In this article, we will take a look at the 10 stocks trending after releasing their earnings reports. You can skip our detailed analysis of these companies and go directly to the These 5 Stocks Are Trending After Releasing Their Earnings Reports.
Notable tech companies, including DocuSign, Inc. (NASDAQ:DOCU), CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and Oracle Corporation (NYSE:ORCL), recently came into the limelight after posting their earnings reports.
If we look at their price actions, DocuSign stock plunged sharply after its weak sales outlook overshadowed its better-than-expected results for Q4. On the other hand, CrowdStrike shares jumped over 12 percent following its solid quarterly performance. In addition, Oracle stock also turned green despite missing earnings expectations for its fiscal third quarter.
Several other companies, including electric vehicle maker Rivian Automotive, Inc. (NASDAQ:RIVN) and Chinese e-commerce giant JD.com, Inc. (NASDAQ:JD), were also seen making big moves following their financial results.
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Stocks Trending After Releasing Their Earnings Reports
10. LegalZoom.com, Inc. (NASDAQ:LZ)
Number of Hedge Fund Holders: 18
LegalZoom.com, Inc. (NASDAQ:LZ) recently announced better-than-expected earnings for the fourth quarter. However, its quarterly sales fell short of expectations, sending its shares down to an all-time low in the after-hours trading session on Thursday, March 10, 2022.
The online legal technology company reported adjusted earnings of 2 cents per share, contrary to analysts’ average estimate for a 1 cent per share loss. In addition, LegalZoom.com, Inc. (NASDAQ:LZ) posted revenue of $142.1 million, up 16 percent versus last year but behind the consensus of $143.71 million.
If we look at the sales performance of its flagship segments, transaction revenue for the quarter rose 8 percent to $56.5 million, while subscription revenue jumped 29 percent to $80.7 million in the quarter. On the downside, partner revenue fell 35 percent to $4.9 million.
Looking forward, LegalZoom.com, Inc. (NASDAQ:LZ) expects revenue in the range of $150 – $152 million for the first quarter and between $650 and $660 million for the full year.
9. FuelCell Energy, Inc. (NASDAQ:FCEL)
Number of Hedge Fund Holders: 20
Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) jumped nearly 10 percent on Thursday, March 10, 2022, despite posting mixed financial results for its fiscal first quarter. The Connecticut-based fuel cell company reported a loss of 11 cents per share, narrower than 15 cents per share in the year-ago period.
Revenue for the quarter came in at $31.8 million, representing a massive surge of 114 percent from the same period last year. Analysts were expecting FuelCell Energy, Inc. (NASDAQ:FCEL) to report a loss of 5 cents per share on revenue of $26.3 million.
FuelCell Energy, Inc. (NASDAQ:FCEL) also disclosed its segment-wise sales performance. Its generation revenue climbed 53 percent to $7.5 million, service agreements revenue fell 56 percent to $2.2 million and advanced technologies contract revenue declined 19 percent to $4.1 million in the quarter. In comparison, product revenue came in at $18 million, accounting for nearly 57 percent of the total sales.
Like FuelCell Energy, Inc. (NASDAQ:FCEL), investors are also closely observing DocuSign, Inc. (NASDAQ:DOCU), CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and Oracle Corporation (NYSE:ORCL), following their earnings reports.
8. United Natural Foods, Inc. (NYSE:UNFI)
Number of Hedge Fund Holders: 21
Shares of United Natural Foods, Inc. (NYSE:UNFI) recently fell to a nearly six-month low after posting its fiscal second-quarter profit below expectations. The Rhode Island-based food wholesaler earned $1.13 per share on an adjusted basis, slightly below the consensus of $1.14 per share.
Revenue for the quarter increased 7.5 percent on a year-over-year basis to $7.416 billion, beating analysts’ average estimate of $7.15 billion. United Natural Foods, Inc. (NYSE:UNFI) attributed the higher sales to solid demand from existing and new retailers.
Moving forward, United Natural Foods, Inc. (NYSE:UNFI) raised its fiscal 2022 revenue outlook to a range of $28.2 – $28.7 billion versus its previous projection between $27.8 – $28.3 billion. In addition, the company continues to expect adjusted earnings in the range of $3.90 – $4.20 per share for the same period.
Commenting on the results, CEO Steven L. Spinner said in a statement:
“Our strong second-quarter results demonstrate that UNFI continues to execute at a high level as we again leveraged strong year-over-year sales increases into even stronger bottom-line growth.”
7. Asana, Inc. (NYSE:ASAN)
Number of Hedge Fund Holders: 31
Shares of Asana, Inc. (NYSE:ASAN) plummeted more than 22 percent on Thursday, March 10, 2022, despite beating financial expectations for its fiscal fourth quarter. The San Francisco-based work management platform reported an adjusted loss of 25 cents per share, compared to a loss of 22 cents per share in the same period last year.
In addition, Asana, Inc. (NYSE:ASAN) posted revenue of $111.9 million for the quarter, up 64 percent on a year-over-year basis. The results were better than analysts’ average estimate for a loss of 28 cents per share and revenue of $105.2 million.
Among other updates, Asana, Inc. (NYSE:ASAN) reported that its paying customers exceeded 119,000 at the end of the quarter. In addition, the number of customers spending $5,000 or more on an annual basis surged to 15,437 in the fourth quarter, representing a jump of 52 percent over the same period last year.
Asana, Inc. (NYSE:ASAN) also issued the financial outlook for its fiscal year 2023. It guided for an adjusted loss in the range of 36 – 35 cents per share and revenue between $114.5 – $115.5 million.
Like Asana, Inc. (NYSE:ASAN), DocuSign, Inc. (NASDAQ:DOCU), CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and Oracle Corporation (NYSE:ORCL), also came into the spotlight after posting their financial results.
6. Ulta Beauty, Inc. (NASDAQ:ULTA)
Number of Hedge Fund Holders: 37
Shares of Ulta Beauty, Inc. (NASDAQ:ULTA) turned green in the pre-market trading session on Friday, March 11, 2022, following an upbeat financial performance for its fiscal fourth quarter and impressive outlook for the full year.
Ulta Beauty, Inc. (NASDAQ:ULTA) reported earnings of $5.41 per share, topping expectations of $4.57 per share. Revenue for the quarter rose 24.1 percent on a year-over-year basis to $2.7 billion, just ahead of the consensus of $2.69 billion.
Looking forward, Ulta Beauty, Inc. (NASDAQ:ULTA) expects earnings in the range of $18.20 – $18.70 and revenue between $9.05 – $9.15 billion for its fiscal year 2022. The outlook is above analysts’ average estimate of $17.18 per share for earnings and $8.59 billion for revenue.
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Disclosure: None. These 10 Stocks Are Trending After Releasing Their Earnings Reports is originally published on Insider Monkey.
