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June 05, 2023
MongoDB, Inc., Elastic N.V., Broadcom and other stocks published their quarterly earnings. Here's what you need to know.
Markets are currently flat. Dow Jones slipping 0.44% and closing at 33,600. Nasdaq trades sideways at 13,259.
3Rd quarter earnings season is mostly over, with Aurora Cannabis Inc. & Science Applications International Corporation releasing their earnings reports just this week.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Though markets were flat, stocks have released their quarterly earnings reports. Take a look.
MongoDB: mixed results
MongoDB, Inc. reported earnings results Thursday, with EPS at -1.15 and revenues at $368.28 million; these results are mixed when compared to a consensus of 0.19 Earnings Per Share and $347.15 million revenue. Since the release of its earnings report, MongoDB, Inc. gained 31.89%.
After closing at $376.3 Friday, MongoDB began today at $379.22 with significant bullish sentiment driving MongoDB's price action higher. So far today, price action has drawn out a distinct $376 to $392.3 range.
The past 3 months have been positive for the software company as it added 71.78% compared to its 3-month low of $137.35. So far this year, it has been beating the Nasdaq by 75.72%. The company is currently trading with a market cap of $27.33 billion with an average daily volume of 2.29 million shares.
Elastic: mixed results
Elastic reported inconclusive earnings results Thursday, with EPS at -0.64 and revenues at $279.94 million. Since the release of its earnings report, Elastic lost 0.25%.
Although Elastic increased from $72.29 to $73, the stock dropped back and is now priced at $72.64.
After hitting an important low of $47.94 approximately 4 months ago, the self-managed SaaS provider has bounced back 50.79% since. So far this year, it has performed better than the Nasdaq by 22.57%. Currently, the US-Dutch search company has a market capitalization of $7 billion with an average daily trading volume of 1.26 million shares.
Broadcom: mixed results
Broadcom reported earnings results Thursday; with EPS at 8.39 and revenues at $8.73 billion, these results are mixed compared to a consensus of 10.08 Earnings Per Share and $8.71 billion revenue. Since the release of its earnings report, Broadcom lost 0.8%.
After dipping down to $794.48 today, the semiconductors design company is recovering but is not yet all the way back to $812.
The semiconductors design company now trading 28.33% above its 3-month low of $427.1. The Nasdaq has been doing worse in 2022, it has been passing it by 25.16%. The semiconductors design company's market cap currently stands at $334.16 billion with an average daily trading volume of 3.72 million shares.
ChargePoint Holdings: mixed results
ChargePoint Holdings reported ambiguous earnings results Thursday, with EPS at -0.26 and revenues at $130 million. Since the release of its earnings report, ChargePoint Holdings lost 9.1%.
The electric vehicle infrastructure company is recovering some losses, but is not all the way back to $9.07, after dipping down to $8.66 today.
