Yahoo Finance’s Seana Smith highlights the stocks making moves in after-hours trading, which include Salesforce, CrowdStrike, and Five Below.
Video Transcript
DAVE BRIGGS: Seana, what’s moving after-hours?
SEANA SMITH: We’ve got three big movers of the week for you, Dave– Salesforce, Crowdstrike, and Five Below. Let’s run through them real quick. First up, let’s take a look at Salesforce, ending the week in the red. You’re looking at a drop of nearly 6%. The move to the downside coming after the company’s outlook signaled a weaker economic environment. And Salesforce also surprised the street with the exit of its co-CEO, Bret Taylor. He is leaving the company at the end of January.
Now, Taylor was thought of as a potential successor to Marc Benioff, who will now be the sole CEO of the company. Wolfe Research downgraded the stock to peer perform after more than a decade with an outperform rating. Salesforce closing the week in the red. And you can see right around $144 a share.
Another name that’s lost some momentum this week, Crowdstrike dropping just around 11 and 1/2%. The move to the downside coming after the company’s revenue forecast missed expectations. The weak outlook was due in part to customers delaying purchases. This coming amid a tough macroeconomic environment. 30 analysts cutting their price targets on the stock by an average of about 25% to lowered their ratings.
Let’s wrap it up with a big winner because we want to end on an upbeat note. Five Below soaring this week, up nearly 14%, a third quarter earnings beat, strong full year guidance, prompting analysts to raise their price targets on the stock. Jefferies calling the results, quote, “robust.” They’ve raised their price target to $200 from 175. KeyBank, Truist, Telsey Advisory also upping their price targets. So Five Below a bright spot here for retailers this quarter, Dave.
DAVE BRIGGS: Well, they sure are, Seana. Thank you.
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