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PagerDuty’s software solutions help companies pinpoint technical problems and address them as quickly as possible. PD, which went public last April, has seen its stock price soar over 140% since mid-March and it topped our first quarter estimates in early June.
On Call
PagerDuty’s central pitch to both clients and investors is that it will act as the “central nervous system for your digital ecosystem.” The company helps analyze digital signals from software-enabled systems in order to help firms identify problems and outages in real-time, which allows for quick and decisive actions to be taken.
The ability to address technical issues both internally and customer facing is critical to companies big and small during an age where a firm’s digital infrastructure has to be operating as close to 100% as possible 24/7. Along with helping discover and solve incidents such as customer complaints, PagerDuty empowers businesses to capitalize on opportunities like spikes in traffic.
PagerDuty has racked up some big-name clients like Allstate, Shopify, Zoom, DropBox and more, and it closed fiscal 2020 with over 12,700 customers. Meanwhile, its full-year revenue jumped 41%, and investors should note that it’s part of the larger DevOps market that is projected to jump from $3.4 billion in 2018 to $10.3 billion by 2023.
First Pandemic Quarter & Other Fundamentals
PagerDuty topped our Q1 fiscal 2021 revenue estimate on June 4 and reported a smaller-than-projected quarterly loss.
The company cut its adjusted loss from -$0.22 in Q1 FY20 to -$0.04 a share. PD’s revenue climbed 33% to reach $49.8 million for the period ended on April 30. The firm also reached over 13,000 total customers, and now boasts 348 customers with annual recurring revenue over $100,000, up 44% from the year-ago period.
Shares of PD are up nearly 30% since June 11 and 140% since mid-March to top stay-at-home standout Zoom’s 125%, as well as Amazon’s 60% and Netflix’s 50%. PagerDuty stock has now climbed roughly 33% in 2020, against its industry’s 16%.
Despite the run, PD shares rest 45% below their highs of nearly $55 a share last June, at $31. Therefore, the stock could have plenty of more room to run.
Plus, it’s trading at a far more reasonable forward sales multiple at 10.8X forward 12-month Zacks sales estimates, compared to its year-long high 22.7X. Clearly, its improved valuation picture is partly a function of its lower share price, but the P/S discount is larger and brings it closer to its industry’s 8.4X average.
PagerDuty’s balance sheet is also solid, having closed the quarter with $351 million in cash, equivalents, and current investments against $159 million in total liabilities. PD also currently holds a “B” grade for Growth and an “A” for Momentum in Style Scores system and its industry rests in the top 16% or our more than 250 Zacks industries.
Bottom Line
PagerDuty’s second quarter FY21 revenue is projected to climb 26%, based on our current Zacks estimates. Peeking ahead, the firm’s full-year fiscal 2021 sales are expected to jump another 25%, with FY22 set to climb 22% higher to come in at $252.5 million.
The digital operations management company is also expected to continue to post smaller adjusted losses and its positive earnings revisions help it grab a Zacks Rank #1 (Strong Buy) right now. Therefore, investors might want to take a chance on PagerDuty, given that its services are likely to remain mission-critical for years to come.
Newell Brands revenue fell in 2018 and 2019 and its first quarter fiscal 2020 sales dipped nearly 8%. On top of that, NWL stock has tumbled over 70% in the past three years and its near-term outlook might not help the consumer goods company turn things around.
The Basics
Newell is a consumer goods firm with a vast and diverse portfolio that includes Paper Mate, Coleman, Rubbermaid, Yankee Candle, and more. The current company was formed after a merger between Newell Rubbermaid and Jarden Corporation back in 2016.
NWL’s sales have dropped in the last few years as it tries to navigate the quickly changing retail landscape that has Wall Street and shoppers increasingly focused on e-commerce and new brands born in the social media age. The firm’s sales slipped 9% in 2018 and another 4.3% last year.
Worse still, Newell shares began to plummet in the summer of 2017—roughly one year after the merger—when they were trading at over $50 per share. NWL closed regular trading Friday, June 19 at $15.87 per share, down 70% from those 2017 highs. Newell stock is also still down 20% in 2020 despite having surged nearly 50% since the market’s March 23 lows to outpace its industry’s 37% expansion.
Investors should note that Newell announced in March 2019 that its chief executive would step down amid its struggles and activist investor pressure. The consumer goods firm then announced last July that Ravi Saligram would take over as CEO, effective in October 2019. NWL stock did experience a roughly three-month post-announcement boost, but the turn around is hardly underway just yet.
