Over the next four weeks or so we will get earnings reports from well over half of the companies in the S&P 500.One company that will be reporting is VeriSign (Nasdaq: VRSN), the internet registry and infrastructure firm.
Stoneco (Nasdaq: STNE) debuted on the Nasdaq exchange on October 25, 2018.With the stock coming up on its first anniversary, it just recently hit the lower rail of an upwardly sloped trend channel and it had a bullish signal generated from Tickeron’s Trend Prediction Engine.
Looking at the stock’s daily chart over the past year, it has been rather volatile for investors.
Oracle announced that it would ramp-up hiring to expand footprint in cloud, while Jefferies slashed their price target on the company’s stock.
Oracle plans to open around 20 more cloud data centers by the end of next year - a move that's expected to help customers to safely store data for disaster recovery or to comply with local data storage laws.The expansion could be seen as an effort on Oracle’s part to bolster its presence in the near $40 billion market for cloud computing and storage.
Oracles’ plans to up the ante on its cloud business will create an additional 2,000 jobs in the company, according to Oracle.
Shares of CrowdStrike climbed on Thursday , following a rating upgrade from SunTrust Robinson Humphrey which cited "fastest growth rate at scale" of all the companies it covers.
SunTrust analyst Joel Fishbein increased his rating on the cybersecurity company’s stock to buy from hold. Fishbein kept the price target at $80, which reprsents around 40% upside potential from Wednesday's closing price of $56.63.
In his note to clients, Fishbein emphasized on Crowdstrike’s delivery of “differentiated intelligent agent technology”, Threat Graph database using sophisticated models and behavior analytics and an expansive set of cloud modules that pertains to a wide variety of security use cases.
Shares of Progress Software shares declined Friday, after the company reported revenue that fell short of estimates.
The business applications maker’s third-quarter adjusted earnings came in at 75 cents, higher than the year-ago quarter's 55 cents.
Non-GAAP revenue for the quarter increased +25% to $115.5 million, which is lower than the Street estimate of $111 million.
For the fourth quarter, Progress Software has predicted non-GAAP earnings of 73 cents to 75 cents a share on revenue of $116 million to $119 million a share.Analysts had forecasted revenue of $123.2 million.
For the full year, Progress Software is expecting non-GAAP earnings to range between $2.63 and $2.65 a share, and revenue to come in between $425 million and $428 million.
Chief financial officer Paul Jalbert mentioned that the company expects its $225 million acquisition of Ipswich (completed in May) to bring in substantially all of the $15 million of cost synergies by the end of 2019 - which would be we
Blackberry shares fell Tuesday, after the company reported weaker-than-expected revenue for its fiscal second quarter.
The smartphone maker reported a loss of -10 cents a share for its fiscal second quarter, wider than the year-ago quarter’s -4 cents loss a share.
On an adjusted basis, the company had breakeven per-share earnings, compared to -1-cent loss expected by analysts polled by FactSet.
Blackberry’s revenue for the quarter increased to $244 million (from $210 million), falling short of the $268 million expected by analysts.
Looking ahead, BlackBerry has predicted total company non-GAAP revenue growth in the range of 23% to 25% for fiscal 2020, on expected double-digit percentage growth in year-over-year billings.
Tech giant Oracle (NYSE: ORCL) surprised investors earlier this month when it reported earnings a day earlier than expected.All of this information was a lot for investors to digest and in the end, they sold the stock.
The stock closed at $56.29 on September 11 and Oracle made the announcements after the closing bell that day.
Additionally, the company announced that its co-CEO Mark Hurd is taking a medical leave of absence. The news led to a sudden, sharp -5.29% decline in Oracle shares in after-hours trading Wednesday.
The cloud tech/software company’s adjusted earnings for the latest reported quarter came in at 81 cents a share, in line with estimates compiled by FactSet.The earnings per share are higher than the year-ago quarter’s 71 cents a share.
Revenue of $9.2 billion, however, was a bit lower than analysts’ expectation of $9.3 billion.
Santa Clara-based Palo Alto Networks (NYSE: PANW) reported earnings on September 4.The overall reaction from investors was a positive one as the stock jumped when it opened for trading on September 5.
Looking at the weekly chart for Palo Alto, we see that the stock was trading just above its 104-week (two years of data) moving average and just above a trend line that connects the lows from the last three years.
Crowdstrike reported its fiscal second-quarter loss that was narrower than analysts' estimates, thanks to strength in recurring subscriptions of its cloud-based security systems.
The cloud-based cybersecurity company’s non-GAAP net loss came in at - 18 cents a share, which was better than analysts’ forecasted loss of -23 cents a share (based on FactSet survey of analysts).The loss was also smaller than the year-ago quarterly loss of -69 cents a share.
