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https://i-invdn-com.investing.com/news/LYNXNPEF1B0XL_M.jpgInvesting.com — Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday’s close: downgrades for Shopify, Skyworks Solutions, XPO, and Nabors Industries.
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Shopify (NYSE:SHOP) fell more than 1% premarket today after Atlantic Equities downgraded the company to Neutral from Overweight following a shares surge on Q1 results:
Shares jumped nearly 24% on Thursday after the company reported better-than-expected EPS and revenues and said it will cut 20% of its global workforce. The company also said it will sell Shopify Logistics to Flexport.
BMO Capital downgraded Skyworks Solutions (NASDAQ:SWKS) to Market Perform from Outperform and cut its price target to $100.00 from $140.00, as InvestingPro reported in real time.
Shares plunged nearly 10% premarket today after the company reported in-line Q2 earnings and worse-than-expected Q3 guidance as a challenging macro backdrop continues to weigh on the company’s performance.
Stifel downgraded XPO (NYSE:XPO) to Hold from Buy while raising its price target to $51.00 from $48.00.
The company reported its Q1 results on Thursday, with both EPS and revenues coming in better than the consensus estimates.
Barclays downgraded Nabors Industries (NYSE:NBR) to Equalweight from Overweight and cut its price target to $150.00 from $250.00.
Last week, the company reported its Q1/23 earnings, beating the Street expectations.
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