Wednesday’s buzz on Wall Street that’s driving the market

Welcome to Extreme Investor Network, where we provide you with unique insights and expert analysis in the world of investing. Today, we dive into the latest analyst calls and Wall Street chatter to give you the edge you need to make informed investment decisions.

Goldman Sachs recently downgraded ZoomInfo Technologies, citing a difficult hiring backdrop and slower growth path. Analyst Kash Rangan highlighted the lack of visibility in current trends and lowered the price target for the software company. With a challenging spending backdrop and uncertain future catalysts, Rangan is waiting for signs of improvement before turning more positive on the stock.

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On the other hand, Reddit’s first earnings report since going public garnered mixed responses from Wall Street analysts. While the social media company reported strong quarterly results and significant digital advertising growth, some analysts expressed caution due to potential challenges ahead. JPMorgan’s Doug Anmuth boosted the target price but retained a neutral rating, awaiting more confidence in Reddit’s user trajectory.

Rivian, a prominent electric vehicle maker, faced cautious sentiments from Wall Street after its latest quarterly results. Analysts remain neutral on the stock, highlighting the competitive landscape in the EV market and questioning the company’s path to profitability. With uncertainty looming around Rivian’s ability to meet its gross profit goals, the stock faced a decline before the bell.

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In brighter news, Baird upgraded Datadog to outperform from neutral and raised the price target for the cloud software company. Despite a recent pullback in shares following the announcement of a leadership change, analyst Will Power sees this as a buying opportunity. With a leading cloud observability platform and growth potential in the cloud industry, Datadog is poised for success according to Baird.

At Extreme Investor Network, we strive to provide you with valuable insights and unique perspectives on the latest trends in the investment world. Stay tuned for more updates and expert analysis to help you navigate the complex landscape of investing with confidence.

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