U.S. markets open in 8 hours 59 minutes

  • S&P Futures

    3,767.25
    -24.00 (-0.63%)
     

  • Dow Futures

    30,723.00
    -186.00 (-0.60%)
     

  • Nasdaq Futures

    12,839.00
    -62.00 (-0.48%)
     

  • Russell 2000 Futures

    2,133.00
    -20.60 (-0.96%)
     

  • Crude Oil

    53.40
    -0.17 (-0.32%)
     

  • Gold

    1,851.60
    +0.20 (+0.01%)
     

  • Silver

    25.60
    -0.20 (-0.78%)
     

  • EUR/USD

    1.2145
    -0.0010 (-0.09%)
     

  • 10-Yr Bond

    1.1290
    -1.0880 (-100.00%)
     

  • Vix

    23.25
    -22.21 (-100.00%)
     

  • GBP/USD

    1.3676
    -0.0015 (-0.11%)
     

  • USD/JPY

    103.7950
    -0.0210 (-0.02%)
     

  • BTC-USD

    38,740.50
    -614.97 (-1.56%)
     

  • CMC Crypto 200

    737.53
    +32.91 (+4.67%)
     

  • FTSE 100

    6,801.96
    +56.44 (+0.84%)
     

  • Nikkei 225

    28,541.48
    -156.78 (-0.55%)
     

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Magnite, Inc. - MGNI

·1 min read

NEW YORK, NY / ACCESSWIRE / January 14, 2021 / Pomerantz LLP is investigating claims on behalf of investors of Magnite, Inc. ("Magnite" or the "Company") (NASDAQ:MGNI). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Magnite and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On January 7, 2021, analyst Spruce Point Capital Management ("Spruce Point") published a research report concerning Magnite. The Spruce Point report asserted that the Company's "investors are being misguided by Magnite's growth prospects and see 25%-50% downside," and that Magnite "continued to mask challenges with inaccurate financial reporting."

On this news, Magnite's stock price fell $1.70 per share, or 6.22%, to close at $25.61 per share on January 7, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com

SOURCE: Pomerantz LLP



View source version on accesswire.com:
https://www.accesswire.com/624435/SHAREHOLDER-ALERT-Pomerantz-Law-Firm-Investigates-Claims-On-Behalf-of-Investors-of-Magnite-Inc--MGNI

Latest Stories

  • Fannie Mae, Freddie Mac can keep future earnings, per agreement between Treasury and regulators

    ‘Until the Enterprises can raise private capital, they are at risk of failing in the next housing crisis,’ Federal Housing Finance Agency Director Mark Calabria said, in announcing the agreement.

  • Bank of America's 8 Best Stocks to Buy in Q1

    Here are analysts' top stocks to buy in the first quarter.The S&P 500 closed out 2020 at all-time highs on optimism surrounding additional government stimulus measures and a potential global economic rebound in 2021.

