All Reports

Maplebear, doing business as Instacart, (CART; $31.43; E/W) posted Q2 adjusted EBITDA of $208mm (2.5% of GTV), which beat our forecast of $185mm (2.3% of GTV) and the Street’s $187mm (2.3% of GTV). Sales of…

Uber Technologies (UBER; $58.48; O/P) posted Q2 adjusted EBITDA of $1,570mm (3.9% of gross bookings), which beat our forecast of $1,475mm (3.7% of gross bookings) and the Street’s $1,515mm (3.8% of gross bookings). Revenues of…

We modify our 2024 and 2025E adjusted EBITDA for Lucid Group (LCID; $3.00; E/W) from losses of ($2.3B)/($1.9B) to ($2.5B)/($2.1B) after Q2 EBITDA losses of ($648mm) exceeded our estimate of ($525mm), vs. ($598mm) in Q1and…

We raise our adjusted 2024/2025E EBITDA for DoorDash (DASH; $117.23; E/W) from $1,650mm /$2,050mm to $1,850mm/$2,275mm after the company produced a healthy “beat and raise” with Q2 results and outlook. DASH produced Q2 gross order…

We reiterate our Outperform and $65 target on the shares of Nextracker (NXT; $46.83; O/P) after its FQ1 (Jun) print came in substantially ahead of our and Street thinking reflecting still robust demand for its…

We bump up our 2024E EPS for Aptiv (APTV; $73.13; O/P) from $6.25 to $6.35 (+31% YoY) and our 2025E EPS from $7.50 to $7.70 (+21%) after Q2 results beat the Street and the company…

We basically maintain our 2024/2025E EPS for Belden (BDC; $100.52; E/W) at $5.95/$7.00 after its solid Q2, albeit with Q3E guidance that was below our and Street forecasts excluding the just completed acquisition of Precision…

DoorDash (DASH; $108.20; E/W) reported Q2 gross order value (GOV) of $19.7B (+20% YoY), which was ahead of our $19.25B and the Street’s $19.33B, leading to sales of $2,630mm (+5% QoQ and +23% YoY) that…

Nextracker (NXT; $46.83; O/P) reported FQ1 (Jun) adjusted EPS of $0.93, which was handily ahead of our $0.60 and the Street’s $0.64 on much better-than-expected sales of $720mm (+50% YoY), which compared to our $613mm…

We reduce our rating on the shares of Mobileye Global (MBLY; $15.98) from Outperform to Equal-Weight after we badly underestimated near-term risks tied to the Chinese auto market, especially as it relates to multi-national OEMs,…

We bump up our F2025E (Jun) EPS for Western Digital (WDC; $67.05; O/P) from $8.50 to $8.70, including an annualized FQ4 rate of $10.25+, as we also initiate F2026E EPS at $11.50 (+32% YoY), vs….

Aptiv (APTV; $69.39; O/P) reported adjusted Q2 EPS of $1.58, which was ahead of our $1.45 and the Street’s $1.42 despite lower-than-expected sales of $5,051mm (vs. our $5,325mm and the Street’s $5,305mm). As per the…

Mobileye Global (MBLY; $21.00; O/P) reported Q2 adjusted EPS of $0.09, which was ahead of our $0.07 and the Street’s $0.08 on sales of $439mm (-3% YoY and +84% QoQ) vs. our $420mm and the…

Western Digital (WDC; $67.05; O/P) reported FQ4 (Jun) non-GAAP EPS of $1.44 ex-“one time” net charges of $0.56 per share, which was well ahead of our $1.15 and the Street’s $1.18. Recall, WDC’s FQ4 guidance…

We lower our 2024/2025E EPS for Sensata (ST; $38.12; E/W) from $3.75/$4.17 to $3.55/$3.80 after Q2 results that were in line with expectations and Q3E guidance was below our and Street forecasts, albeit with a…