Netflix gets upgraded at Baird, following Q2 earnings
Baird upgraded Netflix (NASDAQ:NFLX) to Outperform from Neutral and raised its price target to $500.00 from $340.00, based on increased confidence in the company’s execution of new initiatives such as advertising and paid sharing, as well as a stronger financial profile that is expected to improve investor sentiment over time.

Last week, reported mixed Q2 earnings, with EPS of $3.29 beating the consensus estimates, while revenues of $8.19 billion came in below expectations.

The company added 5.9 million paid net subscribers in Q2 as it successfully rolled out paid sharing to more than 100 countries, representing over 80% of its total revenue.

Shopify stock gains on upgrade
Shopify (NYSE:SHOP) shares gained more than 2% pre-market today after MoffettNathanson upgraded the company to Outperform from Market Perform with a price target of $76.00.

The upgrade is based on early signs of an enterprise inflection, including growing traction from system integrators, higher web traffic for Shopify Plus, as well as new executive hires that will help Shopify sell to the enterprise.

The company is set to report its Q2/23 earnings on Aug 2. Street estimates stand at $0.07 for EPS and $1.62B for revenues.

2 more upgrades
Lam Research (NASDAQ:LRCX) shares rose more than 1.8% pre-market today after Stifel upgraded the company to Buy from Hold and raised its price target to $725.00 from $505.00.

The company will report its Q4/23 earnings on July 26, after the market close.

Baird upgraded Q2 (NYSE:QTWO) to Outperform from Neutral and raised its price target to $39.00 from $30.00. Shares surged more than 2.4% pre-market today.