11 Stocks Drawing Attention on Quarterly Results

In this article, we will take a look at the 11 stocks drawing attention on quarterly results.

Notable tech stocks, including NVIDIA Corporation (NASDAQ:NVDA), Snowflake Inc. (NYSE:SNOW), Splunk Inc. (NASDAQ:SPLK) and Nutanix, Inc. (NASDAQ:NTNX), were spotted making big moves following their earnings reports.

NVIDIA and Nutanix posted better-than-expected results, but their shares dropped in the pre-market trading Thursday, May 26, on muted sales outlook. On the other hand, Splunk shares rallied following its upbeat quarterly performance, while Snowflake stock plummeted to a new 52-week low following its mixed financial results.

Many other companies, including home furnishing retailer Williams-Sonoma, Inc. (NYSE:WSM) and tech firm Box, Inc. (NYSE:BOX), also came into the limelight after posting their earnings reports.

Stocks Drawing Attention on Quarterly Results

11. Guess’, Inc. (NYSE:GES)

Number of Hedge Fund Holders: 13

Shares of Guess’, Inc. (NYSE:GES) rose nearly two percent in the after-hours trading session on Wednesday, May 25, 2022, despite posting mixed financial results for its fiscal first quarter. The clothing retailer reported adjusted earnings of 24 cents per share, compared to 21 cents per share in the year-ago period.

Moreover, revenue for the quarter jumped 14 percent on a year-over-year basis to $593.5 million. Analysts were expecting Guess’, Inc. (NYSE:GES) to report earnings of 29 cents per share on revenue of $584.39 million.

Looking forward, Guess’, Inc. (NYSE:GES) projected revenue growth of about 1 percent for its fiscal second quarter and around 4 percent for its fiscal year 2022.

Discussing the outlook, Chief Creative Officer Paul Marciano said in a statement:

“As we look at the remainder of the year, we remain focused on carefully managing our business and believe we can deliver about 4% revenue growth and an operating margin above 10% for the current year, which includes a significant unfavorable currency impact versus the prior year due to the stronger U.S. dollar.”

10. e.l.f. Beauty, Inc. (NYSE:ELF)

Number of Hedge Fund Holders: 20

Shares of e.l.f. Beauty, Inc. (NYSE:ELF) rose nearly four percent in the extended hours on Wednesday, May 25, 2022, after beating profit and sales expectations for its fiscal fourth quarter.

e.l.f. Beauty, Inc. (NYSE:ELF) earned 13 cents per share on an adjusted basis, crushing expectations of 6 cents per share. Revenue for the quarter jumped 13 percent versus last year to $105.1 million and easily surpassed the consensus of $91.2 million.

The California-based cosmetics maker also released the financial outlook for its fiscal 2023. e.l.f. Beauty, Inc. (NYSE:ELF) expects adjusted earnings in the range of 78 – 81 cents per share and revenue between $432 – $440 million. This compares to analysts’ average estimate for earnings of 84 cents per share and revenue of $401.6 million.

Like e.l.f. Beauty, Inc. (NYSE:ELF), investors are also closely monitoring NVIDIA Corporation (NASDAQ:NVDA), Snowflake Inc. (NYSE:SNOW) and Nutanix, Inc. (NASDAQ:NTNX) following their quarterly reports.

9. Zuora, Inc. (NYSE:ZUO)

Number of Hedge Fund Holders: 26

Shares of Zuora, Inc. (NYSE:ZUO) turned red in the after-hours trading session on Wednesday, May 25, 2022, after posting a wider-than-expected loss for its fiscal first quarter. The enterprise software company reported an adjusted loss of 3 cents per share, compared to an adjusted loss of 2 cents per share in the same period of 2021. Analysts were looking for a loss of 1 cent per share.

On the bright side, Zuora, Inc. (NYSE:ZUO) posted revenue of $93.2 million, up 16 percent on a year-over-year basis and ahead of the consensus of $92.11 million. Subscription revenue climbed 21 percent to $78.5 million and represented more than 84 percent of the total sales.

For its fiscal second quarter, Zuora, Inc. (NYSE:ZUO) guided for an adjusted loss in the range of 6 – 5 cents per share and revenue between $96.5 – $98.5 million. For the full year, it projected an adjusted loss of 19 – 15 cents per share and revenue of $402 – $406 million.

8. Box, Inc. (NYSE:BOX)

Number of Hedge Fund Holders: 26

Box, Inc. (NYSE:BOX) announced a lower-than-expected profit for its fiscal first quarter, sending its shares down more than 5 percent in the extended hours on Wednesday, May 25, 2022.

