Computer Task Group (CTG) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
The upward trend in estimate revisions for this information technology staffing company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool — the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Shares of Cloudflare (NET) – Get Report jumped on Friday after the cloud platform provider reported third-quarter results that topped analyst estimates.
The San Francisco company reported a third-quarter adjusted net loss of 2 cents a share, shrunk from a loss of 16 cents in the year-earlier period. Revenue of $114.2 million was up 54% year over year.
Analysts were expecting an adjusted loss of 5 cents a share on revenue of $103.7 million.
In the quarter the company passed $100 million of revenue, crossed 100,000 paying customers, and released more than a dozen new products and features, Chief Executive Matthew Prince said in a statement.
Cloudflare shares at last check jumped 17% to $67.98.
The company expects a fourth-quarter loss of 3 cents to 4 cents a share on revenue of $117.5 million to $118.5 million. Analysts are looking for a 5-cent loss on revenue of $112.2
Computer Programs and Systems (CPSI) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 28.85%. A quarter ago, it was expected that this healthcare information technology company would post earnings of $0.36 per share when it actually produced earnings of $0.39, delivering a surprise of 8.33%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Computer Programs and Systems, which belongs to the Zacks Medical Info Systems industry, posted revenues of $68.33 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 6.31%. This compares to year-ago revenues of $68.70 million. The company has topped consensus revenue estimates four times over the last four quarters.
Shares of exercise technology vendor Peloton slipped in late trading this afternoon even though the company’s fiscal first-quarter results topped Wall Street’s expectations for both revenue and profit per share, and its outlook for the full year was higher.
The company’s total subscriptions at quarter’s end were up 137%, at 1.33 million, Peloton said. It’s paid digital subscriptions rose 382% to 510,000, it said.
Total member count grew to over 3.6 million.
Peloton expects to have 1.63 million total subscriptions by the end of this quarter, it said. For the full year, it projects 2.17 million “or more” Connected Fitness subscriptions. That would be higher than consensus for 2.08 million.
In a letter to shareholders, the company said sales results were “driven by strong Connected Fitness Product sales and continued low Average Net Monthly Connected Fitness Churn of 0.65%.”
Its member engagement, Peloton said, “eased modestly from the prior quarter’s
Paycom Software (PAYC) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this maker of human-resources and payroll software would post earnings of $0.60 per share when it actually produced earnings of $0.62, delivering a surprise of 3.33%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Paycom, which belongs to the Zacks Internet – Software industry, posted revenues of $196.53 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 2.35%. This compares to year-ago revenues of $175.01 million. The company has topped consensus revenue estimates three times over the last four quarters.
(Bloomberg) — Wayfair Inc. reported quarterly financial results that exceeded analysts’ estimates, suggesting the wave of home improvement inspired by the Covid-19 pandemic is lingering.
The Boston-based company, one of the largest online furniture retailers, reported a third-quarter profit of $2.30 a share, excluding certain items. Sales jumped 67% to $3.84 billion, Wayfair said in a statement. Analysts expected earnings of 85 cents a share on revenue of $3.67 billion, according to data compiled by Bloomberg.
The Covid-19 pandemic has forced millions of people to stay home this year. That’s increased purchases of furniture and other home goods as consumers spruce up their living spaces. Furniture has been one of the last retail categories to move online, but the virus has limited access to physical stores and sent millions of new customers to Wayfair’s websites and apps.
(Reuters) – PayPal Holdings Inc beat Wall Street estimates for quarterly revenue and profit on Monday, boosted by a surge in digital payments as COVID-19 lockdowns worldwide drove more businesses online, but it forecast current-quarter profit below expectations.
Shares of the digital payments processor fell more than 6% in extended trade.
For the fourth quarter, PayPal expects adjusted profit to grow in a range of 17% to 18%, below analysts’ estimated growth of about 24%, according to IBES data from Refinitiv.
PayPal Chief Executive Dan Schulman said in a call with analysts that the company was giving a more prudent estimate for the fourth quarter in part because of uncertainty due to the pandemic and its impact on the global
Apple, Alphabet, Amazon, and Facebook reported their third-quarter earnings on Thursday.
These four, along with Microsoft, are the five most valuable publicly traded companies on the S&P 500.
The companies exceeded Wall Street estimates, maintaining strong momentum that boosted revenues in the previous quarter as online business boomed amid the COVID-19 pandemic.
Google and Amazon crushed expectations, while Facebook and Apple squeezed by with earnings just slightly higher than Wall Street predicted.
The earnings were reported as the tech companies were under unprecedented scrutiny from US lawmakers and regulators over their market dominance.
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Google parent company Alphabet reported revenue of $46.17 billion, an increase of roughly 14% year over year. The revenue beat Wall Street estimates, closing what CEO Sundar Pichai called “a strong quarter, consistent with the broader online environment.” The search giant’s stock soared by at least 5% in after-hours trading.
Shares of Alphabet (GOOGL) – Get Report were higher after the parent to the advertising, search and cloud-technology giant Google reported that third-quarter net income rose 59% on 14% higher revenue, both stronger than Wall Street expected.
Alphabet earned $11.25 billion, or $16.40 a share, in the quarter, compared with $7.07 billion, or $10.12 a share, in the year-earlier quarter. Revenue reached $46.17 billion from $40.5 billion.
A survey of analysts by FactSet produced consensus estimates of third-quarter net income of $11.28 a share on revenue of $42.8 billion.
At last check, Alphabet shares were trading 6.3% higher at $1,657. They closed the regular Thursday session up 3.1% to near $1,557.
The revenue figure reflects higher spending from advertisers in search and the video platform YouTube “as well as continued strength in Google Cloud and Play,” said Ruth Porat, chief financial officer of Alphabet and Google, in a
(Reuters) – Activision Blizzard Inc ATVI.O forecast holiday-quarter and full-year profit below Wall Street estimates on Thursday, as competition rose among big-budget videogame makers looking to tap a booming demand from stay-at-home gamers.
Shares of the company, which have risen 30% this year, fell 8% after the bell.
Activision forecast adjusted earnings of 63 cents per share for the fourth-quarter, compared with analysts’ estimate of $1.08. The company raised its full-year earnings forecast to $3.08 per share from $2.87, which came below estimates of $3.30.
The company also raised its annual adjusted sales forecast, betting on strong sales for its upcoming videogame in the blockbuster “Call of Duty” franchise.
“Call of Duty: Black Ops Cold War” is set to release on Nov. 13, following