Streetbeat News

Revenues

FTCH

Farfetch has released its financial expectations for FY23, predicting a revenue of approximately $2.5 billion, up from $2.3 billion in 2022. The company also expects a Group GMV of $4.4 billion, a Digital Platform GMV of $3.85 billion, and a Brand Platform GMV of $0.45 billion. The Digital Platform Order Contribution Margin is expected to rise to 33-35%, and the company anticipates a positive Adjusted EBITDA Margin up to 1%, improving from -5% in 2022.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 8:08 pm

RRGB

Red Robin Gourmet Burgers (RRGB) has reiterated its forecast for FY23 total revenue of at least $1.3 billion, which is in line with the estimated $1.31 billion.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:07 pm

COIN

Coinbase has launched its Layer 2 network, Base, built on Ethereum, which has gained 100,000 users and hosts over $200 million in assets. Needham analyst John Todaro initiated a Buy rating on Coinbase with a price target of $120, citing Base's user-friendly design and innovative projects. However, transitioning between Ethereum and Base can be challenging, and it may take time for it to resonate with the average Coinbase user. Assets linked to Base have crossed the $230 million mark. If Base maintains its current trajectory, Coinbase could earn more than $60 million in annual revenue.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 8:03 pm

PANW

Wedbush has indicated a slight risk for Palo Alto Networks' Q4 billings and revenues to miss expectations. There is also a reasonable risk for FY24E Billings and FCF guide to be below current Street estimates.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 7:22 pm

TSLA

Tesla is reportedly planning to launch a rental program in Texas, according to a Teslarati report. This move could potentially increase Tesla's market share and revenues in the region.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 5:55 pm

ACI

AMZN

KR

WMT

Walmart Inc (WMT) is intensifying its competition with Amazon.com Inc (AMZN) in the e-commerce sector, with its Walmart+ service gaining traction as a rival to Amazon Prime. Walmart+ saw a 15% increase in membership in July, and its transactions are growing faster than Amazon's, potentially indicating a shift in expenditure from other grocery companies like Kroger Co (KR) and Albertsons Co Inc (ACI). Walmart's e-commerce revenue in the U.S. grew to 11%-12% over the last two years.

Portfolio Pulse from Anusuya Lahiri

August 17, 2023 | 5:41 pm

APPF

J.P.Morgan analyst Alexei Gogolev initiated coverage on AppFolio Inc (NASDAQ:APPF) with an Overweight rating and a price target of $200. The analyst believes APPF is an attractive play in the U.S. real estate market amid high-interest rates and increased vacancies from newly constructed residential properties. APPF posted Q2 FY23 revenues of $147.1 million, beating the consensus of $143.8 million, and EPS of $0.23, beating the consensus of $0.12.

Portfolio Pulse from Lekha Gupta

August 17, 2023 | 5:38 pm

PLCE

Children's Place reported better-than-expected Q2 financial results and issued Q3 and FY23 revenue guidance above estimates, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 4:07 pm

GLBE

SHOP

Global-E Online Ltd (NASDAQ:GLBE) provides end-to-end services for cross-border e-commerce. The company has been growing at a 70-100% YoY pace for a couple of years, but this is slowing down. In 2022, revenues grew by 66%, and in the first two quarters of 2023, revenues grew in the 50s. The company has a strategic partnership with Shopify, which owns 13.5% of Global-e. The company is profitable and has generated free cash flow for several years. A DCF model values Global-e at $58 per share, which is 60% higher than its current trading price.

Portfolio Pulse from Jacob Engel

August 17, 2023 | 3:14 pm

AHI

Advanced Health Intelligence has announced that it has obtained overseas R&D reimbursement under the Australian Research and Development Tax Incentive Scheme. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 3:13 pm