The cloud content management platform reported adjusted earnings of 23 cents per share, missing the consensus of 25 cents per share. On the positive side, revenue for the quarter jumped 18 percent versus last year to $238.4 million, while analysts were expecting Box, Inc. (NYSE:BOX) to post revenue of $234.56 million.

Looking forward, Box, Inc. (NYSE:BOX) anticipates adjusted earnings in the range of 27 – 28 cents per share and revenue between $244 – $246 million for its fiscal second quarter.

Discussing the results, CFO Dylan Smith said:

“We had an excellent start to the year, with a fifth consecutive quarter of accelerating revenue growth. Our strong multi-product suites momentum drove a Net Retention Rate of 111%, up 800 basis points from 103% in the year ago period. Despite significant FX headwinds, our underlying business remains strong as we continue to execute on our Content Cloud platform strategy to ensure that we will drive further annual revenue acceleration and continued margin expansion in FY23.”

7. DXC Technology Company (NYSE:DXC)

Number of Hedge Fund Holders: 27

Shares of DXC Technology Company (NYSE:DXC) slightly moved down in the after-hours trading session on Wednesday, May 25, 2022, after missing profit and sales expectations for its fiscal fourth quarter.

DXC Technology Company (NYSE:DXC) earned 84 cents per share on an adjusted basis, up from 74 cents per share in the year-ago period. Revenue came in at $4.01 billion, down 8.6 percent on a year-over-year basis. The results fell short of the consensus of 99 cents per share for earnings and $4.12 billion for revenue.

DXC Technology Company (NYSE:DXC) also released segment-wise sales results. Revenue from the global business services declined 5.4 percent to $1.892 billion, while revenue from the global infrastructure services fell 11.3 percent to $2.116 billion in the quarter.

Like DXC Technology Company (NYSE:DXC), NVIDIA Corporation (NASDAQ:NVDA), Snowflake Inc. (NYSE:SNOW) and Nutanix, Inc. (NASDAQ:NTNX) also came into the spotlight following their quarterly reports.

6. Nordstrom, Inc. (NYSE:JWN)

Number of Hedge Fund Holders: 29

Shares of Nordstrom, Inc. (NYSE:JWN) jumped over 14 percent on Wednesday, May 25, 2022, despite delivering a mixed financial performance for its fiscal first quarter. The luxury department store chain reported an adjusted loss of 6 cents per share, slightly wider than analysts’ average estimate for a loss of 5 cents per share.

On the bright side, revenue for the quarter increased to $3.47 billion, from $2.92 billion for the comparable period of 2021. Analysts were expecting Nordstrom, Inc. (NYSE:JWN) to generate revenue of $3.28 billion

For its fiscal year 2022, Nordstrom, Inc. (NYSE:JWN) now expects adjusted earnings in the range of $3.38 – $3.68 per share and revenue growth between 6 – 8 percent. Previously, it was looking for earnings of $3.15 – $3.50 per share and revenue growth of 5 -7 percent for the same period.

5. Nutanix, Inc. (NASDAQ:NTNX)

Number of Hedge Fund Holders: 29

Nutanix, Inc. (NASDAQ:NTNX) recently announced better-than-expected financial results for its fiscal third quarter. However, its sales outlook disappointed investors, sending its shares down more than 35 percent in the pre-market trading session on Thursday, May 26, 2022.

The cloud computing company reported an adjusted loss of 5 cents per share, narrower than the adjusted loss of 41 cents per share in the year-ago period. Revenue for the quarter increased 17.2 percent on a year-over-year basis to $403.66 million. Analysts were expecting Nutanix, Inc. (NASDAQ:NTNX) to report a loss of 22 cents per share on revenue of $397.87 million.

Looking forward, Nutanix, Inc. (NASDAQ:NTNX) expects revenue in the range of $340 – $360 million for its fiscal fourth quarter and between $1.535 – $1.555 billion for its fiscal year 2022. However, the outlook is below the consensus of $439 million for the current quarter and $1.63 billion for the full year.

Discussing the guidance, CEO Rajiv Ramaswami said:

“Late in the third quarter, we saw an unexpected impact from challenges that limited our upside in the quarter and affected our outlook for the fourth quarter. Increased supply chain delays with our hardware partners account for the significant majority of the impact to our outlook, and higher-than-expected sales rep attrition in the third quarter was also a factor.”

