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Benzinga’s Brief on Trending Tickers: GameStop, Chewy, C3.ai and more

Petrol Gas “Daily Brief on Trending Tickers” highlights the most searched tickers from across the web and uses the Benzinga Pro platform to highlight the latest news potentially impacting those stocks.

Trend Ticker data is compiled from a list of the most discussed tickers on the popular Reddit forum WallStreetBets.

Metaplatforms Inc FB COO Sheryl Sandberg said Wednesday that she was stepping down after 14 years at the social media conglomerate. In addition, the ticker symbol of Meta will change from FB to META on June 9th.

Piper Sandler Analyst Thomas Master kept Meta at a neutral rating and lowered the price target to $220 from $230.

C3.ai Inc AI Shares fell more than 20% during Thursday’s morning session after the company reported quarterly losses of 21 cents a share, beating Street’s estimate of a loss of 29 cents and sales of $72.3 million , which surpassed estimates of $71.28 million.

Morgan Stanley kept C3.ai at an underweight and lowered the price target to $14 from $15.

Chewy Inc CHWY Shares were up more than 15% Thursday morning after the company reported quarterly revenue of $2.43 billion, beating analysts’ estimate of $2.42 billion by 0.4%. According to Chewy, the company’s active customer base grew 4.2% year over year to 20.6 million at the end of the first quarter.

Baird Analyst Justin Kleber kept Chewy with an outperform rating and lowered the price target to $45 from $60.

Affirm Holdings Inc AFRM: On Wednesday, the stock plunged 15% as investors worried about the Fed’s ongoing uncertainty. The Federal Reserve is attempting to rein in runaway inflation as it embarks on what is likely to be its most aggressive tightening cycle in more than 40 years.

GameStop Corp. GME Shares were volatile during Wednesday’s after-hours session after the company reported losses of $2.08 per share, missing analyst consensus of $1.45 and sales results of $1.38 billion, beating Street’s estimates of Surpassed $1.32 billion.

UiPath Inc AWAY Shares rose more than 10% Thursday morning after the company said first-quarter revenue rose 32% year over year to $245.1 million, beating estimates of $225.26 million surpassed. The company reported a quarterly loss of 3 cents per share, beating Street’s estimate of 5 cents per share. The company also issued new guidance that beat analysts’ estimates.

Oppenheimer Analyst Brian Schwartz kept UiPath with an Outperform rating and lowered the price target to $23 from $35.

Ciena Corporation CIEN Shares fell about 6% Thursday morning after the company reported second-quarter revenue grew 13.8% year over year to $949.2 million, missing the consensus of $950.8 million.

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