Sunedison Inc (NYSE:SUNE) is falling over 16% in early morning trading after the company and its yieldco, Terraform Power, delayed its 10K filing with the SEC. This marks the second delay of the filing, with the company announcing the first delay last month due to an internal investigation regarding the accuracy of the company’s financials. Sunedison attributed “material weaknesses” and “deficient information technology” to the delay this time around. The company was in the headlines recently due to the termination of a deal to acquire Vivint Solar.
According to TipRanks, out of the 15 analysts who have rated the stock in the past 3 months, 4 gave a Buy rating, 3 gave a Sell rating, and 8 remain on the sidelines. The average 12-month price target for the stock is $4.80, marking a 131% upside from current levels.
Chipotle Mexican Grill, Inc. (NYSE:CMG) is down over 5% in early morning trading after the company reported worse than expected sales for February in an SEC filing and warned of a loss per share for the next quarter. Due to a series of E.Coli and Norovirus outbreaks in recent months, the company reported that sales dropped 26.1% in February, compared to analyst estimates of a 23% drop. Chipotle also indicated that it will post a loss per share of ($1) for Q1, lower than estimates of $0.03 per share. This marks the first quarterly loss since going public as it battles with high costs associated with new food safety initiatives combined with decreased sales. The company’s promotion of free burritos in an effort to regain customer trust has also hurt sales in the recent weeks.
According to TipRanks, out of the 27 analysts who have rated the company in the past 4 months, 12 are bullish, 3 are bearish, and 12 remain on the sidelines. The average 12-month price target for the stock is $494.90, marking a 2% downside from current levels.
Oracle Corporation (NYSE:ORCL) is up over 3% in early morning trading after the company posted Q3:16 earnings yesterday, marked by impressive cloud revenue growth. The company posted revenues of $9. 1 billion, compared to estimates of $9.13 billion and earnings of $0. 64 per share, compared to estimates of $.062 per share. Its cloud software revenue came in at $735 million, up 40% y/y. The company has increased its focus on transitioning to the cloud, providing services through remote data-centers rather than selling an installed software base. The company also announced an additional $10 billion to its stock buyback authorization. Although the company suffered from a strong dollar, as over 50% of its revenue is derived abroad, the cloud revenue growth will make it a viable competitor in the industry.
Following earnings, analyst Brian White of Drexel Hamilton weighed in on ht stock, reiterating his Buy rating and raising his price target from $51 to $42. He states, “We believe the worst of this cloud transition is behind Oracle and our model indicates the company is past the trough in its operating profit cycle. In our view, Oracle offers investors the characteristics of a more defensive tech stock with the benefits of a rapidly growing cloud portfolio […] We believe Oracle has a once in a generation opportunity to make significant inroads with its SaaS portfolio […] More, we believe Oracle’s leading position in the relational database market will help drive the company to a top position in the PaaS market.”
According to TipRanks, out of the 27 analysts who have rated the company in the past 3 months, 15 gave a Buy rating, 2 gave a Sell rating, and 10 remain neutral. The average 12-month price target is $44.39, marking a 15% upside from current level.s
LinkedIn Corp (NYSE:LNKD) is down close to 4% in pre-market trading due to a downgrade by Morgan Stanley analyst Brian Nowak. The analyst downgraded the stock from Overweight to Equal weight and decreased his price target to $125 (from $190). The analyst attributes “slowing enterprise and online talent solutions growth,” combined with increased investment initiatives. According to Nowak, “With its current product offering, LinkedIn isn’t likely to be as big of a platform as [he] previously thought.”
According to TipRanks’ statistics, out of hte 29 analysts who have rated the stock in the last 3 months, 17 gave a Buy rating and 12 remain neutral. The average 12-month price target for the stock is $178.56, marking 55% upside from current levels.