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2021-06-24

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MicroStrategy Buys 13,005 Bitcoin At $37,617 Using Proceeds From First Ever Crypto Junk Bond<blockquote>MicroStrategy利用首只加密垃圾债券的收益以37,617美元的价格购买了13,005只比特币</blockquote>

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it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167438393","repostId":"1159914875","repostType":4,"repost":{"id":"1159914875","kind":"news","pubTimestamp":1624281059,"share":"https://www.laohu8.com/m/news/1159914875?lang=zh_CN&edition=full","pubTime":"2021-06-21 21:10","market":"us","language":"en","title":"MicroStrategy Buys 13,005 Bitcoin At $37,617 Using Proceeds From First Ever Crypto Junk Bond<blockquote>MicroStrategy利用首只加密垃圾债券的收益以37,617美元的价格购买了13,005只比特币</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159914875","media":"zerohedge","summary":"Two weeks afterMicrostrategy announced that it was sellingthe first ever batch of $400 million in (s","content":"<p>Two weeks afterMicrostrategy announced that it was sellingthe first ever batch of $400 million in (subsequentlyupsized to $500 million) junk bonds (6.125% coupon due 2028; by comparison, the average junk bond yields just about 4%) for the sole purpose of buying bitcoin,<b>earlier today MSTR CEO Michael Saylor confirmed that the transaction had been consummated with the company buying 13,005 bitcoin at an average price of $37,617 for a total of $489 million.</b></p><p><blockquote>两周后，MicroStrategy宣布将出售第一批4亿美元（随后扩大至5亿美元）垃圾债券（2028年到期，票面利率为6.125%；相比之下，垃圾债券的平均收益率仅为4%左右），唯一目的是购买比特币，<b>今天早些时候，MSTR首席执行官Michael Saylor证实，交易已经完成，该公司以37,617美元的平均价格购买了13,005辆比特币，总价为4.89亿美元。</b></blockquote></p><p> The transaction has cemented MSTR's status as<b>the largest corporate hodler of bitcoin, with a total of 105,085 bitcoin acquired for $2.741 billion or an average price of $26,080.</b></p><p><blockquote>此次交易巩固了MSTR的地位<b>比特币最大的企业持有者，以27.41亿美元或平均价格26,080美元收购了总共105,085辆比特币。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5eb78c5328d726402152343ac151233\" tg-width=\"510\" tg-height=\"630\"></p><p><blockquote></blockquote></p><p> Putting these numbers in context, the amount purchased using junk bond proceeds was more than $100 million higher than the company’s entire operating cash flow since 2016, according to Bloomberg data; MicroStrategy also announced that it was taking a roughly $284.5 million charge during its next earnings report thanks to losses related to fluctuations in the price of the digital asset. That amounts to more than its cumulative earnings since 2011.</p><p><blockquote>根据彭博社的数据，将这些数字放在背景中，使用垃圾债券收益购买的金额比该公司自2016年以来的整个运营现金流高出1亿多美元；MicroStrategy还宣布，由于与数字资产价格波动相关的损失，它将在下一份收益报告中收取约2.845亿美元的费用。这超过了其自2011年以来的累计收益。</blockquote></p><p> Previously, MSTR already issued convertible bonds worth around $1 billion in its quest to scoop up more of the coins, though this was the first-ever corporate bond sale with proceeds earmarked for such purchases.</p><p><blockquote>此前，MSTR已经发行了价值约10亿美元的可转换债券，以寻求获得更多代币，尽管这是有史以来第一次将收益指定用于此类购买的公司债券销售。</blockquote></p><p> Naturally, news of the offering sparked both praise from the diamond hand crew, as well as scathing criticism from the crypto skeptics:</p><p><blockquote>当然，此次发行的消息既引发了diamond hand工作人员的赞扬，也引发了加密货币怀疑论者的严厉批评：</blockquote></p><p> “The $400 million in debt isn’t being used to fund an acquisition or growth. It’s being used to speculate on a volatile asset,” said Marc Lichtenfeld, chief income strategist at the Oxford Club. “Does MicroStrategy even have a business anymore or is it simply a proxy for Bitcoin -- with borrowed money?”</p><p><blockquote>牛津俱乐部首席收益策略师马克·利希滕菲尔德(Marc Lichtenfeld)表示：“4亿美元的债务并没有用于为收购或增长提供资金。它被用来投机波动性资产。”“MicroStrategy是否还有业务，或者它只是比特币的代理——用借来的钱？”</blockquote></p><p> The answer is obvious, and considering the move in the stock in the past year, it has been a great strategy... so far.</p><p><blockquote>答案是显而易见的，考虑到该股过去一年的走势，这是一个伟大的策略……到目前为止。</blockquote></p><p> News of the offering come in a day when the crypto space tumbled...</p><p><blockquote>此次发行的消息是在加密领域暴跌的一天发布的……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/56d960dbf024a8edf236e8b6dbbdf8f8\" tg-width=\"500\" tg-height=\"258\">... after the latest dose of FUD from China (how many times can Beijing credibly ban bitcoin before investors start asking if this is just a daily jawboning tactic to distract from the disastrous reception of the digital yuan).</p><p><blockquote>...