Snap, Home Depot, Mazor Robotics Downgraded

Snap stock is set for a post-earnings plunge, while shares of Home Depot and Mazor Robotics are also trading lower

May 11, 2017 at 9:37 AM
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Analysts are weighing in on Snapchat parent Snap Inc (NYSE:SNAP), Dow stock Home Depot Inc (NYSE:HD), and surgical robot maker Mazor Robotics Ltd - ADR (NASDAQ:MZOR). Here's a quick roundup of today's bearish brokerage notes on shares of SNAP, HD, and MZOR.

SNAP Stock Hit With Post-Earnings PT Cuts

SNAP stock has plunged 23.4% to $17.60 -- a new record low. The shares are being hit by Snap's earnings report, which showed a massive quarterly loss and slower user growth. Wall Street's been quick to weigh in, too, with Snap shares receiving a barrage of price-target cuts. Included in the bunch was one from Barclays to $18 from $24, with the brokerage firm saying the results failed to disprove the "Facebook is crushing Snapchat" argument. Conversely, both Goldman Sachs and Credit Suisse reiterated their respective "buy" ratings, with the latter calling Snap stock a "unique asset." Regardless, today's projected price move appears to be just what some SNAP options traders were hoping for, with Tuesday's put buyer set to profit handsomely on their big bearish bet.

HD Stock Downgraded at Atlantic

HD stock was downgraded to "neutral" from "overweight" at Atlantic, though the brokerage firm also boosted its price target on the shares to $168 from $164. Home Depot stock is down 0.5% to trade at $157.54, though this pullback will have little impact on the security's longer-term trajectory. Heading into today's trading, HD shares were almost 18%, and hit a record high of $158.15 yesterday. Against this backdrop, Home Depot options traders have shown an unusual preference for calls over puts among options set to expire in three months or less. The stock's Schaeffer's put/call open interest ratio (SOIR) of 0.60 ranks lower than 93% of all comparable readings taken in the past year. Separately, Home Depot earnings are due ahead of next Tuesday's open.

Overbought MZOR Stock Set to Retreat from Record High

After notching an earnings-induced record high of $44 on Wednesday, MZOR stock is trading 6.2% lower at $39.41. Weighing on Mazor Robotics shares downgrades to the equivalent of a "neutral" from both First Analysis and Wells Fargo, though the former also raised its price target by $10 to $38. Considering the shares up more than 91% in 2017 before today's session started, a near-term pullback should come as no surprise. In fact, MZOR stock's 14-day Relative Strength Index (RSI) closed at 77 last night, in overbought territory.

 

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