Publish date:

Snap, Amazon: Latest Upgrades and Downgrades

TheStreet's weekly guide to upgrades and price target changes includes Workday, Amazon, and Snap.

Analysts were busy this week, upgrading, changing price targets, and initiating coverage of a variety of companies.

Upgrade

The human-resources-software platforms Workday  (WDAY) - Get Workday, Inc. (WDAY) Report and Paycom  (PAYC) - Get Paycom Software, Inc. Report were upgraded by Stifel analyst Brad Reback to buy from hold. The analyst raised his share-price target for Workday to $275 from $227, while boosting Paycom's target price to $365 from $250. 

Snap  (SNAP) - Get Snap, Inc. Class A Report was raised to buy from neutral and Spotify Technology  (SPOT) - Get Spotify Technology SA Report to neutral from sell by Guggenheim analyst Michael Morris. The analyst raised his price target for the stock of both companies, Snap to $28 from $22 and Spotify to $250 from $232.

Plug Power  (PLUG) - Get Plug Power Inc. Report was upgraded to overweight from equal weight by Morgan Stanley analyst Stephen Byrd with a price target of $14, up from $10.25.

Starbucks  (SBUX) - Get Starbucks Corporation Report was upgraded by Cowen analyst Andrew Charles to outperform from market perform. The analyst also raised his share-price target 29% to $99 from $77.

TheStreet Recommends

Shopify  (SHOP) - Get Shopify, Inc. Class A Report was upgraded to outperform from neutral. Wedbush analyst Ygal Arounian raised his price target on shares of the e-commerce software-and-services provider to $1,300 from $998.

Deutsche Bank analyst Amit Mehrotra lifted his rating on FedEx  (FDX) - Get FedEx Corporation Report to buy from hold, with a price target of $318 per share. 

UPS  (UPS) - Get United Parcel Service, Inc. Class B Report was upgraded to overweight from sector-weight by KeyBanc Capital Markets' Todd Fowler, with a $190 price target.

Price Target Change

Pivotal Research analyst Michael Levine raised his price target for Amazon  (AMZN) - Get Amazon.com, Inc. Report to $4,500 from $3,925. Levine kept a buy rating on the shares.

Wedbush analyst Matt Bryson raised his price target for semiconductor giant Nvidia  (NVDA) - Get NVIDIA Corporation Report to $600 from $525, but he took it off Wedbush’s Best Ideas List.

Initiate Coverage

Jefferies analyst Brent Thill initiated coverage of cloud-services company Snowflake  (SNOW) - Get SNOWFLAKE, INC. Report with a hold rating and $250 share-price target.