WiseRadar, Stocks In Our Radar Today March 23, 2023

WiseRadar: March 23, 2023.

Kingsoft Cloud Holdings Limited ($KC)

Kingsoft Cloud Holdings Limited (KC) is a Chinese cloud computing and artificial intelligence company. It has seen strong intraday gains of 8.3% today due to positive news about its new cloud service and AI products. The company is expected to benefit from the increasing demand for cloud services in China.

Agora, Inc. ($API)

Agora, Inc. is a technology company that provides real-time communication services and cloud-based software. It is trading lower by around 22% on Tuesday due to its Q4 earnings report, which showed a decline in revenue and an increase in operating expenses. The company’s stock is down over 50% year-to-date.

Dada Nexus Limited ($DADA)

Dada Nexus Limited (DADA) reported its Q4 2022 revenue of RMB 2.68 billion, a year-over-year increase of 39.6%. The company’s gross merchandise volume (GMV) grew by 45.6% year-over-year to RMB 3.51 billion, while its average monthly active users (MAUs) increased by 34.7% year-over-year to 48.9 million. DADA also reported a net income of RMB 211.2 million, a year-over-year increase of 1,052.2%.

Western Alliance Bancorporation ($WAL)

Western Alliance Bancorporation (WAL) reported strong earnings, with a 24% increase in net income year-over-year. The company also saw an increase in loans and deposits, and its net interest margin improved. The company’s strong performance is indicative of the positive economic outlook in the US.

BellRing Brands, Inc. ($BRBR)

Truist Securities has upgraded BellRing Brands, Inc. (BRBR) to a “Buy” rating and raised its price target to $40. The company is benefiting from increased demand for its products, including its newly acquired business. The company is also expected to benefit from its strategic initiatives, such as cost savings and product innovation.

AMC Networks Inc. ($AMCX)

AMC Networks Inc. (AMCX) has recently sealed a deal with Sentai Filmworks, Mainichi Broadcasting System, and HIDIVE to bring anime content to the streaming service. This partnership will bring more content to HIDIVE, allowing for a wider variety of genres and titles for subscribers. The deal is expected to increase viewership and engagement for the streaming service.

Tiptree Inc. ($TIPT)

Tiptree Inc. (TIPT) reported fourth quarter earnings of $0.02 per share, up from $0.01 per share year-over-year. Sales were $369.53 million, up from $319.53 million year-over-year. The company’s performance was driven by strong growth in its insurance and investment businesses. Overall, Tiptree Inc. had a successful fourth quarter.

AvePoint, Inc. ($AVPT)

AvePoint, Inc. (AVPT) saw its stock rise by 6.1% in Friday’s intraday session. The company provides cloud-based software solutions to manage and protect data in hybrid IT environments. AvePoint’s solutions enable customers to migrate, manage, and protect their Office 365 and SharePoint data. Its stock has seen a consistent rise since the start of 2021.

Driven Brands Holdings Inc. ($DRVN)

Stifel has maintained a “Buy” rating on Driven Brands Holdings Inc. (DRVN) and lowered their price target to $40. They believe the company’s long-term growth potential is strong and that their acquisition strategy will continue to drive revenue. Stifel expects DRVN to benefit from their strong portfolio of automotive services, as well as their focus on cost-cutting and efficiency.