The S&P 500 (SP500) closed in the red on Friday after the week saw a cooler than expected jobs report and earnings reports from companies including Broadcom and DocuSign.
For the week, Nasdaq (COMP:IND) gained 2%, while Dow (DJI) rose 0.7%.
Wall Street had a slew of upgrades and downgrades from analysts. Here are some of the major calls for the week:
Analysts positive on Samsara after Q2 results
Craig-Hallum upgraded Samsara (NYSE:IOT) to Buy from Hold and raised the price target on the shares to $48 from $42 after fiscal second quarter results and guidance exceeded expectations.
Analysts led by Anthony Stoss said they upgraded the shares as the tariff pause is now behind them and the international business is now growing faster than the U.S. The analysts continue to believe Samsara’s management is navigating the business well.
Evercore also kept its In Line rating with a $45 price target on Samsara’s stock, with analysts led by Kirk Materne saying Samsara delivered a stellar quarter, outpacing Evercore/Street estimates across the board, with total revenue of $392M (+31% year-over-year in constant currency) coming in nicely above guidance.
Wells Fargo maintained its Overweight rating and $50 price target on the shares.
Fortinet downgraded as firewall refresh disappoints
Fortinet (NASDAQ:FTNT) was downgraded to Underweight from Equal-weight by Morgan Stanley due in part to a disappointing firewall refresh.
Morgan Stanley also reduced its PT on the stock to $67 from $78.
“We see FTNT as continuing to be successful with attaching additional products into their installed base, but with the firewall refresh turning out to be smaller than expected, we think FY26/FY27 estimates may need to come down, creating a headwind for the stock,” said analysts, led by Meta Marshall.
SailPoint upgraded by MS on identity market strength
Morgan Stanley upgraded SailPoint (NASDAQ:SAIL) to Overweight from Equal-Weight, citing its strength in the identity market.
“SailPoint is a category leader commanding 20%+ market share in the IGA market with a 28% ARR CAGR (from FY23-FY26) primarily supported by the company’s ongoing SaaS transition, multi-billion dollar legacy replacement opportunity, and strong upsell/cross-sell motion driving attractive net retention rates,” said Morgan Stanley analyst Meta Marshall and put a PT of $25 on the stock.
Barclays cut its recommendation on office REIT Kilroy Realty (NYSE:KRC) to Equal Weight from Overweight, citing that this could be a “sell the news” moment. “Shares have materially outperformed over the past 6 months, reflecting strengthening leasing momentum in SF (San Francisco) and progress attracting tenants to KOP2 (life science campus in South SF). However, no leases at KOP2 have been announced yet,” said analyst Brendan Lynch and maintained PT at $43.
Rosenblatt began coverage on Twilio (NYSE:TWLO) with a Buy rating and a PT of $140 on the stock. Analysts led by Catharine Trebnick said they believe the company sits at a key inflection point where years of investment in market leadership are now set to translate into a durable model of profitable growth and significant free cash flow generation.
Mobileye (NASDAQ:MBLY) was in focus as Deutsche Bank added the Advanced Driver Assistance Systems company to its Catalyst Call Buy List, ahead of IAA Munich next week, where the company will be conducting demo drives of production vehicles equipped with the EyeQ6 High based SuperVision system.