Movers: Container Store, Doximity, EVgo, Keysights, Target Corp

Scott Peters
17 May, 2023
New York City

Target Corp increased 1.7% to $159.62 after the retailer reported only 0.6% increase in revenue to $25.32 billion. Store traffic increased 0.9% on top of 3.9% in the quarter a year ago. 

Net income declined 5.8% to $950 million from $1.0 billion and diluted earnings per share fell to $2.05 from $2.16 a year ago. 

EVgo Inc dropped 13.4% to $4.96 after the electric vehicle charging stations network operator reported a $125 million secondary offering with an option to raise additional $18 million. 

The company hopes to sell between 94 million and 97 million shares in the secondary offering. 

Revenue in the first quarter increased 229% to $25.3 million and net loss shrank to $49 million from $55.2 million and diluted losses pre share fell to 18 cents from 21 cents a year ago. 

Keysights Technologies Inc jumped 7.7% to $157.74 after the company reported higher-than-expected fiscal second quarter adjusted earnings and offered a positive outlook for the current quarter. 

Doximity Inc declined 5.5% to $32.02 after the company reported mixed quarterly results in the fiscal fourth quarter ending in March. 

Revenue in the quartet increased 18% to $111.0 million from $97.0 million and net income dropped to $30.7 million from $36.7 million and diluted earnings per share declined to 14 cents from 20 cents a year ago. 

The company forecasted revenue in the fiscal first quarter ending in June between $106.5 million and $107.5 million and for the full-year between $500 million and $506 million. 

The company forecasted adjusted EBITDA in the June quarter between $39 million and $40.0 million and for the fiscal year 2024 between $216 million and $222 million. 

The Container Store Group Inc fell 5.9% to $2.55 after the specialty retailer reported a decline in revenue. 

Revenue in the first quarter declined to $259.7 million from $356.7 million and the company swung to a net loss of $189.3 million from a profit of $23.2 million and diluted earnings per share was ($3.85) compared to 46 cents a year ago.    

The retailer forecasted revenue in the fiscal first quarter ending in June between $200 million and $210 million and comparable sales to fall between 19% and 23%. 

The company also estimated net loss between 16 cents and 10 cents per share. 

For the fiscal year 2024, the retailer forecasted revenue between $885 million and $900 million and net income between 7 cents and 17 cents per share and comparable sales to decline in "mid to high teens."