5 Stocks In The Limelight After Releasing Their Quarterly Reports

By U Cast Studios
November 12, 2021

5 Stocks In The Limelight After Releasing Their Quarterly Reports
Image Courtesy Of Aditya Vyas On Unsplash

In this article, we will take a look at the 5 stocks in limelight after releasing their quarterly reports.

Companies from communication services, real estate, technology, consumer cyclical, and healthcare sectors recently released their earnings reports. The Walt Disney Company (NYSE:DIS), Opendoor Technologies Inc. (NASDAQ:OPEN), Marqeta, Inc. (NASDAQ:MQ), Tapestry, Inc. (NYSE:TPR), and Organon & Co. (NYSE:OGN) were among the notable stocks that posted their quarterly reports earlier this week.

This article was written by Fahad Ali Khan and published by Insider Monkey.

Shares of The Walt Disney Company (NYSE:DIS) fell to their lowest price in more than a year after missing expectations. On the other hand, shares of Opendoor Technologies Inc. (NASDAQ:OPEN) and Tapestry, Inc. (NYSE:TPR) closed higher as investors cheered their performance.

We will analyze the detailed financial results of these companies in the remaining article.

Stocks in Limelight After Releasing Their Quarterly Reports

5. Luminar Technologies, Inc. (NASDAQ:LAZR)

Number of Hedge Fund Holders: 21

Shares of Luminar Technologies, Inc. (NASDAQ:LAZR) slipped over three percent in the after-hours trading session on Thursday, 11 November 2021, after announcing mixed financial results for the third quarter.

The autonomous vehicle sensor and software company reported an adjusted loss of 10 cents per share, narrower than the adjusted loss of 22 cents per share in the comparable period of 2020.

Revenue came in at $8 million, translating to a surge of 89 percent on a year-over-year basis. Analysts were expecting Luminar Technologies, Inc. (NASDAQ:LAZR) to report a loss of 10 cents per share on revenue of $8.89 million.

The company also reaffirmed its sales outlook for the full year. Luminar Technologies, Inc. (NASDAQ:LAZR) expects to generate revenue in the range of $30 million to $33 million, in line with the consensus forecast of $31.17 million.

4. Flowers Foods, Inc. (NYSE:FLO)

Number of Hedge Fund Holders: 21

Shares of Flowers Foods, Inc. (NYSE:FLO) rose nearly four percent in the after-hours trading session on Thursday, 11 November 2021, after announcing better-than-expected financial results for the third quarter.

The producer of packed bakery food earned 30 cents per share on an adjusted basis during the quarter, marginally higher than 29 cents per share in the same period last year. Analysts were looking for earnings of 25 cents per share. In addition, Flowers Foods, Inc. (NYSE:FLO) posted revenue of $1.03 billion for the quarter, up 3.9 percent versus last year and above the consensus forecast of $1 billion.

The company also raised its revenue outlook for 2021. Flowers Foods, Inc. (NYSE:FLO) is now anticipating revenue in the range of $4.3 billion – $4.344 billion for the full year, compared to its earlier forecast between $4.256 billion – $4.3 billion.

Like Flowers Foods, Inc. (NYSE:FLO), The Walt Disney Company (NYSE:DIS), Opendoor Technologies Inc. (NASDAQ:OPEN), Marqeta, Inc. (NASDAQ:MQ), Tapestry, Inc. (NYSE:TPR), and Organon & Co. (NYSE:OGN) also gained investors’ attention after posting their quarterly results.

3. Affirm Holdings, Inc. (NASDAQ:AFRM)

Number of Hedge Fund Holders: 25

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) jumped nearly 14 percent on Thursday, 11 November 2021, after posting solid revenue for its fiscal first quarter. The company’s revenue jumped 55 percent on a year-over-year basis to $269.4 million, beating the consensus forecast of $248 million.

On the downside, Affirm Holdings, Inc. (NASDAQ:AFRM) reported a loss of $1.13 per share, wider than analysts’ average estimate for a loss of 30 cents per share. The company had posted a loss of 6 cents per share for the same period last year.

Affirm Holdings, Inc. (NASDAQ:AFRM) also issued the revenue outlook for its fiscal second quarter and FY 2022. It expects to generate revenue in the range of $320 – $330 million during the December quarter. For the full year, it anticipates revenue between $1.225 – $1.25 billion.

Speaking on the results, CEO Max Levchin said in a statement:

“Over the last year, we expanded our network by increasing the number of active merchants on our platform to over 100,000 and more than doubling the number of active consumers. These deep connections and our partnerships with merchants drove growth in GMV, frequency of engagement, and revenue.”

2. Fiverr International Ltd. (NYSE:FVRR)

Number of Hedge Fund Holders: 30

Shares of Fiverr International Ltd. (NYSE:FVRR) rose over three percent on Thursday, 11 November 2021, after delivering impressive financial results for the third quarter. The leading online marketplace for freelance services reported adjusted earnings of 21 cents per share, significantly higher than 13 cents per share in the year-ago quarter.

Analysts were expecting Fiverr International Ltd. (NYSE:FVRR) to report a loss of 1 cent per share. Revenue for the quarter jumped 42 percent versus last year to $74.3 million, beating the consensus forecast of of $72.78 million.

If we look at the key growth drivers, active buyers in the quarter climbed 33 percent on a year-over-year basis to 4.1 million. In comparison, spending per buyer jumped 20 percent versus last year to $234 in the quarter.

Looking forward, Fiverr International Ltd. (NYSE:FVRR) expects revenue in the range of $74.5 – $77.5 million for the fourth quarter, translating to a year-over-year gain of 33 – 39 percent. For the full year, it expects revenue between $292.4 – $295.4 million, representing a growth of 54 – 56 percent versus last year.

Commenting on the quarter, CFO Ofer Katz said:

“Fiverr continues to deliver strong financial results amidst the still uncertain backdrop of the pandemic. The underlying strength and scale of our business, together with secular trends towards digital transformation will drive long-term growth for the company.”

Like Fiverr International Ltd. (NYSE:FVRR), investors are also closely watching The Walt Disney Company (NYSE:DIS), Opendoor Technologies Inc. (NASDAQ:OPEN), Marqeta, Inc. (NASDAQ:MQ), Tapestry, Inc. (NYSE:TPR), and Organon & Co. (NYSE:OGN) after they released their earnings reports.

1. The Wendy’s Company (NASDAQ:WEN)

Number of Hedge Fund Holders: 30

Shares of The Wendy’s Company (NASDAQ:WEN) fell more than seven percent on Wednesday, 10 November 2021, after posting mixed financial results for the third quarter. The Ohio-based fast food restaurant chain reported adjusted earnings of 19 cents per share, unchanged from the last year and just ahead of the consensus forecast of 18 cents per share.

In addition, The Wendy’s Company (NASDAQ:WEN) posted revenue of $470.3 million for the quarter, compared to $452.2 million in the year-ago period. However, it was short of analysts’ average estimate of $470.5 million. Same restaurant sales growth of 3.3 percent also came in below expectations of 4.9 percent growth.

Looking forward, The Wendy’s Company (NASDAQ:WEN) expects adjusted earnings in the range of 79 – 80 cents per share and sales growth between 11 – 12 percent for the full year. This compares to earnings of 82 cents per share and revenue growth of 9.1 percent projected by analysts.

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