Outlook
Looking ahead, our current Zacks estimates call for Newell’s second quarter sales to sink 8.7% from the year-ago period. This would come in worse than Q1’s nearly 8% downturn. That said, its full-year fiscal 2020 revenue is only expected to dip 2.2%. And Newell’s FY21 sales are projected to come in 4.3% above our current-year estimate.
However, its bottom-line outlook appears far worse this year, with its adjusted second quarter earnings projected to fall 71% to hit $0.13 per share. This decline, coupled with a nearly 50% expected downturn in Q3 is estimated to push its adjusted full-year EPS figure down by over 38%.
Si Newell’s 2021 earnings are projected to jump 25% higher, but this would still come in below 2019’s figure. We can also see that its earnings revisions have trended heavily in the wrong direction, with Q2 down 67% and FY20 over 23% below where it rested 60 days ago.
Bottom Line
Newell’s negative earnings revisions help it hold a Zacks Rank #5 (Strong Sell) right now, alongside its “F” grade for Value and “D” for Momentum in our Style Scores system. It is worth pointing out that Newell’s dividend yield comes in at 5.80%, to blow away the S&P 500’s 1.88% average. But the impressive yield is largely a function of its poor stock price performance.
Additional content:
3 Stocks That Beat the Pandemic Are Still Going Strong
Wall Street has clearly recovered from its lowest point on Mar 23, although volatility remains. The three major indexes have gained some ground after the economy started reopening in all 50 states around the last week of April. However, the recent spike in new cases and hotspots for the highly infectious coronavirus has put a question mark on the financial market’s new-found strength.
At a time like this, one may take a look at the stocks that braved the turbulent markets during the lockdown and yet came out strong, purely on the basis of their operations. After all, trying times like this are all but permanent and these stocks could gain further ahead.
Markets Are Improving But Threats Remain
Taking into consideration the market’s performance over the past seven days, one can see that the three indexes have inched higher. The Dow Jones Industrial Average climbed 2.5%, the S&P 500 index rose 2.8% and the Nasdaq Composite spiked 3.6%.
The indexes’ uptick over the past week was a result of optimism around the Federal Reserve’s long-term outlook on the U.S. economy, a possible infrastructure bill to push the economy and finally more consumer and business activity with a reopened economy.
The Fed decided to keep its federal funds rate unchanged (in a range of 0%-0.25%) till the economy is “on track to achieve its maximum employment and price stability goals.” The current rate is what the central bank came up with in the middle of March, with an aim to battle the public health crisis. The benchmark rates are expected to stay unchanged for the next two and a half years.
Second, per a Bloomberg report, House Democrats on Jun 18 introduced the Moving Forward Act, which is a $1.5 trillion infrastructure bill to boost the economy further in the current scenario. The bill is all set to be voted on before Jul 4 as the Trump Administration considers its own long-awaited infrastructure proposal.
The bill has allocated about $300 billion to build and repair roads and bridges and another $100 billion in transit options.
The bill also makes room for $100 billion for housing, $100 billion for broadband connectivity, $25 billion for clean drinking water and $25 billion for the U.S. Postal Service. To sum up, the bill holds the potential to drive the U.S. economy further ahead for quite some time since construction work usually spans over a long period.
Finally, increased consumer activity clearly paid off in May, given the record rise in retail sales in the month. Retail sales surged as much as 17.7% last month, as shoppers went back to the newly reopened stores. May’s uptick in retail sales was the biggest one-month surge in history, dating as far as 1992.
However, the number of new infections in the country has also increased, especially after the economy reopened. As many as 10 states have witnessed a spike in new cases in this week alone, with Florida showing signs of being the next epicenter.
Keeping the aforementioned factors in mind, it would be prudent to invest in a few stocks that have shown great resilience in terms of facing the pandemic and the lockdown.
3 Stocks to Buy
We have chosen three stocks that have delivered solid price performances over the past three months and could continue to do so, owing to their impressive expected earnings growth rate ahead. All these stocks carry a Zacks Rank #1 (Strong Buy) or #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chegg, Inc. is a distance learning company that offers online education services. Earlier this month, the company acquired a premier global math solver called Mathway for about $100 million to expand its subject coverage and international reach.