在中国最新一剂FUD之后（在投资者开始质疑这是否只是一种日常的胡言乱语策略之前，中国政府能可信地禁止比特币多少次，以转移人们对数字人民币灾难性接受的注意力）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2c5879516c43c0287caab5fc0cdd9642\" tg-width=\"512\" tg-height=\"210\"></p><p><blockquote></blockquote></p><p> Saylor has been one of leading advocates of converting company cash to Bitcoin, saying that the Federal Reserve’s relaxing of its inflation policy helped convince him to invest MicroStrategy’s reserves. The company’s disclosures around Bitcoin and its foray into the digital-assets space served as one of the catalysts to the coin’s red-hot rally in 2020 and early 2021, before it tumbled last month. The coin on Monday traded just over $32,000 down more than 50% from its mid-April record.</p><p><blockquote>塞勒一直是将公司现金转换为比特币的主要倡导者之一，他表示美联储放松通胀政策有助于说服他投资MicroStrategy的储备。该公司在比特币方面的披露以及对数字资产领域的进军是该币在2020年和2021年初火热上涨的催化剂之一，随后上个月暴跌。周一，该代币的交易价格略高于32,000美元，较4月中旬的纪录下跌了50%以上。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MicroStrategy Buys 13,005 Bitcoin At $37,617 Using Proceeds From First Ever Crypto Junk Bond<blockquote>MicroStrategy利用首只加密垃圾债券的收益以37,617美元的价格购买了13,005只比特币</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicroStrategy Buys 13,005 Bitcoin At $37,617 Using Proceeds From First Ever Crypto Junk Bond<blockquote>MicroStrategy利用首只加密垃圾债券的收益以37,617美元的价格购买了13,005只比特币</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-21 21:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Two weeks afterMicrostrategy announced that it was sellingthe first ever batch of $400 million in (subsequentlyupsized to $500 million) junk bonds (6.125% coupon due 2028; by comparison, the average junk bond yields just about 4%) for the sole purpose of buying bitcoin,<b>earlier today MSTR CEO Michael Saylor confirmed that the transaction had been consummated with the company buying 13,005 bitcoin at an average price of $37,617 for a total of $489 million.</b></p><p><blockquote>两周后，MicroStrategy宣布将出售第一批4亿美元（随后扩大至5亿美元）垃圾债券（2028年到期，票面利率为6.125%；相比之下，垃圾债券的平均收益率仅为4%左右），唯一目的是购买比特币，<b>今天早些时候，MSTR首席执行官Michael Saylor证实，交易已经完成，该公司以37,617美元的平均价格购买了13,005辆比特币，总价为4.89亿美元。</b></blockquote></p><p> The transaction has cemented MSTR's status as<b>the largest corporate hodler of bitcoin, with a total of 105,085 bitcoin acquired for $2.741 billion or an average price of $26,080.</b></p><p><blockquote>此次交易巩固了MSTR的地位<b>比特币最大的企业持有者，以27.41亿美元或平均价格26,080美元收购了总共105,085辆比特币。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/b5eb78c5328d726402152343ac151233\" tg-width=\"510\" tg-height=\"630\"></p><p><blockquote></blockquote></p><p> Putting these numbers in context, the amount purchased using junk bond proceeds was more than $100 million higher than the company’s entire operating cash flow since 2016, according to Bloomberg data; MicroStrategy also announced that it was taking a roughly $284.5 million charge during its next earnings report thanks to losses related to fluctuations in the price of the digital asset. That amounts to more than its cumulative earnings since 2011.</p><p><blockquote>根据彭博社的数据，将这些数字放在背景中，使用垃圾债券收益购买的金额比该公司自2016年以来的整个运营现金流高出1亿多美元；MicroStrategy还宣布，由于与数字资产价格波动相关的损失，它将在下一份收益报告中收取约2.845亿美元的费用。这超过了其自2011年以来的累计收益。</blockquote></p><p> Previously, MSTR already issued convertible bonds worth around $1 billion in its quest to scoop up more of the coins, though this was the first-ever corporate bond sale with proceeds earmarked for such purchases.</p><p><blockquote>此前，MSTR已经发行了价值约10亿美元的可转换债券，以寻求获得更多代币，尽管这是有史以来第一次将收益指定用于此类购买的公司债券销售。</blockquote></p><p> Naturally, news of the offering sparked both praise from the diamond hand crew, as well as scathing criticism from the crypto skeptics:</p><p><blockquote>当然，此次发行的消息既引发了diamond hand工作人员的赞扬，也引发了加密货币怀疑论者的严厉批评：</blockquote></p><p> “The $400 million in debt isn’t being used to fund an acquisition or growth. It’s being used to speculate on a volatile asset,” said Marc Lichtenfeld, chief income strategist at the Oxford Club. “Does MicroStrategy even have a business anymore or is it simply a proxy for Bitcoin -- with borrowed money?”</p><p><blockquote>牛津俱乐部首席收益策略师马克·利希滕菲尔德(Marc Lichtenfeld)表示：“4亿美元的债务并没有用于为收购或增长提供资金。它被用来投机波动性资产。”“MicroStrategy是否还有业务，或者它只是比特币的代理——用借来的钱？”</blockquote></p><p> The answer is obvious, and considering the move in the stock in the past year, it has been a great strategy... so far.</p><p><blockquote>答案是显而易见的，考虑到该股过去一年的走势，这是一个伟大的策略……到目前为止。</blockquote></p><p> News of the offering come in a day when the crypto space tumbled...</p><p><blockquote>此次发行的消息是在加密领域暴跌的一天发布的……</blockquote></p><p> <img src=\"https://static.tigerbbs.com/56d960dbf024a8edf236e8b6dbbdf8f8\" tg-width=\"500\" tg-height=\"258\">... after the latest dose of FUD from China (how many times can Beijing credibly ban bitcoin before investors start asking if this is just a daily jawboning tactic to distract from the disastrous reception of the digital yuan).