🌻Docusign(DOCU), Crowdstrike(CRWD)財報結果
上週這兩家公司發表財報了.
這兩天看了一下他們的財報結果. Again, 兩家的表現都很好, 但發現分析師給DOCU的調價(往上)幅度比較多, 就好奇研究了一下SaaS公司是怎麼被估值的. 有興趣的話可以看看(從中學習到很多. 非常推薦一讀):
https://makingsenseofusastocks.blogspot.com/2021/09/blog-post.html
(By the way, 分析師對CRWD的價格調幅沒那麼大, 主因是成長趨緩了. 而DOCU的free cash flow佔營收比, 以及顧客黏著力在這季創了新高, 是讓分析師按讚的幾個原因).
關於CRWD: "The Street is already modeling revenue growth deceleration in 2022 to 36%, down from 60% expected in 2021, which on its own might prove a hurdle for a stock already trading at a high multiple," said Bank of America analyst Tal Liani in a report.
分析師對於DOCU的評價:
• 11位buy; 給的價格分別是: $310, $320 (x2), $330 (x2), $340 (x2), $345, $350, $350, $389
• 給Buy的分析師的評語:
o Baird: The analyst continues to view them as a best in class way to play digital transformation trends with strong growth, cash flow and profitability, and a strong competitive position. Power said DocuSign remains one of his top long-term compounding growth ideas.
o Citi: While slightly shy of the double-digit billings beat in recent quarters, DocuSign still delivered a solid 8% beat to Q2 billings, which grew 47% year-over-year, Radke tells investors in a research note.
o Evercore ISI: he calls "another strong quarter." While some may have wanted to see more aggressive Q3 billings guidance, he believes estimates "continue to leave room for upside," Materne said.
o JMP Securities: While revenue growth decelerated to 50% from 58% in Q1, the company is the clear leader in electronic signature and the broader system of agreement having crossed over 1M customers with a $2B run rate this quarter, the analyst tells investors in a research note, adding that he sees lots of room for growth as DocuSign targets a $50B total addressable market.
o Needham: The analyst commented, "Docusign reported another strong quarter in 2QF22 with typical DOCU upside to revenue and profitability. Sales metrics and growth decelerated Q/Q, as we expected against a massive pandemic quarter, but at a much slower rate than we believe much of the Street was anticipating. 65k net new customers was lower than the 70k - 90 range of CY20 but was still more than 2x greater than any pre-pandemic quarter, highlighting a strong end-market driving 47% billings growth against a strong comp. Commentary on incremental Agreement Cloud demand was positive, suggesting an additional growth tailwind combined with solid international can further aid 2HF22. Although DOCU shares could be lower near-term due to weak 2H OpMg guidance, we think this guidance is conservative, as the recent OM was greater than the pre-pandemic level even with tough comps."
o RBC Capital: The quarter highlighted the sustainability of the company's tailwinds post-pandemic as most of its underlying metrics such as billings and net revenue retention were solid, the analyst tells investors in a research note, adding that the traction with CLM and Notary was also "impressive".
分析師對於CRWD的評價:
• 12位buy; 給的價格分別是: $300, $310 (x2), $313, $315 (x2) , $305, $320, $325, $330 (x2), $340
• 1位給hold: $280 (from $220 by J.P. Morgan(same))
• 給Buy的分析師的評語:
o Baird: The analyst believes the company has significant room for growth with core modules, opportunities with Humio and in cloud workload security, among others, should help drive a continuation of strong growth over a long time horizon.
o BTIG: The company's "strong" Q2 results "cleared every hurdle", even though the buy-side benchmarks may have been slightly higher, the analyst tells investors in a research note. Powell adds that Crowdstrike is clearly gaining share in its core endpoint security target market at a rapid pace and gaining traction with new products across multiple categories.
o Canaccord: The analyst said the stock is down from its recent highs, and he thinks the re-rating creates a more favorable entry point for longer-oriented investors for a foundational security name. He views Crowdstrike as a long-term secular winner in security due to its native cloud platform advantage versus closely held peers in endpoint security combined with platform expansion into tangential segments to capture greater share of security budgets.
o Goldman Sachs: CrowdStrike last night delivered "another beat and raise quarter as the company benefited from another quarter of elevated demand," Essex said. But it traded lower following net new annual recurring revenue growth guidance that was slightly less than investors had hoped for. Essex, nonetheless, said the quarter demonstrated CrowdStrike's "ability to continue to go down market efficiently."
o JMP Securities: The analyst notes the company's Q2 annualized recurring revenue of $1.34B topping his estimate of $1.30B, with "sustained" 70% ARR and revenue growth along with margin upside seen as key highlights for the quarter. Suppiger adds that the metrics reflect Crowdstrike's "strong execution and robust demand environment".