In first-quarter 2020, Chegg reported quarterly earnings of 22 cents per share, which beat the Zacks Consensus Estimate of 17 cents. The company’s revenues of $131.59 million also surpassed the Zacks Consensus Estimate by 6.47%.
Chegg’s expected earnings growth rate for the current year is 33%. Shares of the company, which belongs to the Zacks Internet - Software industry, have gained more than 100% over the past three months compared to the industry’s growth of 74.8%. Chegg carries a Zacks Rank #1.
California-based automaker Tesla, Inc. hit the $1000 mark last week after Chief Executive Elon Musk encouraged the company to produce the Tesla Semi, its electric freight truck. The company’s approach to self-driving is a major factor behind its stock’s strength. In addition, Tesla is a major player in the arena of electric vehicles, which, needless to say, are ideal at a time when the world is pushing for clean energy endeavours.
Tesla’s expected earnings growth rate for the current year is more than 100%. Shares of the company, which belongs to the Zacks Automotive - Domestic industry, have gained more than 100% over the past three months compared to the industry’s growth of 98.7%. Tesla carries a Zacks Rank #2.
Electronic document company DocuSign, Inc. has gained significantly from the sudden adoption of the work-from-home trend amid the pandemic. This change in business situation around the world led to a strong demand for the company’s eSignature product.
The company’s quarterly earnings of 12 cents per share beat the Zacks Consensus Estimate of 11 cents. Its revenues of $297.02 million for the quarter surpassed the Zacks Consensus Estimate by 5.05%.
DocuSign’s expected earnings growth rate for the current year is 54.8%. Shares of the company, which belongs to the Zacks Technology Services industry, have gained more than 100% over the past three months compared to the industry’s 49.9% growthriod. DocuSign carries a Zacks Rank #2.
5 Stocks to Soar Past the Pandemic: In addition to the companies you learned about above, we invite you to learn about 5 cutting-edge stocks that could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of the decade.
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.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
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 http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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PagerDuty, Newell Brands, Chegg, Tesla and DocuSign as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – June 22, 2020 – Zacks Equity Research highlights PagerDuty (PD - Free Report) as the Bull of the Day and Newell Brands (NWL - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Chegg, Inc. (CHGG - Free Report) , Tesla, Inc. (TSLA - Free Report) and DocuSign, Inc. (DOCU - Free Report) .
Here is a synopsis of all five stocks:
Bull of the Day:
PagerDuty’s software solutions help companies pinpoint technical problems and address them as quickly as possible. PD, which went public last April, has seen its stock price soar over 140% since mid-March and it topped our first quarter estimates in early June.
On Call
PagerDuty’s central pitch to both clients and investors is that it will act as the “central nervous system for your digital ecosystem.” The company helps analyze digital signals from software-enabled systems in order to help firms identify problems and outages in real-time, which allows for quick and decisive actions to be taken.
The ability to address technical issues both internally and customer facing is critical to companies big and small during an age where a firm’s digital infrastructure has to be operating as close to 100% as possible 24/7. Along with helping discover and solve incidents such as customer complaints, PagerDuty empowers businesses to capitalize on opportunities like spikes in traffic.
PagerDuty has racked up some big-name clients like Allstate, Shopify, Zoom, DropBox and more, and it closed fiscal 2020 with over 12,700 customers. Meanwhile, its full-year revenue jumped 41%, and investors should note that it’s part of the larger DevOps market that is projected to jump from $3.4 billion in 2018 to $10.3 billion by 2023.
First Pandemic Quarter & Other Fundamentals
PagerDuty topped our Q1 fiscal 2021 revenue estimate on June 4 and reported a smaller-than-projected quarterly loss.
The company cut its adjusted loss from -$0.22 in Q1 FY20 to -$0.04 a share. PD’s revenue climbed 33% to reach $49.8 million for the period ended on April 30. The firm also reached over 13,000 total customers, and now boasts 348 customers with annual recurring revenue over $100,000, up 44% from the year-ago period.
Shares of PD are up nearly 30% since June 11 and 140% since mid-March to top stay-at-home standout Zoom’s 125%, as well as Amazon’s 60% and Netflix’s 50%. PagerDuty stock has now climbed roughly 33% in 2020, against its industry’s 16%.
Despite the run, PD shares rest 45% below their highs of nearly $55 a share last June, at $31. Therefore, the stock could have plenty of more room to run.