  • Sorrento Stock Could Hit $30, Says Analyst

    The major U.S. equity-indexes are hovering around all-time highs, and a question that frequently pops up these days, is whether some companies’ valuations might be overstretched. However, some operate at the opposite end of the spectrum, and could yet offer investors untapped opportunities. H.C. Wainwright analyst Ram Selvaraju points in the direction of Sorrento Therapeutics (SRNE), as one such company. Selvaraju rates SRNE a Buy along with a $30 price target, which implies a 275% upside from current levels. (To watch Selvaraju’s track record, click here) So, what’s behind the optimistic outlook? Well, for starters, Sorrento has a stake in two cell-based immunotherapy companies that could “drive value in Sorrento shares over the coming months.” One is Celularity, a clinical-stage cell therapeutics company focused on cellular medicines for cancer, infectious diseases, and degenerative diseases. Celularity is expected to go public later this year via a SPAC merger with GX Acquisition Corp. The merged company’s equity value following the transaction’s closure will land at roughly $1.7 billion. Selvaraju estimates Sorrento's position should be worth in the $200 million region. The second company is NantKwest, which recently signed a deal to merge with ImmunityBio. The transaction is expected to close in 1H21. Sorrento owns roughly 8.2 million shares of the clinical-stage immunotherapy company. These are currently worth around $121 million, going by NantKwest’s recent share price. Additionally, the analyst highlights Sorrento’s “burgeoning portfolio of assets spanning three distinct therapeutic areas (non-opioid pain management, oncology and COVID-19).” In fact, on the Covid-19 front alone, Sorrento has taken a broad-based approach and has a long list of diagnostic, prophylactic and therapeutic offerings in the pipeline, with “updates likely to come fast and furious.” These include two rapid detection tests; COVI-STIX, for which the company filed for Emergency Use Authorization (EUA) in the U.S. in December, and COVI-TRACE, which Selvaraju claims could come in handy at any mass gathering event. “We believe that the incentive to facilitate the large-scale and indeed ubiquitous deployment of the COVI-TRACE test is extremely high and governments worldwide may seek to implement this in their respective regions,” the 5-star analyst opined. Other Covid-19 candidates include COVIGUARD - a SARS-CoV-2 neutralizing antibody, COVI-AMG - an affinity-matured version of the COVIGUARD neutralizing antibody, a neutralizing antibody cocktail named COVI-SHIELD and COVIDTRAP, an ACE2 receptor decoy, intended to imitate the mammalian ACE2 receptor that acts as the primary portal for the SARS-CoV-2 virus to penetrate human cells. It has been relatively quiet when it comes to other analyst activity. In the last three months, only 2 analysts have issued ratings. However, as they were both Buys, the word on the Street is that SRNE is a Moderate Buy. Based on the $25.50 average price target, shares could climb 219% higher in the next twelve months. (See SRNE stock analysis on TipRanks) To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Four things that could pop the 'rational bubble' in equities: Mohamed El-Erian

    Four things could pop the "rational bubble" in equities, says Mohamed El-Erian — even if they're not likely to happen right now.

  • Fastest-Growing Stocks: Square Stock Among 7 Stocks Expecting Up To 156% Growth In 2021

    What are the fastest-growing stocks to watch in 2021? Here's a list featuring GRWG stock, Square, Daqo and four other stocks expecting up to 156% growth.

  • 8 Top Stocks Will Soar Again In 2021, Analysts Say

    Now's when many investors lament the top stocks they didn't own. But you have a second shot at some if analysts are right.

  • Virgin Galactic, Space Stocks Soar As Tesla Bull Eyes New ETF

    Virgin Galactic and other space stocks jumped Thursday on hopes for a new space-focused exchange traded fund.