</p><p><blockquote>...在中国最新一剂FUD之后（在投资者开始质疑这是否只是一种日常的胡言乱语策略之前，中国政府能可信地禁止比特币多少次，以转移人们对数字人民币灾难性接受的注意力）。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2c5879516c43c0287caab5fc0cdd9642\" tg-width=\"512\" tg-height=\"210\"></p><p><blockquote></blockquote></p><p> Saylor has been one of leading advocates of converting company cash to Bitcoin, saying that the Federal Reserve’s relaxing of its inflation policy helped convince him to invest MicroStrategy’s reserves. The company’s disclosures around Bitcoin and its foray into the digital-assets space served as one of the catalysts to the coin’s red-hot rally in 2020 and early 2021, before it tumbled last month. The coin on Monday traded just over $32,000 down more than 50% from its mid-April record.</p><p><blockquote>塞勒一直是将公司现金转换为比特币的主要倡导者之一，他表示美联储放松通胀政策有助于说服他投资MicroStrategy的储备。该公司在比特币方面的披露以及对数字资产领域的进军是该币在2020年和2021年初火热上涨的催化剂之一，随后上个月暴跌。周一，该代币的交易价格略高于32,000美元，较4月中旬的纪录下跌了50%以上。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/crypto/microstrategy-buys-13005-bitcoin-37617-using-proceeds-first-ever-crypto-junk-bond\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSTR":"Strategy"},"source_url":"https://www.zerohedge.com/crypto/microstrategy-buys-13005-bitcoin-37617-using-proceeds-first-ever-crypto-junk-bond","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159914875","content_text":"Two weeks afterMicrostrategy announced that it was sellingthe first ever batch of $400 million in (subsequentlyupsized to $500 million) junk bonds (6.125% coupon due 2028; by comparison, the average junk bond yields just about 4%) for the sole purpose of buying bitcoin,earlier today MSTR CEO Michael Saylor confirmed that the transaction had been consummated with the company buying 13,005 bitcoin at an average price of $37,617 for a total of $489 million.\nThe transaction has cemented MSTR's status asthe largest corporate hodler of bitcoin, with a total of 105,085 bitcoin acquired for $2.741 billion or an average price of $26,080.\n\nPutting these numbers in context, the amount purchased using junk bond proceeds was more than $100 million higher than the company’s entire operating cash flow since 2016, according to Bloomberg data; MicroStrategy also announced that it was taking a roughly $284.5 million charge during its next earnings report thanks to losses related to fluctuations in the price of the digital asset. That amounts to more than its cumulative earnings since 2011.\nPreviously, MSTR already issued convertible bonds worth around $1 billion in its quest to scoop up more of the coins, though this was the first-ever corporate bond sale with proceeds earmarked for such purchases.\nNaturally, news of the offering sparked both praise from the diamond hand crew, as well as scathing criticism from the crypto skeptics:\n“The $400 million in debt isn’t being used to fund an acquisition or growth. It’s being used to speculate on a volatile asset,” said Marc Lichtenfeld, chief income strategist at the Oxford Club. “Does MicroStrategy even have a business anymore or is it simply a proxy for Bitcoin -- with borrowed money?”\nThe answer is obvious, and considering the move in the stock in the past year, it has been a great strategy... so far.\nNews of the offering come in a day when the crypto space tumbled...\n... after the latest dose of FUD from China (how many times can Beijing credibly ban bitcoin before investors start asking if this is just a daily jawboning tactic to distract from the disastrous reception of the digital yuan).\n\nSaylor has been one of leading advocates of converting company cash to Bitcoin, saying that the Federal Reserve’s relaxing of its inflation policy helped convince him to invest MicroStrategy’s reserves. The company’s disclosures around Bitcoin and its foray into the digital-assets space served as one of the catalysts to the coin’s red-hot rally in 2020 and early 2021, before it tumbled last month. The coin on Monday traded just over $32,000 down more than 50% from its mid-April record.","news_type":1,"symbols_score_info":{"MSTR":0.9}},"isVote":1,"tweetType":1,"viewCount":2926,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165429048,"gmtCreate":1624155308484,"gmtModify":1634010177527,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581769825753280","idStr":"3581769825753280"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/113902823","repostId":"2140626460","repostType":4,"isVote":1,"tweetType":1,"viewCount":276,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162755323,"gmtCreate":1624077241762,"gmtModify":1634010969769,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Pls