Revenue of $108.1 million was slightly below the $111.1 million expected by analysts.
Subscription revenue surged to $97.6 million in the quarter, from the prior year quarter’s $49.2 million.
CEO George Kurtz cited customer growth acceleration for CrowdStrike's cloud-native Falcon platform as a major reason behind the improving performance in the quarter.
Looking ahead, Crowdstrike expects its full-year fiscal 2020, to incur a non-GAAP net loss of between $93.5 million and $97.9 million, (or between -62 cents and -65 cents a sh
Online payment solution provider Square, Inc (NYSE: SQ) has pulled back over the last four or five weeks and the stock gapped lower after its most recent earnings report.The company beat on both the top and bottom line, but investors were disappointed with the forecast.
The stock gapped sharply lower after the earnings report and it continued down for a few weeks after the report.
Box reported fiscal second quarter earnings that surpassed expectations, and the company also boosted its full year revenue guidance.
The cloud content management company’s adjusted earnings per share for the quarter came in at break-even, better than the Street estimates of a loss of -2 cent.The EPS was also higher than the prior year quarter’s -5 cent loss.
Revenue increased +16% from the year-ago quarter to $172.55 million, beating estimates of $169.5 million.
Co-founder and CEO Aaron Levie emphasized that Box focused on and delivered more products to customers, and that the company drove strong add-on product attach rates of more than 80% across six-figure deals in Q2.
For the full year 2020, Box raised its revenue guidance to a range between $690 million and $692 million, compared to previous range of $688 million to $692 million.
The company maintained its full-year adjusted EPS projection of between break-even and +2 cents.
However, the company’s guidance for the October quarter fell behind the Street’s estimates.
The cloud-based identity and access management company reported a quarterly loss of -5 cents per share, faring better than analysts’ estimate of a loss of -11 cents a share.According to the company, it had a total of 1,222 customers with annual contract value above $100,000 as of last quarter.
NetApp shares climbed on Monday, after receiving a rating upgrade and a price target hike from Cowen.
Analysts at Cowen boosted their rating on the hybrid cloud data services/management company’s stock to market perform from underperform.They indicated that NTAP's leadership in hybrid cloud purpose-built storage systems and data management software should help the company generate low-single digit revenue growth and high-single digit EPS growth through 2020. They also praised NetApp’s “industry-leading profitability and capital return to shareholders”.
In October, it replaced former President Mark Anderson with former Google executive Amit Singh.According to The Information, former senior vice president and general manager of Americas sales Patrick Blair also left earlier this year.
Sprint Corp. incurred a fiscal first quarter loss, but that’s what the Street has been expecting.
The telecommunications behemoth’s loss for the three months ending in June came in at -3 cents per share, compared to positive earnings of 4 cents per share in the year-ago quarter.
Revenues from wireless business declined -3% year over year to $5.3 billion.
The company also got a rating upgrade from analysts at J.P. Morgan.
The cloud technology company’s second-quarter earnings came in at of 20 cents a share, higher than analysts’ expectation of 12 cents a share.Revenue increased +27% year-over-year to $77.4 million, close to analysts’ estimates.
What’s more, analysts at J.P. Morgan upgraded Five9 stock to overweight from neutral, while also increasing their price target on the shares to $70 from $59.
Square shares climbed Friday, following optimistic outlook from a Citi analyst.
Citi analyst Peter Christiansen re-iterated a buy rating on the mobile payment/financial services company.
This follows Tuesday’s rating upgrade by Raymond James analyst John Davis, to market perform - a significant change from Davis’ bearish stance in January.
Citi analyst Christiansen appreciated Square's business debit card potential in his sanguine view on the company.
Microsoft shares climbed Thursday, after Cowen & Co. initiated coverage on the company with an outperform rating and a $150 target price.
Cowen analyst Nick Yako indicated that by fiscal 2025, Microsoft can boost its revenue by $100 billion since it is well-positioned in markets like cloud technology and software-as-a-service.
According to Yako’s estimates, the tech giant would grow its annual earnings by roughly 15% from fiscal 2020 to fiscal 2025.
Cowen’s $150 price target on Microsoft stock represents around 8% upside potential.
Square shares climbed on Tuesday, following a rating upgrade by Raymond James analysts.
Raymond James analysts raised their rating on the financial services/mobile payment company to market perform from underperform.Analyst John Davis said that his short thesis from late January has mostly played out, and he is now optimistic on Square’s business-to-business seller card and believes that it could lead to above-expectations performance in H2 2019.
Davis also indicated that while Square's performance has fallen behind peers over the last couple of quarters due to disappointing second-quarter guidance, the headwinds for the company have now receded.