  • 2 “Strong Buy” Stocks Trading at Steep Discounts

    Whether markets move up or down, every investor loves a bargain. There’s a thrill in finding a valuable stock at low, low price – and then watching it appreciate in the mid- to long-term. The key here for investors is finding options in which the risk/reward combination will work toward long-term advantage. So, how are investors supposed to distinguish between the names poised to get back on their feet and those set to remain down in the dumps? That’s what the pros on Wall Street are here for. Using TipRanks’ database, we pinpointed two beaten-down stocks the analysts believe are gearing up for a rebound. Despite the hefty losses incurred over the past 52 weeks, the two tickers have scored enough praise from the Street to earn a “Strong Buy” consensus rating. Theravance Biopharma (TBPH) We will start with Theravance, a biopharmaceutical company that focuses on developing organ-specific medications. It’s current pipeline includes drug candidates for the treatment of inflammatory lung and intestinal conditions, as well as neurogenicorthostatic hypotension. The research programs range from Phase 1 to Phase 3 trials. Theravance already has YUPELRI on the market as a COPD treatment. YUPELRI underlies the lion’s share of Theravance’s revenue, which in Q3 reach $18.3 million. This was up 47% year-over-year, and was driven by a 124% increase in YUPELRI sales. Of more immediate interest to investors is Trelegy Ellipta, GlaxoSmithKline’s new once daily inhaler medication developed as a maintenance treatment for asthma, which was approved by the FDA in September, 2020. This approval will give Theravance a slice of the income on a drug with a broad potential audience, as asthma affects more than 350 million people globally. Theravance owns royalty rights on Trelegy, with income estimated at 5.5% to 8.5% of total sales. Trelegy was initially approved in the US as the first once-daily single inhaler triple therapy for the treatment of COPD. Like many biopharmas, Theravance has high overhead and its approved drugs are at the start of their profitable lives. This keeps the net earnings and revenues down, at least for the near-term, and leads to a discount share price – TBPH has slipped 32% over the past 52 weeks. Covering the stock for Leerink, analyst Geoff Porges remains bullish on Theravance, mainly due to the combination of its robust pipeline and its approved treatments for lung diseases. “Theravance’s respiratory medicines are its key near-term valuation drivers… We still forecast ~$2.4B in WW Triple sales at peak (2027E). Beyond TBPH’s commercial/partnered assets, the company is also developing an improved JAK inhibitor (JAKi) partnered with JNJ (OP) for inflammatory bowel disease (IBD), and a norepinephrine and serotonin reuptake inhibitor (NSRI) TD-9855 (ampreloxetine) for neurogenic orthostatic hypotension (nOH). Each of these drugs leverages novel delivery of unique compounds against proven mechanisms-of-action and could offer superior safety and/or treatment effect, from their wider therapeutic windows,” Porges noted. To this end, Porges rates TBPH an Outperform (i.e. Buy) and gives it a $35 price target, implying an impressive one-year upside of 104%. (To watch Porges’ track record, click here) Overall, there are 5 reviews on file, and all are to Buy, making the Strong Buy consensus unanimous. TBPH shares are priced at $16.95, and their $33.60 average price target suggests a 97% upside from that level. (See TBPH stock analysis on TipRanks) NiSource, Inc. (NI) NiSource is a utility holding company, with subsidiaries in the natural gas and electricity sectors. NiSource provides power and gas to over 4 million customers in Indiana, Kentucky, Maryland, Massachusetts, Ohio, Pennsylvania, and Virginia. The majority of NiSource’s customers, about 88%, are in the gas sector; the company’s electric operations serve customers in Indiana only. The company saw revenues in the third quarter come in at $902 million, down from $962 in the prior quarter and $931 in the year-ago quarter. Overall, however, revenues have conformed to the company’s historic pattern: The second and third quarters are relatively low, while the top line increases with cold weather in Q4 and peaks in Q1. This is typical of utility companies in North America. Despite the lower year-over-year revenues, NiSource has felt confident enough to maintain its dividend payment, holding it steady at 21 cents per common share through 2020. This annualizes to 84 cents, and gives a yield of 3.8%. Not only has the company felt confident to pay income to shareholders, it has also felt confident to invest heavily in renewable energy resources. The company has a FY20 capital spending plan exceeding $1.7 billion, and is guiding toward $1.3 billion for FY21. These expenditures will fund ‘green’ energy projects. NI is currently trading at $21.67, a striking distance from its 52-week low. One analyst, however, thinks this lower stock price gives investors an attractive entry point today. Argus analyst Gary Hovis rates NI a Buy along with a $32 price target. This figure implies a 48% upside from current levels. (To watch Hovis' track record, click here) "NI shares appear favorably valued at 18.1-times our 2021 EPS estimate, below the average multiple of 21.6 for comparable electric and gas utilities," Hovis noted. "NiSource could also become a buyout target, as larger utilitiesand private equity firms have purchased smaller utilities because oftheir stable earnings growth and above-average dividend yields." Overall, Wall Street sees a clear path forward for NiSource – a fact clear from the unanimous Strong Buy consensus rating, based on 3 recent Buy-side reviews. The shares are selling for $21.68, and the average price target of $28.75 suggests an upside of ~32% on the one-year timeframe. (See NI stock analysis on TipRanks) To find good ideas for beaten-down stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Marijuana Stocks Jump On Democratic Senate; Are Any Good Buys Now?

    Marijuana stocks surged as a Democratic Senate adds to cannabis legalization momentum. Are any pot stocks good buys now amid profitability challenges?

  • I took care of my late mother for 8 years. Am I obliged to tell my sisters she made me co-owner of a substantial bank account?

    This daughter writes: ‘My conscience is getting the better of me, and I would like to be transparent about being the joint owner of this savings account.’