o Mizuho: "very good" fiscal Q2 results. The annual recurring revenue growth of 70% year-over-year "was strong and still nicely surpassed" the Street's 65%-66% estimate, Moskowitz tells investors in a research note. He believes "strong execution can propel" Crowdstrike's stock higher.
o Piper Sandler: The company's metrics "outperformed across the board" in Q2 with 70% annual recurring revenue and revenue growth and record net new customer adds in the quarter, Owens tells investors in a research note.
o RBC Capital: Hedberg adds that CrowdStrike's record pipeline entering Q3 should continue to fuel the company's "land-and-expand" momentum.
o Stifel: Q2 results that he said "exceeded consensus estimates across all major financial metrics." He continues to believe that Crowdstrike's growth opportunity "remains in the early days" despite the company's scale given continued share capture within its core endpoint security market and incremental module adoption on the Falcon Platform, Reback tells investors.
o UBS: the company reported "pretty good" Q2 results against high expectations.
🌻趨勢: 跨境電商 Cross-border commerce
Morgan Stanley:
From our perspective, we think many are underestimating what the cross-border eCommerce demand could ultimately be, once key friction points like FX rates, tax and duties, shipping, language, etc are smoothed—all issues that Global-E directly addresses.
Cross-border ecommerce brings new, high-yield volume: We think elevated levels of cross-border ecommerce (ex-travel) is a structural shift thathas yet to be fully contemplated in MA (and V)'s long-term forecasts. MA's cross-border CNP ex-travel volume was 69% above 2019's level in 2Q and 63% higher in 1Q. Strength reflects both broader ecommerce adoption plus globalization of commerce, as marketplaces and services that reduce cross-border friction (such as those from GLBE) make international online ordering more readily adopted. Early data at V suggests greater cross-border ecommerce spend is persisting even in areas with pre-pandemic levels of international travel. Cross-border transactions also come at a higher yield, making us more optimistic that the trend can bring incremental long-term growth to the networks.
產業的潮流是有連貫性的. 疫情讓電商更發達後, 接下來應該就是加速電商跨境了. 跨境的話, 有很多問題需要解決(稅率, 語言, etc.) 這就需要有公司來做整合的動作. 這種跨境, 也可以想像是omnichannel的一種呈現.
Harley Finkelstein (President of Shopify): "I mean I think commerce in 2021 is cross-border."
🌻SPAC熱潮退卻,初創市值蒸發750億美元
"SPAC熱潮已經退卻。分析顯示,在2月中旬以前完成合併的137家SPAC的總市值已經蒸發25%,市值回落幅度上個月一度超過1,000億美元。"
"像貝萊德(BlackRock Inc., BLK)和富達投資(Fidelity Investments Inc.)這類企業管理的基金,以及許多對沖基金、養老金管理公司和其他一些投資者,都在SPAC的回落中遭受了衝擊,他們在去年年底開始的熱潮中競相投資SPAC。其中許多基金由於在價格還很低的時候就早早入場,所以現在仍坐擁可觀收益。事實上,SPAC市值仍有約2,500億美元,高於一年前的約1,000億美元,反映出這期間股價上漲和新公司上市的影響。
但即便如此,今年年初令人炫目的回報還是讓許多後來者做了接盤俠,扎堆投資所謂穩賺不賠的領域,其永恆的風險可見一斑。在過去的幾個月裡,一些投資者眼睜睜看著帳面財富縮水。"
"股價下跌會在SPAC領域形成惡性循環,因為投資者有權在併購交易前從空白支票公司撤資。一旦SPAC跌破發行價,投資者就更有可能這樣做,而許多SPAC的股價現在正處於這樣的水平。目前,在尚未宣布併購交易的空白支票公司中,超過95%的公司股價低於發行價。
投資者的大規模撤資會讓已經上市的空白支票公司手上的現金大幅減少,讓其更難實現業務目標,並可能加劇股價跌勢。"
https://on.wsj.com/3n6JznC
🌻BNPL (buy now pay later)
But most BNPL providers including Affirm, Klarna and Afterpay have been losing money despite breakneck revenue growth as they invest heavily in marketing to win share. Sweden-based Klarna’s credit losses more than doubled in the second quarter. Affirm has projected adjusted operating losses of $50m-$55m for the fiscal year that ended June 30.
