Microsoft, PayPal downgraded: Wall Street's top analyst calls

The Fly

Thu, Apr 17, 2025, 6:35 AM 4 min read

Redburn Atlantic upgraded MongoDB (MDB) to Neutral from Sell with a price target of $170, down from $180. The firm sees no further downside in the shares, with MongoDB's valuation multiple trading near all-time lows, and earnings expectations already reset.
Scotiabank upgraded Intuit (INTU) to Outperform from Sector Perform with a price target of $700, up from $600. While the IRS Direct File program shutting down looks increasingly likely, Intuit has been heads down on disrupting the $35B assisted tax market through local search, timely marketing, and AI-powered Full Service delivering a superior customer experience, which the firm sees translating to 8%-plus Consumer revenue growth in FY25, the firm tells investors.
Loop Capital upgraded Warby Parker (WRBY) to Buy from Hold with an unchanged price target of $27. The 41% selloff in the shares year-to-date is "well overdone" and provides a "long-awaited attractive entry point," the firm tells investors in a research note.
KeyBanc upgraded Yeti (YETI) to Sector Weight from Underweight without a price target. The firm reduced estimates but upgraded the shares citing Yeti's improved relative valuation.
Redburn Atlantic upgraded Nasdaq (NDAQ) to Buy from Neutral with a price target of $91, down from $93. The market "tumult" and concerns of a technology stock selloff have created an opportunity for investors to gain access to Nasdaq's longer-term structural growth opportunities at a more compelling valuation, the firm tells investors in a research note.

Top 5 Downgrades:

KeyBanc downgraded Microsoft (MSFT) to Sector Weight from Overweight without a price target. The firm's Microsoft-specific reseller survey results were "soft" with the company's strategic importance dropping 4 points quarter-over-quarter, while its conversations have been largely mixed with increased focus around artificial intelligence monetization and capex flexibility.
Seaport Research downgraded PayPal (PYPL) to Sell from Neutral with a $49 price target. The firm thinks it is going to be a struggle for the company to meet the medium-term guidance it provided at its investor day - particularly, accelerating to 8%-10% growth in Checkout TPV - if discretionary spend starts to slow as the firm expects.
KeyBanc downgraded Teradyne (TER) to Sector Weight from Overweight without a price target. The firm says that given the "numerous swings" in trade policy in recent weeks and the "unpredictable potential impact" on end market demand, it is shifting its focus toward semiconductor capital equipment names "with more direct catalysts and better visibility."
Citi downgraded Enphase Energy (ENPH) to Sell from Neutral with a $47 price target. While near-term Street estimates have aligned with Citi's outlook, Enphase has a lack of clear catalysts for meaningful growth this year or next, the firm tells investors in a research note.
Redburn Atlantic downgraded Fiserv (FI) to Sell from Neutral with a price target of $150, down from $220. The firm has concerns that a cyclical slowdown will unveil structural challenges around the durability of the company's growth.