Workday posted fiscal fourth-quarter 2022 earnings and revenue that both increased year-over-year. For the quarter ended January 31, 2022, the HR managing cloud-based company’s non-GAAP net income rose to 78 cents per share from 73 cents per share in the year-ago quarter, and exceeded the Zacks Consensus Estimate by 7 cents. Revenues rose to $1,376.1 million from $1,131.7 million in...
Paychex second quarter earnings increased +25% from the year-ago quarter to 91 cents, vs. 80 cents expected by analysts polled by FactSet. Revenue rose +13% to $1.109, compared to the $1.062 billion anticipated by analysts. Looking ahead, the payroll management company now forecasts 2022 EPS growth of 18%-20% and revenue growth of 10%-11%. That's higher than its September forecast for EPS...
Cerner Corp. shares surged Friday , following a Wall Street Journal report that suggested that that Oracle is planning to acquire the electronic medical records company in a $30 billion deal. If the deal goes through, it would be one of the biggest M&A deals of the year. It would also mark the largest acquisition for Oracle – the deal size is reportedly more than 3 times the size of its $10...
Zoom Video posted third quarter earnings that surpassed analysts’ expectations. The video conferencing company’s adjusted earnings for the three months ending October came in at $1.11 per share, above the $1.09 per share expected by analysts polled by Refinitiv. Revenue rose +35% from the year-ago quarter to $1.05 billion also topped analysts’ estimates of $1.02 billion. In the latest...
Shares of RingCentral jumped in after hours trading, following the company’s third quarter results that crushed analysts’ expectations. For the quarter ended Sept. 30, the enterprise cloud-based services company’s non-GAAP net income rose to 36 cents a share from 26 cents in the previous year, exceeding the 33 cents a share expected by analysts polled by FactSet. Revenue climbed +36.5% from...
Shares of McAfee jumped on Friday, following reports of the software security maker’s talks to sell itself to a consortium of private equity firms for more than $10 billion. Bloomberg reported that the company is nearing a deal with private equity firm Advent International, citing people familiar with the matter. According to the report, Permira Crosspoint Capital Partners is also involved in...
HubSpot shares got a price target boost from Bank of America to $900 from $880. The bank maintained its buy rating. BofA analyst Brad Sills is optimistic that HubSpot will report a solid upside to the bank’s estimate of the company's third-quarter revenue and billings growth. The third-quarter earnings report is expected Nov. 4. “We recently completed calls with numerous key ad agency...
Zoom Video Communications shares climbed higher Friday, after Five9 shareholders voted to reject its $14.7 billion takeover bid. The ongoing decrease in Zoom's share price made the all-stock proposed deal less appealing to Five9 shareholders. The deal implied a bid price of $200.28 in early July, but $144.70 when the vote took place last night. Also, Five9 investors were advised to reject the...
Paychex posted its fiscal first quarter earnings and revenue that surpassed analysts' expectations. The human resource and payroll services company’s earnings per share rose +41% from the year-ago quarter to $0.89, well above the $0.80 per share expected by analysts polled by Investing.com. Revenue grew +16% from the year-ago quarter to $1.08 billion, vs. $1.04 billion expected by analysts...
Salesforce.com raised its 2022 revenue guidance, ahead of its annual investor day conference. The cloud company now expects revenues for its 2022 fiscal year in the range of $26.25 billion to $26.356 billion, a modest boost to the August forecasts. For 2023, Salesforce has projected revenue in the range of $31.65 billion to $31.8 billion. It expects a non-GAAP operating margin of around 20%,...
Zoom Video Communications shares rose on Friday, following a report that a shareholder advisory service is recommending Five9 Inc. investors to reject the video-conferencing company's proposed $15 billion acquisition bid. According to a CNBC report, Institutional Shareholder Services will recommend that Five9 shareholders vote against the takeover at a special meeting on September 30. The...
Analysts polled by Refinitiv had expected 82 cents in adjusted earnings per share and $6.66 billion in revenue.
Looking further ahead, Salesforce raised its full fiscal-year 2022 earnings guidance to $4.36 to $4.38 and $26.2 billion to $26.3 billion in revenue.Analysts polled by Refinitiv predicted $3.82 in adjusted earnings per share and $26.01 billion in revenue.