  • Dow Jones Futures: $1.9 Trillion Biden Stimulus Plan Unveiled; K-Shaped Stock Market Rally Yields Five Breakouts

    Futures were little changed on the $1.9 trillion Biden stimulus plan. The stock market rally faded Thursday, but Airbnb led new breakouts.

  • Buy Shopify, ServiceNow, and 5 Other Cloud Stocks, Says Oppenheimer

    Analyst Brian Schwartz says that investors may need to be more selective this year after last year’s rally in cloud-software stocks.

  • U.S. Blacklists Xiaomi in Widening Assault on China Tech

    (Bloomberg) -- Xiaomi Corp. plunged 11% after the Trump Administration blacklisted China’s No. 2 smartphone maker and 10 other companies, broadening efforts to undercut the expansion of the country’s technology sector.The U.S. has targeted scores of Chinese companies for the stated purpose of protecting national security, but going after Xiaomi was unexpected. The Beijing-based company has been viewed as China’s answer to Apple Inc., producing sleek smartphones that draw loyal fans with each new release. The company, which vies with Huawei Technologies Co. for the title of China’s No. 1 mobile device brand, also makes electric scooters, earphones and smart rice cookers.The news was “really surprising to me,” said Kevin Chen, a Hong Kong-based analyst at China Merchants Securities Co.The U.S. Defense Dept. identified Xiaomi as one of nine companies with alleged ties to the Chinese military -- which means American investors will be prohibited from buying their securities and will have to divest holdings by November.Other firms targeted include Luokong Technology Corp., Gowin Semiconductor Corp., Global Tone Communication Technology Co. and Advanced Micro-Fabrication Equipment Inc. Index stalwarts such as China’s three biggest telecom firms are already on the list.Xiaomi said in a statement it is not owned or controlled by the Chinese military, adding that it would take appropriate actions to protect its interests.Unless the ban is reversed, the smartphone maker risks being delisted from U.S. exchanges and deleted from global benchmark indexes. China Mobile Ltd., China Telecom Corp. and China Unicom Hong Kong Ltd. were removed by MSCI Inc. last week.The Trump administration’s blacklistings have focused on Chinese companies with military ties and strategic value to the industry’s growth. Semiconductor Manufacturing International Corp., China’s largest chipmaker and critical to the country’s ability to build a self-sufficient tech industry, was included in December.Xiaomi was co-founded by billionaire entrepreneur Lei Jun about 10 years ago, with U.S. chipmaker Qualcomm Inc. as one of the earliest investors. It’s since expanded well beyond China’s borders, particularly into Europe and India, becoming one of the country’s more recognizable brands. It surpassed Apple in global smartphone sales in the third quarter, according to the International Data Corporation, and joined Hong Kong’s benchmark Hang Seng Index in September.The move sent Xiaomi suppliers south on Friday: FIH Mobile Ltd., which helps it assemble smartphones, plunged as much as 14% after a strong rally in recent days. Component suppliers including Largan Precision Co., Sunny Optical Technology Group Co. and AAC Technologies Holdings Inc. also fell. Spreads on Xiaomi’s dollar bonds widened as much as 40 basis points Friday morning, according to credit traders.Read more: Xiaomi’s Market Value Tops $100 Billion, Reaching 2018 IPO GoalSeparately, the U.S. Commerce Dept. blacklisted China’s No. 3 oil company, China National Offshore Oil Corp., and Skyrizon, which develops military equipment. The Commerce designation is more severe and prohibits American firms from supplying those entities.Investors may be concerned that Xiaomi could be targeted by Commerce in the future, after the Defense Dept.’s move. Huawei was forced to sell off its Honor smartphone business after it was cut off from American suppliers, including Android-developer Google.Trump’s increasingly aggressive stance towards Chinese corporations has provoked Beijing, which views the litany of U.S. actions as a threat. The government this month issued new rules to protect its firms from “unjustified” foreign laws and previously talked about creating its own Unreliable Entities list, though no concrete retaliation has emerged.Despite Friday’s selloff, some investors held out hope that the incoming U.S. administration will reverse actions taken in the twilight days of Donald Trump’s presidency.“This is not going to be a priority for the Biden administration. This ruling will be reversed before November, so we are going to hold, and not just hold but be a buyer on this weakness,” Vanessa Martinez, a partner at Lerner Group, told Bloomberg TV. “This is just like that last parting shot against China by the Trump administration.”Chen of China Merchants Securities also argued the fallout for Xiaomi may be limited.“Many investors would choose to lock in profit since the stock rallied a lot in the past year,” he said. “But I think the impact on Xiaomi would be more sentimental than fundamental. These declines could be short-lived.”(Updates with potential impact for Xiaomi in 11th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Vinod Khosla Explains Why the EV Industry Is Worth Billions More Than Traditional Cars

