🌻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2部Youtube影片,追蹤數超過9,980的網紅BeautywithFei,也在其Youtube影片中提到,發問前請詳閱資訊欄並維持禮貌,一起創造更好的網路禮儀環境 Any constructive criticism is welcome. Please make our Internet a better environment. 今天跟大家分享累積大概八個月的空瓶 我現在的膚質是非~~~常乾的乾...
double power評價 在 Car文愛美麗 Facebook 的精選貼文
網紅粉底液大比拼 ❤GIORGIO ARMANI vs ESTEE LAUDER
在夏日炎熱潮濕的天氣下,加上長時間逗留於冷氣環境,肌膚容易出汗及出油,底妝難以持久維持,不知大家有沒有同感﹖為了解決脫妝的問題,於是我在網上搜尋了不同的用家的意見,最終發現有兩款粉底液的評價都相當高,為了避免大家作無謂的消費,所以這次我將它們都帶回家,實測一下是否如網上評價般值得入手吧﹗這次購入了 GIORGIO ARMANI POWER FABRIC 持久零瑕粉底液 SPF25 及 ESTEE LAUDER DOUBLE WEAR 持久防曬粉底 SPF 10/ PA++ ,兩款粉底液都深受很多不同用家的喜愛,究竟它們的吸引之處在哪呢﹖現在便來跟大家一一拆解吧﹗
.
Review: http://bit.ly/2HgAJye
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話說兩款粉底液都是在美妝網購平台Strawberrynet訂購的,Strawberrynet 所有專櫃品牌均有特價,更低至3折﹗經常有不同promotion推出﹗香港客戶尊享8折優惠,手機app落單更可享額外95折優惠,新客戶免運費,而香港客戶早上10:00下單,更可享即日送貨服務﹗於下單後的第二天便能夠收到貨品,所以對於懶人來說,真是一個非常方便和節省金錢的購物方法啊﹗
.
🛒購物請前往 👉🏻 http://bit.ly/2MQL8Eo
✨另外,大家如果下次於 Strawberrynet 購物時,記得結帳時輸入優惠碼”Soberry1” ,便可獲 2支Crabtree & evelyn handcream ﹗新客戶再享免運費 ,有效期至9月30日﹗
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Strawberrynet Hong Kong
Armani Beauty
Estee Lauder Hong Kong
#Strawberrynet #StrawberrynetHongKong #giorgioarmanipowerfabric
#esteelauderdoublewear
double power評價 在 Eva in Busan 撒烏醋在釜山 Facebook 的最佳貼文
【五月第二週 美妝店特價總覽】
#Etude_House
5/13(五)~5/14(六) 兩日PINK會員特價
20%~50% off
推薦商品:
Double Lasting粉底液
(特價:KRW 14,400 / Royal會員:KRW.12,600)
(號稱雅詩蘭黛Double Wear粉底液的小資版)
#tony_moly
5/13(五)~5/15(日)
最高50%off特價
#innisfree
5/12(四)~5/14(六)
最高50%off特價
#ARITAUM
5/12(四)~5/14(六)
最高50%off 對全會員特價
推薦商品:
Aritaum Fresh Power Essence面膜
(半價 KRW. 500)
(韓國美妝節目評價第一)
#Nature_Republic
5/13(五)~5/16(一)
最高50%off 特價 綠色會員及網路會員適用
PS. 上次預測得很多品牌剛好都特價!!! 大家快把握五月第二週的特價機會囤貨唷!!!
double power評價 在 BeautywithFei Youtube 的最佳貼文
發問前請詳閱資訊欄並維持禮貌,一起創造更好的網路禮儀環境
Any constructive criticism is welcome. Please make our Internet a better environment.
