In this article, we will take a look at the 10 stocks trending after releasing their earnings reports.
Notable tech companies, including DocuSign, Inc. (NASDAQ:DOCU), CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and Oracle Corporation (NYSE:ORCL), recently came into the limelight after posting their earnings reports.
If we look at their price actions, DocuSign stock plunged sharply after its weak sales outlook overshadowed its better-than-expected results for Q4. On the other hand, CrowdStrike shares jumped over 12 percent following its solid quarterly performance. In addition, Oracle stock also turned green despite missing earnings expectations for its fiscal third quarter.
Several other companies, including electric vehicle maker Rivian Automotive, Inc. (NASDAQ:RIVN) and Chinese e-commerce giant JD.com, Inc. (NASDAQ:JD), were also seen making big moves following their financial results.
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Stocks Trending After Releasing Their Earnings Reports
10. LegalZoom.com, Inc. (NASDAQ:LZ)
Number of Hedge Fund Holders: 18
LegalZoom.com, Inc. (NASDAQ:LZ) recently announced better-than-expected earnings for the fourth quarter. However, its quarterly sales fell short of expectations, sending its shares down to an all-time low in the after-hours trading session on Thursday, March 10, 2022.
The online legal technology company reported adjusted earnings of 2 cents per share, contrary to analysts’ average estimate for a 1 cent per share loss. In addition, LegalZoom.com, Inc. posted revenue of $142.1 million, up 16 percent versus last year but behind the consensus of $143.71 million.
If we look at the sales performance of its flagship segments, transaction revenue for the quarter rose 8 percent to $56.5 million, while subscription revenue jumped 29 percent to $80.7 million in the quarter. On the downside, partner revenue fell 35 percent to $4.9 million.
Looking forward, LegalZoom.com, Inc. expects revenue in the range of $150 – $152 million for the first quarter and between $650 and $660 million for the full year.
9. FuelCell Energy, Inc. (NASDAQ:FCEL)
Number of Hedge Fund Holders: 20
Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) jumped nearly 10 percent on Thursday, March 10, 2022, despite posting mixed financial results for its fiscal first quarter. The Connecticut-based fuel cell company reported a loss of 11 cents per share, narrower than 15 cents per share in the year-ago period.
Revenue for the quarter came in at $31.8 million, representing a massive surge of 114 percent from the same period last year. Analysts were expecting FuelCell Energy, Inc. to report a loss of 5 cents per share on revenue of $26.3 million.
FuelCell Energy, Inc. also disclosed its segment-wise sales performance. Its generation revenue climbed 53 percent to $7.5 million, service agreements revenue fell 56 percent to $2.2 million and advanced technologies contract revenue declined 19 percent to $4.1 million in the quarter. In comparison, product revenue came in at $18 million, accounting for nearly 57 percent of the total sales.
Like FuelCell Energy, Inc., investors are also closely observing DocuSign, Inc., CrowdStrike Holdings, Inc. and Oracle Corporation, following their earnings reports.
8. United Natural Foods, Inc. (NYSE:UNFI)
Number of Hedge Fund Holders: 21
Shares of United Natural Foods, Inc. (NYSE:UNFI) recently fell to a nearly six-month low after posting its fiscal second-quarter profit below expectations. The Rhode Island-based food wholesaler earned $1.13 per share on an adjusted basis, slightly below the consensus of $1.14 per share.
Revenue for the quarter increased 7.5 percent on a year-over-year basis to $7.416 billion, beating analysts’ average estimate of $7.15 billion. United Natural Foods, Inc. attributed the higher sales to solid demand from existing and new retailers.
Moving forward, United Natural Foods, Inc. raised its fiscal 2022 revenue outlook to a range of $28.2 – $28.7 billion versus its previous projection between $27.8 – $28.3 billion. In addition, the company continues to expect adjusted earnings in the range of $3.90 – $4.20 per share for the same period.
