Micron Technology, Inc. (NASDAQ:MU) shares are down 1.18% to $18.50 in pre-market trading, after analyst Richard Whittington of Drexel Hamilton downgraded Micron from a Buy to a Hold rating, and reduced the price target to $19 (from $25), which represents a slight upside potential from current levels. According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Richard Whittington has a total average return of 19.6% and a 77.5% success rate. Whittington has a 24.5% average return when recommending MU, and is ranked #286 out of 3765 analysts. Out of the 23 analysts polled by TipRanks, 17 rate Micron stock a Buy, 5 rate the stock a Hold and only one recommends to Sell. With a return potential of 58.44%, the stock’s 12-month consensus target price stands at $29.66.
Zynga Inc (NASDAQ:ZNGA) shares increased 3.67% to $2.54 in pre-market trading on Friday, after the social gaming company reported second-quarter results, which were better than expected as strong performance from recent launches helped to offset user declines. In response, Wedbush analyst Michael Pachter noted, “Notwithstanding our optimism, Zynga is likely to remain a “show me” story until it demonstrates that it can grow bookings. The company must deliver “solid singles” and an occasional double before investors will bid its shares higher.” According to TipRanks’s data, 11 out of 17 analysts who cover Zynga stock rate it as a Hold, 4 rate it as a Buy, and only 2 rate it as a Sell. The 12-month month price objective on the stock is $4.50, which represents upside potential of 83.67% from where the stock last closed.
NVIDIA Corporation (NASDAQ:NVDA) shares soared more than 9% to $22.35 in pre-market trading, after the graphics chip company reported a good second-quarter and guide despite a tough environment. Against a tough macro environment and despite investor concerns, NVDA reported strong growth in Gaming GPUs. NVDA reported revenues and Street-comparable EPS of $1.15B/$0.17, vs. the Street’s consensus of $1.1B/$0.10. In reaction, Canaccord analyst Matt Ramsay increased the price target for the stock to $23 (from $21), while keeping his rating at Hold. Out of 15 analysts polled by TipRanks, six recommend to Buy NVDA, eight recommend to Hold, and only one recommends to Sell the stock. The average 12-month price target on the stock is $22.25, marking over a 8.80% potential upside from last closing price. On average, the top analyst consensus for NVIDIA on TipRanks is Hold.
Bitauto Hldg Ltd (ADR) (NYSE:BITA) shares are set to open lower today after the online automotive-marketing company reported disappointing earnings yesterday evening, with softer-than-expected advertising sales growth in its second quarter as well as weaker-than-anticipated third quarter guidance. However, some bright spots included promising ecommerce metrics, with more meaningful ecommerce revenue contribution to top-line this quarter and strong transaction volume during the first six months of 2015. In response, Brean Capial analyst Anne Shih noted, “We expect the company’s investments in new transaction-based services and traffic acquisition to continue through the second half of the year, pressuring margins further. While we are encouraged by the ramp in the company’s new value-added services, we are concerned with the more-rapid-than-anticipated deceleration in advertising, traffic acquisition costs, and visibility on normalized margin levels.” Click Here to see the performance of analyst Anne Shih.