comment","listText":"Pls comment","text":"Pls 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it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":1,"link":"https://laohu8.com/post/160419616","repostId":"2143765560","repostType":4,"isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110449889,"gmtCreate":1622500642641,"gmtModify":1634101154066,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Pls like and comment","listText":"Pls like and comment","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/110449889","repostId":"2139430866","repostType":4,"isVote":1,"tweetType":1,"viewCount":180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117044007,"gmtCreate":1623111657309,"gmtModify":1634036891554,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Pls comment","listText":"Pls comment","text":"Pls comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/117044007","repostId":"2141222253","repostType":4,"repost":{"id":"2141222253","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1623111019,"share":"https://www.laohu8.com/m/news/2141222253?lang=zh_CN&edition=full","pubTime":"2021-06-08 08:10","market":"us","language":"en","title":"Coupa Stock Falls As Software Maker's Revenue Outlook Edges By Estimates<blockquote>由于软件制造商的收入前景低于预期，Coupa股价下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2141222253","media":"Investors","summary":"Coupa stock fell after the software maker reported Q1 earnings that fell from a year earlier but topped analyst estimates while its revenue guidance edged by expectations.","content":"<p><b>Coupa Software</b> on Monday reported first-quarter earnings that fell from a year earlier but topped analyst estimates, as did revenue. Coupa stock dropped in extended trading, though, as its revenue guidance only edged by Wall Street targets.</p><p><blockquote><b>Coupa软件</b>周一公布的第一季度盈利同比下降，但超出分析师预期，营收也是如此。不过，Coupa股价在盘后交易中下跌，因为其收入指引仅略低于华尔街目标。</blockquote></p><p>San Mateo, Calif.-based Coupa earnings on an adjusted basis fell to 7 cents for the quarter ended April 30 amid the acquisition of LLamasoft for $1.5 billion.</p><p><blockquote>由于以15亿美元收购了LLamasoft，总部位于加利福尼亚州圣马特奥的Coupa截至4月30日的季度调整后收益降至7美分。</blockquote></p><p>Revenue rose 40% to $166.9 million, said the maker of business spending management software. Analysts expected the Coupa earnings report to have a loss of 19 cents on revenue of $152.7 million.</p><p><blockquote>这家商业支出管理软件制造商表示，收入增长了40%，达到1.669亿美元。分析师预计Coupa财报将亏损19美分，营收为1.527亿美元。</blockquote></p><p>A year earlier, Coupa earned 20 cents a share on sales of $119.2 million.</p><p><blockquote>一年前，Coupa每股收益20美分，销售额为1.192亿美元。</blockquote></p><p>Coupa stock fell 5.2% to near 224.50 in extended trading on the stock market today.</p><p><blockquote>今天股市盘后交易中，Coupa股价下跌5.2%，至224.50点附近。</blockquote></p><p>For the current quarter ending in July, Coupa forecast revenue of $162.5 million at the midpoint of its guidance vs. estimates of $161.8 million.</p><p><blockquote>对于截至7月的本季度，Coupa预测收入为1.625亿美元，处于指导中点，而预期为1.618亿美元。</blockquote></p><p><h2>Coupa Stock: Analyst Day Set For July 15</h2>In addition to purchasing LLamasoft, Coupa has acquired Hipperos, Exari and Yapta since late 2018.</p><p><blockquote><h2>Coupa股票：分析师日定于7月15日</h2>除了收购LLamasoft，Coupa自2018年底以来还收购了Hipperos、Exari和Yapta。</blockquote></p><p>Coupa plans to hold an analyst day on July 15 to discuss long-term strategy, said a <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> report</p><p><blockquote>Coupa计划于7月15日举行分析师日，讨论长期战略<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>报告</blockquote></p><p>Heading into the Coupa earnings report, the company's stock owned a Relative Strength Rating of 6 out of a possible 99, according to IBD MarketSmith analysis.</p><p><blockquote>根据IBD MarketSmith的分析，在Coupa收益报告发布之前，该公司股票的相对强度评级为6分（满分99分）。</blockquote></p><p>Coupa stock had retreated some 37% from its all-time high of 377.04 set on Feb. 18 amid a pull-back in software growth stocks.</p><p><blockquote>由于软件成长型股票回调，Coupa股价已较2月18日创下的历史高点377.04点下跌约37%。</blockquote></p><p><h2>Coupa Rivals</h2>Coupa's software products cover employee travel and expense management, procurement and invoicing.</p><p><blockquote><h2>对手杯</h2>Coupa的软件产品涵盖员工差旅和费用管理、采购和发票。</blockquote></p><p>The company in 2018 rolled out&nbsp;Coupa Pay, a business-to-business payment and financing product.</p><p><blockquote>该公司于2018年推出了企业对企业支付和融资产品Coupa Pay。</blockquote></p><p>Coupa competes against<b> SAP</b>'s Ariba unit,<b> Fleetcor</b>'s Nvoicepay, and AvidXchange. A new rival is <b><a href=\"https://laohu8.com/S/WDAY\">Workday</a></b>, which acquired Scout RFP.