In this article, we will take a look at the 10 stocks in limelight after releasing their earnings reports. You can skip our detailed analysis of these companies, and go directly to the 5 Stocks in Limelight After Releasing Their Earnings Reports.
Notable stocks from the technology sector, including Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP) and SentinelOne, Inc. (NYSE: S), recently announced their financial results for the second quarter.
In addition, consumer cyclical stocks such as GameStop Corp. (NYSE: GME) and Lululemon Athletica Inc. (NASDAQ: LULU) were also among the notable companies that released their earnings.
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Most of these stocks made big moves after posting their financial results. We will discuss the detailed performance of these companies in the remaining article. So, without wasting any time, let’s start our list of 10 stocks in limelight after releasing their earnings reports.
10 Stocks in Limelight After Releasing Their Earnings Reports
10. GameStop Corp. (NYSE: GME)
Number of Hedge Fund Holders: 18
GameStop Corp. (NYSE: GME), formerly called Babbage’s, started operating as a small software retailer back in 1984. Barnes & Noble acquired Babbage’s in the late 90s. Later, it merged with video game retailer Funco, which was renamed GameStop in 2000. GameStop went public in 2002 after pricing its shares at $18 apiece. Today, it is a dominant player in the video game and consumer electronics space.
Shares of GameStop Corp. (NYSE: GME) fell nearly 9 percent in the after-hours trading session Wednesday, 8 September 2021, after the video gaming retailer announced mixed financial results for the second quarter.
GameStop Corp. (NYSE: GME) reported an adjusted loss of 76 cents per share, less than the loss of $1.42 per share in the comparable period of 2020. Revenue surged 26 percent on a year-over-year basis to $1.18 billion. Analysts, on average, were looking for a loss of 67 cents per share on $1.12 billion in revenues.
Like GameStop Corp. (NYSE: GME), analysts are also paying attention to Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) after they released their financial results.
9. Campbell Soup Company (NYSE: CPB)
Number of Hedge Fund Holders: 27
Campbell Soup Company (NYSE: CPB) is a leader in the processed foods and snacks market. It recently announced better-than-expected profit and sales for its fiscal fourth quarter. The processed food and snack company reported adjusted earnings of 55 cents per share, down from 63 cents per share in the year-ago quarter.
Analysts, on average, were expecting Campbell Soup Company (NYSE: CPB) to post earnings of 47 cents per share. Revenue for the quarter fell 11 percent on a year-over-year basis to $1.873 billion but surpassed the consensus forecast of $1.809 billion.
CEO Mark Clouse called the performance “a positive finish to a solid year.” Clouse added:
“Our growth in adjusted EPS during fiscal 2021 on comparable organic sales, coupled with our expanded share growth across the majority of our core categories, demonstrated strong performance especially when compared to the significant growth in the prior year. As we head into fiscal 2022, we have robust in-market momentum on our brands, strong plans to manage inflation, and a talented and committed team to lead through what we expect to be a very challenging environment.”
Campbell Soup Company (NYSE: CPB) also released the earnings outlook for its fiscal 2022. It expects adjusted earnings in the range of $2.75 per share to $2.85 per share, almost in line with the consensus forecast of $2.83 per share.
Like Campbell Soup Company (NYSE: CPB), Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S) and Lululemon Athletica Inc. (NASDAQ: LULU) are also in the limelight after releasing their earnings reports.
8. PagerDuty, Inc. (NYSE: PD)
Number of Hedge Fund Holders: 26
Shares of PagerDuty, Inc. (NYSE: PD) rose to their 6-months high after beating expectations for the second quarter. The cloud computing company reported an adjusted loss of 13 cents per share for the quarter, compared to a loss of 4 cents per share in the same period last year.
Revenue came in at $67.5 million, up 33.2 percent from the year-ago quarter. Analysts, on average, were expecting PagerDuty, Inc. (NYSE: PD) to report a loss of 13 cents per share on sales of $65.6 million.
Speaking on the results, CEO Jennifer Tejada said in a statement:
“Our solid topline beat was driven by accelerating demand for both our new Automation offering and our comprehensive Digital Operations plan, especially in the enterprise and mid-market segments. Nearly 18,000 companies now run on our platform and as the world’s greatest enterprises transform into digital leaders, PagerDuty is becoming the Operations Cloud for the modern enterprise.”
Looking forward, PagerDuty, Inc. (NYSE: PD) expects adjusted loss in the range of 39 cents per share to 35 cents per share for its fiscal 2022, compared to the loss of 39 cents per share estimated by analysts. Revenue for the full year is expected to come between $273.0 million and $276.0 million, above the consensus forecast of $270.4 million.
Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) also caught investors’ attention after posting their quarterly results.
7. Hewlett Packard Enterprise Company (NYSE: HPE)
Number of Hedge Fund Holders: 34
Hewlett Packard Enterprise Company (NYSE: HPE) traces its roots back to 1939 when two Stanford University graduates named Bill Hewlett and David Packard founded the company in a Palo Alto garage. Today, it is a leading enterprise technology company, providing its services in servers, storage, and networking areas.
Shares of Hewlett Packard Enterprise Company (NYSE: HPE) fell for two straight days despite reporting its fiscal third-quarter profit above expectations. The company’s adjusted earnings rose 31 percent on a year-over-year basis to 47 cents per share, beating analysts’ average estimate of 42 cents per share.
Revenue inched up 3 percent to $6.9 billion, matching the consensus forecast. If we look at the performance of key segments, storage revenue rose 4 percent to $1.2 billion. In comparison, compute revenue fell 9 percent to $3.1 billion.
CEO Antonio Neri seemed pleased with the results. Neri said in a statement:
“We delivered a very impressive Q3 performance, marked by strong order growth, expanded margins and record free cash flow. I am pleased to see how our differentiated portfolio is resonating with the market, and our edge-to-cloud strategy is driving improved momentum across our businesses.”
Hewlett Packard Enterprise Company (NYSE: HPE) also updated the profit guidance for its fiscal 2021. It expects adjusted earnings in the range of $1.88 – $1.96 per share, up from its previous forecast between $1.82 – $1.94 per share.
Like Hewlett Packard Enterprise Company (NYSE: HPE), analysts are also closely watching Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) after their earnings release.
6. Copart, Inc. (NASDAQ: CPRT)
Number of Hedge Fund Holders: 44
Shares of Copart, Inc. (NASDAQ: CPRT) slightly moved up in the pre-market trading session Thursday, 9 September 2021, after announcing better-than-expected results for its fiscal fourth quarter ended 31 July.
Copart, Inc. (NASDAQ: CPRT) earned $1.03 per share on an adjusted basis, well above 68 cents per share in the year-ago quarter. Revenue came in at $748.6 million, up 42.4 percent from the comparable period of 2020.
Analysts, on average, were expecting Copart, Inc. (NASDAQ: CPRT) to report adjusted earnings of 90 cents per share on revenue of $690.870 million.
Separately, investment management firm mentioned Copart, Inc. (NASDAQ: CPRT) in its Q2 2021 investor letter. Here is what the fund said:
“Many of our companies reported very strong earnings back in April. The market shrugged these off as it pondered how much growth would be sustainable, are inflationary trends transitory, and when interest rates will rise. While a slow-down in the broader economic recovery would hurt our portfolio, I remain positive on our position’s market positioning and longer term trends.
Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) are also under investors’ radar after releasing their quarterly reports.
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Disclosure: None. 10 Stocks in Limelight After Releasing Their Earnings Reports is originally published on Insider Monkey.
