Analysts downwardly revised their ratings and price targets on salesforce.com, inc. (CRM), Five Below Inc (FIVE), and JetBlue Airways Corporation (JBLU)
Analysts are weighing in on cloud computing specialist
salesforce.com, inc. (NYSE:CRM), retail stock
Five Below Inc (NASDAQ:FIVE), and airline
JetBlue Airways Corporation (NASDAQ:JBLU). Here's a quick roundup of today's bearish brokerage notes on CRM, FIVE, and JBLU.
- CRM is sinking today, down 4.8% at $75.63 -- putting the stock in negative year-to-date territory -- following its earnings release last night. Despite topping analysts' earnings-per-share estimates, the company announced a downbeat sales outlook. As such, price-target reductions have come in from at least six brokerage firms, ranging from $85 to $96. Of course, the analyst community is still a huge fan of salesforce.com, inc., with 24 of 26 covering analysts rating it a "strong buy."
- After diving out of the gate, FIVE pared its losses to 1.5% at $43.88, after the company posted a fiscal second-quarter earnings beat, with a current-quarter outlook lower than expected. Deutsche Bank responded to this by trimming its price target to $45 from $46. Five Below Inc has put in a strong year, gaining 37% so far, and short sellers have been showing signs of unease. Specifically, short interest on Five Below Inc declined by almost 10% in the last two reporting periods, but 13% of the stock's total float is still sold short.
- JBLU is feeling pressure from a price-target cut to $20 from $24 at Raymond James, with the shares last seen 0.4% lower at $15.89. This is just another display of technical weakness from JetBlue Airways Corporation, which has stair-stepped lower from its 2016 breakeven mark of $22.65. More bearish notes are a possibility if the stock continues to struggle, considering 71% of analysts still rate it a "buy" or better.
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