</p><p><blockquote>Coupa与<b>SAP</b>的Ariba单位，<b>弗利特科尔</b>Nvoicepay和AvidXchange。一个新的对手是<b><a href=\"https://laohu8.com/S/WDAY\">工作日</a></b>，收购了Scout RFP。</blockquote></p><p>How This IBD Tool Simplifies The Search For Top Stocks</p><p><blockquote>该IBD工具如何简化顶级股票的搜索</blockquote></p><p>Find Compelling Growth Stocks With IBD's Stock Of The Day</p><p><blockquote>通过IBD每日股票寻找引人注目的成长型股票</blockquote></p><p>Get A Free Trial Of IBD Leaderboard</p><p><blockquote>免费试用IBD排行榜</blockquote></p><p>Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists</p><p><blockquote>最值得购买和关注的成长型股票：查看IBD股票列表的更新</blockquote></p><p>Chart Reading For Beginners: Nvidia, Amazon, Pinterest Reveal This Key Investing Skill</p><p><blockquote>适合初学者的图表阅读：Nvidia、Amazon、Pinterest揭示了这一关键投资技巧</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coupa Stock Falls As Software Maker's Revenue Outlook Edges By Estimates<blockquote>由于软件制造商的收入前景低于预期，Coupa股价下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoupa Stock Falls As Software Maker's Revenue Outlook Edges By Estimates<blockquote>由于软件制造商的收入前景低于预期，Coupa股价下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time smaller\">2021-06-08 08:10</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Coupa Software</b> on Monday reported first-quarter earnings that fell from a year earlier but topped analyst estimates, as did revenue. Coupa stock dropped in extended trading, though, as its revenue guidance only edged by Wall Street targets.</p><p><blockquote><b>Coupa软件</b>周一公布的第一季度盈利同比下降，但超出分析师预期，营收也是如此。不过，Coupa股价在盘后交易中下跌，因为其收入指引仅略低于华尔街目标。</blockquote></p><p>San Mateo, Calif.-based Coupa earnings on an adjusted basis fell to 7 cents for the quarter ended April 30 amid the acquisition of LLamasoft for $1.5 billion.</p><p><blockquote>由于以15亿美元收购了LLamasoft，总部位于加利福尼亚州圣马特奥的Coupa截至4月30日的季度调整后收益降至7美分。</blockquote></p><p>Revenue rose 40% to $166.9 million, said the maker of business spending management software. Analysts expected the Coupa earnings report to have a loss of 19 cents on revenue of $152.7 million.</p><p><blockquote>这家商业支出管理软件制造商表示，收入增长了40%，达到1.669亿美元。分析师预计Coupa财报将亏损19美分，营收为1.527亿美元。</blockquote></p><p>A year earlier, Coupa earned 20 cents a share on sales of $119.2 million.</p><p><blockquote>一年前，Coupa每股收益20美分，销售额为1.192亿美元。</blockquote></p><p>Coupa stock fell 5.2% to near 224.50 in extended trading on the stock market today.</p><p><blockquote>今天股市盘后交易中，Coupa股价下跌5.2%，至224.50点附近。</blockquote></p><p>For the current quarter ending in July, Coupa forecast revenue of $162.5 million at the midpoint of its guidance vs. estimates of $161.8 million.</p><p><blockquote>对于截至7月的本季度，Coupa预测收入为1.625亿美元，处于指导中点，而预期为1.618亿美元。</blockquote></p><p><h2>Coupa Stock: Analyst Day Set For July 15</h2>In addition to purchasing LLamasoft, Coupa has acquired Hipperos, Exari and Yapta since late 2018.</p><p><blockquote><h2>Coupa股票：分析师日定于7月15日</h2>除了收购LLamasoft，Coupa自2018年底以来还收购了Hipperos、Exari和Yapta。</blockquote></p><p>Coupa plans to hold an analyst day on July 15 to discuss long-term strategy, said a <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> report</p><p><blockquote>Coupa计划于7月15日举行分析师日，讨论长期战略<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>报告</blockquote></p><p>Heading into the Coupa earnings report, the company's stock owned a Relative Strength Rating of 6 out of a possible 99, according to IBD MarketSmith analysis.</p><p><blockquote>根据IBD MarketSmith的分析，在Coupa收益报告发布之前，该公司股票的相对强度评级为6分（满分99分）。</blockquote></p><p>Coupa stock had retreated some 37% from its all-time high of 377.04 set on Feb. 18 amid a pull-back in software growth stocks.</p><p><blockquote>由于软件成长型股票回调，Coupa股价已较2月18日创下的历史高点377.04点下跌约37%。</blockquote></p><p><h2>Coupa Rivals</h2>Coupa's software products cover employee travel and expense management, procurement and invoicing.</p><p><blockquote><h2>对手杯</h2>Coupa的软件产品涵盖员工差旅和费用管理、采购和发票。</blockquote></p><p>The company in 2018 rolled out&nbsp;Coupa Pay, a business-to-business payment and financing product.</p><p><blockquote>该公司于2018年推出了企业对企业支付和融资产品Coupa Pay。</blockquote></p><p>Coupa competes against<b> SAP</b>'s Ariba unit,<b> Fleetcor</b>'s Nvoicepay, and AvidXchange. A new rival is <b><a href=\"https://laohu8.com/S/WDAY\">Workday</a></b>, which acquired Scout RFP.</p><p><blockquote>Coupa与<b>SAP</b>的Ariba单位，<b>弗利特科尔</b>Nvoicepay和AvidXchange。一个新的对手是<b><a href=\"https://laohu8.com/S/WDAY\">工作日</a></b>，收购了Scout RFP。