day of gains, which was its longest winning streak since the beginning of July. Apart from earnings, Bitcoin backed off its record level with about a 6% loss on the day so far.
24/7 Wall St. is reviewing some big analyst calls seen on Thursday. We have included the latest call on each stock, as well as a recent trading history and the consensus targets among analysts. Note that analyst calls seen earlier in the day were on Activision, Biogen, Carnival, Lam Research, Tesla, Zoom and more.
AudioCodes Ltd. (NASDAQ: AUDC): Jefferies downgraded to a Hold rating from Buy with a $38 price target. Barclays started with an Underweight rating and a $32 price target. The 52-week range is $25.90 to $37.00, and the share price is roughly $34.
Bandwidth Inc. (NASDAQ: BAND): Barclays started with an Overweight rating and a $160 price target. Shares were trading near $92 on Thursday, and the consensus price target is $165.82.
Live Nation Entertainment, Inc. (NYSE: LYV): Evercore ISI resumed coverage with an In-Line rating. The 52-week trading range is $47.97 to $102.85, and the share price is near $100.
LivePerson, Inc. (NASDAQ: LPSN): Barclays downgraded to an Underweight rating from Overweight and cut the price target to $50 from $80. Shares were trading around $53, with a 52-week range of $47.62 to $72.23.
Krispy Kreme, Inc. (NASDASQ: DNUT): HSBC Securities downgraded to a Hold rating from Buy with a $14 price target. Shares were trading near $13 on Thursday, and the analysts’ consensus target price is $20.50.
Resolute Forest Products Inc. (NYSE: RFP): CIBC downgraded to a Neutral rating from Sector Perform with a $15 price target. Shares were trading around $13, above the consensus price target of $21.03.
Twilio Inc. (NYSE: TWLO): Barclays initiated coverage with an Equal Weight rating and a $375 price target. Shares were trading near $370 apiece. The consensus price target is $472.17.
Vonage Holdings Corp. (NASDAQ: VG): Barclays started with an Overweight rating and a $20 price target. Shares were trading near $16 on Thursday, and the consensus target price is $17.64.
Zendesk, Inc. (NYSE: ZEN): Barclays initiated coverage with an Overweight rating and a $170 price target. The 52-week trading range is $103.28 to $166.60, and the share price is near $176.81.
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