Movers: EPAM, Etsy, Shopify, Sprouts, Tripadvisor, Wayfair

Barry Adams
05 May, 2022
New York City

EPAM System, Inc surged 13.6% to $354.72 after the tech support services for social media marketing said first quarter revenues rose 50.1% to $1.2 billion but net income decreased 18% to $89.7 million. 

The company also guided second quarter revenues of at least $1.14 billion and diluted earnings per share of at least 73 cents. 

Etsy, Inc plunged 14.8% to $92.80 after the online marketplace reported consolidated gross market sales increased 3.5% to $3.3 billion. 

First quarter revenues increased 5.2% to $579.2 million and net income fell 40.1% to $86.1 million from a year ago. 

Active sellers in the quarter increased 63% to 7.6 million and buyers rose 4.9% to 95.1 million. 

The company guided between $540 million and $590 million revenues in the second quarter and gross marketplace sales between $2.9 billion and $3.2 billion and adjusted operating earnings margin of 25%. 

The Hain Celestial Group dropped 18.2% to $27.46 after the organic food maker reported March quarter revenues rose 2.1% to $502.9 million and net income fell about 30% to $24.5 million from a year ago. 

Earnings per share declined to 24 cents in the quarter compared to 34 cents a year ago. 

The company guided fiscal year fourth quarter 2022 adjusted revenues to increase in low to mid-single digit and adjusted annual net sales to be flat.  

Shopify Inc plunged 17.6% to $399.10 after the online merchant services provider reported lower-than-expected quarterly revenues of $1.2 billion, an increase of 22% from a year ago. 

Monthly recurring revenues increased 17% to $105.2 million.

Adjusted operating earnings were $31.9 million or 3% of revenues in the quarter compared to $210.8 million or 21% of revenues in the quarter a year ago.  

The company also announced plans to acquire San Francisco-based merchant fulfillment services provider Deliverr for $2.1 billion.  

Sprouts Farmers Markets Inc plunged 24% to $23.83 after the organic food retailer said first quarter revenues increased 4% to $1.6 billion and net income increased 6% to $88.3 million. 

Earnings per share increased to 80 cents from 70 cents a year ago. 

The food retailer also said its annual earnings per share, earnings, and revenues outlook is more likely to be near the low end of the previous guidance. Rising inflation is forcing more customers to buy fewer items in the store. 

The company also guided second quarter comparable store sales to be "relatively flat" and earnings per share between 49 cents and 53 cents. 

Tripadvisor, Inc rose 5.6% to $25.93 after the travel support services provider reported first quarter revenues increased 113% to $262 million and net loss declined to $34 million from $80 million.  

The company also appointed media veteran Matt Goldberg as its chief executive officer.  

Wayfair Inc plunged 18% to $75.05 after the online home furnishing store reported March quarter total net revenues declined 13.9% to $3.0 billion and the U.S. net revenues fell 9.9% to $2.5 billion. 

The company also reported a quarterly loss of $319 million compared to $18 million a year ago. 

Number of active subscribers fell 23.4% to 25,6 million and orders delivered plunged 33% to 10 million from a year ago.