In this article, we will take a look at the 11 stocks making headlines after earnings reports. You can skip our detailed analysis of these companies and go directly to the 5 Stocks Making Headlines After Earnings Reports.
Notable companies from the technology sector, including SentinelOne, Inc. (NYSE:S), Smartsheet Inc. (NYSE:SMAR) and Coupa Software Incorporated (NASDAQ:COUP), recently grabbed investors’ attention after posting financial results for their respective quarters.
Shares of SentinelOne and Smartsheet rose on heavy volume following their upbeat financial performance, while Coupa Software stock plummeted to a nearly a three-year low after issuing a weak sales outlook.
Many other companies, including video-based social media platform JOYY Inc. (NASDAQ:YY) and building products maker Janus International Group, Inc. (NYSE:JBI), also came into the spotlight after releasing their financial results.
Stocks Making Headlines After Earnings Reports
11. EverCommerce Inc. (NASDAQ:EVCM)
Number of Hedge Fund Holders: 11
Shares of EverCommerce Inc. (NASDAQ:EVCM) closed higher on Tuesday, March 15, 2022, despite posting mixed financial performance for the fourth quarter. The Denver-based service commerce platform reported a loss of 2 cents per share, narrower than the loss of $1.14 per share in the year-ago period.
Revenue for the quarter came in at $135.6 million, up 47 percent on a year-over-year basis. Analysts were expecting EverCommerce Inc. (NASDAQ:EVCM) to report earnings of 7 cents per share on revenue of $130.41 million.
EverCommerce Inc. (NASDAQ:EVCM) also issued its sales outlook for the current quarter and full year. The company guided for revenue in the range of $140 – $141 million for the first quarter and between $619 – $625 million for 2022.
10. Boxed, Inc. (NYSE:BOXD)
Number of Hedge Fund Holders: 15
Shares of Boxed, Inc. (NYSE:BOXD) turned red in the after-hours trading session on Tuesday, March 15, 2022, after posting a wider-than-expected loss for the fourth quarter. The online bulk grocery retailer reported a loss of $1.64 per share, higher than analysts’ average estimate for a loss of 23 cents per share.
On the bright side, Boxed, Inc. (NYSE:BOXD) posted revenue of $45 million that surpassed the consensus of $4.184 million. Its retail revenue decreased 8.1 percent on a year-over-year basis to $39.7 million, while revenue from the software and services segment came in at $5.3 million.
Looking forward, Boxed, Inc. (NYSE:BOXD) expects revenue in the range of $220 – $245 million for the current fiscal year. The outlook translates to a growth of 24 – 38 percent over 2021.
Like Boxed, Inc. (NYSE:BOXD), investors are also closely watching SentinelOne, Inc. (NYSE:S), Smartsheet Inc. (NYSE:SMAR) and Coupa Software Incorporated (NASDAQ:COUP), following their earnings reports.
9. ANI Pharmaceuticals, Inc. (NASDAQ:ANIP)
Number of Hedge Fund Holders: 15
Shares of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) recently dropped to a nearly six-month low after announcing lower-than-expected profit for the fourth quarter. The Minnesota-based pharmaceutical company earned 54 cents per share on an adjusted basis, down from 80 cents per share in the year-ago period and below the consensus of 74 cents per share.
Revenue for the quarter rose 6.4 percent on a year-over-year basis to $60.9 million, topping expectations of $56.30 million. ANI Pharmaceuticals, Inc. (NASDAQ:ANIP) also released its segment-wise sales performance. Revenue from its generic pharmaceutical products increased 8 percent to $41.6 million and accounted for nearly 70 percent of the total quarterly sales.
In comparison, revenue from branded pharmaceutical products decreased 7 percent to $14.7 million, while contract manufacturing revenue jumped 26 percent to $2.8 million in the quarter.
Speaking on the results, CEO of ANI Pharmaceuticals, Inc. (NASDAQ:ANIP), Nikhil Lalwani, said in a statement:
“We are also pleased to have closed our acquisition of Novitium Pharma, which brings a world-class R&D engine to ANI. Since deal closure, our integrated team has launched eight new products, filed five new ANDAs, and initiated enhancement of R&D productivity and capture of procurement, distribution, and operational efficiencies. These achievements, together with the strengthening of our balance sheet through our debt refinancing and recent $75 million equity raise, position us well to deliver long-term sustainable growth.”
8. Sovos Brands, Inc. (NASDAQ:SOVO)
Number of Hedge Fund Holders: 17
Shares of Sovos Brands, Inc. (NASDAQ:SOVO) slipped nearly four percent on Tuesday, March 15, 2022, despite announcing better-than-expected profit and sales for its fiscal fourth quarter.
Sovos Brands, Inc. (NASDAQ:SOVO) reported adjusted earnings of 13 cents per share, marginally below 14 cents per share in the same period of 2020. In addition, revenue for the quarter jumped 17 percent versus last year to $189.2 million.
The results topped analysts’ average estimate of 11 cents per share for earnings and $183.9 million for revenue. Looking forward, Sovos Brands, Inc. (NASDAQ:SOVO) expects revenue in the range of $800 – $815 million for its fiscal year 2022.
7. JOYY Inc. (NASDAQ:YY)
Number of Hedge Fund Holders: 18
Shares of JOYY Inc. (NASDAQ:YY) soared nearly 30 percent in the after-hours trading session on Tuesday, March 15, 2022, following its upbeat financial performance for the fourth quarter. The video-based social media platform attributed the solid results to increased revenue from its flagship app Bigo Live.
JOYY Inc. (NASDAQ:YY) earned $1.15 per share on an adjusted basis, swinging from a loss of 28 cents per share in the comparable period of 2020. The numbers were also significantly higher than the consensus of 36 cents per share.
Revenue came in at $663.7 million, up 16.8 percent from the year-ago period and above expectations of $652.43 million. Live streaming revenue rose 15 percent on a year-over-year basis to $620.9 million and represented more than 90 percent of the total sales.
Looking forward, JOYY Inc. (NASDAQ:YY) expects to generate revenue in the range of $601 – $616 million for the first quarter.
Like JOYY Inc. (NASDAQ:YY), SentinelOne, Inc. (NYSE:S), Smartsheet Inc. (NYSE:SMAR) and Coupa Software Incorporated (NASDAQ:COUP) also came into the spotlight after releasing their financial results.
6. DLocal Limited (NASDAQ:DLO)
Number of Hedge Fund Holders: 18
Shares of DLocal Limited (NASDAQ:DLO) rose over 10 percent on Tuesday, March 15, 2022, after delivering solid profit and sales for the fourth quarter. The financial technology company reported earnings of 8 cents per share, doubled from 4 cents per share in the year-ago period.
In addition, DLocal Limited (NASDAQ:DLO) posted revenue of $76.3 million, representing a massive surge of 120 percent over the same period of 2020. The results exceeded analysts’ average estimate of 7 cents per share for earnings and $74.2 million for revenue.
Addressing shareholders in a letter, DLocal Limited (NASDAQ:DLO) said:
“2021 was a record year. Our TPV almost tripled in 2021, surpassing the US$6 billion threshold, increasing by 193% year-over-year. Revenues for the year reached US$244 million, a 134% year-over-year growth, with an Adjusted EBITDA margin of 41%, compared to 40% in 2020.”
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Disclosure: None. 11 Stocks Making Headlines After Earnings Reports is originally published on Insider Monkey.
