Monday’s Top Analyst Upgrades and Downgrades: GoDaddy, Groupon, ResMed, Salesforce, Shopify, Squarespace, Yelp and More

Monday’s futures were somewhat mixed as traders seemed to be awaiting key economic data coming out later in the week. Although the Nasdaq and S&P 500 hit all-time highs late last week, the road upward still remains tricky. What traders are perhaps most looking forward to is the June unemployment report that comes out on Friday. Even though estimates are predicting an acceleration in payrolls, recent jobless claims reports have been lackluster, hence the uncertainty.

Wall Street is concerned about tapering of the quantitative easing program, but despite a clear building of inflationary pressures, the Federal Reserve is vowing to keep interest rates contained. That could be one reason for the continued moves higher in the equity markets, even after sell-offs. Another big plus is the continued massive inflows into money markets.

With major Wall Street firms still warning of the potential for an impending 5% to 10% correction across the board, it makes sense for investors to continue building some cash reserves into the market strength while repositioning portfolios for the coming quarter and the rest of 2021.

24/7 Wall St. reviews dozens of analyst research reports each day of the week with a goal of finding new ideas for investors and traders alike. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. Consensus analyst target data is from Refinitiv.

These are the top analyst upgrades, downgrades, and initiations for Monday, June 28, 2021.

comScore, Inc. (NASDAQ: SCOR): Craig Hallum initiated coverage with a Buy rating and a $7 price target. Shares last closed at $4.54 Friday, and the consensus price target is $4.49.

Global Blood Therapeutics Inc. (NASDAQ: GBT): JPMorgan downgraded to a Neutral rating from Overweight and cut the price target to $36 from $70. The stock was last traded near $36, in a 52-week range of $34.65 to $76.27. The consensus price target is $78.20.

GoDaddy Inc. (NYSE: GDDY): Barclays resumed coverage with an Overweight rating and a $115 price target. The stock last closed near $87, in a 52-week range of $66.50 to $93.75. Analysts have a consensus price target of $101.77 for the stock.

Groupon Inc. (NASDAQ: GRPN): Barclays resumed coverage with an Underweight rating. The consensus price target is $45.10, and the stock closed Friday at around $46 per share. The 52-week trading range is $14.95 to $64.69.

International Paper Co. (NYSE: IP): Stephens upgraded to an Overweight rating from Equal Weight and raised the price target to $80 from $58. The stock closed near $61, in a 52-week range of $32.94 to $65.27.

MercadoLibre Inc. (NASDAQ: MELI): Barclays resumed coverage with an Overweight rating. The shares last closed near $1,542, and the consensus price target is $1,951.40.

Nektar Therapeutics (NASDAQ: NKTR): Stifel upgraded to a Buy rating from Hold and raised the price target to $24 from $22. The stock most recently closed at $17 and has a consensus price target of $31.10.

ResMed Inc. (NYSE: RMD): Citigroup downgraded to a Neutral rating from Buy. Shares last closed near $244 and have a consensus price target of $228.

Repare Therapeutics Inc. (NASDAQ: RPTX): Guggenheim initiated coverage with a Buy rating and a $46 price target. The stock was last trading near $33. The consensus target is $46.50. The 52-week trading range is $21.45 to $46.44.

Salesforce Inc. (NYSE: CRM): Redburn initiated coverage with a Buy rating and a $320 price target. Shares closed Friday near $242 apiece, in a 52-week range of $180.00to $284.50. The consensus price target is $278.43.

Shopify Inc. (NYSE: SHOP): Barclays resumed coverage with an Equal Weight rating and a $1,700 price target. The consensus price target is $1,493.37. The stock has a 52-week range of $839.40 to $1,552.23 and recently closed near $1,473 a share.

Squarespace Inc. (NYSE: SQSP): Wedbush initiated coverage with a Neutral rating and a $70 price target. Barclays also initiated coverage with an Equal Weight rating and a $70 price target. Shares last closed at $64, and the 52 week range is $42.82 to $64.71.

Unity Biotechnology Inc. (NASDAQ: UBX): Citigroup upgraded to a Buy rating from Sell with a $6 price target. The stock was last traded near $4.34, in a 52-week range of $2.72 to $15.44. The consensus price target is $6.86.

Wix.com Ltd. (NASDAQ: WIX): Barclays downgraded to an Equal Weight rating from Overweight and cut the price target to $280 from $290. The stock closed near $303, in a 52-week range of $213.12 to $362.07. Analysts have a consensus price target of $323.58 for the stock.

Yelp Inc. (NYSE: YELP): Barclays resumed coverage with an Underweight rating and a $30 price target. The stock closed near $41, in a 52-week range of $18.67 to $43.86.

Zillow Group, Inc. (NASDAQ: ZG): Barclays resumed coverage with an Underweight rating. The shares last closed near $119, and the consensus price target is $183.56.

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