    EV stocks have stayed hot in 2021 after a tremendous run in 2020. A legendary investor has a simple explanation.

  • Why Intel's CEO Transition Is A Negative For AMD: Analyst

    Intel Corporation (NASDAQ: INTC) shares have reacted positively to the company's announcement concerning the appointment of VMware, Inc. (NYSE: VMW) top brass Pat Gelsinger as its CEO.In a sympathy move, shares of rival chipmaker Advanced Micro Devices, Inc. (NASDAQ: AMD) pulled back, as investors perceive Intel's move as negative for the company.The AMD Analyst: BMO Capital Markets analyst Ambrish Srivastava downgraded AMD from Market Perform to Underperform and reduced the price target from $80 to $75.The AMD Thesis: AMD has done a "tremendous" job under CEO Lisa Su, Srivastava said in the downgrade note.The valuation of AMD shares reflected the near-flawless execution under Su, the analyst said. Intel's missteps opened up a "blue sky" scenario for AMD, helping it to gain market share at the expense of Intel, driving its valuation even higher, he said. Related Link: AMD Analyst Projects Strong Start To 2021 For ChipmakerAMD's share gains in servers will likely moderate in 2020, as a result of which the consensus estimates will prove optimistic, Srivastava said. BMO said its price target assumes AMD continuing to trade at a rich valuation, although lower than where it is currently trading.The price target assumes AMD shares trading at a PE multiple of 35 times the firm's calendar year 2022 EPS estimate of $2.15.AMD Price Action: AMD shares lost 1.08% Thursday, closing at $90.79, following a 3.8% pullback Wednesday.Related Link: Option Trader Bets M On Advanced Micro Devices Following CES Presentation Photo: VMWare.Latest Ratings for AMD DateFirmActionFromTo Jan 2021Cowen & Co.MaintainsOutperform Jan 2021BMO CapitalDowngradesMarket PerformUnderperform Nov 2020Wells FargoUpgradesEqual-WeightOverweight View More Analyst Ratings for AMD View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * 4 Intel Analysts On What New CEO Means For Chipmaker's Market Share, Turnaround * Intel Shares Hit 6-Month High As Chipmaker Replaces CEO Bob Swan With VMware's Gelsinger(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • JPMorgan Says Hydrogen Stock Plug Power Trades At 'Steep Price,' Downgrades FuelCell Energy

    Hydrogen power company Plug Power Inc (NASDAQ: PLUG) is both a first mover and fast mover in the hydrogen fuel cell space, but the stock trades a "steep price," according to JPMorgan.The Plug Power Analyst: Paul Coster initiated coverage of Plug Power with a Neutral rating and $60 price target.The Plug Power Thesis: Plug Power has been an early player in the $200-billion electrification of the transportation and logistics market, Coster said in a Thursday initiation note.The company is able to back up its year of operation with a proven proton exchange membrane technology, a strong balance sheet, and large customers and partners, the analyst said.This gives the company a compelling path to make $1.2 billion in sales by 2024 and generate a profit, he said. In fact, Plug Power's recent SK Group and Renault partnerships could lift its 2024 sales outlook to $1.7 billion, and revenue growth will continue to accelerate in 2025, Coster said. Yet JPMorgan's $60 price target is based on a discounted valuation model of 60 times the EV/2025 EBITDA forecast of $534 million."Welcome to hydrogen fuel cell investing," the analyst said. Related Link: Why Plug Power's Lead In Fuel Cell, Hydrogen Space Could Create 'Outsized Winner'Why JPMorgan Is Downgrading FuelCell: Separately, Coster downgraded FuelCell Energy Inc's (NASDAQ: FCEL) stock rating from Neutral to Underweight.The stock is up 70% since the start of 2021 and more than 800% over the last year. Shares are trading at around 50 times price/forward sales and are "richly valued" compared to peers, the analyst said. "At this point we expect the stock to underperform the mean of our coverage over the next 6-12 months, though we remain constructive regarding the Alt Energy sector in general." PLUG, FCEL Price Action: Shares of Plug Power lost 4.26% in Thursday's session, closing at $66.54, while FuelCell Energy plunged 8.05% to $17.60. Photo courtesy of Plug Power. Latest Ratings for FCEL DateFirmActionFromTo Jan 2021JP MorganDowngradesNeutralUnderweight Jan 2021JefferiesInitiates Coverage OnHold Dec 2020Canaccord GenuityInitiates Coverage OnHold View More Analyst Ratings for FCEL View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Plug Power CEO Highlights Democratic Senate Win, SK Contract(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • FuelCell Energy, Plug Power Stocks May Be Out Of Juice: Analyst

