Rated Overvalued, Snapchat and Pinterest Shares Potentially Down

Author : ratnabukansih
Publish Date : 2021-03-23 10:50:24


Rated Overvalued, Snapchat and Pinterest Shares Potentially Down

Bank of America (BAC) downgraded the company to neutral from long positions, with its target price dropping to $ 67 from $ 87 and $ 78 from $ 94, respectively, StreetInsider reported.

Snapchat and Pinterest are both winners in the circumstances of this major pandemic, soaring more than 185% and more than 200%, respectively, in 2020. The firm states that the companies are trading above historical averages to price ratios. -Sales, and well ahead of Facebook (NASDAQ: FB ) when its revenue grew above 50% and margins were increasing.

Justin Post analysts said the upward move in bond yields, expected to reach 2.15% by the end of the year, makes any rate of increase from now less likely.

“We continue to view Snap (NYSE: SNAP ) and Pinterest as strong secular growth, expect a strong 1Q channel check to prop up stocks ahead of Q1 results, and anticipate accelerated growth in Q2, but we think investors are likely to become increasingly concerned. on more stringent 2H companies, particularly in the context of the broader economy that needs to accelerate, "the Post wrote in a note, according to StreetInsider.

At the same time, it upgraded its Booking (NASDAQ: BKNG ) rating to buy from hold with the expectation that a re-opening could encourage it to strengthen in the second quarter.

These include the most stressed companies in 2020, including the sectors of online travel (Booking), transportation (Uber (NYSE: UBER )) and underperforming stocks in eCommerce (RealReal (NASDAQ: REAL )) the analyst predicted. It set the estimated target price for Bookings at $ 2,950, compared with an average of $ 2,495.78, according to data compiled by Investing.com.

Fortinet shares soar after announcing investment in the 'work from home market'

Investing.com - Fortinet (NASDAQ: FTNT ) shares surged 2.65% to 179.12 in Monday trade (22/03) after the company made strategic moves to take advantage of opportunities arising from its new home work habit.

Fortinet has made a strategic investment of $ 75 million in subsidiary Foxconn Interconnect (HK: 6088 ) Interconnect Linksys, which provides router connectivity solutions to consumers and businesses worldwide.

Companies will work together to provide enterprise-level performance and security for a home work network.

On investor and analyst day March 9, Fortinet set 2023 targets for a $ 5 billion bill and $ 4 billion in revenue, both of which represent a three-year average return of about 17%, reviewed Seeking Alpha.

Following earnings, several analysts increased the share's share.

According to Seeking Alpha, analyst Mizuho Gregg Moscowitz maintains a neutral rating on Fortinet while raising its target price to $ 180 from $ 167, citing healthy long-term prospects and noting the company remains well positioned to gain market share in network security.

BMO raised its target to $ 195 from $ 180 where analyst Keith Bachman wrote that "the impressive prospects of CY23" will be supported by this firewall means above the market and growth of the SD-WAN network over the next few years. "

For the 2021 fiscal year, Fortinet estimates revenues in the range of $ 3.025 billion to $ 3.075 billion for bills seen between $ 3.56 billion and $ 3.64 billion.

Airbnb Stocks Weaken Amid Travel Sector Catalyst Expectations After Vaccinations

Investing.com - Airbnb (NASDAQ: ABNB ) shares moved lower in pre-market trading Tuesday (23/03) evening despite increasing expectations people will return to travel after being vaccinated and will likely choose to stay on their properties rather than in hotel chains big and others.

At 15.41 WIB, the share price fell 0.20% to 194.61 in pre-market trading Tuesday evening, according to Investing.com data and closed up 0.31% at 195.00 on Monday (22/03).

People consider Airbnb properties to be a safer option in the Covid era. The stocks caught the eye of investors as the vaccination program continued and people hoped to return to normal life soon. Marriott (NASDAQ: MAR ), Royal Caribbean (NYSE: RCL ) and Hilton (NYSE: HLT ) all fell in early trading Monday.

