Moving into the weekend, here’s what we’re following:
P.S. For more stocks making moves, check out our new Zen Ratings Upgrades & Downgrades screener
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🥶 NOT: SBA Communications Corp (NASDAQ: SBAC) lost 4.9% on Wednesday and got slapped with a downgrade from Bank of America. The reduced rating from BofA is due to news that AT&T was acquiring EchoStar, a move that could cause less traffic for SBA’s communications towers. Despite SBAC’s recent positive second-quarter earnings report, we give the stock a C Zen Rating and a Hold recommendation. Our analysis gives SBAC a B rating in Safety due to its lower-than-average volatility, but a D rating in Sentiment.
🔥 HOT: Atlassian (NASDAQ: TEAM) gained 4.7% on Wednesday, making it one of the biggest tech movers on a day when the sector was largely holding its breath waiting for Nvidia’s earnings report. Atlassian has been trading in a choppy downtrend since the beginning of may, but our research still gives it A ratings in Growth and Financials. We give TEAM a B Zen Rating and a Buy recommendation due to its strategic partnership with Google Cloud platforms, which gives it a leg up on the competition when it comes to scaling AI services.
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