5 Stocks in the Limelight After Releasing Their Financial Results

In this article, we discuss the 5 stocks in the limelight after releasing their financial results. If you want to read our detailed analysis of these companies, go directly to the 11 Stocks in the Limelight After Releasing Their Financial Results.

5. monday.com Ltd. (NASDAQ:MNDY)

Number of Hedge Fund Holders: 25

monday.com Ltd. (NASDAQ:MNDY) recently delivered a better-than-expected financial performance for the first quarter and raised its sales outlook for the full year. Yet, the company’s shares slipped nearly five percent on Monday, May 16, 2022, following the results.

The Israel-based software firm reported an adjusted loss of 96 cents per share, compared to an adjusted loss of 63 cents per share in the year-ago period. In addition, monday.com Ltd. (NASDAQ:MNDY) posted revenue of $108.5 million, up 84 percent on a year-over-year basis. The results exceeded analysts’ average estimate for a loss of $1.02 per share and revenue of $101.2 million.

For fiscal 2022, monday.com Ltd. (NASDAQ:MNDY) now expects revenue in the range of $488 – $492 million versus its previous guidance between $470 – $475 million. The updated outlook is above the consensus of $474.5 million.

Discussing the results, CFO Eliran Glazer said in a statement:

“Q1 was another quarter of great execution at monday.com, led by strong demand with larger customers. While growing and scaling the company will remain our top priority, we are equally focused on improving capital efficiency and operating leverage as we move forward.”

4. Global-e Online Ltd. (NASDAQ:GLBE)

Number of Hedge Fund Holders: 28

Shares of Global-e Online Ltd. (NASDAQ:GLBE) hit a new 52-week low in the extended hours on Monday, May 16, 2022, after posting a wider-than-expected loss for the first quarter. The e-commerce solutions provider reported a loss of 35 cents per share, compared to a loss of 8 cents per share in the year-ago period.

Revenue for the quarter jumped 65.4 percent versus last year to $76.32 million. Analysts were expecting Global-e Online Ltd. (NASDAQ:GLBE) to report a loss of 3 cents per share on revenue of $74.98 million.

Global-e Online Ltd. (NASDAQ:GLBE) also trimmed its sales outlook for fiscal 2022. The company now anticipates revenue in the range of $383 – $403 million, compared to its previous projection of $411 – $421 million.

Speaking on the results, CEO Amir Schlachet said:

“The business is performing well across all the key metrics, with many exciting new merchant launches including global mega-brand Adidas, who selected Global-e to support its strategic direct-to-consumer growth plan.”

3. Wix.com Ltd. (NASDAQ:WIX)

Number of Hedge Fund Holders: 29

Shares of Wix.com Ltd. (NASDAQ:WIX) fell over six percent on Monday, May 16, 2022, following its mixed financial results for the first quarter. The cloud-based web development company reported a loss of 72 cents per share on an adjusted basis, wider than analysts’ average estimate for a loss of 64 cents per share.

On the positive side, revenue for the quarter rose 14 percent on a year-over-year basis to $341.6 million and surpassed expectations of $340.6 million. Wix.com Ltd. (NASDAQ:WIX) also released its segment-wise sales results. Its creative subscription revenue jumped 13 percent to $255 million, while business solutions revenue climbed 17 percent to $86.6 million in the quarter.

Looking forward, Wix.com Ltd. (NASDAQ:WIX) expects Q2 revenue in the range of $342 -$346 million, representing a growth of 8 – 10 percent over the same quarter of 2021.

Discussing the results, CFO Lior Shemesh said in a statement:

“Volatility and uncertainty remain elevated creating headwinds to overall revenue growth. We are focused on prudent cost management and driving operational efficiencies, from which we are already beginning to see results, and are instating a plan to achieve 20% FCF margins by 2025.”

2. Take-Two Interactive Software, Inc. (NASDAQ:TTWO)

Number of Hedge Fund Holders: 55

Shares of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) rose more than five percent in the pre-market trading session on Tuesday, May 17, 2022, after beating profit expectations for its fiscal fourth quarter.

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) reported adjusted earnings of $1.09 per share, topping estimates of $1.04 per share. Revenue for the quarter increased 11 percent to $930 million, while net bookings rose 8 percent to $845.8 million.

On the downside, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) issued a weak sales outlook for its fiscal first quarter and full year. The video game publisher expects adjusted revenue in the range of $700 – $750 million for the current quarter and between $3.75 billion to $3.85 billion for its fiscal year 2023. The guidance missed the consensus of $777.9 million for the current quarter and $3.96 billion for the full year.

Speaking on the results, CEO Strauss Zelnick said in a statement:

“In addition to our outstanding financial results, I am pleased that we took pivotal steps to position our organization for the long term by investing in talent, broadening our portfolio further, and agreeing upon our transformational pending combination with Zynga, which has the potential to exponentially increase our Net Bookings from mobile, while also enabling us to deliver substantial cost synergies and revenue opportunities.”

1. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 68

Shares of The Home Depot, Inc. (NYSE:HD) turned green in the pre-market trading session on Tuesday, May 17, 2022, following an upbeat financial performance for the first quarter. The home improvement retailer reported earnings of $4.09 per share, up from $3.86 per share in the comparable period of 2021.

In addition, The Home Depot, Inc. (NYSE:HD) posted revenue of $38.91 billion, up 3.8 percent on a year-over-year basis. The results surpassed analysts’ average estimate of $3.68 per share for earnings and $36.72 billion for revenue.

For fiscal 2022, The Home Depot, Inc. (NYSE:HD) expects its earnings per share to grow in the mid-single digits and revenue to grow about 3 percent.

Praising the results, CEO Ted Decker said in a statement:

“Fiscal 2022 is off to a strong start as we delivered the highest first quarter sales in Company history. The solid performance in the quarter is even more impressive as we were comparing against last year’s historic growth and faced a slower start to spring this year.”

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