Latest news with #BTIG
Arabian Post
3 days ago
- Business
- Arabian Post
Strategy Unveils $250M ‘Stride' Offering to Bolster Bitcoin Holdings
Strategy, the enterprise software firm turned cryptocurrency powerhouse, has announced plans to issue 2.5 million shares of its newly minted 10% Series A Perpetual Stride Preferred Stock , aiming to raise $250 million to expand its Bitcoin reserves. The offering, priced at $100 per share, underscores the company's unwavering commitment to Bitcoin as a central asset in its corporate treasury. The proceeds from this offering are earmarked for general corporate purposes, prominently including the acquisition of additional Bitcoin and bolstering working capital. This move aligns with Strategy's aggressive investment approach under the leadership of Chairman Michael Saylor, who has been a vocal proponent of Bitcoin's potential as a long-term store of value. The STRD shares are designed to offer non-cumulative cash dividends at an annual rate of 10%, payable quarterly, contingent upon declaration by the company's board. Notably, if dividends are not declared in a given period, they will not accumulate, and the company is not obligated to compensate for missed payments in the future. This structure provides Strategy with financial flexibility while offering investors a potentially attractive yield. ADVERTISEMENT Strategy's latest offering follows a series of similar financial maneuvers aimed at increasing its Bitcoin holdings. The company has previously issued other classes of preferred stock, including 'Strife' and 'Strike', as part of a broader strategy to leverage financial instruments for cryptocurrency acquisition. These initiatives have collectively contributed to Strategy amassing over 580,000 Bitcoins, valued at approximately $40.61 billion, solidifying its position as the largest corporate holder of Bitcoin. The company's stock performance has been closely tied to Bitcoin's price movements, reflecting the market's perception of Strategy as a proxy for Bitcoin investment. Over the past year, Strategy's shares have experienced significant volatility, mirroring the fluctuations in the cryptocurrency market. Despite this, the company's bold investment strategy has garnered attention from both institutional and retail investors seeking exposure to Bitcoin through traditional financial instruments. While Strategy's approach has been lauded by some for its innovation and alignment with emerging financial trends, it has also faced scrutiny and legal challenges. The company is currently contesting a class-action lawsuit alleging misleading statements regarding its Bitcoin investment strategy. Nevertheless, analysts from firms such as BTIG and TD Cowen have maintained positive outlooks on Strategy, citing the company's strategic positioning and potential for long-term growth. The introduction of the STRD shares represents Strategy's continued efforts to integrate cryptocurrency into its corporate structure and financial operations. By offering a preferred stock with a substantial dividend yield, the company aims to attract investors interested in both fixed-income returns and exposure to the cryptocurrency market. This move further blurs the lines between traditional finance and digital assets, highlighting the evolving landscape of corporate investment strategies.
Yahoo
3 days ago
- Business
- Yahoo
BTIG upgrades Doximity saying pullback on macro fears overdone
-- BTIG upgraded Doximity Inc (NYSE:DOCS) to Buy from Neutral and set a price target of $80, saying recent macro concerns are overstated and demand for the company's digital pharma sales tools remains strong. Doximity shares have fallen from a recent high of $83 to around $52, pressured by fears of drug pricing reform, potential U.S.-China trade tensions, and broader macro uncertainty. But BTIG said the company's fundamentals remain intact and its guidance for fiscal 2026 is likely conservative. 'Our view is that many of the concerns driving the recent pullback are overdone,' analysts wrote. DOCS has beaten consensus revenue and EBITDA in 16 of the past 16 quarters, and tends to guide conservatively. The firm pointed to Doximity's trailing 12-month net revenue retention rate of 119%, including 123% among its top 20 clients, as a sign of strong customer engagement. It also cited a 92% gross margin, EBITDA margin of 55%, and a debt-free balance sheet with $900 million in cash. BTIG expects demand for targeted pharma sales technology to remain strong despite pressure on research-related services. The firm said recent results from peer Veeva showed the highest commercial revenue growth in three years, reinforcing the trend. Doximity's self-service portal, which allows clients to directly manage campaign spending, was also highlighted as proof of high return on investment. Valuation-wise, DOCS trades at 21.7x estimated 2027 EBITDA, slightly above the peer average. BTIG's $80 target implies 35x, which it said is justified by strong margins and high visibility in revenue. 'The company is well -positioned to benefit from the bio -pharma recovery, and we expect demand for digital advertising solutions to pick back up,' BTIG added. Related articles BTIG upgrades Doximity saying pullback on macro fears overdone RBC upgrades Osisko to Outperform as Cariboo project advances Closed Newark runway reopens ahead of schedule after renovations
Yahoo
4 days ago
- Business
- Yahoo
Boeing upgraded, PayPal initiated: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The 5 Upgrades: BofA upgraded Boeing (BA) to Buy from Neutral with a "Street high" price target of $260, up from $185, with Boeing aircraft having emerged as the favored trade tool for the Trump Administration in recent trade deals. The firm views those recent deals struck in the U.K., Qatar, UAE and China as setting a precedent for future global trade negotiations, to Boeing's benefit. BTIG upgraded Doximity (DOCS) to Buy from Neutral with an $80 price target. Although there is macro uncertainty with respect to the biopharma industry, including the risk of tariffs, ongoing drug pricing reform, the Inflation Reduction Act, and Medicare rate pressures, demand for high-quality, precise, software-as-a-service commercialization efforts will continue to rise, the firm tells investors in a research note. The firm believes Doximity's recent fiscal 2026 guidance is likely conservative and RBC Capital upgraded Church & Dwight (CHD) to Outperform from Sector Perform with a price target of $114, up from $100. After spending time with management, RBC has renewed confidence that the current guidance adequately reflects the challenges of the