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Top Stocks See Mild Dips Despite Strong Earnings and Strategic Moves

AInvestThursday, Aug 1, 2024 6:00 pm ET
1min read
1. Palantir Technologies (NYSE: PLTR)
Palantir Technologies dipped mildly by -2.55%. Citigroup and Jefferies both maintained their ratings on Palantir Technologies, raising their price targets to $28. Palantir reported Q1 2024 revenue of $634 million, an increase of 20.78% year-over-year.

2. Block (NYSE: SQ)
Block dipped mildly by -2.58%. Block reported its Second Quarter fiscal 2024 results with net revenue of $6.16 billion and adjusted EBITDA of $759 million. Bitcoin revenue for the quarter was $2.61 billion. Morgan Stanley maintained an Underweight rating with a $55 price target, while Macquarie set a target of $100.

3. Vertiv Holdings (NYSE: VRT)
Vertiv Holdings dipped mildly by -2.59%. Vertiv Holdings reported a 28.99% year-over-year increase in net profit for the first half of fiscal 2024, with revenues of $35.92 billion and net profit of $1.72 billion. Goldman Sachs maintained a Buy rating, setting a target price of $104.00.

4. Nike (NYSE: NKE)
Nike dipped mildly by -2.62%. Nike's transaction volume on July 31 reached $1.096 billion, up 73.94% from the previous day. TD Cowen maintained its hold rating on Nike and lowered the price target to $71. Nike's 2024 annual report showed revenue of $51.362 billion and net profit of $5.7 billion.

5. Sony Group (NYSE: SONY)
Sony Group dipped mildly by -2.71%. Sony acquired Bungie and initiated significant layoffs. Bungie will relocate part of its team to Sony studios, with leadership joining Sony. Bungie's CEO reportedly purchased a classic car for millions. Pixel-style VR game COMPOUND launches on PS VR2 next month.
Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.