10 Stocks in Limelight After Releasing Their Earnings Reports

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

Notable stocks from the technology sector, including Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP) and SentinelOne, Inc. (NYSE: S), recently announced their financial results for the second quarter.

In addition, consumer cyclical stocks such as GameStop Corp. (NYSE: GME) and Lululemon Athletica Inc. (NASDAQ: LULU) were also among the notable companies that released their earnings.

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Most of these stocks made big moves after posting their financial results. We will discuss the detailed performance of these companies in the remaining article. So, without wasting any time, let’s start our list of 10 stocks in limelight after releasing their earnings reports.

10 Stocks in Limelight After Releasing Their Earnings Reports

10. GameStop Corp. (NYSE: GME)

Number of Hedge Fund Holders: 18

GameStop Corp. (NYSE: GME), formerly called Babbage’s, started operating as a small software retailer back in 1984. Barnes & Noble acquired Babbage’s in the late 90s. Later, it merged with video game retailer Funco, which was renamed GameStop in 2000. GameStop went public in 2002 after pricing its shares at $18 apiece. Today, it is a dominant player in the video game and consumer electronics space.

Shares of GameStop Corp. (NYSE: GME) fell nearly 9 percent in the after-hours trading session Wednesday, 8 September 2021, after the video gaming retailer announced mixed financial results for the second quarter.

GameStop Corp. (NYSE: GME) reported an adjusted loss of 76 cents per share, less than the loss of $1.42 per share in the comparable period of 2020. Revenue surged 26 percent on a year-over-year basis to $1.18 billion. Analysts, on average, were looking for a loss of 67 cents per share on $1.12 billion in revenues.

Like GameStop Corp. (NYSE: GME), analysts are also paying attention to Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) after they released their financial results.

9. Campbell Soup Company (NYSE: CPB)

Number of Hedge Fund Holders: 27

Campbell Soup Company (NYSE: CPB) is a leader in the processed foods and snacks market. It recently announced better-than-expected profit and sales for its fiscal fourth quarter. The processed food and snack company reported adjusted earnings of 55 cents per share, down from 63 cents per share in the year-ago quarter.

Analysts, on average, were expecting Campbell Soup Company (NYSE: CPB) to post earnings of 47 cents per share. Revenue for the quarter fell 11 percent on a year-over-year basis to $1.873 billion but surpassed the consensus forecast of $1.809 billion.

CEO Mark Clouse called the performance “a positive finish to a solid year.” Clouse added:

“Our growth in adjusted EPS during fiscal 2021 on comparable organic sales, coupled with our expanded share growth across the majority of our core categories, demonstrated strong performance especially when compared to the significant growth in the prior year. As we head into fiscal 2022, we have robust in-market momentum on our brands, strong plans to manage inflation, and a talented and committed team to lead through what we expect to be a very challenging environment.”

Campbell Soup Company (NYSE: CPB) also released the earnings outlook for its fiscal 2022. It expects adjusted earnings in the range of $2.75 per share to $2.85 per share, almost in line with the consensus forecast of $2.83 per share.

Like Campbell Soup Company (NYSE: CPB), Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S) and Lululemon Athletica Inc. (NASDAQ: LULU) are also in the limelight after releasing their earnings reports.

8. PagerDuty, Inc. (NYSE: PD)

Number of Hedge Fund Holders: 26

Shares of PagerDuty, Inc. (NYSE: PD) rose to their 6-months high after beating expectations for the second quarter. The cloud computing company reported an adjusted loss of 13 cents per share for the quarter, compared to a loss of 4 cents per share in the same period last year.

Revenue came in at $67.5 million, up 33.2 percent from the year-ago quarter. Analysts, on average, were expecting PagerDuty, Inc. (NYSE: PD) to report a loss of 13 cents per share on sales of $65.6 million.

Speaking on the results, CEO Jennifer Tejada said in a statement:

“Our solid topline beat was driven by accelerating demand for both our new Automation offering and our comprehensive Digital Operations plan, especially in the enterprise and mid-market segments. Nearly 18,000 companies now run on our platform and as the world’s greatest enterprises transform into digital leaders, PagerDuty is becoming the Operations Cloud for the modern enterprise.”

Looking forward, PagerDuty, Inc. (NYSE: PD) expects adjusted loss in the range of 39 cents per share to 35 cents per share for its fiscal 2022, compared to the loss of 39 cents per share estimated by analysts. Revenue for the full year is expected to come between $273.0 million and $276.0 million, above the consensus forecast of $270.4 million.

Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) also caught investors’ attention after posting their quarterly results.

7. Hewlett Packard Enterprise Company (NYSE: HPE)

Number of Hedge Fund Holders: 34

Hewlett Packard Enterprise Company (NYSE: HPE) traces its roots back to 1939 when two Stanford University graduates named Bill Hewlett and David Packard founded the company in a Palo Alto garage. Today, it is a leading enterprise technology company, providing its services in servers, storage, and networking areas.

Shares of Hewlett Packard Enterprise Company (NYSE: HPE) fell for two straight days despite reporting its fiscal third-quarter profit above expectations. The company’s adjusted earnings rose 31 percent on a year-over-year basis to 47 cents per share, beating analysts’ average estimate of 42 cents per share.

Revenue inched up 3 percent to $6.9 billion, matching the consensus forecast. If we look at the performance of key segments, storage revenue rose 4 percent to $1.2 billion. In comparison, compute revenue fell 9 percent to $3.1 billion.

CEO Antonio Neri seemed pleased with the results. Neri said in a statement:

“We delivered a very impressive Q3 performance, marked by strong order growth, expanded margins and record free cash flow. I am pleased to see how our differentiated portfolio is resonating with the market, and our edge-to-cloud strategy is driving improved momentum across our businesses.”

Hewlett Packard Enterprise Company (NYSE: HPE) also updated the profit guidance for its fiscal 2021. It expects adjusted earnings in the range of $1.88 – $1.96 per share, up from its previous forecast between $1.82 – $1.94 per share.

Like Hewlett Packard Enterprise Company (NYSE: HPE), analysts are also closely watching Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) after their earnings release.

6. Copart, Inc. (NASDAQ: CPRT)

Number of Hedge Fund Holders: 44

Shares of Copart, Inc. (NASDAQ: CPRT) slightly moved up in the pre-market trading session Thursday, 9 September 2021, after announcing better-than-expected results for its fiscal fourth quarter ended 31 July.

Copart, Inc. (NASDAQ: CPRT) earned $1.03 per share on an adjusted basis, well above 68 cents per share in the year-ago quarter. Revenue came in at $748.6 million, up 42.4 percent from the comparable period of 2020.

Analysts, on average, were expecting Copart, Inc. (NASDAQ: CPRT) to report adjusted earnings of 90 cents per share on revenue of $690.870 million.

Separately, investment management firm mentioned Copart, Inc. (NASDAQ: CPRT) in its Q2 2021 investor letter. Here is what the fund said:

“Many of our companies reported very strong earnings back in April. The market shrugged these off as it pondered how much growth would be sustainable, are inflationary trends transitory, and when interest rates will rise. While a slow-down in the broader economic recovery would hurt our portfolio, I remain positive on our position’s market positioning and longer term trends.

Smartsheet Inc. (NYSE: SMAR), DocuSign, Inc. (NASDAQ: DOCU), Coupa Software Incorporated (NASDAQ: COUP), SentinelOne, Inc. (NYSE: S), and Lululemon Athletica Inc. (NASDAQ: LULU) are also under investors’ radar after releasing their quarterly 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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Disclosure: None. 10 Stocks in Limelight After Releasing Their Earnings Reports is originally published on Insider Monkey.