Market Updates: Analyst Ratings and Price Targets Shift for Key Stocks
- Warby Parker stock is predicted to rise by over 40% according to analysts.
- On the other hand, Peloton has been downgraded by analysts.
- Investors may want to consider these recommendations when making investment decisions.
In a recent report, a bank maintained its overweight rating and set a price target of $350 for Bill.com, indicating a potential upside of over 30% from its previous close. However, analyst Will Nance revised his 12-month price target down to $54 from $86, reflecting concerns over the company's mixed guidance. Bill.com has seen a significant decline of 38% this year, with revenue projections falling short of expectations and plans for increased investments to drive future growth. Meanwhile, Guggenheim has upgraded Roku to a buy rating, predicting a potential rally of more than 20% in the coming year. Despite a nearly 33% drop in Roku's shares this year, analyst Morris believes the stock is poised for recovery following a recent decline attributed to lower full-year guidance. The new price target for Roku is set at $92, up from $75, suggesting a further 13% increase from current levels. In other market movements, BJ's shares have surged over 22% in 2024, prompting an upgrade from equal weight to overweight by the same bank. Conversely, Piper Sandler has downgraded Peloton from overweight to neutral, lowering its price target to $5 from $7. Analyst Doug Anmuth noted Peloton's recent 35% stock gain following strong quarterly results as a factor in this decision, while maintaining a price target of $20, indicating a potential upside of 44%.