Vaccination programs are accelerating in some countries now. Initially it was sluggish because countries were still having difficulty deciding on priority groups. Vaccination is happening at a healthy pace in the US and UK , but has been stalled in Europe over concerns over the safety of the AstraZeneca (NASDAQ: AZN ) vaccine, the most reliable vaccine in European countries. Asian countries are also doing quite well after the vaccination program got underway.

In the US, eligible individuals began receiving $ 1,400 stimulus-aid checks from the Biden administration's $ 1.9 trillion budget last week. Part of the money is expected to be used for tertiary expenses such as traveling, eating out and watching movies.

Dollar Raises More Ahead of US Fed Chair & Finance Minister Testimonials

The United States dollar moved further upward on Tuesday (23/03) evening and focus now turns to the testimony of Fed chief Jerome Powell and US Treasury Secretary Janet Yellen and what impact their second statement had on bond yields

As of 3:00 p.m. EDT, the US dollar index continued to rise 0.26% to 91,983 according to Investing.com data. USD / JPY edged down 0.05% at 108.78 and EUR / USD is down 0.23% at 1,1904 after Germany , the largest country in the eurozone, continued its restrictive policy until April 18, while GBP / USD also continued to fall 0.20% at 1.3835.

In Indonesia, the rupiah ended up slightly strengthening 0.03% to 14,395.0 per US dollar at 14.57 WIB.

Meanwhile, NZD / USD fell 1.42% to 0.7061 at 15.03 WIB after the New Zealand government announced new measures to try and cool the conditions for rapid growth in property market prices as housing inventories increased and removed tax incentives for speculators. This development dragged AUD / USD down 0.76% to 0.7686.

However, attention this Tuesday will be on Federal Reserve Chair Jerome Powell and US Treasury Secretary Janet Yellen, who are scheduled to appear together for the first time before the US Financial Services Committee .

The US dollar has appreciated about 2% this month, driven in part by the increase in US bond yields and this has been hinted by Fed officials that they are ready to take it.

Godzilla vs Kong Pelicula Completa

Powell and Yellen are expected to be questioned about the pandemic response from the US Treasury and the US Federal Reserve, as well as potential risks from the Fed's super-loose policy including how far bond yields will rise.

The ten-year US bond yield continued to fall 1.03% to 1,665 at 14.59 WIB after rising above the 1.75% level last week.

“The DXY [dollar index] remains underpinned largely by sentiment for slow vaccine launches and new lockdowns in Europe - remember European FX weighs 77% on DXY. But you could say DXY should be doing even better than this given the 70bp + increase in US 10-year yields this year, ”said analysts at ING, in a research note.

Also of interest this week, the US Treasury will sell $ 60 billion in two-year bonds on Tuesday, $ 61 billion in five-year tenors on Wednesday and $ 62 billion in seven-year tenors on Thursday.

The US Treasury should sell lots of bonds to finance a substantial budget deficit. Even though the recent auction went well, the seven-year auction worth $ 62 billion, at the end of February, posted the lowest demand-to-maturity ratio on record and prompted a big increase in yields.

Meanwhile USD / TRY fell 0.22% to 7,7793 at 15.11 WIB after Turkish President Recep Tayyip Erdogan replaced central bank governor Naci Agbal with Sahap Kavcioglu at the weekend.

https://www.guest-articles.com/internet/want-a-long-lasting-smartphone-battery-here-the-solution-aeomedia-22-03-2021
https://sites.google.com/view/hd-godzilla-vs-kong-2021-1080p
https://www.thewyco.com/news/hard-to-believe-it-took-12-years-to-paint-this-milky-way-galaxy-22-03-2021
https://tehmayas.medium.com/godzilla-vs-kong-2021-wie-zal-de-strijd-tussen-hen-winnen-393927eb84ef
https://lisablackpink.cookpad-blog.jp/articles/582068
https://www.mydigoo.com/forums-topicdetail-247337.html

USD / CNY edged up 0.07% to 6.5118 after the European Union, UK and Canada imposed sanctions on Chinese officialson Monday for alleged human rights abuses againstUighur Muslims in northwest China.



Category : business

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