Friday’s Headlines: Peloton Sales Jump 232%

Friday’s Headlines: Peloton Sales Jump 232%

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Coupa Software (COUP) +12.8%

Nautilus (NLS) +10.0%

MercadoLibre (MELI) +9.3%

Eventbrite (EB) +9.1%

Stitch Fix (SFIX) +7.3%

Moving Down ⬇️

Paycom (PAYC) -6.1%

Retail Opportunity Investments Corp (ROIC) -2.2%

2U (TWOU) -1.6%

Ulta Beauty (ULTA) -1.4%

Idexx Laboratories (IDXX) -0.3%

1. Peloton (PTON) shares fell 7% after-hours, despite the company reporting on yet another blow-out quarter. The bike-maker company added 1.33 million connected subscribers in Q3 and reported quarterly revenue of $757.9 million. Management now expects to hit $1 billion in revenue by the end of 2020, yet the market seemed displeased with the warnings “supply constraints for the foreseeable future.” The company is struggling to keep up with orders as demand increases due to gym closures worldwide. Get the official press release here.

2. Coupa Software (COUP) shares skyrocketed yesterday by 13% as it announced that Walmart is expanding its use of the software. The retail giant, who already uses Coupa software to source third-party spending, will use it to ‘enhance Walmart’s visibility into its global spend’ and to update its processes for finding and working with suppliers. As retail companies adjust strategies during the pandemic, cloud software businesses have been able to make e-commerce more efficient. The agreement comes just days after Coupa Software announced its $1.5 billion acquisition of Llamasoft. Check out the full story here

3. What better time to become profitable than in the middle of an election, within a pandemic? Roku (ROKU) earned $0.09 a share on sales of $451.7 million in the third quarter, versus expectations of a loss of $0.40 per share on revenue of $367.8 million. Shares jumped by 4% in after-hours trading following heavy investment in international expansion boosted its user accounts to 46 million. The brand-agnostic streaming service is only going to get bigger as lockdowns continue worldwide and streaming services such as Netflix and Disney vie for space. Roku's CFO Steve Louden stated the pandemic has caused a lasting change in how marketers think ‘about their TV ad spend.’ Read the full report here

Some more earnings from last night: (BILL)

The Palo Alto-based company beat Wall Street expectations with a loss per share of $0.16 on revenue of $46.2 million. Losses, adjusted for one-time gains and costs, came to 4 cents per share. “We experienced strong demand for our platform as customers embraced our broader offering of payment methods. We are excited about the increasing adoption of our platform throughout our diversified go-to-market ecosystem,” said CEO René Lacerte. Read the official press release here.

Booking Holdings (BKNG)
The world’s leading online travel company reported revenue of $2.6 billion for its third quarter, a reduction of 48% year-over-year. EPS was $12.27, down 73% versus the prior year, while reported room rates were down 43% year-over-year in Q3, an improvement from the 87% decrease it experienced in Q2 this year. Booking Holdings said it is making progress in reducing its staff by up to 25%, saving the company an annual saving of up to $300 million. Read the full press release here. 

Cloudflare (NET)
Cloud is King and Cloudflare confirmed it with its Q3 earnings, reporting revenue of $114.2 million, beating Wall Street’s analyst’s consensus forecast of $103.2 million. The online travel company had a loss of $0.02 a share, versus a loss of $0.05 expected. The cloud-based networking service added ‘100 net large enterprise customers’ in Q3 bringing the company’s total customers to 3.2 million, of which 100,000 are paying users. Cloudflare forecasts revenue of $118 million for the quarter ending in December. Read the full press release here. 

Chuy's (CHUY)
The Tex Mex restaurant chain reported revenue of $2.8 million and $0.14 per share, compared to a loss of $1.8 million or $0.11 a share in the same time period last year. Chuy’s remains hopeful for the future and stated ‘that based on the steps we’ve taken at the onset of this pandemic, we are standing on a solid financial footing and continue to aggressively navigate this COVID environment.’ Read the full press release here. 

