Enphase is an American company that manufactures micro-inverters and power electrical modules for residential and commercial PV systems. The key to the company’s success is the development of an ASIC that addresses the issues of cost savings and increased integration. We believe that semiconductor shortages could put pressure on Enphase Energy’s business through the end of 2021. However, we see high upside potential for the company’s stock, suggesting that supply chains will begin to recover in 2022. We believe the company’s strategic goals for 2022-2023 are feasible, especially given the move to GaN-based architecture, which can have a profound impact on cost and performance. However, we assume as the main risk that SolarEdge will be able to recapture some of the market share that Enphase Energy has grown in the US in 2020.
Tag: STOCKS & FUNDS
Cloud is a key component of new strategy
We begin coverage of Verint Systems, a leader in the development of IT systems solutions for customer interaction, company expertise, human resources, and data collection and analytics. Verint AI solutions for cloud-based deployments automate and improve the efficiency of enterprise customers’ operational processes. We estimate the fair value of the company’s shares at $ 75.
Facebook doubled profit for the quarter
Facebook in the second quarter doubled its net profit and revenue by 56%. Net income in April-June was $ 10.394 billion, or $ 3.61 per share, compared to $ 5.178 billion, or $ 1.8 per share, received in the same period last year. Revenue increased to $ 29.077 billion from $ 18.687 billion a year earlier, while advertising revenues increased by 56% – to $ 28.58 billion. The market consensus assumed earnings growth to $ 3.04 per share on revenue of $ 27.85 billion.
Nike Doubles Quarterly Revenue
Nike has published excellent financials for its fourth fiscal quarter. Revenue for the quarter ended May 31, 2021 jumped 96% to $ 12.3 billion, up from $ 6.3 billion in the same period a year earlier, when the company’s sales fell sharply amid the spread of the coronavirus pandemic. The company posted net income of $ 1.5 billion, or $ 0.93 per share, versus a net loss of $ 790 million, or $ 0.51 per share, a year earlier. The market consensus assumed the growth of the indicator to the level of $ 0.51 per share on revenue of $ 11.03 billion.
Microsoft reported a record net profit and revenue
Microsoft posted record-breaking net income and revenues for fiscal 2021 that ended June 30, which far surpassed market consensus. The company’s net profit rose 38% to $ 61.27 billion, adjusted profit increased 37% to $ 60.65 billion. Revenue increased 18% to $ 168.1 billion. In the fourth fiscal quarter, net income jumped 47% – to $ 16.458 billion, or $ 2.17 per share, compared with $ 11.202 billion, or $ 1.46 per share received in the comparable period of the previous year. Quarterly revenue increased by 21% and reached $ 46.152 billion against $ 38.033 billion a year earlier. The market expected the company’s quarterly earnings of $ 1.92 per share on revenue of $ 44.22 billion.
FedEx Reports Record Profit
FedEx Corp. received a record net profit for the fourth quarter of fiscal year 2021. The company’s March-May net income was $ 1.87 billion, or $ 6.88 per share, compared with a net loss of $ 334 million, or $ 1.28 per share, for the comparable period last year. Earnings excluding one-off factors rose to $ 5.01 per share from $ 2.53. Revenue rose to $ 22.6 billion from $ 17.4 billion a year earlier. Market analysts had forecast FedEx’s adjusted earnings of $ 5.02 per share on $ 21.5 billion in revenue.
FDA Approves Intelligent Knee Implant
Zimmer Biomet Holdings announced that the FDA has approved Persona IQ, which will enable ZBH to launch the world’s first intelligent implant that can completely replace the knee joint. Persona IQ will be a significant addition to ZBEdge ZBH’s growing portfolio, contributing to the expected acceleration in Kneefranchise’s revenue growth
DraftKings Will Maintain Its Leadership Position
Following the release of the quarterly results, we have raised our estimate of the company’s revenues for fiscal 2021, reflecting strong first quarter financial results and higher management forecasts. With a conservative outlook for estimated 2H21 earnings, continued legalization of sports betting in individual states and the takeover of betting technology provider SBTech.