Investors are probably familiar with the latest trend among stock-picking sites and analysts to publish a list of technology stocks that will likely benefit from the COVID-19 situation. While obvious picks like ZM, WORK and TDOC are usually mentioned, I haven’t seen Twilio included. This is understandable, as the Twilio brand is usually suppressed in end-user applications that utilize its services. Yet, as the leading provider of programmable communications, many of these types of solutions for social distancing (video collaboration, messaging, chat, email, etc.) could be built on Twilio’s platform. Over the last couple of weeks, Twilio (TWLO) has announced several product extensions and ready-made templates that provide solutions for connecting and notifying people in a COVID-19 impacted environment. In this post, I’ll highlight some of the recent announcements from Twilio and implications for incremental use of their platform.
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On March 17, MongoDB (MDB) released earnings results for Q4 FY 2020 and provided estimates for FY 2021. Q4 results far exceeded expectations. FY 2021 estimates were tempered by anticipated impact from COVID-19. They also announced a CTO leadership change. The market reacted the next day by initially spiking the stock price up 9.6%, but then closing down by 7.7% in a late day sell-off. A lot of the volatility can be attributed to COVID-19 market gyrations. Since then, the stock has recovered and is now trading about 23% above it’s pre-earnings price. Analyst reactions to the results were mixed, with expected price cuts due to the macro environment, but positive feedback for leadership’s transparency over headwinds in 2020 with COVID-19. Let’s take a detailed look at the results.
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On March 17, Smartsheet (SMAR) released earnings results for Q4 FY 2020. Overall, Q4 results exceeded expectations and this year’s projections are encouraging, considering the macro environment. The market responded favorably, pushing the stock price up by 2.9% the following day, in spite of a broad sell-off due to COVID-19 concerns. Analyst commentary was positive. Let’s take a deeper look at the results.
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After releasing strong Q4 2019 earnings results in early February, Zendesk (ZEN) promised investors some exciting product announcements at their annual customer event, Zendesk Relate, scheduled for the first week of March. Unfortunately, due to concerns with COVID-19, Zendesk cancelled the in-person event. However, they still made a number of product announcements and held a virtual analyst event on March 4. While the cancellation of Relate and the evolving COVID-19 situation will impact Zendesk’s business in 2020, their strong product development motion and new offerings will expand their leadership in customer service and support their foray into customer relationship management.
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Date of Recommendation: March 12, 2020 Stock Price at Publishing: $48.76 5 Year Price Target: $170.00
Elastic (ESTC) stock should be considered for long term investment. I expect the price of Elastic’s stock to increase significantly over the next 5 years. Growth will be driven by their leading position as a generalized development platform for search, which in the broadest sense encompasses wide applications of data discovery. Their product development cadence has accelerated in the last few years, driven by thoughtful acquisitions and organic growth. Strong developer mindshare is supported by an open core software licensing model. Revenue growth has been consistently high with impressive customer expansion rates. The leadership team is strong, led by a technically-oriented founder and CEO. I expect the stock price to more than triple and exceed $170 within the next 5 years.
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A few days after Alteryx’s earnings release, Gartner published its updated Magic Quadrant for Data Science and Machine Learning Platforms. Alteryx recaptured the Leader position, after being moved to a Challenger in 2019. Gartner highlighted solid expansion in Alteryx’s product vision, driven by improvements in augmented machine learning and process automation. Additionally, Alteryx was rated as having the highest ability to execute on its vision amongst all companies. This recognition from Gartner validates Alteryx’s strong product position and reflects progress in 2019 to extend its offerings across the full life-cycle of data science and machine learning.
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Fastly announced earnings results for Q4 and full year 2019 on February 20, 2020. Results beat expectations on most measures, with strong revenue outperformance for Q4. Bundled with the earnings results was an announced CEO transition. The market reacted negatively the following day, pushing the stock down about 6%. This did coincide with a general market sell-off, which may have over-corrected the reaction. Projections for 2020 were inline and provide room for upside. Let’s take a look at the details and take-aways for investors.
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Alteryx released earnings results for Q4 2019 on February 13, 2020. Overall, results were strong and exceeded expectations. The market responded favorably by driving the stock price up 9.5% the following day to an all-time high. Analysts were positive in their response with raised price targets. Projections for 2020 surpassed estimates, with ample room to outperform. Let’s do a deep-dive of the results.
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Zendesk released earnings results for Q4 2019 on February 6, 2020. Reaction to these results were generally positive. The market bid ZEN stock up slightly the next day, closing up about 0.3%. Analysts were uniform in their reaction, with 6 out of 6 analysts raising their price target and reiterating a buy rating. Projections for 2020 were on target, with room to outperform. Let’s take a deeper look at the results.
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Twilio released earnings results for Q4 2019 on February 5, 2020. These results were met with mixed response. The market clearly expected more, with TWLO stock closing down 7.3% on the following day. Yet, analysts reacted favorably with 6 out of 7 raising their price target and reiterating a buy rating. Let’s dive into the details.
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