4. Williams-Sonoma, Inc. (NYSE:WSM)

Number of Hedge Fund Holders: 38

Shares of Williams-Sonoma, Inc. (NYSE:WSM) rose over seven percent in the pre-market trading session on Thursday, May 26, 2022, after the home furnishing retailer posted solid profit and sales for its fiscal first quarter.

Williams-Sonoma, Inc. (NYSE:WSM) earned $3.50 per share on an adjusted basis, up from $2.93 per share in the comparable period of 2021. Revenue came in at $1.89 billion, representing a surge of 8.1 percent over the year-ago period. The results exceeded analysts’ average estimate of $2.88 per share for earnings and $1.81 billion for revenue.

Comparable brand sales increased 9.5 percent, with a surge of 14.6 percent and 12.8 percent at Pottery Barn and West Elm, respectively. Among other updates, Williams-Sonoma, Inc. (NYSE:WSM) reported that its gross margin rose by 80 basis points to 43.8 percent in the quarter.

Speaking on the results, CEO Laura Alber said:

“We have a solid line-up of growth initiatives and operational improvements planned for the balance of the year. And, as we look further, we are confident in our path to be a $10 billion company by 2024.”

3. Splunk Inc. (NASDAQ:SPLK)

Number of Hedge Fund Holders: 42

Splunk Inc. (NASDAQ:SPLK) delivered impressive financial results for its fiscal first quarter and an upbeat sales outlook for the full year. As a result, its shares jumped over 5 percent in the pre-market trading session on Thursday, May 26, 2022.

The software company reported an adjusted loss of 32 cents per share, narrower than analysts’ average estimate for a loss of 74 cents per share. In addition, Splunk Inc. (NASDAQ:SPLK) posted revenue of $674.08 million, up 34.3 percent versus last year and ahead of the expectations of $628.75 million.

For its fiscal year 2023, Splunk Inc. (NASDAQ:SPLK) now expects revenue of $3.3 – $3.35 billion versus its previous outlook of $3.25 – $3.3 billion. The revised guidance is better than analysts’ average estimate of $3.27 billion.

Discussing the results, CEO Gary Steele said:

“Splunk is still very early in a massive market opportunity. As our continued growth and strong customer retention demonstrate, we are the system-of-record for our customers and one that’s deeply embedded within their organization’s security and IT operations.”

2. Snowflake Inc. (NYSE:SNOW)

Number of Hedge Fund Holders: 81

Shares of Snowflake Inc. (NYSE:SNOW) plummeted to a new 52-week low in the pre-market trading session on Thursday, May 26, 2022, following a mixed financial performance for its fiscal first quarter and a weak sales outlook for the current quarter.

Snowflake Inc. (NYSE:SNOW) reported a loss of 53 cents per share, compared to a loss of 70 cents per share in the year-ago period. On the contrary, analysts were looking for earnings of 1 cent per share.

On the positive side, Snowflake Inc. (NYSE:SNOW) posted revenue of $422.37 million, representing a surge of 85 percent over the same period of 2021. It was also higher than the consensus of $412.76 million. Moreover, product revenue for the quarter jumped 84 percent to $394.4 million, accounting for nearly 84 percent of the total sales.

Looking forward, Snowflake Inc. (NYSE:SNOW) expects to generate product revenue in the range of $435 – $440 million for its fiscal second quarter, below analysts’ average estimate of $466.15 million.

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 102

Shares of NVIDIA Corporation (NASDAQ:NVDA) turned red in the pre-market trading session on Thursday, May 26, 2022, following a muted sales outlook for the current quarter. The graphics processors giant projected revenue of about $8.1 billion for its fiscal second quarter, below the expectations of $8.45 billion.

The weak outlook also overshadowed NVIDIA’s better-than-expected results for its fiscal first quarter. NVIDIA Corporation (NASDAQ:NVDA) posted adjusted earnings of $1.36 per share for the three months ended May 1, well above 91 cents per share for the comparable period of 2021. Revenue for the quarter climbed 46 percent versus last year to $8.29 billion. The results easily surpassed the consensus of $1.29 per share for earnings and $8.12 billion for revenue.

NVIDIA Corporation (NASDAQ:NVDA) also released its segment-wise sales results. Its data center revenue skyrocketed 83 percent to $3.75 billion, gaming revenue climbed 31 percent to $3.62 billion, and professional visualization revenue soared 67 percent to $622 million in the quarter. The only downside was the automotive and robotics segment, which generated revenue of $138 million, down 10 percent on a year-over-year basis.

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Disclosure: None. 11 Stocks Drawing Attention on Quarterly Results is originally published on Insider Monkey.