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Why Redfin (RDFN) Shares Are Falling Today
Shares of real estate technology company Redfin (NASDAQ:RDFN) fell 27.6% in the afternoon session after the company reported weak third-quarter earnings, which fell short of Wall Street's expectations. The number of brokerage transactions missed, and EBITDA fell short of Wall Street's estimates. The challenging operating environment, characterized by fluctuating mortgage rates and aggressive competitor ad spending, further weakened the performance. As a result, EBITDA guidance came in below expectations, throwing some cold water on the solid revenue guide. Overall, this was a weaker quarter.
Arlo (ARLO) Stock Trades Down, Here Is Why
Shares of home security provider Arlo (NYSE:ARLO) fell 26% in the morning session after the company reported disappointing third-quarter earnings. Its revenue guidance for the next quarter missed expectations, and its EBITDA fell short of Wall Street's estimates.
Doximity (DOCS) Stock Trades Up, Here Is Why
Shares of healthcare professional network Doximity (NYSE:DOCS) jumped 48.2% in the afternoon session after the company reported impressive third-quarter earnings, which blew past analysts' revenue, EPS, and EBITDA expectations.
Why Are Upstart (UPST) Shares Soaring Today
Shares of AI lending platform Upstart (NASDAQ:UPST) jumped 45.2% in the afternoon session after the company reported impressive earnings and provided an encouraging sales outlook for the next quarter which blew past analysts' expectations. Its revenue also outperformed Wall Street's estimates during the quarter. Upstart achieved sequential 43% growth in lending volume, driven by enhancements to its predictive models. These advanced models more accurately assessed creditworthiness, leading to higher conversion rates and increased customer approvals.
Why Toast (TOST) Stock Is Up Today
Shares of restaurant software platform Toast (NYSE:TOST) jumped 22.8% in the afternoon session after the company reported strong third-quarter earnings and provided an optimistic EBITDA forecast for the next quarter, which blew past analysts' expectations.
Why Sweetgreen (SG) Shares Are Trading Lower Today
Shares of casual salad chain Sweetgreen (NYSE:SG) fell 19.9% in the morning session after the company reported weak third-quarter earnings. Its revenue, EBITDA, and EPS missed analysts' expectations along with its full-year EBITDA guidance.
Why Cloudflare (NET) Stock Is Trading Lower Today
Shares of internet security and content delivery network Cloudflare (NYSE:NET) fell 9.1% in the morning session after the company reported third-quarter earnings and provided revenue guidance for the next quarter that missed analysts' expectations by less than 1%. Billings, a key growth indicator, also missed Wall Street's estimates, although cRPO (another topline indicator) beat and accelerated in growth rate compared to last quarter. The company noted that some large deals saw delays in closing.
Why Five9 (FIVN) Stock Is Up Today
Shares of call center software provider Five9 (NASDAQ: FIVN) jumped 24.7% in the morning session after the company reported strong third-quarter earnings. Five9 blew past analysts' sales, EBITDA, and EPS expectations. Notably, subscription revenue growth accelerated 20% year-over-year, driven by the strong uptake of its AI solutions, which increased customer acquisition and expanded the average revenue per user. The company is focused on accelerating subscription revenue, which is mostly recurring, leading to lower customer acquisition costs upon renewal in subsequent years. Consequently, this translates to higher profit margins.
Why Is CarGurus (CARG) Stock Rocketing Higher Today
Shares of online auto marketplace CarGurus (NASDAQ:CARG) jumped 15.2% in the morning session after the company reported impressive third-quarter earnings that blew past analysts' revenue and EBITDA expectations. The improvement in sales was driven by a 15% year-on-year growth in marketplace revenue, showcasing the company's successful focus on customer engagement and dealer retention.
Why Pinterest (PINS) Shares Are Sliding Today
Shares of social commerce platform Pinterest (NYSE: PINS) fell 16.8% in the afternoon session after the company reported underwhelming third-quarter earnings. Pinterest provided revenue guidance for the next quarter, which missed analysts' expectations, and its revenue growth slowed. The company also called out challenges in categories like food and beverage, where broader industry headwinds have led to reduced ad spending.