4 big analyst cuts: One more downgrade at Target, several at SentinelOne

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4 big analyst cuts: One more downgrade at Target, several at SentinelOne
Credit: © Reuters

By Davit Kirakosyan

Here is your Pro Recap of the biggest analyst cuts you may have missed today: downgrades at Target, SentinelOne, Estee Lauder, and PROG.

InvestingPro subscribers got this news first. Never miss another market-moving headline.

Target downgraded to Sector Weight on increasing consumer headwinds

Target (NYSE: TGT ) shares fell around 1% premarket today after KeyBanc downgraded the company to Sector Weight from Overweight, as InvestingPro reported in real time.

The downgrade move was due to increasing consumer headwinds over the next 12-18 months, while the firm noted that it still believes in the long-term margin recovery story.

Last week, JPMorgan downgraded the company to Neutral from Overweight and cut its price target to $144.00 from $182.00, noting that US consumer is broadly weakening.

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SentinelOne receives another downgrade after the guidance cut

Stephens downgraded SentinelOne (NYSE: S ) to Equal Weight from Overweight and cut its price target to $15.00 from $22.00.

The company received several downgrades on Friday, including from BTIG, WestPark Capital, Canaccord Genuity, and DA Davidson, after the company reported its Q1 earnings and slashed its full-year guidance. Shares plunged more than 35% on Friday.

2 more downgrades

Oppenheimer downgraded Estee Lauder (NYSE: EL ) to Perform from Outperform, noting it believes the company is no longer a beat and raise story.

Loop Capital downgraded PROG (NYSE: PRG ) to Hold from Buy with a price target of $34.00.

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