Shopify, Lennar, Rocket, and D.R. Horton Surge on Strong Earnings and Upgrades

1. Shopify (NYSE: SHOP)
Shopify surged by 8.57%. Shopify reported Q1 2024 revenue of $1.861 billion. Wolfe Research initiated coverage with an Outperform rating and $80 price target. Citigroup maintained its Buy rating, raising the target to $96. Evercore ISI upgraded to Outperform with a $75 target. JP Morgan initiated with Overweight and a $74 target. Target partners with Shopify.

2. Lennar (NYSE: B)
Lennar surged by 6.84%. Oppenheimer and DA Davidson maintain positive ratings on Barnes Group, with a price target of $48.00. For Q1 2024, Barnes Group reported revenue of $431 million and net profit of $1.947 million. Annual shareholders' meeting scheduled for May 3, 2024.

3. Rocketmpanies (NYSE: RKT)
Rocketmpanies surged by 6.8%. Barclays and JP Morgan maintain their underweight ratings on Rocket Companies, with price targets set at $10.00 and $13.50, respectively. Rocket Companies reported Q1 2024 revenue of $1.384 billion. Multiple insider transactions were disclosed in June 2024.

4. D.R. Horton (NYSE: DHI)
D.R. Horton surged by 6.65%. D. R. Horton will report its third quarter financial results on July 18, 2024. Evercore ISI Group maintains outperform with a price target of $205, while Barclays maintains overweight with a target of $168. Citigroup downgrades to neutral, lowering the price target to $156.

5. Lennar (NYSE: LEN)
Lennar surged by 6.58%. Lennar's mid-2024 report shows revenue of $16.079 billion, up 10.61% YoY, with net income at $1.681 billion. Evercore ISI raised its price target to $240 while maintaining an Outperform rating. Wedbush upgraded Lennar to Neutral with a $144 target. Both Citigroup and Raymond James downgraded Lennar to Neutral and Market Perform respectively.