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Oppenheimer Holdings stock price
Oppenheimer Holdings latest news:
Roku stock downgraded by analyst: 'most expensive public internet company'
Oppenheimer analyst Jason Helfstein downgraded Roku Inc. to underperform because the stock's recent gains have made it difficult to justify the current valuation, he wrote in a Tuesday note to clients. Roku fell 13% to $36.95 during the regular session, and edged down less than 1% after hours. At its current prices, Helfstein says that Roku is the "most expensive publicly traded internet-based company on the basis of Platform revenue or Platform gross profit." Helfstein said that even though the company is a leading streaming device and software maker, and beat expectations with its third-quarter results, that does not justify that three-fold gain the stock as made since it went public at $14. Helfstein set a price target of $28. Roku shares have climbed 163% from the initial public offering price, with the S&P 500 index gaining 2.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Alibaba's stock rallies toward record close after analyst boosts price target
Shares of Alibaba Group Holding Ltd. ran up 2.3% in morning trade Monday, on track for a record close, after Oppenheimer raised its price target on the back of "another strong quarter." Last Thursday, the stock had hit an all-time intraday high of $191.22 after earnings and profit beat expectations, but the stock turned lower to close 0.7% below its Nov. 1 record close of $186.08, amid margin concerns. Oppenheimer analyst Jason Helfstein raised his stock price target to $220 from $200, as Alibaba's results have made him more bullish on valuations for the company's AliCloud and Ant Financial businesses, which offsets any concerns over lower retail margins. He reiterated the outperform rating he's had on the stock since he started covering it three years ago. "Overall, we believe [Alibaba] is uniquely positioned to benefit from the rise of Chinese middle-class consumption," Helfstein wrote in a note to clients. The stock has more than doubled year to date, while U.S.-based rival Amazon.com Inc. shares have rallied 50% and the S&P 500 has gained 16%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Fitbit's stock falls, but analyst stays bullish on upbeat outlook for Ionic smartwatch
Shares of Fitbit Inc. slumped 3.8% in afternoon trade Tuesday, even as Oppenheimer analyst Andrew Uerkwitz held firm with his bullish rating, citing valuation and the fitness-tracker company's long-term digital health positioning. Although reviews of Fitbit's new Ionic smartwatch weren't very upbeat, especially after Apple Inc. unveiled its Series 3 cellular-connected smartwatch, Uerkwitz said the fitness-first focus of Ionic, simple interface and broader array of accessories positions it to expand its target audience. "With expectations low, [Fitbit] doesn't need a mega hit," Uerkwitz wrote in a note to clients. "It just needs to show it understands what is needed for the coming digital health era: an easy-to-use device that provides robust data, coaching and a long battery life." Since Ionic was introduced in late August, Fitbit's stock has climbed 12%, while Apple shares have shed 5.1% and the S&P 500 has gained 3.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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