    Plug Power and FuelCell Energy received bearish marks from an analyst after they surged in recent months.

  • GameStop Stock Is up 100% in Two Days. How Much Higher Can It Go?

    On Wednesday, GameStop (GME) stock recorded its largest ever one day share haul, surging by a massive 57% in the session. This was followed by today's 27% jump. There appears to be some disagreement on Wall Street as to the cause behind the monster moves. As the stock has recently had extremely high short interest, some have put it down to a short squeeze. While Ihor Dusaniwsky, of predictive analytics company S3 Partners, believes the short covering was partly behind the buying spree, he doesn’t see it as the main reason for the surge. Rather, the reason lies elsewhere. “GME’s board shake-up and stronger holiday sales is causing a long-buying tsunami, which is the primary factor for the price move,” Dusaniwsky noted. On Monday, GameStop announced holiday quarter sales increased by 4.8% on a comparable-store basis while the company’s e-commerce sales jumped 308%, although overall sales dropped by 3.1%. Also, on Monday, the video game retailer announced that is refreshing its broad. The company said it hand RC Ventures - one of its largest shareholders - three new seats on the board of directors. One of these will go to Chewy co-founder Ryan Cohen. RC Ventures has previously said GameStop should review its strategy and pivot toward becoming more of a digital-centric technology company. While investors flocked to the stock since the dual announcements, for Wedbush analyst Michael Pachter, the comps figure was “below expectations.” While Pachter believes GameStop is “well-positioned to be a primary beneficiary of the new console launches,” the outlook remains too cloudy for him to truly get behind the stock at present. “The global pandemic remains a hurdle, and we expect it to remain a hurdle until the majority of GameStop’s addressable market is vaccinated. That said, we think that is likely to happen sometime around mid-2021, and we expect GameStop to complete its reboot initiative and the expansion of its ecommerce omnichannel solution by that time,” the analyst said. “We have a positive bias, and we think the company is positioned to generate solid profits in 2021 and beyond, but until we have greater visibility, we are unprepared to upgrade.” Accordingly, Pachter reiterated a Neutral (i.e. Hold) rating on GME shares backed by a $16 price target. Following the recent surge, the figure now suggests downside of ~60%. (To watch Pachter’s track record, click here) There’s even more downside according to the analyst consensus. The average price target stands at $10.72, indicating ~73% drop from current levels. Based on 1 Buy, 3 Holds and 2 Sells, the stock qualifies with a Hold consensus rating. (See GME stock analysis on TipRanks) To find good ideas for growth stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Tesla stock is 'very fully priced,' says investing legend Byron Wien

    Tesla shares look fully valued to investing legend Byron Wien of Blackstone. Here's what Wien told Yahoo Finance Live.

  • Exxon’s on a 9-Day Winning Streak. Here’s Why.

    As of Thursday afternoon, shares of Exxon (ticker: XOM)—up more than 4% on the day -- were on track for their ninth consecutive gain. A pipeline in the Permian Basin in which the company has a 30% stake won approval from the Federal Energy Regulatory Commission this week. Analysts at both J.P. Morgan and Morgan Stanley are now urging investors to buy the stock.