(This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A closely watched electric vehicle maker and a cloud software company were among the talked stocks by analysts on Tuesday. Analysts gave their thoughts on Rivian’s latest quarterly results, with noting there’s still uncertainty looming around the company. Meanwhile, Baird upgraded Datadog to outperform after a sell-off in the previous session. Check out the latest calls and chatter below. All times ET. 6:37 a.m.: Goldman Sachs downgrades ZoomInfo Technologies, cites difficult hiring backdrop Goldman Sachs is bailing on shares of ZoomInfo Technologies as the company grapples with a softer rebound in tech hiring and a slower path to growth. “We move to Sell given the increased lack of visibility around an inflection in the aforementioned trends,” said analyst Kash Rangan. Shares of the software company shed nearly 23% before the bell on the back of its quarterly print. ZoomInfo beat top-and-bottom line expectations but offered weaker-than-expected guidance for the current quarter. Rangan is waiting for signs of a recovering hiring backdrop and improving execution to turn more constructive on shares. He lowered his price target to $12, implying 25% downside from Tuesday’s close. “Amid a challenged spending backdrop, softer macro signals and after working through two large renewal quarters in 4Q/1Q, the lack of upcoming catalysts that can support revenue re-acceleration leads us to expect a more gradual top-line re-acceleration story,” Rangan wrote. – Samantha Subin 6:19 a.m.: Wall Street reacts to Reddit’s first earnings print as a public company Reddit’s first earnings report since hitting the public markets in March is garnering some mixed responses from Wall Street analysts. The social media stock jumped more than 14% in the premarket after the company reported stronger-than-expected quarterly results and showed significant digital advertising growth. The company also reported 82.7 million daily active users, surpassing estimates. RDDT 1D mountain RDDT pops Bernstein analyst Mark Shmulik called the print a “solid start” but retained his underperform rating, anticipating some difficult comparisons following the second quarter. “Reddit appears to be reaping the benefits of a strong digital ad market, buoyed by some ‘free’ IPO-marketing, alongside increased traffic courtesy of their new favorite AI partner Google,” he wrote. “Now, can they keep the good times rolling?” JPMorgan’s Doug Anmuth boosted his target to $57 from $47 a share, reflecting, but retained his neutral rating as he awaits “greater confidence” in the company’s daily active user trajectory over the long run. “Strong quarter out of the gate as product momentum & ad market recovery drive upside,” he wrote, saying that shares look fairly valued at 7 times 2025 revenues. Bank of America’s Justin Post also highlighted the company’s…
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