Here are Friday's biggest analyst calls: Nvidia, Amazon, Microsoft, Coinbase, Lyft, Affirm, Boeing, Tapestry & more
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CNBC
2 hours ago
- CNBC
Bank of America upgrades Snowflake heading into earnings, sees more than 20% upside
Bank of America is growing bullish on Snowflake one week before it releases second-quarter earnings results. The Wall Street investment bank upgraded its investment opinion on the maker of cloud data warehousing software to buy from neutral, and raised its price target to $240 from $220, implying more than 24% upside from Tuesday's close. The upgrade comes ahead of the company's results for the quarter that ended July 31, due to be released post-market Aug. 27. BofA analyst Brad Sills expects "solid" financials, reinforcing a multi-year cycle of strong growth. "While we believe that Q2 earnings will be a catalyst for the stock given multiple positive data points outlined below, our call is for outperformance over the long term given incremental traction with products addressing a [significantly] larger addressable AI market for software of $155bn," he wrote on Wednesday. Sills also believes that recent web data signals upside for Snowflake's product revenue, citing second-quarter SimilarWeb total page views rising 42% year-over-ear. He estimates that product revenue will come in 2.5% better than Snowflake's guidance. "Positive Cloud Views data supports our thesis that Snowflake is at an inflection point for improving demand trends," the analyst wrote. Sills' upgrade tracks with the Street's bullishness. Only nine analysts rate Snowcloud a hold while 41 carry a strong buy or buy rating, according to LSEG. While the stock has come under pressure in the past month, falling more than 11%, the Bozeman, Montana-based company is still higher by 46% over the past year while the S & P 500 has risen less than 15%. The stock climbed 2.5% premarket Wednesday on the heels of the BofA upgrade.
Wall Street Journal
4 hours ago
- Wall Street Journal
The Man Behind Bank of America's $13 Billion Tech Agenda
Bank of America's newly appointed Chief Technology and Information Officer Hari Gopalkrishnan said he expects to push a steady stream of AI-focused releases in the coming months. To do so, he is tapping the company's $13 billion technology budget for 2025, $4 billion of which has been set aside for developing new technologies like artificial intelligence, he said. Plans include building more job-specific AI features for employees and serving more personalized financial information to customers.
Yahoo
5 hours ago
- Yahoo
HELOC rates today, August 20, 2025: Consistently below 9%
HELOC rates today remain under 9%. A home equity line of credit has an introductory rate, with a variable interest rate that follows. Your beginning rate, offered for six months or one year, can be much lower than the variable rate quoted here. Dig deeper: Is now a good time to take out a HELOC? This embedded content is not available in your region. HELOC rates Wednesday, August 20, 2025 According to Bank of America, the largest HELOC lender in the country, today's average APR on a 10-year draw HELOC remains 8.72%. That is a variable rate that kicks in after a six-month introductory APR, which is 6.49% in most parts of the country. The lowest HELOC rate reported was 8.05%, with the maximum 9.59%. Homeowners have a sizable amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not likely to let go of their primary mortgage anytime soon, so selling the house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of the value locked into your house with a use-it-as-you-need-it HELOC can be an excellent alternative. How lenders determine HELOC interest rates HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. Lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan, so it pays to shop around. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. How a HELOC works You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. This embedded content is not available in your region. Look for introductory rates, but be aware of a rate adjustment later Today, FourLeaf Credit Union is offering a HELOC rate of 6.49% for 12 months on lines up to $500,000. That's an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. HELOC rates today: FAQs What is a good interest rate on a HELOC right now? Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. Is it a good idea to get a HELOC right now? For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. What is the monthly payment on a $50,000 home equity line of credit? If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