current environment. Goldman Sachs upgraded Saia (SAIA) to Buy from Neutral with a price target of $410, up from $387. While fundamental risks remain, largely around tariffs and possible impacts to consumer demand and global freight flows, it best to increase exposure on the "early side" to transportation names likely to benefit from the next earnings upgrade cycle, the firm tells investors in a research note. Goldman Sachs also upgraded Old Dominion (ODFL) to Buy from Neutral with a price target of $200, up from $190. BMO Capital upgraded Nucor (NUE) to Outperform from Market Perform with a price target of $145, up from $140. Nucor is executing on a multi-year organic growth plan that should over time support higher through-cycle profitability and free cash flow, the firm tells investors in a research note. Top 5 Downgrades: Bernstein downgraded Charter (CHTR) to Market Perform from Outperform with a price target of $410, up from $385. The firm says recent concerns around a potential EBITDA decline in 2025 appear to have subsided, helping push the stock to fair value. Barclays downgraded Centene (CNC) to Equal Weight from Overweight with a price target of $65, down from $84. Following Q1 earnings and "several negative data points" around Part D mix, Affordable Care Act trend, and preliminary 2026 ACA rates, the firm is more concerned on the Medicare Part D and individual ACA businesses, which it believes carry negative earnings risk for the balance of 2025 and face significant premium increases and disruption in 2026. BTIG downgraded Shake Shack (SHAK) to Neutral from Buy following a breach of the firm's now-removed $125 price target. While the firm continues to believe that the company has plenty of margin expansion opportunities, it is less confident that guest frequency will accelerate in the current environment. Goldman Sachs downgraded Union Pacific (UNP) to Neutral from Buy with an unchanged price target of $263. The firm shifted its investment recommendations to favor the trucking sector and now has a more neutral view on the rail sector and rail-adjacent sector. Goldman also downgraded Norfolk Southern (NSC), Canadian Pacific Kansas City (CP), J.B. Hunt (JBHT) and CSX (CSX) to Neutral from Buy. Raymond James downgraded Rackspace Technology (RXT) to Market Perform from Outperform without a price target. Rackspace performed in line to ahead of Q1 estimates with strong bookings and issued positive Q2 guidance as the "ship continues turning," but the path to improved growth and free cash flow is longer than anticipated, the firm tells investors in a research note. Top 5 Initiations: Truist initiated coverage of PayPal (PYPL) with a Sell rating and $68 price target. The firm models the company's gross profit growth below the Street due mainly to competitive pressure in its branded checkout business from Apple Pay (APPL) and Shop Pay as well as a lower level of float income as interest rates decline. Truist initiated coverage of Block (XYZ) with a Sell rating and $60 price target. The firm likes Block as a company long-term, but believes this is a "really difficult stock to own late cycle" as its two business segments are sensitive to the macro environment. Truist initiated coverage of MasterCard (MA) and Visa (V) with Buy ratings and price targets of $640 and $400, respectively. Investors should own both Mastercard and Visa, as the firm believes fears over disintermediation risks from real-time payments and stablecoins and a slowdown in their cross border revenues are "overblown." Truist initiated coverage of Global Payments (GPN) with a Hold rating and $79 price target. While shares screen as cheap and management is working through streamlining and simplifying the business, Truist says "it is difficult" to model better than 4%-5% organic revenue growth. Oppenheimer initiated coverage of Western Union (WU) with a Perform rating. The firm says that while Western Union is making progress defending its market share through increased investments in digital capabilities, strategic pricing, and partnerships with fintechs and the card networks, Oppenheimer remains on the sidelines until it sees clearer evidence of a sustained revenue growth turnaround. Sign in to access your portfolio
CNBC
4 days ago
- Business
- CNBC
This software stock can gain more than 50% after being held back by macroeconomic concerns, says BTIG
Strong software demand from medical professionals can help Doximity forge a strong path ahead despite any macroeconomic concerns, according to BTIG. The investment bank upgraded the San Francisco-based company to buy from neutral on Monday, giving the stock a 12-month price target of $80, implying nearly 54% upside from Friday's $52.09 close. Despite broader macroeconomic headwinds lingering over the biopharmaceutical sector, analyst David Larsen says demand for the Doximity's software will remain strong. "Our view is that although there is macro uncertainty with respect to the bio-pharma industry, including the risk of tariffs, ongoing drug pricing reform, the Inflation Reduction Act (IRA) and Medicare Rate pressures, we believe that demand for high-quality, precise, [software as a service] commercialization efforts will continue to rise," Larsen said. DOCS YTD mountain Doximity stock in 2025. The analyst also said the market may be overstating macroeconomic concerns, especially those tied to President Donald Trump's tariffs. "While shares of DOCS have pulled back from ~$83 to ~$52 on F2026 guidance and worries around tariffs, drug pricing reform and macro headwinds, our view is that many of these concerns are overdone. We believe that the most-favored-nation order will not be broadly implemented," the analyst said. He also pointed to stronger-than-expected fourth-quarter results in May, a strong balance sheet and innovations like Doximity's self-service portal, as examples of how the company is well positioned to ride out any headwinds ahead. Shares have slipped more than 2% so far in 2025, but have soared 88% over the past year.
Business Insider
30-05-2025
- Business
- Business Insider
Two Harbors (TWO) Gets a Hold from BTIG
In a report released today, from BTIG maintained a Hold rating on Two Harbors (TWO – Research Report). The company's shares closed today at $11.12. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Two Harbors with a $12.95 average price target, implying a 16.46% upside from current levels. In a report released on May 27, RBC Capital also maintained a Hold rating on the stock with a $12.00 price target. The company has a one-year high of $14.28 and a one-year low of $10.16. Currently, Two Harbors has an average volume of 1.62M.