Salesforce revenue forecast includes $530 million from Slack, which is $30 million more than Salesforce had predicted a quarter earlier.
In December, Intuit closed its $3.4 billion acquisition of Credit Karma.
For its fiscal first quarter, Intuit projects revenue growth of approximately 36% to 38%.It expects non-GAAP diluted earnings per share to come in between 94 cents and 99 cents.
For the full fiscal year, Intuit expects revenue of $11.05 billion to $11.2 billion.
Salesforce.com got a price target hike from a JMP analyst. Analyst Patrick Walravens boosted his price target on the cloud-based software company’s shares to $320 a share from $282. Walravens increased his second-quarter revenue estimate to $6.24 billion from $6.23 billion, compared to FactSet consensus of $6.24 billion. The analyst also hiked his earnings expectation to 93 cents a share from...
Lyft reported a narrower second-quarter loss, compared to a year-ago.
The ride-hailing company’s quarterly net loss narrowed to -76 cents a share from -$1.41 a share in the year-earlier quarter.
Revenue more than doubled from the year-ago period to reach $765 million in the quarter.As of June-end, Lyft had 17.1 million active riders, vs. 8.7 million a year earlier.
Last month, Lyft announced a collaboration with Argo AI and Ford to launch at least 1,000 self-driving vehicles in various US cities over the next five years, beginning with Miami and Austin.
Under the agreement, Zoom will pay $85 million and improve its privacy practices.
In April 2020, a class action lawsuit filed in the U.S. District Court for the Northern District of California alleged that Zoom violated user privacy by sharing personal data with Facebook, LinkedIn and Google .( Zoombombing is a practice of hackers displaying inappropriate content such as pornography, during Zoom meetings).
Under the terms of the lawsuit settlement, subscribers would be entitled to 15% refunds on their subscriptions or $25, whichever is the bigger amount.
Atlassian Corp. posted fourth-quarter results that exceeded analysts’ expectations.
The software company incurred a fiscal fourth-quarter loss of - 85 cents per share, compared with a loss of $- $1.56 per share a year ago.
Adjusted earnings for the quarter came in at 24 cents per share, surpassing analyst estimates of 18 cents per share.
Revenue of $559.5 million also topped analysts’ expectations of $471.6 million.The figure is also higher than the year-ago quarter’s $430.5 million.
For the first quarter, Atlassian is expecting adjusted earnings between 38 cents and 39 cents per share, compared to analysts’ forecast of 30 cents per share.
Shares of Zoom Video Communications rose on Monday, after Bank of America made the stock its top pick following its deal to buy Five9.
Analyst Daniel Bartus said that Zoom and Five9 together would be the “strongest UCaaS/CCaaS (unified communications as a service/contact center as a service) combination” in the market.
"While it is early for enterprises to consider UCaaS and CCaaS together, we believe the trend of bundling is increasing and the long-term value of integrating both technologies is attractive," Bartus noted.
Last week, Zoom announced the purchase of Five9 for just under $15 billion.Under the terms of the deal, investors in Five9 will get 0.55 of a Zoom share for each of their holdings, which represents a 12.8% premium to their Friday closing price and a 23 times multiple to Five9's projected 2022 sales of $650 million.
Shopify shares climbed Thursday to touch a record high, following optimistic views from analysts.
Stifel’s Scott Devitt raised his price target on the e-commerce company’s shares to $1,600 from $1,400, while maintaining his buy rating.
Devitt mentioned the company’s “proven track record of creating products and services that generate value for merchants”, and said that he expects the ongoing investments to create monetization improvements as the platform continues to scale.The analyst also indicated that the company’s outlook for the second half of the year is crucial on challenging prior year comparisons during reopening.
Susquehanna Financial Group’s John Coffey boosted his price target on Shopify shares to $1,800 from $1,500, while keeping his positive rating.
Financial asset management firm, Capital Group, has bought a 12.2% stake in business intelligence solutions company MicroStrategy, according to a SEC filing.This purchase gives Capital Group 953,242 shares in MicroStrategy.
MicroStrategy has been amassing the cryptocurrency, thanks to its CEO Michael Saylor’s advocacy of the same.