International Business Machines Corp. (NYSE:IBM) is down over 5% in pre-market trading after the company posted its Q1:16 revenues yesterday after market close. The company reported revenues of $18.68 billion, compared to consensus estimates of $18.29 billion, and earnings of $2.35 per share compared to estimates of $2.09 per share. Despite beating estimates, the company reported its lowest revenue in 14 years. While “strategic imperative” revenue, including cloud, mobile computer, security software, and data analytics rose 14 % in Q1, the company’s services revenue declined 4.3%, while its hardware segment fell 21.8%.
According to TipRanks, out of all the analysts who have rated the company in the past 3 months, 20% gave a Buy rating, 20% gave a Sell rating, and 60 % remain on the sidelines. The average 12-month price target for the stock is $136.54, marking a 10% downside from where shares last closed.
Capstone Turbine Corporation (NASDAQ:CPST) is down over 26% in pre-market trading after yesterday’s announcement of an offering of common stock and warrants. The company did not provide further details on the amount of common stock in the offer, a completion date, or other details. Capstone intends to use the funds generated from the offering for general working capital requirements and general corporate purposes. According to TipRanks, only one analyst rated the company in the last 3 months with a Hold rating and $1.60 price target, marking a 36% downside from where shares last closed.
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is soaring more than 20% in pre-market trading up to $4 after the company announced this morning that the FDA accepted the company’s New Drug Application for plecanatide, indicated to treat chronic idiopathic constipation. The FDA will accept or reject the drug by late January, 2017. According to TipRanks, both analysts who have rated the stock in the last 3 months are bullish with an average 12-month price target of $13.50, marking over a 300% potential upside from where shares last closed.
eBay Inc (NASDAQ:EBAY) is down over 3% in pre-market trading after Morgan Stanley analyst Brian Nowak rated the stock. The analyst downgraded the company to Underweight from Equal weight without a price target due to his survey results which suggest that an uncertain international buying environment. Specifically, he notes that international markets heavily relying on buyers for growth, as well as increased spend per buyer, are currently at risk. Furthermore, the company faces stiff competition from Amazon in its European market due to the latter’s more unique product offerings and Amazon Prime.
According to TipRanks, out of all the analysts who have rated the company in the last 3 months, 30% are bullish, 10% are bearish, and 60% remain on the sidelines. The average 12-month price target for the stock is $27.50, marking a 9% upside from where shares last closed.