Disappointing big tech earnings and guidance came from Meta (NASDAQ: META), Alphabet (NASDAQ: GOOGL), Amazon (NASDAQ: AMZN) and Microsoft (NASDAQ: MSFT) last week, but the markets showed resilience. Although Apple (NASDAQ: AAPL) beat analyst estimates, it is increasingly looking vulnerable with its close ties to China.
November begins with smaller tech companies continuing to report along with several healthcare names.
Here are five on our radar:
SoFi Technologies Inc (NASDAQ: SOFI)
SoFi Technologies Inc (NASDAQ: SOFI) reports its latest quarterly earnings on November 1 before the market opens. FactSet analyst estimates provide an EPS consensus of -$0.11 and a sales consensus of $393.44m.
SoFi Technologies, Inc. is an online personal finance company and online bank. The company provides financial products, including student and auto loan refinancing, mortgages, personal loans, credit cards, investing, and banking through both mobile app and desktop interfaces. SoFi Technologies serves customers in the United States.
Over the past year, SOFI stock has traded between $4.77 and $24.65. Today it trades at around $5.45. Year-to-date, the SoFi Technologies stock price is down -65.24%, while the S&P 500 is down -18.67% over the same period.
FactSet analysts have a consensus Overweight rating on SOFI stock with a target share price of $8.29.
SoFi Technologies has a $5bn market cap and a price-to-book-value (P/BV) of 1. Company sales fell in 2018 but have been rising Y/Y since. 2022 estimates see sales of $1.5bn. Company losses more than doubled in 2021 but look to be slightly better this year, with estimates of -$381.8m in 2022.
Subscriber numbers fell between March and June, so investors will be looking for an uptick in Q3.
Uber Technologies Inc (NYSE: UBER)
Uber Technologies Inc (NYSE: UBER) will report its Q3 earnings on November 1 before the market opens. FactSet analyst estimates provide an EPS consensus of -$0.18 and a sales consensus of $8.1bn.
Uber Technologies, Inc. is a ride-hailing delivery firm. Its divisions include Mobility, Delivery and Freight, and it will soon be adding Advertising to the mix. Mobility Drivers provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibusses, or taxis. Its Delivery segment offers local food pick-up and delivery, along with grocery, alcohol and convenience store delivery in certain markets. Its Freight segment leverages proprietary technology, brand awareness, and experience revolutionizing industries to connect carriers with shippers on Uber’s platform, and gives carriers upfront, transparent pricing and the ability to book a shipment.
The company was founded by Oscar Salazar Gaitan, Travis Kalanick and Garrett Camp in 2009 and is headquartered in San Francisco.
Over the past year, UBER stock has traded between $19.90 and $48.74. Today it trades at around $27.50. Year-to-date, the Uber Technologies stock price is down -37.43%.
FactSet analysts have a consensus Buy rating on UBER stock with a target share price of $46.73.
Uber Technologies' P/BV is 8.11, and it has a $54.4bn market cap. Company sales have been rising after slipping in 2020. Revenue estimates for 2022 have returns pegged at $31.49bn, up from $17.45bn in 2021. Meanwhile, net income is expected to drop significantly to -$9.18bn, from -$496m last year.
CVS Health Corp (NYSE: CVS)
CVS Health Corp (NYSE: CVS) reports quarterly earnings on November 2. FactSet analyst estimates provide an EPS consensus of $2 and a sales consensus of $76.74bn.
According to Bloomberg, CVS Health Corporation provides health care and retail pharmacy services. The Company offers prescription medications, beauty, personal care, cosmetics, and health care products, as well as pharmacy benefit management (PBM), disease management, and administrative services. CVS Health operates in the United States and Puerto Rico.
Over the past year, CVS stock has traded between $86.28 and $111.25. Today it trades at around $94.19. Year-to-date, the CVS Health Corp stock price is down -9.57%.
FactSet analysts have a consensus Overweight rating on CVS stock with a target share price of $117.07.
CVS Health Corp's market cap is $123bn. Profits have been growing year-over-year and are expected to return $9.8m in 2022. CVS stock has a P/E of 15.3, and it comes with a dividend yield of 2.34%.
Earlier this month, CVS was rumored to be in talks to buy Cano Health (NYSE: CANO), but it didn’t come to anything. Investors will be interested to know if there are any other M&A deals in the pipeline.
A stock with a beta higher than 1.0 is expected to be more volatile than the S&P 500. CVS stock has a 52-week beta of 0.68, reflecting its relatively stable nature.
Editas Medicine (NASDAQ: EDIT)
Editas Medicine (NASDAQ: EDIT) reports its third-quarter earnings on November 2 before the market opens. FactSet analyst estimates provide an EPS consensus of -$0.85 and a sales consensus of $4.39m.
Editas Medicine, Inc. is a biotechnology company operating in the CRISPR sector. The company offers transformative genome editing technology with the aim to translate the technology into a novel class of human therapeutics that enable precise and corrective molecular modification for the treatment of diseases such as Sickle Cell disease, TDT and retinal disorders. Editas Medicine serves the healthcare sector in the United States.
Over the past year, EDIT stock has traded between $9.59 and $42.11. Today it trades at around $12.74. Year-to-date, the Editas Medicine stock price is down -53.89%.
FactSet analysts have a consensus Hold rating on EDIT stock with a target share price of $28.93.
EDIT stock has an $875m market cap and P/BV of 1.88.
Company sales have been erratic. Editas saw revenues of $31.7m in 2018, which fell to $20.5m in 2019, only to soar to $90.7m in 2020 and slip back to $25.5 in 2021. This year, estimates have sales at $21.8m.
The company cash balance sat at $527.6m at the end of Q2, down from $566.4m at the end of Q1. It also pared losses from -$55.3m to -$53.5m Y/Y. But R&D costs rose by $9.9m Y/Y to $43.7m in Q2.
Leading the company in a new direction is CEO Gilmore O’Neill, who joined Editas earlier this year. In Q2, he stated his confidence in Editas Medicine’s ability to develop novel medicines and intends to help the company transform from being a tech platform into a therapeutics company.
Intellia Therapeutics Inc (NASDAQ: NTLA)
Intellia Therapeutics Inc (NASDAQ: NTLA) reports quarterly earnings on November 3. FactSet analyst estimates provide an EPS consensus of -$1.28 and a sales consensus of $11.89m.
Intellia Therapeutics, Inc. operates as a biotechnology company. The company focuses on the research and clinical development of gene editing therapies for patients with genetically based diseases.
Over the past year, NTLA stock has traded between $37.08 and $143.92. Today it trades at around $54.03.
NTLA stock has a P/BV of 4.65, and its market cap is $4.1bn. Company sales fell to $33m in 2021, but estimates for 2022 see it returning closer to 2020 levels with estimated revenues of $51.7m.
In Q2, NTLA had cash of $906.9m, down from $1.1bn six months prior. Meanwhile, collaboration revenue more than doubled Y/Y to $14m. Research and development expenses rose by $31.3m to $90.2m Y/Y.
Intellia’s net loss was $100.7m, compared to $68.8m in the comparable quarter. Year-to-date, the Intellia Therapeutics stock price is down -54.6%.
FactSet analysts have a consensus Buy rating on NTLA stock with a target share price of $116.72.