今天跟大家分享累積大概八個月的空瓶
我現在的膚質是非~~~常乾的乾肌
(小叮嚀*洛杉磯溼度真的超低,所以皮膚會更乾)
加上前陣子爛臉長痘痘又脫皮
當時真的超困擾
使用了一些產品心得跟大家分享
果然是爛臉的時候才看得出哪些產品是救星❤️
提醒大家保養品類還是要拿試用包親自使用才知道適不適合自己喔
複習一下年度愛用保養品
https://www.youtube.com/watch?v=KZAP2NaHobA
喜歡我的影片記得幫我按個讚👍
別忘了訂閱我的頻道喔❤️
也可以去加入我的Facebook粉絲專頁
更多精彩的美國生活也在Instgram與你們分享
想要跟菲菲分享任何彩妝或是生活都可以tag #beautywithfei
Love n Peace
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影片中提到的有/Product mentioned
►Avene Thermal Spring Water
回購率:★★(對於健康皮膚的保濕感ok,乾肌不太夠力,濕敷效果比單純噴霧好)
►Bosnia Balancing Facial Tonic
回購率:★★★★★
►Bioderma Makeup Removing Micelle Solution
回購率:★★★★★
►Banila Co Cleansing Balm Original
回購率:★★★★
►Bifesta Bright Up Cleansing Sheet
回購率:★★★★★
►Fresh Soy Face Cleanser
回購率:★★★★
►Jealousness Ultra Light Makeup Remover
回購率:★★★★★
►Fancl Facial Washing Powder
回購率:★★★★★
►Estee Lauder Advanced Night Repair Synchronized Recovery Complex II
回購率:★★★★★
►Origins Mega Mushroom Relief & Resilience Serum
回購率:★ (爛臉時期使用幾乎是無感...原本也是看了評價好才買的,極度失望)
►Sulwhasoo Overnight Vitalizing Mask
回購率:★★★★
►Kiehl’s Midnight Recovery Eye
回購率:★★★★★
►FANCL Enrich Lotion II
回購率:★★★★
►Origins GinZing™ Energy-Boosting Gel Moisturizer
回購率:★★
►Origins High-Potency Night-a-Mins Oil-Free Resurfacing Cream
回購率:★★★
►Fresh Rose Face Mask
回購率:★(對我來說完全沒有保濕效果又有點刺激,不喜歡)
►Avene Skin Recovery Cream
回購率:★★(成分含有礦物油...對皮膚似乎是不太友善的成分)
►Briogeo Scalp Revival Charcoal + Coconut Oil Micro-exfoliating Shampoo
回購率:★★★★★
►Briogeo Don’t Despair Repair Deep Conditioning Mask
回購率:★★★★★
►Living Proof Perfect Hair Day Dry Shampoo
回購率:★★★
►Loccitane Hand Cream
回購率:★★★★
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本影片產品無任何廣告意圖,所有產品皆為本人購入,盜圖必究
This is not a sponsored video. All the products were purchased by myself.
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My skin type is dry and sensitive
The foundation I use
Estee Lauder Double Wear Foundation // 1W1
Shuemura Light Bulb Foundation // 774
Wet N Wild Photo Focus Foundation in // Soft Ivory
Revlon Color Stay Foundation // 150 Buff
Giorgio Armani Power Fabric // 02
Hourglass Vanish Stick Foundation // Bisque
我的肌膚是混合性偏乾,T字會輕微出油,鼻翼兩側偏乾
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Hi everyone my name is Fei. You can follow my social media if you want to know more about me and my life. Please subscribe my channel and give me a thumb up if you enjoy this video. Love n Peace❤️👼
Facebook:菲菲 Fei
Instgram:BeautywithFei
Business Email:goo102383@gmail.com
![post-title](https://i.ytimg.com/vi/hqbTYwZDPj8/hqdefault.jpg)
double power評價 在 cheerS beauty Youtube 的最佳貼文
✔如果你想看更多我的短片和更訢,請訂閱我的頻道!
Don't forget to SUBSCRIBE if you want to watch more videos!
✔追蹤以下平台有更多日常生活、旅遊和穿搭更新
Find me on
Facebook page: Suenn Wong
Instagram: suennwong
Product information:
Make up remover
Bioderma lightening make up remover
Topicrem gentle micellar water*
Dr.Wu gentle soothing cleanser & make up remover
Softymo Lachesca water cleansing
1028 hydrating eye and lip makeup cleanser*
Pond’s lip & eye make up remover
Cleanser
The history of whoo hydrating foam cleanser*
Dernacept vitamin C powder wash*
Toner
Bioderma moisturising and radiance booster
Caudalie grape water*
SKII Facial treatment essence*
Albion skin conditioner*
The history of whoo hydrating balancer*
Fancl aging care lotion II
Hadalabo treatment essence*
Serum
Ampleur skin whitening serum*
Clarins double serum
The history of whoo Soon Hwan Essence*
Belif Hungarian water essence*
Dr.Wu intensive hydrating serum
Caudalie glow activating anti-wrinkle serum*
MTM custom blended re-write essence*
Shiseido ultimune power infusing concentrate*
Cream/Lotion
Dermacept stembase milk advance base*
Minon amino moist moist charge lotion II
Epure amino hydro intense cleanser*
Fancl aging care emulsion II
Avene aqua cream-in-gel*
Caudalie moisturising sorbet*
MTM custom blended calming emulsion*
MTM custom-blended calming protector*
The history of whoo hydrating emulsion*
Eye cream:
Estée Lauder advanced night repair eye concentrate matrix*
Estée Lauder advanced night repair eye*
Charlotte tilbury magic eye rescue*
✔常見問題△FAQ
⌲我的膚質/My skin type
敏感肌/春夏是混合性/秋冬是混合偏乾肌
Sensitive skin/ Combo skin in spring summer/ Combo dry in Fall Winter
⌲身高/Height 169cm
⌲拍輯相機/Camera
Canon M50/G7X MarkII
⌲編輯軟件/Editing software
Adobe Premiere Pro CC 2017/After Effect
Disclaimer: This video is NOT sponsored.
Products with a (*) = Sent by PR for reviewing purpose but NOT PAID to mention
Products with a (**) = PAID to mention
All opinions are 100% honest
![post-title](https://i.ytimg.com/vi/66AEwAQBQtE/hqdefault.jpg)