The path to profitability for many of these companies was to achieve massive scale, analysts said.
https://www.ft.com/content/ca201a37-a16d-4223-b123-04d38350a972
Pictures: 一葉知秋; from EarningsWhispers
同時也有4部Youtube影片,追蹤數超過12萬的網紅Stephen Leung 吃喝玩樂,也在其Youtube影片中提到,家全七福 灣仔駱克道57-73號香港華美粵海酒店3樓 Tel: 28922888 ??影片三級制, 所有影片上架前絕不會提交任何人審查??♂️ 本影片為1級 ✅(一) 老少咸宜,全自費睇得開心 (二) 純邀請拍攝,沒有金錢關係 (三) 合作廣告,支持頻道營運??♂️ 多謝各位親愛的觀衆 ...
best buy 評價 在 A19 OUTLET 歐美精品 Facebook 的最佳解答
來~ 這價格很嗨 ‼ 而且免運費
但下面的話務必要讀唷⭐⭐⭐️⭐️⭐️
法令規定酒類無法線上交易,請在留言處打上
「想訂A」,「想訂B」,「想訂C」
我們將此視為詢價單而非訂購單,客服將會盡快與您聯繫!協助您了解更多。
酒類商品不得售予未滿十八歲之青少年,但由於各位可愛的頭像實在看不出年齡呢!❤️因此欲詢價或得知更多資訊時,我們會先確認您為年滿十八歲以上之成年人。
⭐️不鼓勵、不提倡飲酒。未滿18歲請勿飲酒,飲酒過量有礙健康,酒後不開車。
-------------下面才是正題--------------
先跟大家說明,每一組合都有三種酒,每一種會有2支,所以你看到的價格就是6支的總價!!CP值炸高!都是有名的得獎王啊!
‼️全部免運費‼️全部免運費‼️全部免運費
好了, 這千呼萬喚始出來,稍微看一下每支酒的介紹,弄這9支酒的文案我都快以為我要出書了~
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✔️組合A ✅紅酒+白酒6支組-- 3580
#印象派酒莊 “阿瑪格瑪” 特級陳年紅葡萄酒 2018
★ 全美銷售第一名智利紅酒
★ Nielsen統計:全美銷售第一名智利紅酒(十美金以上) 2015年分
★三次入選Wine Enthusiast百大葡萄酒
產地: 智利
口感dry,即開即飲不用醒酒
#萬寶龍酒莊 特級陳年紅葡萄酒 2016
★ Wine Enthusiast 90 分
★ Best Buy (2009 年分)
★ Mundus Vini-Gold 金牌
★ Gilbert & Gaillard-金牌
產地: 西班牙
鮮明的紅寶石色澤,香味飽滿多樣化,濃郁的花香和明顯藍莓和紅莓香氣融合香草氣息。
#蒙塞倫古堡 莊園白葡萄酒 2019
★ 多次榮獲各國際評選-最物超所值葡萄酒
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產地: 西班牙
迷人花香及黃色水果香,口感清爽及醉度平衡
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✔️組合B ✅ 白酒6支組-- 3580
#義大利花卉阿斯地慕斯卡 微甜白葡萄酒
★ 風靡全球的微汽泡甜葡萄酒-Moscato,其麝香、柑橘以`及 花香,唇齒留香,令人難忘。
★ 酒標上的百花圖便是其風味最高表現,甜美的口感隨風搖擺輕舞。
產地: 義大利
滿滿麝香外還有多種芬芳美艷花香,彷彿置身於花園。
適合搭配各類甜點蛋糕,陳年起司、水果沙拉
#天堂之水酒莊 馬爾堡白蘇維翁白酒
★酒莊名稱源自於其所在地-Otuwhero河畔,此河為雪山融冰而成
★首席釀酒-Jan Kux擁有20年各國產區釀酒經驗
★ 雪梨百大葡萄酒之選
★柏林葡萄酒大賽 金牌
★ 新世界葡萄酒大賽 金牌
產地: 紐西蘭
這支月銷千瓶,很厲害,口感dry,香甜蕁麻葉以及醋栗(gooseberry)香氣,熟成柑橘以及斐濟果(feijoa)氣息,口感清爽並帶出迷人酸度,尾韻悠長。
適合搭配生魚片、壽司、雞肉串燒、天婦羅,貝類,烤大蝦
#吉安尼酒莊 「旋轉木馬」阿斯地慕斯卡 微甜白葡萄酒
★ 唯一連續五年 「 大红蝦三杯 」 的 Moscato d' Asti (相當於米其林三星)
★ 新・ 地表最強 Moscato得獎王酒莊 ,沒有之一
★連續三年,榮獲「最高評價-五串葡萄(5 Grappoli)」
★連續三年,榮獲「最高等獎-4 Viti (四藤最高奬)」
產地: 紐西蘭
天然微氣泡、口感甜美清爽, 花香、果香與麝香集於一身
建議搭配水果、各式糕點或輕食沙拉。
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✔️組合C ✅ 萬寶龍酒莊特級CAVA汽泡酒
「玫瑰金」、 「白金」、 「耀金」, 各2支
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旗下三款大人氣CAVA,各各都入選"世界50強CAVA"
Clos Montblanc Brut Premium Cava (白金)
Clos Montblanc Brut Rosé Premium Cava (玫瑰金)
Clos Montblanc Brut Nature Premium Reserva Cava (耀金)
上升的汽泡透露著濃郁異國花香、薄荷、糖漬金桔、蜜脆蘋果派、臻果、杏仁、 義大利小脆餅、黃香李子的香氣。很適合當開胃酒~
🉐🉐🉐🉐🉐
請在留言處打上「想訂A」,「想訂B」,「想訂C」客服將會盡快與您聯繫!