</blockquote></p><p>How This IBD Tool Simplifies The Search For Top Stocks</p><p><blockquote>该IBD工具如何简化顶级股票的搜索</blockquote></p><p>Find Compelling Growth Stocks With IBD's Stock Of The Day</p><p><blockquote>通过IBD每日股票寻找引人注目的成长型股票</blockquote></p><p>Get A Free Trial Of IBD Leaderboard</p><p><blockquote>免费试用IBD排行榜</blockquote></p><p>Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists</p><p><blockquote>最值得购买和关注的成长型股票：查看IBD股票列表的更新</blockquote></p><p>Chart Reading For Beginners: Nvidia, Amazon, Pinterest Reveal This Key Investing Skill</p><p><blockquote>适合初学者的图表阅读：Nvidia、Amazon、Pinterest揭示了这一关键投资技巧</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COUP":"Coupa Software Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141222253","content_text":"Coupa Software on Monday reported first-quarter earnings that fell from a year earlier but topped analyst estimates, as did revenue. Coupa stock dropped in extended trading, though, as its revenue guidance only edged by Wall Street targets.San Mateo, Calif.-based Coupa earnings on an adjusted basis fell to 7 cents for the quarter ended April 30 amid the acquisition of LLamasoft for $1.5 billion.Revenue rose 40% to $166.9 million, said the maker of business spending management software. Analysts expected the Coupa earnings report to have a loss of 19 cents on revenue of $152.7 million.A year earlier, Coupa earned 20 cents a share on sales of $119.2 million.Coupa stock fell 5.2% to near 224.50 in extended trading on the stock market today.For the current quarter ending in July, Coupa forecast revenue of $162.5 million at the midpoint of its guidance vs. estimates of $161.8 million.Coupa Stock: Analyst Day Set For July 15In addition to purchasing LLamasoft, Coupa has acquired Hipperos, Exari and Yapta since late 2018.Coupa plans to hold an analyst day on July 15 to discuss long-term strategy, said a Morgan Stanley reportHeading into the Coupa earnings report, the company's stock owned a Relative Strength Rating of 6 out of a possible 99, according to IBD MarketSmith analysis.Coupa stock had retreated some 37% from its all-time high of 377.04 set on Feb. 18 amid a pull-back in software growth stocks.Coupa RivalsCoupa's software products cover employee travel and expense management, procurement and invoicing.The company in 2018 rolled out Coupa Pay, a business-to-business payment and financing product.Coupa competes against SAP's Ariba unit, Fleetcor's Nvoicepay, and AvidXchange. A new rival is Workday, which acquired Scout RFP.How This IBD Tool Simplifies The Search For Top StocksFind Compelling Growth Stocks With IBD's Stock Of The DayGet A Free Trial Of IBD LeaderboardBest Growth Stocks To Buy And Watch: See Updates To IBD Stock ListsChart Reading For Beginners: Nvidia, Amazon, Pinterest Reveal This Key Investing Skill","news_type":1,"symbols_score_info":{"COUP":0.9}},"isVote":1,"tweetType":1,"viewCount":273,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115248161,"gmtCreate":1623018938053,"gmtModify":1634096295311,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Pls comment","listText":"Pls comment","text":"Pls comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/115248161","repostId":"1120164826","repostType":4,"repost":{"id":"1120164826","kind":"news","pubTimestamp":1622951745,"share":"https://www.laohu8.com/m/news/1120164826?lang=zh_CN&edition=full","pubTime":"2021-06-06 11:55","market":"us","language":"en","title":"Zillow: Significant Downside Remains<blockquote>Zillow：仍存在重大下行空间</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120164826","media":"seekingalpha","summary":"Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was publishe","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Shares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.</li>  <li>However, and despite a definite improvement in the latest Q1 EPS report, the stock looks to have a further downside to come.</li>  <li>That is because margins are dismal, forward adjusted EBITDA guidance for Q2 was weak (lower than Q1), and the outstanding share count continues to grow.</li>  <li>Yet, the stock still trades with a forward P/E of nearly 100x.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ba2b4c631e3e6b24aaf024fb49665ea3\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>自从我在Seeking Alpha上发表“获利了结”文章以来，Zillow Group的股价已下跌约30%。</li><li>然而，尽管最新的第一季度每股收益报告明显改善，但该股看起来还会进一步下跌。</li><li>这是因为利润率惨淡，第二季度的前瞻性调整EBITDA指引疲弱（低于第一季度），而且流通股数量持续增长。</li><li>然而，该股的预期市盈率仍接近100倍。