Tag Archives: technology

Abiomed’s Impella Pumps Up Q4 Earnings, But Hot Stock Slows

Cardiac device maker Abiomed ( ABMD ) beat quarterly estimates and guided the current fiscal year above consensus Tuesday, but its elevated stock still slipped in trading. For its fiscal Q4 ended March 31, Abiomed’s sales totaled $94 million, up 39% from the year-earlier quarter and beating analysts’ consensus by about $3 million, according to Thomson Reuters. Earnings fell 14% to 24 cents a share but still beat consensus by 9 cents. The earnings decline in both Q3 and Q4 were due to tough year-over-year comparisons, but analysts expect growth to return in the current quarter and accelerate thereafter. Abiomed supported this with its guidance for the current fiscal year: $430 million to $445 million in sales vs. last year’s $329.5 million, beating consensus of $421 million. It does not provide EPS guidance but said operating margin should be 18% to 20%, which would be flat to slightly below last year’s. The margin guidance might have been a bit below expectations. Leerink analyst Danielle Antalffy had estimated it at 20%, and Thomson Reuters’ consensus for net income was also about 20% of revenue. Abiomed stock was down 2% in midday trading on the stock market today , near 97. The stock had been trading strong lately, with a consistent IBD Relative Strength Rating in the 90s. Shares are up more than 40% since touching a nine-month low in early February. Antalffy still was positive on Abiomed’s report, noting good adoption trends for the company’s Impella heart pump in the percutaneous coronary intervention (PCI) market. “We believe this adoption momentum is under-appreciated by the Street — particularly given what we view as a possibly open-ended market opportunity in protected PCI as previously untreated patients are now increasingly treated — paving the way for consistent “beat and raise” quarters over the near-to-medium term,” Antalffy wrote in her research note.

Priceline Q1 Sales Seen Rising Sharply But Lagging Rival Expedia

A week after its CEO Darren Huston tendered his resignation over an inappropriate-at-work relationship, No. 1 online travel agency Priceline ( PCLN ) is expected Wednesday to report double-digit Q1 sales and earnings growth. The consensus of 30 analysts polled by Thomson Reuters, however, doesn’t foresee Priceline surpassing the growth rate for No. 2  Expedia ( EXPE ), which last week reported respective year-over-year gains of 39% and 31% for sales and earnings before interest, taxes, depreciation and amortization (EBITDA). Priceline’s Q1 earnings are slated to come out before the open Wednesday. In afternoon trading on the stock market today , Priceline stock was down a fraction, near 1,347. Expedia stock was down more than 1%. Priceline stock broke out of a cup-with-handle base at a 1,361.73 buy point on April 18. Priceline is expected to report $2.12 billion in sales, $9.65 earnings per share minus items and $620.6 million EBITDA, up 15%, 19% and 17%, respectively vs. the year-earlier period. Three months ago, Priceline guided to $9-$9.60 EPS ex items and $580 million to $620 million EBITDA. Sales were guided up 9%-16% vs. the year-earlier quarter, or about $2 billion to $2.13 billion. On a year-over-year basis, Priceline expects room-night stays booked and gross bookings to grow 20%-27% and 12%-19%, respectively. Last week, Expedia reported  Q1 room-night stays and gross bookings rising a respective 42% and 32%. Piper Jaffray analyst Michael Olson reiterated his overweight rating and 1,540 price target last week on Priceline stock. Huston’s resignation isn’t “a risk to near-term financials, but it does pose a slight risk of distraction for employees of the company’s Booking.com segment, as well as investors,” he wrote in a research report. Gillian Tans, chief operating officer and president of Booking.com, was tapped to succeed Huston as Booking.com CEO. Booking.com is Priceline’s accommodations-booking website. Priceline Chairman Jeffrey Boyd, former longtime CEO of the company, assumed the role of interim CEO while it searches for a new CEO.

Four Notable Tech Stocks With Earnings After Close Worth Watching

Earnings reports are on tap for Paycom Software ( PAYC ), Rubicon Project ( RUBI ), Zendesk ( ZEN ) and Zillow Group ( ZG ) after the market close Tuesday, and all sport long streaks of double-digit, or higher, sales growth. Earnings reports can often create big stock moves, up or down, depending on whether the company misses or beats Wall Street’s expectations, and whether its outlook for the upcoming quarter and year beat or miss expectations. Paycom is expected to report revenue of $83.4 million, up 51% year over year and maintaining a string of double-digit gains going back more than four years. The consensus on earnings per share minus items is 20 cents, up 67%. Paycom provides a cloud-based employment management platform with a software-as-a-service business model, with customers buying the software as needed. The company came public in April 2014. Paycom has a strong IBD Composite Rating (CR) of 96 and the highest-possible EPS Rating of 99. Credit Suisse analyst Michael Nemeroff has an outperform rating on Paycom stock, and price target of 43. “We believe that Paycom is well positioned to deliver strong revenue growth over the next two years,” Nemeroff  wrote in an earnings preview report. Paycom stock was near 38, down 2.5%, in morning trading in the stock market today . Rubicon Revenue Could Cross At 60% Gain Rubicon Project is expected to report revenue of $59.4 million, up 60% and maintaining double- or triple-digit revenue growth going back more than four years. The EPS consensus minus items is 3 cents, vs. 2 cents last year. Rubicon made its IPO in April 2014. It provides an online platform that helps optimize digital ad buying, selling and placement. The stock has a strong 98 CR and an EPS Rating of 80. RBC Capital Markets analyst Andrew Bruckner rates Rubicon stock outperform, with a price target of 22. Rubicon stock was near 19.70, flat, Tuesday morning. Zendesk Also Growing By Double-Digit Percentages Zendesk is expected to report revenue of $63.9 million, up 51% and maintaining a string of double- and triple-digit revenue growth going back more than four years. The consensus on EPS minus earnings is a 10-cent loss. The company, which came public in May 2014, has yet to show a profit. On Monday, Zendesk announced it hired a new chief financial officer, Elena Gomez, who previously was senior vice president of finance and strategy for Salesforce.com ( CRM ). Zendesk is a cloud-based provider of customer service software. The stock has a CR of 64 and EPS Rating of 46. Rosenblatt Securities analyst Kirk Adams rates Zendesk stock a buy, with a price target of 25. “We anticipate a solid report and positive commentary on the recently completed quarter and their future prospects,” Adams wrote in an earnings preview. Zendesk stock was near 23, down 2%, Tuesday morning. Zillow Seen Swinging To A Loss Zillow Group is expected to report earnings of 176.6 million, up 39% and maintaining double or triple digit growth going back more than four years. The EPS consensus is a 9-cent loss, swinging from a 5-cent profit in the year-earlier quarter. Zillow, the leading real estate website, came public in July 2011. The stock has a CR of 54  and EPS Rating of 50. Cowen analyst Thomas Champion has an underperform rating on Zillow and a price target of 12. Zillow stock was near 25.50, down 2%, Tuesday morning.