🌻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31部Youtube影片,追蹤數超過36萬的網紅Tiger Muay Thai and MMA Training Camp, Phuket, Thailand,也在其Youtube影片中提到,Muay Thai legends Dieselnoi Chor.Thanasukarn and Samart Payakaroon teach how to correctly execute straight knee strikes in the super seminar held here...
「crossed over」的推薦目錄:
crossed over 在 Facebook 的精選貼文
Finally took my 1st jab.
I am guessing many breastfeeding mommies and mommies-to-be are as confused as i am, as to take the vaccine or not. Afterall, earlier we were adviced not to take it, and then to take it and throw away the milk for the first 5-7 days. And only recently were bfeeding moms and moms-to-be adviced to take the vaccine.
To eliminate all confusion, i asked my gynae about it directly.
So, latest evidence from 5000 mommies-to-be and bfeeding mom shown that antibodies found to have crossed over through breast milk, therefore also protecting baby.
Upon hearing that, i registered my jab immediately.
1 down. 1 more to go.
crossed over 在 Facebook 的最佳貼文
Sometimes I still can’t get over the fact that we “made” this little sweetheart. 👶🏻 TBH, it never crossed my mind that 5 years after surviving cancer, I will get married and get pregnant. 😂 Obviously, the plan to settle down (to start a family) is not in mind because to conceive with only an ovary (and cancer history) is a question mark and I didn’t want to put too much hope or gave my partner any unrealistic hope. 😶 But pandemic changed my mind. We decided to give it a try and that’s how we got her, our sweet Isabelle ❣️
P/S: 𝘋𝘰𝘯’𝘵 𝘨𝘪𝘷𝘦 𝘶𝘱 𝘦𝘷𝘦𝘯 𝘪𝘧 𝘵𝘩𝘦 𝘴𝘬𝘺 𝘨𝘦𝘵𝘴 𝘳𝘰𝘶𝘨𝘩. 𝘑𝘶𝘴𝘵 𝘧𝘰𝘤𝘶𝘴 𝘰𝘯 𝘵𝘩𝘦 𝘭𝘪𝘨𝘩𝘵 𝘢𝘵 𝘵𝘩𝘦 𝘦𝘯𝘥 𝘰𝘧 𝘵𝘩𝘦 𝘵𝘶𝘯𝘯𝘦𝘭 🍀
#babyisabelleNQY #jennslifeaftercancer #spreadlovecreatehope #ovariancancersurvivor #ovariancancer #ahjenn
crossed over 在 Tiger Muay Thai and MMA Training Camp, Phuket, Thailand Youtube 的最佳解答
Muay Thai legends Dieselnoi Chor.Thanasukarn and Samart Payakaroon teach how to correctly execute straight knee strikes in the super seminar held here at Tiger Muay Thai on February 18th 2020.
Known as "The Sky Piercing Knee", Dieselnoi was the most dominant Muay Thai fighter of all time, holding the Lumpinee stadium lightweight title for 4 years straight before having to retire due to lack of challengers, and winning the "Fighter Of The Year Award" (the most prestigious prize in Muay Thai). Also a 3 x winner of the "Fighter Of The Year" award, Samart is widely regarded as the most technical Muay Thai fighter of all time, who won the Lumpinee stadium title 4 times and also crossed over to boxing, where he became WBC world champion.
It was a pleasure learning some technique secrets from these 2 masters, and we look forward to having them here again for more seminars in the future!
Train with us: https://www.tigermuaythai.com/
Get TMT gear: https://www.tmtfightstore.com/en/
![post-title](https://i.ytimg.com/vi/ZyBLOUSKkvQ/hqdefault.jpg)
crossed over 在 Cy Leo Youtube 的最佳解答
On The Sunny Side Of The Street w 林愷鈴 Ashley Lin ‘s soulful voice & Kurtis Li tasty guitar at 卅間 chez trente
Lyrics:
Grab your coat and get your hat
Leave your worries on the doorstep
Life can be so sweet
On the sunny side of the street
Can't you hear the pitter-pat
And that happy tune is your step
Life can be complete
On the sunny side of the street
I used to walk in the shade with my blues on parade
But I'm not afraid, this rover's crossed over
If I never had a cent
I'd be rich as rockefeller
Gold dust at my feet
On the sunny side of the street
![post-title](https://i.ytimg.com/vi/f_UmRojlocI/hqdefault.jpg)
crossed over 在 CH Music Channel Youtube 的最佳解答
《daydream》
for ロンリー / 致孤獨 / for lonely
作詞 / Lyricist:阿部真央
作曲 / Composer:阿部真央
編曲 / Arranger:玉井健二・大西省吾
歌 / Singer:Aimer with 阿部真央
翻譯:澄野(CH Music Channel)
意譯:CH(CH Music Channel)
English Translation: Thaerin
背景 / Background - 私には君の味がわからない - おむたつ :
https://www.pixiv.net/artworks/74584294
版權聲明:
本頻道不握有任何音樂所有權,亦無任何營利,一切僅為推廣用途。音樂所有權歸原始創作者所有。請支持正版。
Copyright Info:
Be aware this channel is for promotion purposes only without any illegal profit. All music's ownership belongs to the original creators.