Commenting on the results, CEO Steven L. Spinner said in a statement:
“Our strong second-quarter results demonstrate that UNFI continues to execute at a high level as we again leveraged strong year-over-year sales increases into even stronger bottom-line growth.”
7. Asana, Inc. (NYSE:ASAN)
Number of Hedge Fund Holders: 31
Shares of Asana, Inc. (NYSE:ASAN) plummeted more than 22 percent on Thursday, March 10, 2022, despite beating financial expectations for its fiscal fourth quarter. The San Francisco-based work management platform reported an adjusted loss of 25 cents per share, compared to a loss of 22 cents per share in the same period last year.
In addition, Asana, Inc. posted revenue of $111.9 million for the quarter, up 64 percent on a year-over-year basis. The results were better than analysts’ average estimate for a loss of 28 cents per share and revenue of $105.2 million.
Among other updates, Asana, Inc. reported that its paying customers exceeded 119,000 at the end of the quarter. In addition, the number of customers spending $5,000 or more on an annual basis surged to 15,437 in the fourth quarter, representing a jump of 52 percent over the same period last year.
Asana, Inc. also issued the financial outlook for its fiscal year 2023. It guided for an adjusted loss in the range of 36 – 35 cents per share and revenue between $114.5 – $115.5 million.
Like Asana, Inc., DocuSign, Inc., CrowdStrike Holdings, Inc. and Oracle Corporation, also came into the spotlight after posting their financial results.
6. Ulta Beauty, Inc. (NASDAQ:ULTA)
Number of Hedge Fund Holders: 37
Shares of Ulta Beauty, Inc. (NASDAQ:ULTA) turned green in the pre-market trading session on Friday, March 11, 2022, following an upbeat financial performance for its fiscal fourth quarter and impressive outlook for the full year.
Ulta Beauty, Inc. reported earnings of $5.41 per share, topping expectations of $4.57 per share. Revenue for the quarter rose 24.1 percent on a year-over-year basis to $2.7 billion, just ahead of the consensus of $2.69 billion.
Looking forward, Ulta Beauty, Inc. expects earnings in the range of $18.20 – $18.70 and revenue between $9.05 – $9.15 billion for its fiscal year 2022. The outlook is above analysts’ average estimate of $17.18 per share for earnings and $8.59 billion for revenue.
5. Rivian Automotive, Inc. (NASDAQ:RIVN)
Number of Hedge Fund Holders: 47
Shares of Rivian Automotive, Inc. fell to an all-time low in the pre-market trading session on Friday, March 11, 2022, after announcing lower-than-expected financial results for its fiscal fourth quarter.
Rivian Automotive, Inc. reported a loss of $2.43 per share, narrower than a loss of $3.51 per share in the same period last year. However, it was wider than analysts’ average estimate for a loss of $1.97 per share. In addition, the quarterly revenue of $54 million also fell below the consensus of $60 million.
Looking forward, Rivian Automotive, Inc. expects to produce 25,000 vehicles in the current fiscal year. But at the same time, the company warned that supply chain disruptions could affect its production operations in the current fiscal year.
Addressing shareholders in a letter, Rivian Automotive, Inc. said:
“Through the first half of Q1 2022, we experienced several headwinds and other factors impacting our production ramp, including a planned 10-day shutdown to fine-tune our production lines, significant supply chain limitations, a large spike in COVID-19 cases likely attributable to the Omicron variant, and severe winter weather in Central Illinois. Like the rest of the industry, we anticipate supply chain challenges to persist through 2022.”
4. DocuSign, Inc. (NASDAQ:DOCU)
Number of Hedge Fund Holders: 49
Shares of DocuSign, Inc. crashed in the pre-market trading session on Friday, March 11, 2022, following its disappointing sales outlook for the current quarter and full year.
DocuSign, Inc. expects revenue in the range of $579 – $583 million for its fiscal first quarter and between $2.47 – $2.48 billion for the full year. The outlook missed the consensus of $596 million for Q1 and $2.61 billion for fiscal 2022.