</li></ul><p class=\"t-img-caption\"><span>摄影：Sundry Photography/iStock社论来自Getty Images</span></p></blockquote></p><p> The&nbsp;<b>Zillow Group</b>&nbsp;(ZG) has, without a doubt, established itself as the #1 online real estate website and as one-stop shop for home-buying consumers. The company's recent pivot to what I'll call the iHome business (purchasing homes directly from consumers and then selling them on the open market) has been a positive catalyst of late in terms of revenue growth, and that business blends well with ZG's Mortgage Segment and Internet, Media, and Technology Segment. However, despite the recent and significant drop in the price of the shares, ZG still seem substantially overvalued in my opinion. That is because margins are - in a word - pathetic. In addition, Q2 guidance was weak and the company plans to hire an additional 2,000 employees this year. In my opinion, that will pressure margins even further through the remainder of the year.</p><p><blockquote>The<b>Zillow集团</b>毫无疑问，（ZG）已经成为排名第一的在线房地产网站和购房消费者的一站式商店。该公司最近转向看涨期权iHome业务（直接从消费者那里购买房屋，然后在公开市场上出售），这是最近收入增长的积极催化剂，该业务与ZG的抵押贷款业务融合得很好。部门以及互联网、媒体和技术部门。然而，尽管最近股价大幅下跌，但在我看来，ZG的估值似乎仍然被严重高估。这是因为利润率——一言以蔽之——可怜。此外，Q2指引疲弱，公司计划今年再增聘2000名员工。在我看来，这将在今年剩余时间里进一步给利润率带来压力。</blockquote></p><p> <b>Investment Rationale</b></p><p><blockquote><b>投资理由</b></blockquote></p><p> Like many Americans, Zillow has become one of my favorite websites. I am surely not alone when it comes to frequently checking Zillow.com to see what the current \"Zestimate\" is for my home as well as for the homes I have owned in the past, and those of my friends and family.</p><p><blockquote>像许多美国人一样，Zillow已经成为我最喜欢的网站之一。我肯定不是唯一一个经常查看Zillow.com以了解我的家以及我过去拥有的家以及我的朋友和家人的家的当前“Zestimate”是多少的人。</blockquote></p><p> Indeed, marketing share data from Statista shows that Zillow is #1 in unique monthly visits, and Trulia - which the Zillow Group bought in 2014 - is #2. In aggregate that gives the Zillow group a stranglehold on the real estate website market (at least by the unique visits metric) at more than 3x the share as compared to what was once a highly competitive race with Realtor.com for consumers' eye-balls:</p><p><blockquote>事实上，Statista的营销份额数据显示，Zillow在每月独立访问量方面排名第一，Zillow集团在2014年收购的Trulia排名第二。总体而言，与曾经与Realtor.com争夺消费者眼球的激烈竞争相比，Zillow集团在房地产网站市场（至少从独立访问量指标来看）的份额是其3倍以上：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/929acb56fa1d566e5f6c3ac0d250c2c2\" tg-width=\"640\" tg-height=\"553\"><span>Source:Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：斯塔蒂斯塔</span></p></blockquote></p><p> But of course there are other metrics to judge the popularity and use of real estate websites. Here is more recent data (April 1, 2021) from SimilarWeb.com:</p><p><blockquote>但当然还有其他指标来判断房地产网站的受欢迎程度和使用情况。以下是来自SimilarWeb.com的最新数据（2021年4月1日）：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/836f372f61ccb570286e9ac3e0f3143b\" tg-width=\"640\" tg-height=\"366\"><span>Source:SimilarWeb.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：SimilarWeb.com</span></p></blockquote></p><p> When it comes to average visit duration, pages viewed per visit, and bounce rate (the % of consumers that only view one-page then leave the site), Zillow and Trulia again show impressive comps. That said, note there must be other metrics that figure into the SimilarWeb ratings shown above because - from these metrics alone - one could argue rightmove.co.uk has the best stats as shown. Regardless, this graphic is another indicator that the Zillow/Trulia brand is very strong and the market leader.</p><p><blockquote>当谈到平均访问持续时间、每次访问浏览的页面和跳出率（只浏览一页然后离开网站的消费者的百分比）时，Zillow和Trulia再次显示出令人印象深刻的对比。也就是说，请注意，上面显示的SimilarWeb评级中肯定有其他指标，因为仅从这些指标来看，人们就可以认为rightmove.co.uk拥有如图所示的最佳统计数据。无论如何，这张图是Zillow/Trulia品牌非常强大并且是市场领导者的另一个指标。</blockquote></p><p> However, eye-balls aren't enough ... the views and activity need to be converted into profits, and that is where the Zillow Group is struggling in comparison to its rather lofty valuation.</p><p><blockquote>然而，眼球是不够的...观点和活动需要转化为利润，而这正是Zillow集团与其相当高的估值相比所苦苦挣扎的地方。</blockquote></p><p> <b>Q1 Earnings</b></p><p><blockquote><b>第一季度收益</b></blockquote></p><p> Zillow released its&nbsp;Q1 EPS report&nbsp;on May 4th. It was a strong report. GAAP net-income of $0.20/share&nbsp;beat estimates by a whopping $0.13. Revenue of $1.22 billion was a $120 million beat and was up 8% yoy. The company reported strong traffic on its website and mobile apps, with 221 million average monthly users (up 15% yoy) driving 2.5 billion visits during Q1 (up 19% yoy).</p><p><blockquote>Zillow于5月4日发布了第一季度EPS报告。这是一份强有力的报告。GAAP每股净利润为0.20美元，比预期高出0.13美元。收入为12.2亿美元，超出1.2亿美元，同比增长8%。该公司报告称，其网站和移动应用程序流量强劲，第一季度平均每月用户2.21亿（同比增长15%），访问量达25亿次（同比增长19%）。</blockquote></p><p> The most interesting segment in Q1 was the iHome (or what ZG calls \"Zillow Offers\") because it accounted for ~57% of revenue and is the segment Zillow is counting on to be is profitable growth engine.