5 Stocks Gaining Attention After Releasing Their Earnings Reports

In this article, we discuss the 5 stocks gaining attention after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks Gaining Attention After Releasing Their Earnings Reports.

5. NetApp, Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 29

Shares of NetApp, Inc. (NASDAQ:NTAP) rose more than two percent in the after-hours trading session on Tuesday, 30 November 2021, after announcing better-than-expected financial results for its fiscal second quarter.

The data management solutions provider reported adjusted earnings of $1.28 per share, up from $1.05 per share in the same period last year. Analysts were expecting NetApp, Inc. (NASDAQ:NTAP) to earn $1.21 per share.

Revenue for the quarter jumped 11 percent on a year-over-year basis to $1.57 billion, beating expectations of $1.55 billion. Revenue from the hybrid cloud segment increased to $1.48 billion versus $1.37 billion in the year-ago quarter. In comparison, revenue from the public cloud segment came in at $87 million, significantly higher than $47 million in the same period last year.

The company also released the financial outlook for its fiscal third quarter. NetApp, Inc. (NASDAQ:NTAP) expects adjusted earnings in the range of $1.21 – $1.31 per share and revenue between $1.525 – $1.675 billion for the current quarter.

4. Hewlett Packard Enterprise Company (NYSE:HPE)

Number of Hedge Fund Holders: 33

Hewlett Packard Enterprise Company (NYSE:HPE) recently came into the limelight after announcing mixed financial results for its fiscal fourth quarter. The Texas-based tech company earned 52 cents per share, exceeding the consensus forecast of 48 cents per share.

Revenue for the quarter came in at $7.35 billion, up two percent from the year-ago quarter but missed analysts’ average estimate of $7.38 billion. If we look at the performance of key segments, Compute revenue in the quarter inched up one percent versus last year to $3.2 billion. In comparison, Storage revenue increased three percent to $1.3 billion, while Intelligent Edge revenue rose four percent to $815 million in the quarter.

Hewlett Packard Enterprise Company (NYSE:HPE) also released the profit outlook for its fiscal first quarter and FY 2022. It expects adjusted earnings in the range of 42 cents – 50 cents per share for the current quarter. For its FY 2022, it expects adjusted earnings between $1.96 -$2.10 per share.

Speaking on the results, CFO Tarek Robbiati said:

“HPE executed with discipline and exceeded all of our key financial targets in FY21. The demand environment has been incredibly strong and accelerated in the second half of the year, which gives us important momentum headed into next year. We are operating with greater focus and more agility and are well positioned to deliver against our FY22 outlook.”

3. Ambarella, Inc. (NASDAQ:AMBA)

Number of Hedge Fund Holders: 37

Shares of Ambarella, Inc. (NASDAQ:AMBA) climbed over 17 percent in the pre-market trading session on Wednesday, 1 December 2021, after delivering solid profit and sales for its fiscal third quarter.

The fabless semiconductor design company reported adjusted earnings of 57 cents per share, well above 9 cents per share in the comparable period of 2020. Revenue for the quarter climbed 64 percent on a year-over-year basis to $92.2 million. Analysts were expecting Ambarella, Inc. (NASDAQ:AMBA) to post earnings of 49 cents per share on revenue of $90 million.

The company also released the revenue outlook for its fiscal fourth quarter. Ambarella, Inc. (NASDAQ:AMBA) expects to generate revenue in the range of $88.5 million – $91.5 million for the current quarter.

Discussing the results, CEO Fermi Wang said in a statement:

“I’m pleased with our progress in Q3, with positive operating leverage driving non-GAAP operating margins into the 20% range. Our operational execution remains strong, yet supply dynamics remain difficult to predict, as shortages of other companies’ components has become a more significant and gating factor to our results and outlook.”

2. Zscaler, Inc. (NASDAQ:ZS)

Number of Hedge Fund Holders: 38

Shares of Zscaler, Inc. (NASDAQ:ZS) rose over six percent in the pre-market trading session on Wednesday, 1 December 2021, after beating expectations for its fiscal first quarter. The cloud-based information security company earned 14 cents per share on an adjusted basis, surpassing expectations of 12 cents per share.

Revenue came in at $230.5 million, ahead of analysts’ average estimate of $212 million. Zscaler, Inc. (NASDAQ:ZS) had posted adjusted earnings of 14 cents per share on revenue of $142.6 for the comparable period of 2020.

Looking forward, Zscaler, Inc. (NASDAQ:ZS) expects adjusted earnings in the range of 50 – 52 cents per share and revenue between $1- $1.01 billion for its FY 2022.

CEO Jay Chaudhry praised the latest performance, saying:

“We delivered outstanding results for the first quarter, with year-over-year revenue growth accelerating to 62%. We recently achieved a significant milestone of surpassing $1 billion in annual recurring revenue (ARR), and are now focusing on achieving $5 billion in ARR.”

1. salesforce.com, inc. (NYSE:CRM)

Number of Hedge Fund Holders: 119

Shares of salesforce.com, inc. (NYSE:CRM) fell nearly seven percent in the pre-market trading session on Wednesday, 1 December 2021. The drop came after the software company issued a weak financial outlook for its fiscal fourth-quarter along with its third-quarter results.

salesforce.com, inc. (NYSE:CRM) reported adjusted earnings of $1.27 per share, compared to $1.72 per share in the same period last year. Analysts were looking for earnings of 92 cents per share.

Revenue for the quarter jumped 27 percent on a year-over-year basis to $6.86 billion, just ahead of the consensus forecast of $6.8 billion. Revenue from subscription and support services advanced 25 percent versus last year to $6.38 billion, while professional services and other revenues climbed 45 percent to $0.48 billion in the quarter.

Looking forward, salesforce.com, inc. (NYSE:CRM) expects adjusted earnings in the range of 72 – 73 cents per share and revenue between $7.22 – $7.23 billion for the fourth quarter. The outlook missed the consensus forecast of 82 cents per share for earnings and $7.24 billion for revenue.

You can also take a peek at 10 Online Education Stocks to Buy and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

Follow Insider Monkey on Twitter