The weak outlook also overshadowed the better-than-expected performance of DocuSign, Inc. for its fiscal fourth quarter. The company reported adjusted earnings of 48 cents per share for the quarter, compared to 37 cents per share in the same period last year.
Revenue for the quarter jumped 35 percent on a year-over-year basis to $580.8 million. Analysts were expecting DocuSign, Inc. to earn 47 cents per share on revenue of $561.4 million.
3. Oracle Corporation (NYSE:ORCL)
Number of Hedge Fund Holders: 57
Shares of Oracle Corporation slightly moved up after the opening bell on Friday, March 11, 2022, despite posting mixed financial performance for its fiscal third quarter.
Oracle Corporation reported adjusted earnings of $1.13 per share for the three months ended February 28, 2022, missing analysts’ average estimate of $1.18 per share. Revenue for the quarter rose four percent versus last year to $10.513 billion and matched expectations.
Oracle Corporation also issued its segment-wise sales performance. Its cloud services and license support revenue rose five percent to $7.6 billion, while cloud license and on-premise license revenue inched up one percent to $1.3 billion in the quarter.
Speaking on the results, CTO Larry Ellison said:
“In Q3, Oracle completed development of the multi-cloud version of our MySQL HeatWave open-source database. The MySQL HeatWave database is already running in the Oracle Gen2 Cloud. In a few weeks, MySQL HeatWave will also be available in the Amazon Cloud and the Microsoft Azure Cloud.”
2. JD.com, Inc. (NASDAQ:JD)
Number of Hedge Fund Holders: 67
JD.com, Inc. recently announced a better-than-expected profit for the fourth quarter. However, its quarterly sales fell short of expectations, sending its shares down to a nearly two-year low on Thursday, March 10, 2022.
The Chinese e-commerce giant reported adjusted earnings of 35 cents per share for the quarter, above expectations of 24 cents per share. In addition, JD.com, Inc. posted revenue of $43.29 billion, up 23 percent on a year-over-year basis but marginally below analysts’ average estimate of $43.36 billion.
If we look at the performance of its flagship businesses, product revenue jumped 22.1 percent to $36.83 billion, while net service revenue climbed 28.3 percent to $6.47 billion in the quarter. Among other updates, JD.com, Inc. reported that its annual active customer accounts increased to 569.7 million last year, representing a surge of 20.7 percent over 2020.
Discussing the results, CFO Sandy Xu said:
“During the quarter, we further optimized our operational efficiency through technology and innovation, increasing our competitiveness as well as our ability to support our business partners. In 2022, we will continue to execute our business strategies and focus on sustainable high-quality growth across all of our business lines.”
1. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
Number of Hedge Fund Holders: 74
Shares of CrowdStrike Holdings, Inc. climbed over 12 percent on Thursday, March 10, 2022, after delivering impressive financial results for its fiscal fourth-quarter along with an upbeat outlook.
CrowdStrike Holdings, Inc. reported adjusted earnings of 30 cents per share, significantly higher than 13 cents per share in the year-ago period. Revenue came in at $431 million, well above $264.9 million in the same period last year. The results topped the consensus of 20 cents per share for earnings and $411 million for revenue.
Looking forward, CrowdStrike Holdings, Inc. expects adjusted earnings in the range of 22 – 24 cents per share and revenue between $458.9 – $465.4 million for its fiscal first quarter. The guidance exceeded analysts’ average estimate of 17 cents per share for earnings and $440.3 million for revenue.
Praising the latest financial performance, CEO George Kurtz said:
“CrowdStrike once again delivered an exceptional fourth quarter and capped off a record year, achieving new milestones across both the top and bottom line. Net new ARR of $217 million in the quarter was a new all-time high, driven by expansion of our leadership in the core endpoint market as well as a record quarter for cloud, identity protection and Humio.”
You can also take a peek at Jim Cramer Recommends Selling These 10 Stocks and 10 Undervalued Dividend Kings To Buy In 2022.
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This article is originally published at Insider Monkey.
