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Stocks on Sale Wednesday: Palantir, Disney, Match, and Twilio
On the day that software firm Palantir (PLTR) posted quarterly results, speculators bid the stock up by over 8%. This set a disappointment and selling pressure when the firm posted earnings that met expectations. However, markets did not appreciate the excessive stock-based compensation and the weaker outlook.
Palantir earned 8 cents a share non-GAAP. Revenue grew by 20.8% Y/Y to $634.33 million. Unfortunately, the company spent $125 million in stock-based compensation. This exceeded the earnings of just $100 million.
Looking ahead, in Q2/2024, its adjusted income from operations is between $209 million to $213 million.
In the entertainment sector, Walt Disney (DIS) revenue of $22.1 billion. Despite issuing an EPS growth target of 25% for the second quarter, DIS stock slumped 9.51% on Tuesday. Shares look cheap after the sell-off but valuations are still too rich. The P/E (GAAP TTM) is 71.37 times, compared to the sector median of 18.75 times.
Online dating service firm Match Group (MTCH) will slump by nearly 6% today. Revenue increased by 9.2% Y/Y to $859.65 million. Additionally, Hinge's direct revenue grew by 50% Q/Q. Match expects revenue to grow by only 6% to 9% in 2024.
Twilio (TWLO) will open below $60, or down by 6.7%. Revenue grew by only 5% Y/Y to $1.05 billion. The firm spends too much on stock-based compensation and investors are not impressed with the pro-forma results.
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