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SolarEdge Technologies (NASDAQ:SEDG) shares fell more than 4% yesterday after BofA Securities downgraded the company to Neutral from Buy and cut its price target to $181.00 from $320.00, as reported in real time on InvestingPro.
The bank noted that the company’s Q3/23 guidance was cautious, and they are growing more pessimistic about the outlook for component sales in the medium term following their recent checks with installers and distributors.
BTIG downgraded Marqeta (NASDAQ:MQ) to Sell from Neutral with a price target of $4.00.
According to the firm, Q2 results reported last week were impressive, but the more important headline was the renewal of a 4-year contract with Block’s (NYSE:SQ) Cash App.
Although BTIG maintains a positive view of Marqeta’s strong product offering, they are growing concerned about the challenges in the near and medium term. The declining take rates in both the Block and non-Block segments, coupled with a disappointing performance in non-Block revenue and the absence of a clear path to achieving profitability, led the firm cut its rating on Marqeta.
Easterly Government Properties (NYSE:DEA) shares dropped more than 5% yesterday after RBC Capital downgraded the company to Underperform from Sector Perform and cut its price target to $13.00 from $15.00.
Stifel downgraded Crestwood Equity Partners (NYSE:CEQP) to Hold from Buy with a price target of $28.00.
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