Plus, it’s trading at a far more reasonable forward sales multiple at 10.8X forward 12-month Zacks sales estimates, compared to its year-long high 22.7X. Clearly, its improved valuation picture is partly a function of its lower share price, but the P/S discount is larger and brings it closer to its industry’s 8.4X average.
PagerDuty’s balance sheet is also solid, having closed the quarter with $351 million in cash, equivalents, and current investments against $159 million in total liabilities. PD also currently holds a “B” grade for Growth and an “A” for Momentum in Style Scores system and its industry rests in the top 16% or our more than 250 Zacks industries.
Bottom Line
PagerDuty’s second quarter FY21 revenue is projected to climb 26%, based on our current Zacks estimates. Peeking ahead, the firm’s full-year fiscal 2021 sales are expected to jump another 25%, with FY22 set to climb 22% higher to come in at $252.5 million.
The digital operations management company is also expected to continue to post smaller adjusted losses and its positive earnings revisions help it grab a Zacks Rank #1 (Strong Buy) right now. Therefore, investors might want to take a chance on PagerDuty, given that its services are likely to remain mission-critical for years to come.
Bear of the Day:
Newell Brands revenue fell in 2018 and 2019 and its first quarter fiscal 2020 sales dipped nearly 8%. On top of that, NWL stock has tumbled over 70% in the past three years and its near-term outlook might not help the consumer goods company turn things around.
The Basics
Newell is a consumer goods firm with a vast and diverse portfolio that includes Paper Mate, Coleman, Rubbermaid, Yankee Candle, and more. The current company was formed after a merger between Newell Rubbermaid and Jarden Corporation back in 2016.
NWL’s sales have dropped in the last few years as it tries to navigate the quickly changing retail landscape that has Wall Street and shoppers increasingly focused on e-commerce and new brands born in the social media age. The firm’s sales slipped 9% in 2018 and another 4.3% last year.
Worse still, Newell shares began to plummet in the summer of 2017—roughly one year after the merger—when they were trading at over $50 per share. NWL closed regular trading Friday, June 19 at $15.87 per share, down 70% from those 2017 highs. Newell stock is also still down 20% in 2020 despite having surged nearly 50% since the market’s March 23 lows to outpace its industry’s 37% expansion.
Investors should note that Newell announced in March 2019 that its chief executive would step down amid its struggles and activist investor pressure. The consumer goods firm then announced last July that Ravi Saligram would take over as CEO, effective in October 2019. NWL stock did experience a roughly three-month post-announcement boost, but the turn around is hardly underway just yet.
Outlook
Looking ahead, our current Zacks estimates call for Newell’s second quarter sales to sink 8.7% from the year-ago period. This would come in worse than Q1’s nearly 8% downturn. That said, its full-year fiscal 2020 revenue is only expected to dip 2.2%. And Newell’s FY21 sales are projected to come in 4.3% above our current-year estimate.
However, its bottom-line outlook appears far worse this year, with its adjusted second quarter earnings projected to fall 71% to hit $0.13 per share. This decline, coupled with a nearly 50% expected downturn in Q3 is estimated to push its adjusted full-year EPS figure down by over 38%.
Si Newell’s 2021 earnings are projected to jump 25% higher, but this would still come in below 2019’s figure. We can also see that its earnings revisions have trended heavily in the wrong direction, with Q2 down 67% and FY20 over 23% below where it rested 60 days ago.
Bottom Line
Newell’s negative earnings revisions help it hold a Zacks Rank #5 (Strong Sell) right now, alongside its “F” grade for Value and “D” for Momentum in our Style Scores system. It is worth pointing out that Newell’s dividend yield comes in at 5.80%, to blow away the S&P 500’s 1.88% average. But the impressive yield is largely a function of its poor stock price performance.
Additional content:
3 Stocks That Beat the Pandemic Are Still Going Strong
Wall Street has clearly recovered from its lowest point on Mar 23, although volatility remains. The three major indexes have gained some ground after the economy started reopening in all 50 states around the last week of April. However, the recent spike in new cases and hotspots for the highly infectious coronavirus has put a question mark on the financial market’s new-found strength.
At a time like this, one may take a look at the stocks that braved the turbulent markets during the lockdown and yet came out strong, purely on the basis of their operations. After all, trying times like this are all but permanent and these stocks could gain further ahead.
