For Immediate Release
Chicago, IL – August 08, 2017 – Today, Zacks Investment Ideas feature highlights Features: Nvidia (NASDAQ:NVDA – Free Report), Zillow (NASDAQ:ZG – Free Report), Snap Inc (NYSE:SNAP – Free Report) and The Trade Desk (NASDAQ:TTD – Free Report).
Tech Earnings This Week
I scanned the list of earnings from the tech sector that are coming this week. I see 194 different tech stocks reporting next week.
The biggest name on the list is Nvidia (NASDAQ:NVDA – Free Report) but don't let that chip stock blind you to the others like Zillow (NASDAQ:ZG – Free Report), Snap Inc (NYSE:SNAP – Free Report) and others.
The China contingent will be well represented by JD, NTES, WB and SINA all expected to report this week.
My Pick
One name that I will be looking closely at is The Trade Desk (NASDAQ:TTD – Free Report). The company has only reported three times but all three were beats. The two most recent beats also saw guidance increases as well. TTD is up 97% year to date
Importantly, the company has beaten the top line estimate in each of the three reports, which tells me that the analysts are not fully up to speed on how this company is bringing in sales.
Big Seller
Back in June, Wellington Management disclosed that the lowered their passive stake in the company to 5.29% which is down from 9.1%. That is a significant amount of shares and there is a real chance that the company lowers its stake below the 5% threshold which would end its requirement to make 13G/D filings in this stock.
There were plenty of speculation that Wellington was behind the follow on offering that took place in late May in which the company sold 4.3M shares at $52.
Targets
Following the most recent beat and raise quarter, analysts adjusted their price targets. Cantor Fitzgerald upgraded the stock to overweight and moved their target to $55 from $40. RBC moved their target to $56 from $45 and Needham liked that number as well hiking their target by $8. Jefferies is the biggest bull in the name with a price target of $57.
August 10
The company is slated to report after the close on August 10. Analysts are expecting revenue of $68M and EPS of $0.18.
This might be a little early to look at the implied straddle, but I see the options market calling for a move of 13% in the stock. Last quarter the implied move was 12% but the stock soared more than 30% after posting a big beat and raise.
Free Tech Newsletter
Let’s face it, there is simply too much information to process on your own. I know the feeling as this article only had earnings recaps from 3 stocks. Just imagine how great it would be if there was a weekly email that gave you a recap of many of the big stories in tech for the week. Pretty soon, that will be a reality so I want to invite you to get in on the action before the first issue even comes out! Sign up for our upcoming Free Tech Newsletter.
Sign up for our upcoming Free Tech Newsletter.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
Get the full Report on NVDA - FREE
Get the full Report on ZG - FREE
Get the full Report on SNAP– FREE
Get the full Report on TTD - FREE
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: Nvidia, Zillow, Snap and The Trade Desk
For Immediate Release
Chicago, IL – August 08, 2017 – Today, Zacks Investment Ideas feature highlights Features: Nvidia (NASDAQ:NVDA – Free Report), Zillow (NASDAQ:ZG – Free Report), Snap Inc (NYSE:SNAP – Free Report) and The Trade Desk (NASDAQ:TTD – Free Report).
Tech Earnings This Week
I scanned the list of earnings from the tech sector that are coming this week. I see 194 different tech stocks reporting next week.
The biggest name on the list is Nvidia (NASDAQ:NVDA – Free Report) but don't let that chip stock blind you to the others like Zillow (NASDAQ:ZG – Free Report), Snap Inc (NYSE:SNAP – Free Report) and others.
The China contingent will be well represented by JD, NTES, WB and SINA all expected to report this week.
My Pick
One name that I will be looking closely at is The Trade Desk (NASDAQ:TTD – Free Report). The company has only reported three times but all three were beats. The two most recent beats also saw guidance increases as well. TTD is up 97% year to date
Importantly, the company has beaten the top line estimate in each of the three reports, which tells me that the analysts are not fully up to speed on how this company is bringing in sales.
Big Seller
Back in June, Wellington Management disclosed that the lowered their passive stake in the company to 5.29% which is down from 9.1%. That is a significant amount of shares and there is a real chance that the company lowers its stake below the 5% threshold which would end its requirement to make 13G/D filings in this stock.
There were plenty of speculation that Wellington was behind the follow on offering that took place in late May in which the company sold 4.3M shares at $52.
Targets
Following the most recent beat and raise quarter, analysts adjusted their price targets. Cantor Fitzgerald upgraded the stock to overweight and moved their target to $55 from $40. RBC moved their target to $56 from $45 and Needham liked that number as well hiking their target by $8. Jefferies is the biggest bull in the name with a price target of $57.
August 10
The company is slated to report after the close on August 10. Analysts are expecting revenue of $68M and EPS of $0.18.
This might be a little early to look at the implied straddle, but I see the options market calling for a move of 13% in the stock. Last quarter the implied move was 12% but the stock soared more than 30% after posting a big beat and raise.
Free Tech Newsletter
Let’s face it, there is simply too much information to process on your own. I know the feeling as this article only had earnings recaps from 3 stocks. Just imagine how great it would be if there was a weekly email that gave you a recap of many of the big stories in tech for the week. Pretty soon, that will be a reality so I want to invite you to get in on the action before the first issue even comes out! Sign up for our upcoming Free Tech Newsletter.
Sign up for our upcoming Free Tech Newsletter.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>
Get the full Report on NVDA - FREE
Get the full Report on ZG - FREE
Get the full Report on SNAP– FREE
Get the full Report on TTD - FREE
Follow us on Twitter: https://twitter.com/ZacksResearch
Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com/performance
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.