Eventbrite (EB)
With Lady Corona still at large, was Eventbrite ever going to wow us? Not in Q3 anyway, after the event management firm topped conservative estimates to report a loss of $0.21 per share, or $19.4 million. There is some light on the horizon for Eventbrite as event organizers begin adapting to the reality of COVID, with management reporting a surge in online hosted events using Eventbrite software. However, without more live events soon, it’s hard to see much upside. Read more here.  

Evolent Health (EVH)
It was a mixed quarter for the healthcare software provider, with revenues up more than 20% from the year-ago period but losses widening too. CEO Seth Blackley seemed upbeat about the company’s performance, however, citing the addition of new partners in the quarter bring the total up to eight in 2020 as reason to be cheerful. Read more here

GoPro (GPRO) 
Down, but not out, GoPro reported that its third-quarter net income was $3.31 million or $0.02 per share, compared to a loss of $74.81 million or $0.51 per share in the prior year. Though it gave nothing away in its press release, it’s clear that a renewed focus on subscribers, which surpassed 500,000 last month, as well as strong sales in its HERO9 Black camera are helping to turn things around at the beleaguered camera-maker. Comeback anyone? Read the official press release here

Monster Energy (MNST)
Though still impacted from the effects of COVID-19 on retail and restaurants, Monster Energy reported the highest quarterly net sales in the company’s history last night, rising 9.9% year-on-year to hit $1.25 billion. In particular, management cited growth in e-commerce, club store, mass merchandiser and grocery sales as areas of strong performance, giving the energy drink maker a strong footing with over $1 billion in cash and equivalents. Read more here

Planet Fitness (PLNT)
Unsurprisingly, Planet Fitness continues to struggle under the effects of lockdown, with revenue dropping close to 37% from the same time last year and same-store sales decreasing 5.6%. Despite the fact that 95% of Planet Fitness locations are open, CEO Chris Rondeau said that they are experiencing a glut of pent up cancellation from when most of the locations are closed, but that the company will continue to invest heavily in its digital strategy. Read more here

Square (SQ)
In the same week that PayPal failed to impress investors with earnings forecasts, competitor Square boasted impressive gross profit growth of 59% YoY to $794 million. The driving force behind this growth is Square’s flagship Cash App, which saw gross profit rise 212%, and as more people opt for cashless transactions in the midst of a pandemic, the use of cashless solutions such as Square is only going to increase.  Read its letter to shareholders here.

Take-Two Interactive (TTWO)
The New York-based video game publisher smashed expectations after reporting adjusted EPS of $2 on net bookings (the net amount of gaming products and services sold digitally or physically) of $957.5 million, up from $1.93 a share on net bookings of $950.5 million a year earlier. With the next generation of Sony and Microsoft’s game consoles coming out this month ahead of the holiday period, and global lockdowns ongoing, the future looks promising for game developers. Get the complete report here.

The Trade Desk (TTD)
The Trade Desk (which actually deals in advertising, not stocks), came out with quarterly earnings of $1.27 per share on revenue of $216.11 million, far surpassing its year-ago performance. As usual, this growth is COVID-related, as the company cites the virus’s forcing of companies to take a more deliberate and data-driven approach to advertising after suffering so much disruption back in March and April. Get the press release here

Wynn Resorts (WYNN)
As you might have guessed, pandemics aren’t good for casinos, leading to Wynn Resorts’ non-GAAP loss per share of $7.04, with total revenue down 77.5% year-over-year to $370.45 million. The company is confident that it can bounce back in 2021 thanks to the easing of restrictions in places like Macau — the Las Vegas of Asia — but without anything short of a complete return to pre-COVID life, it’s difficult to see how Wynn can regain profitability in the near-term. Read the official press release here

There is 1 company on the MyWallSt shortlist that will report earnings today. 

Tripadvisor (TRIP)

Get this week’s full calendar here.