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The Zacks Analyst Blog Highlights: Tesla, Spotify Tech, Square and Fitbit
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For Immediate Release
Chicago, IL – May 3, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Tesla (TSLA - Free Report) , Spotify Tech (SPOT - Free Report) , Square Inc. (SQ - Free Report) and Fitbit .
Here are highlights from Wednesday’s Analyst Blog:
Tech-Heavy Q1 Earnings Challenge After-Market: TSLA, SQ, SPOT, FIT
After a slight close in the red during regular-day trading Wednesday, fresh earnings reports hit the tape. Unfortunately, for the most part these sent late-day trading into selloff territory, as well. If earnings beats were still maintained, weaker guidance was often the culprit:
Zacks Rank #3 (Hold)-based Tesla outperformed expectations in its Q1 earnings report released after the closing bell Wednesday. A loss on the bottom line of $3.35 per share was slightly better than the -$3.37 expected (though still down 150% year over year). Quarterly sales of $3.41 billion blew past the $3.17 billion in the Zacks consensus. Company stock had been trading down $10 per share year over year, and after-market trading is taking TSLA up around 1.5%.
Tesla reported Q1 cash liquidity at $2.7 billion, better than many analysts had expected. Capital expenditures of $3 billion wound up lower than the $3.1 billion. Both of these numbers indicate that Tesla has gotten a handle, somewhat, on its cash burn. This is especially important based on the company's past history, as well as its ramp-up of Model 3 cars to market. Tesla delivered 2270 Model 3s a week during three weeks in April, with an eye on delivering 5K Model 3s per week in the next couple months.
The question is, will Tesla raise cash again to accomplish this? Many analysts think so, and it would appear this will be a main focus on the company's conference call coming up -- and with CEO Elon Musk, these are usually pretty entertaining. For more on TSLA's earnings, click here.
Music streaming service Spotify Tech reported its initial earnings report after the closing bell, posting in-line Monthly Active Users (MAU) to 170 million, with 75 premium (subscription-based) users. Guidance for Q2 MAU is between 175-180 million, though analyst consensus had been 179 million. Earnings of -1.01 euros per share on EUR 1.14 billion. SPOT stocks are selling off in late trading, initially -7% and falling from there... For more on SPOT's earnings, click here.
Square Inc. shares are also down in Wednesday's after-market after beating earnings estimates by a penny to 6 cents per share. Gross payment volume in Q1 reached $17.8 billion, up year over year but slipping sequentially. Guidance for Q2 was a little disappointing, as well: earnings of 9-11 cents per share on $355-360 million in quarterly revenues did not inspire late traders. For more on SQ's earnings, click here.
Also, Fitbit disappointed investors in the after hours. The company did beat on top- and bottom-lines -- -17 cents per share on $248 million outpaced the -19 cents and $247 million, respectively -- but guidance was down for Fitbit sales in Q2; in fact the high end of guidance was still below analyst consensus. Shares tumbled double-digits upon the quarterly release. For more on FITB's earnings, click here.
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.
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>.
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.
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/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Tesla, Spotify Tech, Square and Fitbit
For Immediate Release
Chicago, IL – May 3, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Tesla (TSLA - Free Report) , Spotify Tech (SPOT - Free Report) , Square Inc. (SQ - Free Report) and Fitbit .
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Wednesday’s Analyst Blog:
Tech-Heavy Q1 Earnings Challenge After-Market: TSLA, SQ, SPOT, FIT
After a slight close in the red during regular-day trading Wednesday, fresh earnings reports hit the tape. Unfortunately, for the most part these sent late-day trading into selloff territory, as well. If earnings beats were still maintained, weaker guidance was often the culprit:
Zacks Rank #3 (Hold)-based Tesla outperformed expectations in its Q1 earnings report released after the closing bell Wednesday. A loss on the bottom line of $3.35 per share was slightly better than the -$3.37 expected (though still down 150% year over year). Quarterly sales of $3.41 billion blew past the $3.17 billion in the Zacks consensus. Company stock had been trading down $10 per share year over year, and after-market trading is taking TSLA up around 1.5%.
Tesla reported Q1 cash liquidity at $2.7 billion, better than many analysts had expected. Capital expenditures of $3 billion wound up lower than the $3.1 billion. Both of these numbers indicate that Tesla has gotten a handle, somewhat, on its cash burn. This is especially important based on the company's past history, as well as its ramp-up of Model 3 cars to market. Tesla delivered 2270 Model 3s a week during three weeks in April, with an eye on delivering 5K Model 3s per week in the next couple months.
The question is, will Tesla raise cash again to accomplish this? Many analysts think so, and it would appear this will be a main focus on the company's conference call coming up -- and with CEO Elon Musk, these are usually pretty entertaining. For more on TSLA's earnings, click here.
Music streaming service Spotify Tech reported its initial earnings report after the closing bell, posting in-line Monthly Active Users (MAU) to 170 million, with 75 premium (subscription-based) users. Guidance for Q2 MAU is between 175-180 million, though analyst consensus had been 179 million. Earnings of -1.01 euros per share on EUR 1.14 billion. SPOT stocks are selling off in late trading, initially -7% and falling from there... For more on SPOT's earnings, click here.
Square Inc. shares are also down in Wednesday's after-market after beating earnings estimates by a penny to 6 cents per share. Gross payment volume in Q1 reached $17.8 billion, up year over year but slipping sequentially. Guidance for Q2 was a little disappointing, as well: earnings of 9-11 cents per share on $355-360 million in quarterly revenues did not inspire late traders. For more on SQ's earnings, click here.
Also, Fitbit disappointed investors in the after hours. The company did beat on top- and bottom-lines -- -17 cents per share on $248 million outpaced the -19 cents and $247 million, respectively -- but guidance was down for Fitbit sales in Q2; in fact the high end of guidance was still below analyst consensus. Shares tumbled double-digits upon the quarterly release. For more on FITB's earnings, click here.
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>>
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks 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/performance for information about the performance numbers displayed in this press release.