All Reports

We raise our 2023E EBITDA for DoorDash (DASH; $85.98; E/W) for a fifth consecutive quarter, from $775mm to $950mm, while increasing 2024E EBITDA from $850mm to $1,100mm after some better than expected Q2 results and…

DoorDash (DASH; $85.98; E/W) reported Q2 sales of $2,133mm (+5% QoQ and +33% YoY), which was ahead of our $2,075mm and the Street’s $2,061mm. At the same time, adjusted EBITDA of $279mm (13.1% of sales)…

On Monday (7/31), Dell Technologies (DELL; $52.94; E/W) introduced a new set of solutions (e.g., IT infrastructure, PCs, professional services) aimed at helping enterprises build Generative AI (GenAI) models on-premises in a quick and secure…

Hyzon Motors (HYZN; $1.95) is scheduled to report Q2 results next Tuesday (8/8 before market). Given that Hyzon is still in “pre-revenue” mode after recently completing a major restructuring of its strategy and operations, we…

We raise our 2023E and 2024E EBITDA for Uber Technologies (UBER; $46.86; O/P) from $3.53B and $5.15B to $3.78B and $5.50B after another “beat and raise” that was fairly impressive across basically all key metrics….

Benchmark Electronics (BHE; $26.51; O/P) produced Q2 results and outlook that demonstrated an ongoing top line growth story, despite macro conditions, that can continue to come with margin expansion, especially when adjusted for the financial…

Uber Technologies (UBER; $49.46; O/P) posted Q2 adjusted EBITDA of $916mm (9.9% of sales), which handily beat our forecast of $837mm (9.1% of sales) and the Street’s $846mm (9.1% of sales). Sales of $9,230mm were…

We once again reduce F2024E (Jun) EPS for Western Digital (WDC; $42.56; E/W), from a loss of ($3.90) to ($6.30) after a slightly better than expected FQ4 (Jun) was accompanied by disappointing guidance. Management seemed to…

Western Digital (WDC; $42.56; E/W) reported FQ4 (Jun) non-GAAP EPS losses of ($1.98) excluding “one time” net charges of $0.29 per share, which compares to our ($2.05) and consensus of ($2.02). Sales of $2.67B were…

Aptiv’s (APTV; $109.51; O/P) Wind River business unit, acquired late last year for $3.5B, announced a strategic partnership today that highlights how the two companies plan to work together to gain automotive software print position,…

We reiterate our Outperform on the shares of ChargePoint (CHPT; $8.59; O/P), which have languished YTD (-10% vs. +37% for NASDAQ) despite improving profitability on still robust top line growth prospects. Along those lines, we…

We adjust 2023/2024E EPS for Mobileye Global (MBLY; $38.01; E/W) from $0.63/$0.90 to $0.73/$0.98 after better Q2 EPS and the company raised 2023E operating profit targets, which was all related to reduced opex in the…

We adjust our F2023E (Sept) EPS for Plexus (PLXS; $98.54; E/W) from $5.40 to $5.58 (+13% YoY) after the company produced a solid FQ3 (Jun) EPS beat while offering up FQ4E (Sept) guidance that was…

The shares of Nextracker (NXT; $44.19; E/W) surged 12% today after it posted a big FQ1 (Mar) beat that further highlighted the solar tracker business’ long-term potential, especially as it “re-makes” its supply chain to…

We reduce F2024E (Jun) EPS for Seagate (STX; $61.46; E/W) from $1.25 to $0.13 after another round of disappointing guidance. On the plus side, management seems to have finally “thrown in the towel” around expectations…