Hot or Not: Stock Market Edition [11/12/2024]

TSLA’s big run continues — here’s the scoop, plus more hot + not movers in the market today:

🔥 HOT: Tesla (NASDAQ: TSLA) surged 9.1% on Monday, pushing the electric vehicle maker’s market cap above $1.1 trillion and sending shares to their highest level since April 2022. The rally came after Wedbush analysts raised their price target on Tesla to $400 from $300, citing Donald Trump’s election victory as a potential “game-changer” for Tesla’s autonomous driving and AI initiatives. The analysts believe these key technologies could add $1 trillion to Tesla’s valuation, as regulatory hurdles are expected to ease under the Trump administration.

🥶 NOT: Sapiens International Corporation (NASDAQ: SPNS) lost 26.2% on Monday after an unexpectedly poor earnings report. The company missed both its EPS and revenue targets and lowered its full-year revenue guidance to between $541 and $546 million from its previous estimate of between $550 and $555 million. The stock was previously up as much as 40% but is now at a YTD return of just 1.3%.

🔥 HOT: Shares of Bristol-Myers Squibb (NYSE: BMY) rose by 10.5% on Monday after its rival AbbVie reported disappointing results from recent tests of its latest drug to treat schizophrenia. This news came at the perfect time for BMY, as the company just received FDA approval for its own schizophrenia drug, Cobenfy. BMY has been in a strong recovery since early July and is now up 16.3% YTD.

🥶 NOT: Monday.com (NASDAQ: MNDY) lost 15.1% on Monday despite beating its earnings projections for the third quarter by 34.6%. The market was spooked by the company’s declining enterprise customer growth, which fell even as the company’s revenue rose year-over-year. Shareholders were also unhappy to hear that the company’s Chief Revenue Officer, Yoni Osherov, announced that he was leaving the company at the end of the year. Monday’s strong growth earlier this year leaves it up 49.7% YTD, even after Monday’s loss.

📈 Want more? Check out the biggest winners and biggest losers on WSZ. 

Strong Buys: Top Picks from Top Wall Street Analysts 

With WallStreetZen's Top Analysts, you get high-conviction stock ratings from the best stock analysts in the world. It’s a premium feature on our site, but we’ve unlocked a FREE sampling below: 

Datadog Inc. (NASDAQ: DDOG)  

Analyst/Firm: Raimo Lenschow / Barclays

Analyst ranking: Top 2% / average return +9.68% / win rate 58% 

Yesterday’s market close: $122.36

Price target: $155.00 

• Barclays's Raimo Lenschow raised their price target on Datadog (NASDAQ: DDOG) by 10.7% from $140 to $155 on 11/8. The analyst maintained their Strong Buy rating on the stock.
• Datadog reported its Q3 2024 earnings.
• Lenschow noted that although Datadog's growth remains best-in-class in the current environment, the growth rate has not changed "for a few quarters now."

1-year chart for DDOG, courtesy TradingView 

 Ralph Lauren Corp. (NYSE: RL) 

Analyst/Firm: Jay Sole / UBS

Analyst ranking:  Top 5% / average return +15.22 / win rate 61% 

Yesterday’s market close: $213.87 

Price target: $300.00 

• UBS's Jay Sole raised their price target on Ralph Lauren (NYSE: RL) by 4.5% from $287 to $300 on 11/8. The analyst maintained their Strong Buy rating on the stock.
• Ralph Lauren reported its Q2 2025 earnings.
• Sole described the print as "very solid."
• The analyst predicted that the stock would do well in the near future because of earnings surprises delivering multiple expansion and boosting revisions to sell-side estimates. 
• In addition, Sole believes Ralph Lauren's "revolutionary shifts in brand perception, distribution strategy, and cost structure will now be more fully appreciated by the market as a result of the sequence of earnings beats.

1-year chart for RL, courtesy TradingView 

Five9 (NASDAQ: FIVN) 

Analyst/Firm: Catharine Trebnick / Rosenblatt

Analyst ranking: Top 7% / average return +12.67% / win rate 58% 

Yesterday’s market close: $39.67

Price target: $50.00 

• Rosenblatt's Catharine Trebnick raised their price target on Five9 (NASDAQ: FIVN) by 11.1% from $45 to $50 on 11/9. The analyst maintained their Strong Buy rating on the stock.
• Five9 reported its Q3 2024 earnings.
• Trebnick told readers that the quarter's "impressive" results beat consensus on 15% revenue growth driven by Five9's accelerating momentum in AI-powered customer experience solutions.

1-year chart for FIVN, courtesy TradingView 

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