Markets Are Improving But Threats Remain
Taking into consideration the market’s performance over the past seven days, one can see that the three indexes have inched higher. The Dow Jones Industrial Average climbed 2.5%, the S&P 500 index rose 2.8% and the Nasdaq Composite spiked 3.6%.
The indexes’ uptick over the past week was a result of optimism around the Federal Reserve’s long-term outlook on the U.S. economy, a possible infrastructure bill to push the economy and finally more consumer and business activity with a reopened economy.
The Fed decided to keep its federal funds rate unchanged (in a range of 0%-0.25%) till the economy is “on track to achieve its maximum employment and price stability goals.” The current rate is what the central bank came up with in the middle of March, with an aim to battle the public health crisis. The benchmark rates are expected to stay unchanged for the next two and a half years.
Second, per a Bloomberg report, House Democrats on Jun 18 introduced the Moving Forward Act, which is a $1.5 trillion infrastructure bill to boost the economy further in the current scenario. The bill is all set to be voted on before Jul 4 as the Trump Administration considers its own long-awaited infrastructure proposal.
The bill has allocated about $300 billion to build and repair roads and bridges and another $100 billion in transit options.
The bill also makes room for $100 billion for housing, $100 billion for broadband connectivity, $25 billion for clean drinking water and $25 billion for the U.S. Postal Service. To sum up, the bill holds the potential to drive the U.S. economy further ahead for quite some time since construction work usually spans over a long period.
Finally, increased consumer activity clearly paid off in May, given the record rise in retail sales in the month. Retail sales surged as much as 17.7% last month, as shoppers went back to the newly reopened stores. May’s uptick in retail sales was the biggest one-month surge in history, dating as far as 1992.
However, the number of new infections in the country has also increased, especially after the economy reopened. As many as 10 states have witnessed a spike in new cases in this week alone, with Florida showing signs of being the next epicenter.
Keeping the aforementioned factors in mind, it would be prudent to invest in a few stocks that have shown great resilience in terms of facing the pandemic and the lockdown.
3 Stocks to Buy
We have chosen three stocks that have delivered solid price performances over the past three months and could continue to do so, owing to their impressive expected earnings growth rate ahead. All these stocks carry a Zacks Rank #1 (Strong Buy) or #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chegg, Inc. is a distance learning company that offers online education services. Earlier this month, the company acquired a premier global math solver called Mathway for about $100 million to expand its subject coverage and international reach.
In first-quarter 2020, Chegg reported quarterly earnings of 22 cents per share, which beat the Zacks Consensus Estimate of 17 cents. The company’s revenues of $131.59 million also surpassed the Zacks Consensus Estimate by 6.47%.
Chegg’s expected earnings growth rate for the current year is 33%. Shares of the company, which belongs to the Zacks Internet - Software industry, have gained more than 100% over the past three months compared to the industry’s growth of 74.8%. Chegg carries a Zacks Rank #1.
California-based automaker Tesla, Inc. hit the $1000 mark last week after Chief Executive Elon Musk encouraged the company to produce the Tesla Semi, its electric freight truck. The company’s approach to self-driving is a major factor behind its stock’s strength. In addition, Tesla is a major player in the arena of electric vehicles, which, needless to say, are ideal at a time when the world is pushing for clean energy endeavours.
Tesla’s expected earnings growth rate for the current year is more than 100%. Shares of the company, which belongs to the Zacks Automotive - Domestic industry, have gained more than 100% over the past three months compared to the industry’s growth of 98.7%. Tesla carries a Zacks Rank #2.
Electronic document company DocuSign, Inc. has gained significantly from the sudden adoption of the work-from-home trend amid the pandemic. This change in business situation around the world led to a strong demand for the company’s eSignature product.
The company’s quarterly earnings of 12 cents per share beat the Zacks Consensus Estimate of 11 cents. Its revenues of $297.02 million for the quarter surpassed the Zacks Consensus Estimate by 5.05%.
DocuSign’s expected earnings growth rate for the current year is 54.8%. Shares of the company, which belongs to the Zacks Technology Services industry, have gained more than 100% over the past three months compared to the industry’s 49.9% growthriod. DocuSign carries a Zacks Rank #2.
5 Stocks to Soar Past the Pandemic: In addition to the companies you learned about above, we invite you to learn about 5 cutting-edge stocks that could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of the decade.
See the 5 high-tech stocks now>>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
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 http://www.zacks.com/performance for information about the performance numbers displayed in this press release.