5 Stocks in Limelight After Releasing Their Earnings Reports

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

5. Lululemon Athletica Inc. (NASDAQ: LULU)

Number of Hedge Fund Holders: 46

Shares of Lululemon Athletica Inc. (NASDAQ: LULU) jumped more than 14 percent in the pre-market trading session Thursday, 9 September 2021. The surge was driven by the company’s solid profit and sales for the second quarter.

Lululemon Athletica Inc. (NASDAQ: LULU) reported adjusted earnings of $1.65 for the quarter, more than doubled from 74 cents per share in the comparable period of 2020. Revenue for the quarter climbed 61 percent on a year-over-year basis to $1.5 billion. The results were well above the consensus forecast of $1.19 per share for earnings and $1.33 billion for revenue.

Speaking on the results, CEO Calvin McDonald said:

“Our second quarter results demonstrate the continued momentum across the business, and how we are living into our Power of Three growth plan and Impact Agenda commitments. We launched exciting new products, experienced strength across channels and geographies, and announced new partnerships that will allow us to become a leader in product sustainability.”

Lululemon Athletica Inc. (NASDAQ: LULU) also released its financial outlook for the full year. It expects adjusted earnings in the range of $7.38 – $7.48 per share and revenue between $6.190 billion – $6.260 billion.

4. Smartsheet Inc. (NYSE: SMAR)

Number of Hedge Fund Holders: 49

Shares of Smartsheet Inc. (NYSE: SMAR) fell more than 14 percent on Wednesday, 8 September 2021, despite beating expectations for the second quarter. The company reported an adjusted loss of 5 cents per share for the three months ended 31 July, marginally lower than the adjusted loss of 6 cents per share in the year-ago quarter.

Analysts were expecting Smartsheet Inc. (NYSE: SMAR) to report a loss of 13 cents per share. Revenue for the quarter climbed 44 percent on a year-over-year basis to $131.7 million, ahead of the consensus forecast of $125.51 million.

Smartsheet Inc. (NYSE: SMAR) enjoyed growth across its key business segments. Subscription revenue in the quarter jumped 45 percent versus last year to $121.1 million, while revenue from the professional services rose 40 percent to $10.6 million.

Discussing the latest performance, CEO Mark Mader said:

“Our strong results this quarter reflect the continued rapid adoption of our platform in new deals and expansion within existing customer. Across the globe, customers choose Smartsheet to manage programs at scale, automate workflows across systems, and rapidly configure no code solutions. Looking ahead, we’re committed to continue innovating with our customers to create new, more powerful ways of working in a hybrid world.”

Smartsheet Inc. (NYSE: SMAR) also released the financial guidance for its fiscal 2022. It expects an adjusted loss in the range of 44 – 36 cents per share and revenue between $530 million – $533 million.

3. DocuSign, Inc. (NASDAQ: DOCU)

Number of Hedge Fund Holders: 58

DocuSign, Inc. (NASDAQ: DOCU) recently caught investors’ attention after delivering impressive second-quarter results and improved full-year outlook. The company reported adjusted earnings of 47 cents per share for the three months ended 31 July, well above 17 cents per share in the comparable period of 2020.

Revenue for the quarter climbed 50 percent on a year-over-year basis to $511.8 million. Analysts, on average, were expecting DocuSign, Inc. (NASDAQ: DOCU) to post earnings of 40 cents per share on revenue of $488.7 million.

Commenting on the quarter, CEO Dan Springer said:

“I’m proud of how our team has continued to stay in front of the evolving COVID business environment, helping our over one million customers and over one billion users move forward. This has driven strong performance for our business, reflected in our 50% year-over-year Q2 revenue growth.”

DocuSign, Inc. (NASDAQ: DOCU) also updated the sales outlook for its fiscal 2022. It now expects revenue in the range of $2.078 billion – $2.088 billion, compared to its earlier guidance between $2.027 billion – $2.039 billion. The updated outlook is better than the consensus forecast of $2.05 billion.

2. Coupa Software Incorporated (NASDAQ: COUP)

Number of Hedge Fund Holders: 54

Shares of Coupa Software Incorporated (NASDAQ: COUP) slipped over 4 percent on Wednesday, 8 September 2021, even after announcing better-than-expected results for the second quarter. The software company reported adjusted earnings of 26 cents per share, compared to 21 cents per share in the same period last year.

Analysts were expecting Coupa Software Incorporated (NASDAQ: COUP) to report a loss of 6 cents per share. Revenue for the quarter rose 42 percent on a year-over-year basis to $179.2 million, ahead of the consensus forecast of $162.9 million.

CEO Rob Bernshteyn said in a statement:

“We are proud to report another fantastic quarter where we delivered record revenue, strong calculated billings growth, and our third year of consecutive quarterly non-GAAP profitability. Digitizing and optimizing back-office operations is being prioritized as a key strategic initiative for our customers, and the Coupa platform is critical for their ability to develop agility and adaptability in these rapidly changing times.”

Looking forward, Coupa Software Incorporated (NASDAQ: COUP) expects adjusted earnings in the range of 27 – 29 cents per share and revenue between $706 – $708 million fir its fiscal year 2022.

1. SentinelOne, Inc. (NYSE: S)

Number of Hedge Fund Holders: 67

Shares of SentinelOne, Inc. (NYSE: S) declined nearly 4 percent on Wednesday, 8 September 2021, after the company reported a wider-than-expected loss for its fiscal second quarter ended 31 July.

The cybersecurity startup reported an adjusted loss of 38 cents per share, narrower than 62 cents per share in the year-ago quarter. However, analysts were expecting SentinelOne, Inc. (NYSE: S) to post a loss of 20 cents per share on an adjusted basis.

On the bright side, revenue for the quarter skyrocketed 121 percent to $45.8 million, beating the consensus forecast of $40.47 million. Looking forward, SentinelOne, Inc. (NYSE: S) expects revenue in the range of $49 – $50 million for the third quarter.

Speaking on the results, CEO Tomer Weingarten said:

“We’re devoted to protecting our customers and our way of life from cyberattacks in an increasingly digital society. Cybersecurity must be autonomous – that’s what we’ve built. It must perform at a faster speed, greater scale, and higher accuracy than what exists today. Our IPO was a significant milestone and is only the beginning of the opportunity in front of us. I’m pleased with the success and growth we delivered in Q2.”

You can also take a peek at 10 Dividend ETFs with Over 4% Yield and 11 Stocks to Buy Now According to Jeffrey Gendell’s Tontine Asset Management.

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