Wall St Engine
WALMART $WMT CFO ON CNBC:
“We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb... It’s more than any supplier can absorb & so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.”
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WALMART $WMT CFO ON CNBC:
“We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb... It’s more than any supplier can absorb & so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.”
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Wall St Engine
Wolfe Research Upgrades $PINS to Outperform from Peerperform, Says Product Momentum and Valuation Support Upside, Sets PT at $40
Analyst comments: "We are upgrading PINS to Outperform with a $40 price target as we see: (i) macro overhang more muted than before; (ii) sustained core fundamentals from product improvements—most notably Performance+ (a 2–3 point growth contributor); (iii) third-party opportunity; and (iv) reasonable valuation for mid-teens percentage growth.
Our Outperform rating reflects the view that the performance ads product cycle is driving better advertiser attach rates, resulting in above-market growth in the mid-teens percentage range—suggesting share gains versus the broader digital market, which is growing in the low double digits. Current valuation remains undemanding at 13.5x 2026 EBITDA, a discount to the blended peer average for SNAP/TTD at 24.5x 2026 EBITDA, despite a similar growth profile.
Year-to-date, PINS shares have outperformed, up 13%, compared to SNAP (-16%), TTD (-33%), and mega caps META (+13%) and GOOGL (-13%). We expect continued outperformance based on the relative product cycle strength and valuation disconnect versus other sub-scale peers."
Analyst: Shweta Khajuria
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Wolfe Research Upgrades $PINS to Outperform from Peerperform, Says Product Momentum and Valuation Support Upside, Sets PT at $40
Analyst comments: "We are upgrading PINS to Outperform with a $40 price target as we see: (i) macro overhang more muted than before; (ii) sustained core fundamentals from product improvements—most notably Performance+ (a 2–3 point growth contributor); (iii) third-party opportunity; and (iv) reasonable valuation for mid-teens percentage growth.
Our Outperform rating reflects the view that the performance ads product cycle is driving better advertiser attach rates, resulting in above-market growth in the mid-teens percentage range—suggesting share gains versus the broader digital market, which is growing in the low double digits. Current valuation remains undemanding at 13.5x 2026 EBITDA, a discount to the blended peer average for SNAP/TTD at 24.5x 2026 EBITDA, despite a similar growth profile.
Year-to-date, PINS shares have outperformed, up 13%, compared to SNAP (-16%), TTD (-33%), and mega caps META (+13%) and GOOGL (-13%). We expect continued outperformance based on the relative product cycle strength and valuation disconnect versus other sub-scale peers."
Analyst: Shweta Khajuria
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Wall St Engine
DA Davidson DOWNGRADES $CRWV to Underperform from Neutral, Says Business Not Worth Scaling, Maintains PT at $36
Analyst comments: "We are downgrading to Underperform from Neutral and maintain a $36 price target based on 3x CY26 revenue. Investors regretted scaling WeWork, and they may not want to scale this business. We realize shares may have limited short-term downside given the very small float and very high cost to borrow, but that may change upon the expiration of the lockup and likely need for secondaries."
Analyst: Gil Luria
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DA Davidson DOWNGRADES $CRWV to Underperform from Neutral, Says Business Not Worth Scaling, Maintains PT at $36
Analyst comments: "We are downgrading to Underperform from Neutral and maintain a $36 price target based on 3x CY26 revenue. Investors regretted scaling WeWork, and they may not want to scale this business. We realize shares may have limited short-term downside given the very small float and very high cost to borrow, but that may change upon the expiration of the lockup and likely need for secondaries."
Analyst: Gil Luria
BOFA RAISES $CRWV PT TO $76 FROM $42 - BUY
Analyst comments: "CoreWeave delivered a solid first quarter as a public company, with 16% revenue upside to our model driven by better return on net assets. The return of 10.3% well exceeded our estimate of 8.6%. Some of the upside came from capital expenditure timing, which pushed into Q2 and lowered the denominator. However, strength was also supported by better consumption.
Q1 was an impressive quarter for contract signings, including a new $11.9 billion deal with OpenAI and a $4 billion expansion with a large AI enterprise. These results validate that CoreWeave is well positioned to capitalize on the rapidly growing AI infrastructure market as a best-in-class data center provider. While the business remains capital-intensive, expanding return on net assets points to a widening spread over cost of capital.
We reiterate our Buy rating and raise our price objective from $42 to $76 to reflect revenue upside. Our new target is based on a forward 16x CY27e EBIT valuation (up from 13x prior), a premium to the cloud datacenter group at 15x given CoreWeave’s long runway of EBIT growth."
Analyst: Brad Sills tweet
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Wall St Engine
Coinbase offers $20M bounty after attackers stole data from <1% of users by bribing overseas support agents, then demanded $20m in btc. no passwords or funds were exposed. coinbase refused to pay, involved law enforcement, & will reimburse affected users
https://t.co/skdldqgvca
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Coinbase offers $20M bounty after attackers stole data from <1% of users by bribing overseas support agents, then demanded $20m in btc. no passwords or funds were exposed. coinbase refused to pay, involved law enforcement, & will reimburse affected users
https://t.co/skdldqgvca
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Wall St Engine
Walmart is prepping for a future where AI agents shop for us. The company’s building its own in-app bots while also planning for third-party agents like OpenAI’s Operator. $WMT is rethinking how it lists, prices, and advertises products—not just for people, but for algorithms. “Advertising will have to evolve,” says Walmart’s U.S. CTO.
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Walmart is prepping for a future where AI agents shop for us. The company’s building its own in-app bots while also planning for third-party agents like OpenAI’s Operator. $WMT is rethinking how it lists, prices, and advertises products—not just for people, but for algorithms. “Advertising will have to evolve,” says Walmart’s U.S. CTO.
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Wall St Engine
JPMorgan CEO Dimon:
“There’s good volatility & bad volatility. I’d expect continued volatility. So far, this one’s been the good kind, but I wouldn’t count on it being the same next time. More volatility’s actually a plus for traders—it means wider spreads & more trading volume” https://t.co/tl74SUmZMy
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JPMorgan CEO Dimon:
“There’s good volatility & bad volatility. I’d expect continued volatility. So far, this one’s been the good kind, but I wouldn’t count on it being the same next time. More volatility’s actually a plus for traders—it means wider spreads & more trading volume” https://t.co/tl74SUmZMy
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Wall St Engine
U.S. Philly Fed Business Conditions just hit their second-best level in the past four years. https://t.co/Grme23F6Og
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U.S. Philly Fed Business Conditions just hit their second-best level in the past four years. https://t.co/Grme23F6Og
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