— The electric vehicle maker declined more than 3%, despite Loop Capital initiating coverage on the stock with a buy rating. "Nikola possesses intellectual property that is attractive to a number of partners, and ... its vehicles will begin to hit the road with these partners over the next two years," the firm said. Loop Capital's $35 target represents a 33% upside from Thursday's closing price.
"While we have seen some recent stability in the underlying environment, headwinds due to COVID remain, particularly to net new bookings," Workday president and chief financial officer Robynne Sisco said on an earnings call Thursday. The company did report stronger-than-expected quarterly earnings and revenue, however.— Shares of the restaurant chain slid more than 3% after Wedbush downgraded the stock to a neutral rating.
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