Movers: Broadcom, Five Below, Lululemon, MongoDB, SentinelOne, Zscaler

Scott Peters
02 Jun, 2023
New York City

Lululemon Athletica Inc soared 14% to $374.35 after the athletic apparel retailer reported sharply higher revenue and earnings and the company lifted its full-year outlook.  

Revenue in the latest quarter jumped 24% to $2.0 billion or increased 27% on a constant dollar basis.  

Total comparable sales increased 14%, and comparable store sales increased 13% and direct to consumer sales jumped 16%. 

Net revenue increased 17% in North America, and increased 60% internationally.

Net income increased to $290.4 million from $190 million and diluted earnings per share rose to $2.28 from $1.48 a year ago. 

For the second quarter, the company estimated net revenue to be in the range of $2.14 billion to $2.17 billion, representing growth of approximately 15%. 

Diluted earnings per share are expected to be in the range of $2.47 to $2.52 for the quarter.

For 2023, the retailer expects net revenue to be in the range of $9.44 billion to $9.51 billion, representing growth of approximately 17%.

 Diluted earnings per share are expected to be in the range of $11.74 to $11.94 for the year.

The company revised its full-year revenue from between $9.31 billion and $9.41 billion to between $9.44 billion and $9.51 billion. 

Five Below Inc increased 6.4% to $179.43 after the deep discount retailer reported higher-than-expected earnings but the company offered a cautious outlook for the second quarter. 

Net sales in the first quarter ending in April increased 13% to 13.5% to $726.2 million from $639.6 million after comparable store sales rose 2.7% 

Net income increased to $37.5 million from $32.7 million and diluted earnings per share increased to 67 cents from 59 cents a year ago. 

The deep discount retailer guided fiscal second quarter net sales in the range of $755 million to $765 million based on opening approximately 40 new stores and assuming an approximate 2% to 3% increase in comparable sales.

Net income is expected to be in the range of $44 million to $48 million and diluted income per share in the range of $0.80 to $0.85 on approximately 55.9  million diluted weighted average shares outstanding. 

MongoDB Inc soared 26.7% to $372.50 after the database developer reported higher-than-expected quarterly earnings and also estimated a surge in second quarter revenue. 

Total revenue in the fiscal first quarter ending in April increased 29% to $368.3 million, driven by 29% jump in subscription revenue to $354.7 million and services revenue increase of 25% to $13.6 million.

Net loss increased to $54.3 million from $77.3 million and diluted earnings per share eased to 77 cents from $1.14 a year ago. 

The company revised higher second quarter revenue between $388 million to $392 million and fiscal 2024 revenue between $1.522 billion to $1.542 billion.

SentinelOne Inc plunged 36.10% to $13.10 after the cybersecurity company reported lower-than-expected sales in its latest quarter and cut its annual outlook. 

Revenue in the first quarter ending in April increased to $133.4 million from $78.2 million and net loss expanded to $106.8 million from $89.8 million and diluted loss per share was 37 cents compared to 33 cents a year ago. 

The company estimated second quarter revenue to grow 38% to $141 million and full-year revenue between $590 million and $600 million. 

Zscaler Inc increased 8.1% to $146.10 after the company reported better-than-expected quarterly results. 

Revenue in the fiscal third quarter ending in April increased 46% to $418.8 million. 

Net loss declined to $46.0 million, compared to $101.4 million and diluted loss per share fell to 32 cents from 72 cents a year ago. 

The company estimated revenue for the fiscal fourth quarter between $429 million and $431 million and for the full-year between $1.591 billion to $1.593 billion. 

Broadcom Inc increased 2.4% to $808.81 after the advanced chipmaker exceeded revenue and earnings expectations. 

Revenue in the fiscal second quarter ending in April increased 8% to $8.7 billion from $8.1 billion and net income increased to $3.5 billion from %2.6 billion and diluted earnings per share rose to $8.15 from $5.93 a year ago. 

The company announced a dividend of $4.60 per share payable on June 30 to stockholders of record on June 22. 

The company guided fiscal third quarter revenue of $8.85 billion and adjusted operating income of 65% of projected revenue.