10 Stocks Gaining Attention After Releasing Their Earnings Reports

In this article, we will take a look at the 10 stocks gaining attention after releasing their earnings reports.

Tech companies, including salesforce.com, inc. (NYSE:CRM), Zscaler, Inc. (NASDAQ:ZS), NetApp, Inc. (NASDAQ:NTAP), Hewlett Packard Enterprise Company (NYSE:HPE), and Ambarella, Inc. (NASDAQ:AMBA), recently released their quarterly financial reports.

Shares of NetApp, Ambarella, and Zscaler, were seen trading higher in the pre-market trading session on Wednesday, 1 December 2021, after they surpassed expectations for their respective quarters. However, salesforce.com stock turned red after issuing a weak financial outlook for its fiscal fourth quarter.

Photo by Joshua Mayo on Unsplash

We will discuss the key highlights of their performance in the remaining article. Therefore, let’s start our list of 10 stocks gaining attention after releasing their earnings reports.

Stocks Gaining Attention After Releasing Their Earnings Reports

10. Frontline Ltd. (NYSE:FRO)

Number of Hedge Fund Holders: 8

Frontline Ltd. (NYSE:FRO) recently announced lower-than-expected financial results for the third quarter ended 30 September 2021. The oil tanker shipping company reported an adjusted loss of 18 cents per share, compared to earnings of 29 cents per share in the year-ago quarter.

Revenue for the quarter came in at $171.8 million, down 30.6 percent versus the comparable period of 2020. Analysts were expecting Frontline Ltd. (NYSE:FRO) to report a loss of 15 cents per share on revenue of $605.57 million.

Speaking on the results, CEO of Frontline Ltd. (NYSE:FRO), Lars H. Barstad said:

“The third quarter continued to be a challenging period for tanker owners. Global oil demand rose, but oil supply growth remained muted, resulting in one of the most demanding quarters on record for tankers.”

9. Hello Group Inc. (NASDAQ:MOMO)

Number of Hedge Fund Holders: 18

Shares of Hello Group Inc. (NASDAQ:MOMO) slipped nearly three percent on Tuesday, 30 November 2021, despite beating expectations for the third quarter. The Chinese entertainment company reported adjusted earnings of 42 cents per share, beating the consensus forecast of 31 cents per share.

In addition, Hello Group Inc. (NASDAQ:MOMO) posted revenue of $583.4 million, ahead of the analysts’ average estimate of $573.6 million. If we look at the performance of key segments, revenue from the live video services slipped 8.8 percent to $336.3 million, while mobile marking revenue fell 14.1 percent to $6.7 million. On the bright side, revenue from the value-added services jumped 15.2 percent to $238.0 million.

Discussing the results, CEO of Hello Group Inc. (NASDAQ:MOMO), Li Wang, said in a statement:

“We continued to push forward with all of our strategic goals. For the first time since the beginning of the COVID-19 pandemic, core Momo revenue has achieved year-over-year growth. Although we still have many hard work to do at Tantan, I am glad that we are finally on track to make concrete progresses on the product fronts.”

Like Hello Group Inc. (NASDAQ:MOMO), investors are also closely watching salesforce.com, inc. (NYSE:CRM), Zscaler, Inc. (NASDAQ:ZS), NetApp, Inc. (NASDAQ:NTAP), Hewlett Packard Enterprise Company (NYSE:HPE), and Ambarella, Inc. (NASDAQ:AMBA) after their earnings reports.

8. Li Auto Inc. (NASDAQ:LI)

Number of Hedge Fund Holders: 18

Shares of Li Auto Inc. (NASDAQ:LI) rose for two consecutive trading sessions after delivering impressive financial results for the third quarter on Monday, 29 November 2021. The Chinese electric vehicle (EV) maker earned 5 cents per share on an adjusted basis, surpassing the consensus forecast of 2 cents per share.

Revenue for the quarter skyrocketed nearly 210 percent versus last year to $1.21 billion. On the other hand, analysts were expecting Li Auto Inc. (NASDAQ:LI) to generate revenue of $1.16 billion in the quarter.

Vehicle margin in the quarter stood at 21.1 percent, up from 19.8 percent in the comparable period of 2020. In addition, Li Auto Inc. (NASDAQ:LI) announced that it delivered 25,116 vehicles during the quarter, representing a surge of 190 percent from the same period last year.

Looking forward, Li Auto Inc. (NASDAQ:LI) expects vehicle deliveries in the range of 30,000 – 32,000 and revenue between $1.37 – $1.46 billion for the fourth quarter.

7. Donaldson Company, Inc. (NYSE:DCI)

Number of Hedge Fund Holders: 25

Donaldson Company, Inc. (NYSE:DCI) released its earnings report on Wednesday, 1 December 2021. The Minnesota-based filtration company reported earnings of 61 cents per share for its fiscal first quarter ended 31 October 2021. This compares to earnings of 48 cents per share in the comparable period of 2020.

Revenue for the quarter jumped 19.5 percent on a year-over-year basis to $760.9 million. Revenue from the Engine Products segment rose 20.9 percent, while revenue from the Industrial Products segment jumped 16.6 percent on a year-over-year basis.

Analysts were expecting Donaldson Company, Inc. (NYSE:DCI) to post earnings of 55 cents per share on revenue of $745.4 million.

The company also updated the financial outlook for its FY 2022. Donaldson Company, Inc. (NYSE:DCI) now expects earnings in the range of $2.57 – $2.73 per share and revenue growth between 8 – 12 percent. Previously, it was looking for earnings of $2.50 – $2.66 per share on revenue growth of 5 – 10 percent.

Like Donaldson Company, Inc. (NYSE:DCI), salesforce.com, inc. (NYSE:CRM), Zscaler, Inc. (NASDAQ:ZS), NetApp, Inc. (NASDAQ:NTAP), Hewlett Packard Enterprise Company (NYSE:HPE), and Ambarella, Inc. (NASDAQ:AMBA) also came into the limelight after releasing their financial results.

6. Box, Inc. (NYSE:BOX)

Number of Hedge Fund Holders: 29

Shares of Box, Inc. (NYSE:BOX) rose more than nine percent in the after-hours trading session on Tuesday, 30 November 2021, after announcing better-than-expected financial results for its fiscal third quarter.

Box, Inc. (NYSE:BOX) reported adjusted earnings of 22 cents per share, up from 20 cents per share in the comparable period of 2020. Analysts were looking for earnings of 21 cents per share. Revenue for the quarter came in at $224 million, up 14 percent from the year-ago quarter and ahead of the consensus forecast of $218.6 million.

The cloud computing company also updated the financial outlook for FY 2022. Box, Inc. (NYSE:BOX) expects adjusted earnings in the range of 83 – 84 cents per share and revenue between $868 – $870 million.

Commenting on the quarter, CEO Aaron Levie said in a statement:

“Our strong third quarter results show the continued momentum of our long-term growth strategy, as more customers are turning to the Box Content Cloud to deliver secure content management and collaboration built for the new way of working.”

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.

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Disclosure: None. 10 Stocks Gaining Attention After Releasing Their Earnings Reports is originally published on Insider Monkey.