5 Stocks Drawing Attention on Quarterly Results

In this article, we discuss the 5 stocks drawing attention on quarterly results. If you want to read our detailed analysis of these companies, go directly to the 11 Stocks Drawing Attention on Quarterly Results. 

5. Nutanix, Inc. (NASDAQ:NTNX)

Number of Hedge Fund Holders: 29

Nutanix, Inc. (NASDAQ:NTNX) recently announced better-than-expected financial results for its fiscal third quarter. However, its sales outlook disappointed investors, sending its shares down more than 35 percent in the pre-market trading session on Thursday, May 26, 2022.

The cloud computing company reported an adjusted loss of 5 cents per share, narrower than the adjusted loss of 41 cents per share in the year-ago period. Revenue for the quarter increased 17.2 percent on a year-over-year basis to $403.66 million. Analysts were expecting Nutanix, Inc. (NASDAQ:NTNX) to report a loss of 22 cents per share on revenue of $397.87 million.

Looking forward, Nutanix, Inc. (NASDAQ:NTNX) expects revenue in the range of $340 – $360 million for its fiscal fourth quarter and between $1.535 – $1.555 billion for its fiscal year 2022. However, the outlook is below the consensus of $439 million for the current quarter and $1.63 billion for the full year.

Discussing the guidance, CEO Rajiv Ramaswami said:

“Late in the third quarter, we saw an unexpected impact from challenges that limited our upside in the quarter and affected our outlook for the fourth quarter. Increased supply chain delays with our hardware partners account for the significant majority of the impact to our outlook, and higher-than-expected sales rep attrition in the third quarter was also a factor.”

4. Williams-Sonoma, Inc. (NYSE:WSM)

Number of Hedge Fund Holders: 38

Shares of Williams-Sonoma, Inc. (NYSE:WSM) rose over seven percent in the pre-market trading session on Thursday, May 26, 2022, after the home furnishing retailer posted solid profit and sales for its fiscal first quarter.

Williams-Sonoma, Inc. (NYSE:WSM) earned $3.50 per share on an adjusted basis, up from $2.93 per share in the comparable period of 2021. Revenue came in at $1.89 billion, representing a surge of 8.1 percent over the year-ago period. The results exceeded analysts’ average estimate of $2.88 per share for earnings and $1.81 billion for revenue.

Comparable brand sales increased 9.5 percent, with a surge of 14.6 percent and 12.8 percent at Pottery Barn and West Elm, respectively. Among other updates, Williams-Sonoma, Inc. (NYSE:WSM) reported that its gross margin rose by 80 basis points to 43.8 percent in the quarter.

Speaking on the results, CEO Laura Alber said:

“We have a solid line-up of growth initiatives and operational improvements planned for the balance of the year. And, as we look further, we are confident in our path to be a $10 billion company by 2024.”

3. Splunk Inc. (NASDAQ:SPLK)

Number of Hedge Fund Holders: 42

Splunk Inc. (NASDAQ:SPLK) delivered impressive financial results for its fiscal first quarter and an upbeat sales outlook for the full year. As a result, its shares jumped over 5 percent in the pre-market trading session on Thursday, May 26, 2022.

The software company reported an adjusted loss of 32 cents per share, narrower than analysts’ average estimate for a loss of 74 cents per share. In addition, Splunk Inc. (NASDAQ:SPLK) posted revenue of $674.08 million, up 34.3 percent versus last year and ahead of the expectations of $628.75 million.

For its fiscal year 2023, Splunk Inc. (NASDAQ:SPLK) now expects revenue of $3.3 – $3.35 billion versus its previous outlook of $3.25 – $3.3 billion. The revised guidance is better than analysts’ average estimate of $3.27 billion.

Discussing the results, CEO Gary Steele said:

“Splunk is still very early in a massive market opportunity. As our continued growth and strong customer retention demonstrate, we are the system-of-record for our customers and one that’s deeply embedded within their organization’s security and IT operations.”

2. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 81

Shares of Snowflake Inc. (NYSE:SNOW) plummeted to a new 52-week low in the pre-market trading session on Thursday, May 26, 2022, following a mixed financial performance for its fiscal first quarter and a weak sales outlook for the current quarter.

Snowflake Inc. (NYSE:SNOW) reported a loss of 53 cents per share, compared to a loss of 70 cents per share in the year-ago period. On the contrary, analysts were looking for earnings of 1 cent per share.

On the positive side, Snowflake Inc. (NYSE:SNOW) posted revenue of $422.37 million, representing a surge of 85 percent over the same period of 2021. It was also higher than the consensus of $412.76 million. Moreover, product revenue for the quarter jumped 84 percent to $394.4 million, accounting for nearly 84 percent of the total sales.

Looking forward, Snowflake Inc. (NYSE:SNOW) expects to generate product revenue in the range of $435 – $440 million for its fiscal second quarter, below analysts’ average estimate of $466.15 million.

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 102

Shares of NVIDIA Corporation (NASDAQ:NVDA) turned red in the pre-market trading session on Thursday, May 26, 2022, following a muted sales outlook for the current quarter. The graphics processors giant projected revenue of about $8.1 billion for its fiscal second quarter, below the expectations of $8.45 billion.

The weak outlook also overshadowed NVIDIA’s better-than-expected results for its fiscal first quarter. NVIDIA Corporation (NASDAQ:NVDA) posted adjusted earnings of $1.36 per share for the three months ended May 1, well above 91 cents per share for the comparable period of 2021. Revenue for the quarter climbed 46 percent versus last year to $8.29 billion. The results easily surpassed the consensus of $1.29 per share for earnings and $8.12 billion for revenue.

NVIDIA Corporation (NASDAQ:NVDA) also released its segment-wise sales results. Its data center revenue skyrocketed 83 percent to $3.75 billion, gaming revenue climbed 31 percent to $3.62 billion, and professional visualization revenue soared 67 percent to $622 million in the quarter. The only downside was the automotive and robotics segment, which generated revenue of $138 million, down 10 percent on a year-over-year basis.

You can also take a peek at 10 Best Railroad Stocks To Invest in and 10 Favorite Stocks of Dan Loeb’s Third Point.

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