In this article, we will take a look at the 10 stocks making noise after posting their financial results. You can skip our detailed analysis of these companies, and go directly to the 5 Stocks Making Noise After Posting Their Financial Results.
Several tech stocks were seen making big moves after releasing their earnings reports. For instance, shares of Smartsheet Inc. (NYSE:SMAR), Marvell Technology, Inc. (NASDAQ:MRVL), and Synopsys, Inc. (NASDAQ:SNPS) climbed to new highs after beating expectations for their respective quarters.
On the other hand, DocuSign, Inc. (NASDAQ:DOCU) stock took a deep dive in the pre-market trading session on Friday, 3 December 2021, after issuing a weak sales outlook along with its Q3 results. In addition, companies like Ulta Beauty, Inc. (NASDAQ:ULTA) and The Kroger Co. (NYSE:KR) also came into the limelight after posting their earnings reports.
We will discuss the detailed financial performance of these companies in the remaining article. So, let’s start our list of 10 stocks making noise after posting their financial results.
Stocks Making Noise After Posting Their Financial Results
10. Verint Systems Inc. (NASDAQ:VRNT)
Number of Hedge Fund Holders: 25
Shares of Verint Systems Inc. (NASDAQ:VRNT) slipped nearly three percent in the after-hours trading session on Thursday, 2 December 2021, despite beating expectations for its fiscal third quarter.
The New York-based analytics company reported adjusted earnings of 69 cents per share, compared to 73 cents per share in the year-ago quarter. Revenue for the quarter rose four percent versus last year to $227 million. Analysts were expecting Verint Systems Inc. (NASDAQ:VRNT) to post earnings of 53 cents per share on revenue of $218 million.
The company also updated the revenue outlook for its FY 2022. Verint Systems Inc. (NASDAQ:VRNT) expects to generate revenue of around $875 million, up from its earlier guidance of around $872 million.
9. Guidewire Software, Inc. (NYSE:GWRE)
Number of Hedge Fund Holders: 26
Guidewire Software, Inc. (NYSE:GWRE) recently announced the financial results for its fiscal first quarter ended 31 October 2021. The California-based software company reported a loss of 21 cents per share on an adjusted basis, compared to earnings of 17 cents per share in the same period of 2020. Analysts were looking for a loss of 25 cents per share.
In addition, Guidewire Software, Inc. (NYSE:GWRE) posted revenue of $165.9 million, down two percent versus the year-ago quarter but ahead of the consensus forecast of $164.8 million. If we break down the total revenue by segments, subscription and support revenue jumped 36 percent to $79 million, while services revenue inched up one percent to $46.8 million in the quarter. On the downside, license revenue plummeted 38 percent to $40.2 million.
Looking forward, Guidewire Software, Inc. (NYSE:GWRE) expects revenue in the range of $195 million – $199 million for its fiscal second quarter. Moreover, the company expects to generate revenue between $780 million – $790 million for its FY 2022.
Like Guidewire Software, Inc. (NYSE:GWRE), investors are also closely watching Smartsheet Inc. (NYSE:SMAR), Marvell Technology, Inc. (NASDAQ:MRVL), Synopsys, Inc. (NASDAQ:SNPS), and DocuSign, Inc. (NASDAQ:DOCU), after they posted their earnings reports.
8. Signet Jewelers Limited (NYSE:SIG)
Number of Hedge Fund Holders: 33
Shares of Signet Jewelers Limited (NYSE:SIG) slipped to a nearly one-month low on Thursday, 2 December 2021, even though the diamond jewelry retailer announced better-than-expected profit and sales for its fiscal third quarter.
Signet Jewelers Limited (NYSE:SIG) earned $1.43 per share on an adjusted basis, crushing the consensus forecast of 72 cents per share. Revenue for the quarter came in at $1.54 billion, ahead of analysts’ average estimate of $1.43 billion. Same-store sales of 18.9 percent also surpassed the expectations of 11.6 percent growth.
Looking forward, Signet Jewelers Limited (NYSE:SIG) now expects revenue in the range of $7.41 billion – $7.49 billion for its fiscal year 2022, compared to its previous projection of $7.04 billion – $7.19 billion. The updated outlook is nearly in line with the consensus forecast of $7.16 billion.
Speaking on the results, CFO of Signet Jewelers Limited (NYSE:SIG), Joan Hilson, said in a statement:
“We remain cautious in our outlook for the balance of the year given uncertainties with COVID and the new Omicron variant, as well as potential shifts in consumer spending patterns.”
7. PVH Corp. (NYSE:PVH)
Number of Hedge Fund Holders: 38
Shares of PVH Corp. (NYSE:PVH) fell over four percent on Thursday, 2 December 2021, after announcing mixed financial results for its fiscal third quarter. The New York-based clothing company reported adjusted earnings of $2.67 per share, significantly higher than $1.32 per share in the comparable period of 2020. It was also better than the consensus forecast of $2.08 per share.
However, the quarterly revenue of $2.333 billion missed analysts’ average estimate of $2.4 billion. PVH Corp. (NYSE:PVH) blamed the logistics hurdles for affecting its revenue. The company had posted revenue of $2.12 billion for the comparable period of 2020.
Looking forward, PVH Corp. (NYSE:PVH) expects adjusted earnings of around $9.25 per share for its FY 2021, compared to a loss of $1.97 per share last year. In addition, the company expects its full-year revenue to grow between 27 – 28 percent versus 2020.
Like PVH Corp. (NYSE:PVH), Smartsheet Inc. (NYSE:SMAR), Marvell Technology, Inc. (NASDAQ:MRVL), Synopsys, Inc. (NASDAQ:SNPS), and DocuSign, Inc. (NASDAQ:DOCU) also came into the spotlight after announcing their quarterly results.
6. The Kroger Co. (NYSE:KR)
Number of Hedge Fund Holders: 39
Shares of The Kroger Co. (NYSE:KR) jumped more than 11 percent on Thursday, 2 December 2021, after posting better-than-expected financial results for its fiscal third quarter along with an upbeat full-year outlook.
The Kroger Co. (NYSE:KR) earned 78 cents per share on an adjusted basis, beating the consensus forecast of 67 cents per share. Revenue came in at $31.86 billion, surpassing expectations of $31.16 billion. The company had posted adjusted earnings of 71 cents per share on revenue of $29.72 billion for the comparable period of 2020.
The Ohio-based grocer also updated its profit outlook for the full year. The Kroger Co. (NYSE:KR) expects adjusted earnings in the range of $3.40 – $3.50 per share, compared to its previous guidance of $3.25 – $3.35 per share. The revised projection is above the consensus forecast of $3.36 per share.
Discussing the results, CEO of The Kroger Co. (NYSE:KR), Rodney McMullen, said in a statement:
“Our focus on execution, combined with our continued discipline in balancing investments in our associates and customers with exceptional cost management, and growth in our alternative profit business allowed us to exceed internal expectations and deliver strong sales and earnings growth.”
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Disclosure: None. 10 Stocks Making Noise After Posting Their Financial Results is originally published on Insider Monkey.
