Today’s Top Performers
Top stock gainers
Okta (NASDAQ:OKTA) shares rose 24% after its Q4 earnings release above consensus and provided strong outlook for the upcoming quarter. The cybersecurity company reported record Q4 non-GAAP profits and cash flow. Revenue rose 19% Y/Y to $605M, led by 20% subscriber growth. Okta (OKTA) closed the quarter with $3.39B in subscriber backlog, up 13% Y/Y. It predicts Q1 sales of $603M to $605M, over the consensus of $584M, and EPS of $0.54 to $0.55, above $0.41.
Duolingo’s (NASDAQ:DUOL) shares rose 21% after its Q4 results report and forecast exceeded expectations. Total reservations rose 51% Y/Y, with subscription bookings and paying subscribers up 57%. Daily active users (DAUs) jumped 65% Y/Y, while MAUs increased 46%. Duolingo predicts Q1 2024 bookings between $187M and $190M and full-year 2024 bookings between $790M and $802M. Revenues are expected to be $164M to $167M for Q1 2024, compared to $160.43M, and $717.5M to $729.5M for the entire year, compared to $705.83M.
Top stock losses
Snowflake (NYSE:SNOW) shares fell 23% after the business anticipated a severe FY2025 sales deceleration and reorganized management. The data storage provider forecasts FY2025 product sales to rise 22% to $3.25B, down from 38% in FY2024. Product sales is expected to be $745M–$750M in Q1, up 26%–27% Y/Y, with adjusted operating margins around 3%. Sridhar Ramaswamy will succeed Frank Slootman as CEO immediately. Slootman will remain board chairman.
HP Inc. (NYSE:HPQ) shares plummeted 4% after its FQ1 sales report below analysts’ estimates. Personal Systems fell 4% Y/Y, while Printing fell 5%. Consumer printing sales fell 22% and commercial printing revenue down 12% Y/Y. HP forecasts FQ2 EPS of $0.76–$0.86, compared to $0.82 consensus. Compared to $3.39B, HP expects free cash flow of $3.1B to $3.6B in FY2024.
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Today’s Top Performers Today’s Top Performers
Today’s Top Performers Today’s Top Performers