Stocks In News: CROX, GTLB, NVAX
1:45 pm Tuesday, July 05th, 2022
Manufacturing its iconic brand of plastic clogs, Crocs (NASDAQ:CROX) shares are up over 9% heading into the early afternoon session. Loop Capital upgraded CROX stock to “buy” from “hold.” Should the forecast prove accurate, the footwear specialist could be one of the winners of 2022. Interestingly, Loop Capital has maintained its $75 price target. Based on today’s opening price of $48.10, fulfilling the forecast would yield a 56% return. Further, the investment research firm cited “encouraging checks” that suggest market sentiment has become overly negative. Seemingly, according to this thesis, investors are ignoring the potential involved with Crocs’ acquisition of casual footwear brand Hey Dude.
Software developer GitLab (NASDAQ:GTLB) is clearly in favor on Wall Street. GTLB stock is up 8% so far today. Apparently, investors are excited about an announcement concerning the company’s fiscal 2023 earnings guidance. It hasn’t been easy for GTLB stock investors to stay the course, but the past month has provided some encouragement. Back in early June, GitLab disclosed outstanding revenue results for the first quarter of fiscal 2023. The company generated $87.4 million in quarterly revenue, up 75% year-over-year (YOY).
Novavax (NASDAQ:NVAX) stock is taking off on Tuesday after the vaccine company got approval for the expanded use of its Covid-19 vaccine in Europe. This has the European Commission (EC) approving expanded conditional marketing authorization of Nuvaxovid for the European Union. That allows the vaccine to be administrated to children ranging from 12 years to 17 years of age.