我們將此視為詢價單而非訂購單,我們將派專人與您聯繫,協助您了解更多!
best buy 評價 在 管啟源 Facebook 的最佳貼文
這陣子有好幾個朋友都蠢蠢欲動要加入HIFI的世界,但又怕花太多錢,其實不同的預算有不同的玩法,選擇比你想像中多,只怕你不夠時間去聽。最近我也不太看電視了,除了因為眼壓太高不適合一直看屏幕外,想留下時間好好聽歌,重溫舊夢,也透過朋友的品味或樂評按圖索驥重回青春期無樂不歡的日子。
DALI 這裡的系列我試過Spektor 2, Oberon 1, Oberon 3以及Menuet SE。
其中Menuet SE應該是體積最小,但卻能在小空間裡展現細緻又大氣的好聲喇叭。而入門級的Spektor 2非常值得玩,what hifi給予五星評價,入選2021的best buy 音箱之一,不挑音樂品種,即使播放嘻哈音樂,也不會有拖沓感。有時會去到音樂playlist不錯的咖啡館,總覺得他們可以考慮進一套有Spektor 2的系統襯托一下他們的品味。
Oberon 1與Oberon 3的差別在於低頻與音場表現,Oberon箱體大一些,適合空間大一些的聆聽場所,我自己最後入手了Oberon 1,還在Run In中,但整體的感覺也已經出來了,這個價位也是沒話說的啦。
試過的幾個型號都很好推,不用太厲害的amp就有不錯的聲音了。
今年如果能賺回因為MCO而沒賺到的,我想也會再升級,不能聽現場,就聽有現場感的吧,這是個“眼見未為真,耳聽未為虛”的世界。
best buy 評價 在 Stephen Leung 吃喝玩樂 Youtube 的最佳解答
家全七福
灣仔駱克道57-73號香港華美粵海酒店3樓
Tel: 28922888
??影片三級制, 所有影片上架前絕不會提交任何人審查??♂️
本影片為1級
✅(一) 老少咸宜,全自費睇得開心
(二) 純邀請拍攝,沒有金錢關係
(三) 合作廣告,支持頻道營運??♂️
多謝各位親愛的觀衆 ! 大家亦可緊貼我的
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best buy 評價 在 Post76影音玩樂 Youtube 的最佳解答
?之前Hugo同大家評測過TCL既電視, 性價比都非常高, 但近期 Hisense(海信)以親民價錢推廣大尺寸4k Dolby Vision 電視型號,在亞洲及歐美等地區一直獲不俗市場回響... 而近期在香港推出 4K 電視新作 HK50U7A(1000) 除預載?香港區專屬 Android 9.0 電視系統,更?自帶 Netflix 及 Youtube 影片串流 App... 規格中最賣大包之處是支援近年漸變常規化的?杜比視界(Dolby Vision)動態 HDR 影像編碼兼容,無需等額外升級已能播放 Netflix 及 4K 藍光碟中 Dolby Vision 訊號,在規格配套上已完全超出其身價...睇下Hugo點試佢同大王點評價部機先!!!??✨
- 0:00 簡介
- 0:37 功能介紹
- 2:12 Hugo教你:Dolby Vision兩種光度點選擇?
- 2:58 Hugo教你:如何增加畫面流暢度?
- 5:07 Hugo教你:播放4k/60 HDR, Dolby Vision點設定?
- 5:35 試片:John Wick 3 4k UHD光碟 / 香港開電視
- 8:29 試片:Netflix 芝加哥七人案
- 9:47 Hugo教你:改善menu流暢性
⚡️圖文片 : https://post76.hk/news/2020/11/hisense-hk50u7a-review/
⚡️討論帖 : https://post76.hk/thread-323890-1-1.html
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#Post76玩樂網 #Hisense #海信 #4K電視 #HDR高動態範圍影像 #HK50U7A1000 #Android9.0 #自帶 Netflix #Youtube #杜比視界 #Dolby_Vision #unbox #hometheater #hifi #headfi #評測 #開箱 #家庭影院 #試玩 #影音 #av #post76 #forum #hkforum #avforum #4k_ tv_best_buy
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best buy 評價 在 Stephen Leung 吃喝玩樂 Youtube 的最讚貼文
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