Please support the original creator.
すべての権利は正当な所有者/作成者に帰属します。あなたがこの音楽(または画像)の作成者で、この動画に使用されたくない場合はメッセージまたはこのYoutubeチャンネルの概要のメールアドレスにご連絡ください。私はすぐに削除します。
如果你喜歡我的影片,不妨按下喜歡和訂閱,你的支持就是我創作的最大原動力!
If you like my videos, please click like and subscribe! Thx :)
粉絲團隨時獲得最新訊息!
Check my Facebook page for more information!
https://www.facebook.com/chschannel/
中文翻譯 / Chinese Translation :
https://home.gamer.com.tw/creationDetail.php?sn=4872250
英文翻譯 / English Translation :
https://www.lyrical-nonsense.com/lyrics/aimer/for-lonely-with-mao-abe/
日文歌詞 / Japanese Lyrics :
大好きな人 君はどう思う?
些細なことでぶつかり合う僕らを
僕の意地っぱりも 君の強がりも
全部会えないことのせいにしてしまおう
大好きな人 知っているか?
今日も君への想いで僕は揺れてる
ちょっととぼけた 可愛い人
今君に会いたくて僕は泣いてる
触れられない 触れ合えないことに かなり参ってる
不安なんだよ Baby 口にはできないけど
抱き締めたなら ただそれだけで済んでしまうことなのに
for ロンリー
大好きな人 なんでそう思う?
自分ばかりが好きなんじゃないかって
驚いたよ 大好きな人
今の僕にその言葉はないだろう?
電話越し 突然に泣き出す君にどぎまぎしている
どうしろっての Baby こんなに好きなのに…
他の何かじゃ 満たせそうにないから困っているのに
for ロンリー
for ロンリー
for ロンリー
大半が 下らない
すれ違い 想い合うが故の憂さ
抱き締めたなら ただそれだけで済んでしまうことなのに
for ロンリー
for ロンリー
Lonely you
Lonely girl
Lonely you
中文歌詞 / Chinese Lyrics :
最摯愛的人,你是怎麼想的呢?
因微不足道的小事而爭吵的我們
將我那不退讓的固執和你那不認輸的逞強
全歸在無法相見的錯上吧
我那最摯愛的人,你知道嗎?
今日又因對你的思念使我的心難以平復
有些許笨拙且可愛的人
我因過於渴望與你相見而落淚
無法觸及你、無法彼此相觸,使我十分挫折懊惱
「我其實很不安,Baby。」即使這種話難以說出口
即便僅是彼此緊緊相擁,便能令我感到滿足
致這份孤獨
我那最摯愛的人,為何會這麼認為呢?
「僅有你任性地沉浸在自己的世界。」
我很驚訝,我那最摯愛的人
為什麼你這時候能對我說出那種傷人的話?
電話那頭,因突然哭出聲的你而深感焦慮慌張
你是想要我怎麼做才好,Baby?明明我是如此地喜歡你......
明明除了你以外,不再有任何事物可以滿足我的內心,令我百般困擾
致你承擔的孤獨
致我擔負的孤獨
致這份屬於兩人的孤獨
其實全都是些枯燥乏味的事
心中的陰鬱全因彼此交錯擦身的思念而生
即便僅是彼此緊緊相擁,便能令我感到滿足
致孤獨
致這份孤獨
致孤單的你
致孤單的女孩
致孤單的你
英文歌詞 / English Lyrics :
Dear, my beloved. What do you think
About us fighting over the slightest things?
Let’s blame my stubbornness, and your false strength,
On the fact we can’t see one another right now.
Dear, my beloved. Did you already know
That even today, I’m still shaken by my feelings for you?
You slightly aloof, precious thing…
Wishing to see you, I’m steeped in tears.
I’m pretty defeated, unable to touch you… and be touched by you.
I’m feeling so uneasy, baby… though I can’t quite speak the words.
Even though it would solve everything… if you just took me in your arms.
Dear, my beloved. Why is it you think
That I’m merely self-absorbed?
I’m so surprised, my beloved –
You shouldn’t be able to say those things to me now…
From the other side of the phone, I’m getting flustered from your outburst of tears.
What do you expect me to do, baby? Despite loving you this much…
I’m in a bind ’cause I can’t imagine anything fulfilling me like you do.
Most of our reasons are foolish;
This melancholy is born of crossed wires and caring intent.
Even though it would solve everything… if you just took me in your arms.
![post-title](https://i.ytimg.com/vi/IAvMvuKnPRE/hqdefault.jpg)