In today’s briefing:
- Tata Technologies Pre-IPO – Thoughts on Valuation
- Elastic N.V.: Does The Impressive Cloud Growth Make This A ‘Buy’? – Key Drivers
- Ricoh (7752 JP) – Long Term Structural Decliner with a Recent Boost in Inorganic Rev & Profits
- Dell Technologies Inc.: Partnership With Ericsson For Cloud RAN & Other Developments
- Guidewire Software Inc.: Leadership In The Insurance Software Market Is Here To Stay? – Key Drivers
- Broadcom Inc.: Introduction of Wi-Fi RF FEM & Other Developments
- Workday Inc.: Expanding The Global Footprint
- Zscaler Inc.: Is Zero Trust Architecture The Future of Security? – Key Drivers
- MongoDB Inc.: Poised for Further Growth But Is It Too Late To Invest? – Key Drivers
Tata Technologies Pre-IPO – Thoughts on Valuation
- Tata Technologies (TATATECH IN) (TT) is looking to raise around US$600m in its upcoming India IPO.
- Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers.
- We have looked at the company’s past performance and undertaken a peer comparison in our earlier notes. In this note we talk about valuations.
Elastic N.V.: Does The Impressive Cloud Growth Make This A ‘Buy’? – Key Drivers
- Elastic managed to exceed analyst expectations in terms of revenue as well as earnings.
- In Q4, total revenue increased by 19% year over year in constant currency, while Elastic Cloud increased by 30% year over year in constant currency.
- The subscription revenue was $256 million, increasing 16% year over year or 18% in constant currency, and made up 91% of the overall revenue.
Ricoh (7752 JP) – Long Term Structural Decliner with a Recent Boost in Inorganic Rev & Profits
- Large portion of the business is in secular decline and facing pricing pressure
- Ricoh Company Ltd (7752 JP) appears to be losing share in a shrinking market
- Estimates are above overly optimistic guidance making shares look optically inexpensive
Dell Technologies Inc.: Partnership With Ericsson For Cloud RAN & Other Developments
- Dell Technologies managed to exceed analyst expectations in terms of revenue as well as earnings.
- They also made significant strides in their innovation agenda, introducing new cloud platforms, edge solutions, AI collaborations, and security initiatives.
- We give Dell Technologies a ‘Hold’ rating with a revised target price.
Guidewire Software Inc.: Leadership In The Insurance Software Market Is Here To Stay? – Key Drivers
- Guidewire Software delivered a mixed set of results in its most recent result, with revenues falling short of Wall Street expectations but above-par earnings.
- Their third quarter result was highlighted by continuous demand for InsuranceSuite Cloud and ARR and profitability, which exceeded expectations.
- We give Guidewire Software a ‘Hold’ rating with a revised target price.
Broadcom Inc.: Introduction of Wi-Fi RF FEM & Other Developments
- Broadcom delivered a positive result and managed an all-around beat in the last quarter.
- Semiconductor Solutions’ revenue showed an increase, driven by stable growth in core software despite some challenges in the Brocade business.
- They remain confident about their prospects and anticipate continued growth in semiconductor revenue for the upcoming quarter.
Workday Inc.: Expanding The Global Footprint
- Workday managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.
- In the quarter, subscription revenue increased by 20% year over year to $1.53 billion.
- Outside of the United States, overall revenue was $420 million, which represents 25% of total sales.
Zscaler Inc.: Is Zero Trust Architecture The Future of Security? – Key Drivers
- Zscaler managed to exceed analyst expectations in terms of revenue as well as earnings.
- The company’s disciplined approach, high gross retention rates, and high operating income contributed to its success.
- We give Zscaler a ‘Hold’ rating with a revised target price.
MongoDB Inc.: Poised for Further Growth But Is It Too Late To Invest? – Key Drivers
- MongoDB managed to exceed analyst expectations in terms of revenue as well as earnings.
- They continued to execute well and generated impressive revenue growth.
- MongoDB’s flagship product, Atlas, experienced significant year-over-year growth and contributed substantially to the company’s overall revenue.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