</p><p><blockquote>第一季度最有趣的细分市场是iHome（或ZG评级“Zillow提供的”），因为它约占收入的57%，并且是Zillow指望成为盈利增长引擎的细分市场。</blockquote></p><p> However, as can be seen in the graphic below, the margins are - so far - quite puny:</p><p><blockquote>然而，如下图所示，到目前为止，利润率相当小：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82e5264c5427eb9f8b1987c2182cb39a\" tg-width=\"640\" tg-height=\"311\"><span>Source: Zillow'sQ1 EPS report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Zillow第一季度每股收益报告</span></p></blockquote></p><p></p><p> As can be seen, the all-in return (after operating costs and interest expense) on the home buying/selling (flipping might be a better word) is a scant 4.94% of the average per-home revenue. That is despite what is generally considered to be a very hot-market real estate market across the nation. In addition, note the iHome business is a threat to the company's future growth aspirations because the pivot to iHome has pretty much cratered the company's Premier Agent business. The pivot also likely means more pressure on Zillow's advertising revenue which generally comes from the agents its iHome segment is now stealing away homes from. And all that for only 4.9% margins?</p><p><blockquote>可以看出，房屋买卖（翻转可能是一个更好的词）的总回报（扣除运营成本和利息支出）不到平均每户收入的4.94%。尽管全国房地产市场普遍被认为非常火爆。此外，请注意，iHome业务对公司未来的增长愿望构成威胁，因为转向iHome几乎损害了公司的首要代理业务。这一转变也可能意味着Zillow的广告收入面临更大压力，这些收入通常来自其iHome部门目前正在抢走房屋的代理商。而这一切的利润率只有4.9%？</blockquote></p><p> <b>Going Forward</b></p><p><blockquote><b>展望未来</b></blockquote></p><p> The chart below is the company's guidance for Q2:</p><p><blockquote>下图是该公司第二季度的指引：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d976a71e1e72bb8f0c6ac3306aa4f100\" tg-width=\"628\" tg-height=\"337\"><span>Source: Zillow's Q1 EPS report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Zillow第一季度每股收益报告</span></p></blockquote></p><p> At the midpoint of guidance total adjusted EBITDA ($128 million), note that&nbsp;<b>will be down considerably</b>&nbsp;from the $181 million in total adjusted EBITDA delivered in Q1.</p><p><blockquote>在指导调整后EBITDA总额（1.28亿美元）的中点，请注意<b>将大幅下降</b>第一季度调整后EBITDA总额为1.81亿美元。</blockquote></p><p> In addition, note the weighted average share-count at the end of Q1 (it was not included in the Q1 EPS report, but can be found in the&nbsp;SEC 10-Q filing) was 259,346,000 shares (up a whopping 23% yoy). And that share-count is expected to continue growing to an estimated 265.5 million shares at the end of Q2 (based on the guidance shown above).</p><p><blockquote>此外，请注意，第一季度末的加权平均股数（未包含在第一季度每股收益报告中，但可以在SEC 10-Q文件中找到）为259,346,000股（同比增长23%）。预计到第二季度末，该股数量将继续增长至约2.655亿股（基于上述指导）。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> So we have weak margins, falling adjusted EBITDA and a significantly rising number of fully diluted shares. Hmmmm.</p><p><blockquote>因此，我们的利润率疲软，调整后的EBITDA下降，而完全稀释的股票数量大幅增加。嗯嗯。</blockquote></p><p> Yet, despite the recent correction in the stock (note the stock is down ~30% since my Seeking Alpha article in March&nbsp;<i>Zillow: Take Profits</i>), the stock is still trading at a lofty valuation given the analysis of Q1 and Q2 guidance just presented. The&nbsp;Seeking Alpha forward P/E=97.7x.</p><p><blockquote>然而，尽管该股最近有所调整（请注意，自我3月份的Seeking Alpha文章以来，该股已下跌约30%<i>Zillow：获利了结</i>），考虑到刚刚提出的第一季度和第二季度指引的分析，该股的估值仍然很高。寻求阿尔法远期市盈率=97.7倍。</blockquote></p><p> That is obviously a rich comparison in terms of Zillow's growth prospects (or non-growth...) considering the weak Q2 guidance. In addition, it is not clear to me what the catalyst will be to improve the company's awfully small margins going forward. That is especially the case considering&nbsp;<b>Zillow plans to hire an additional 2,000 employees this year</b>, increasing its headcount by some 40%. In my opinion, this headcount growth will be a significant headwind when it comes to increasing margins. That is, Zillow is not able to demonstrate increasing margins as it tries to scale-up its operations.</p><p><blockquote>考虑到疲软的第二季度指引，就Zillow的增长前景（或非增长……）而言，这显然是一个丰富的比较。此外，我不清楚改善公司未来微薄利润率的催化剂是什么。考虑到这一点尤其如此<b>Zillow计划今年再增聘2000名员工</b>，员工人数增加约40%。在我看来，在提高利润率方面，员工人数的增长将是一个重大阻力。也就是说，Zillow在试图扩大业务规模时无法证明利润率不断增加。</blockquote></p><p> Meantime, the pivot to iHome also means that ZG now has significantly more macro-level risks as it will be increasingly dependent on the ups (now..) and downs (coming...) of the housing market.</p><p><blockquote>与此同时，转向iHome也意味着ZG现在面临更多的宏观层面风险，因为它将越来越依赖于房地产市场的起伏（现在……）。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> The risk of buying Zillow Group today is - in my opinion, a priced-to-near-perfection valuation level. I say \"near perfection\" because it was priced to perfection when I wrote my \"Take Profits\" article on ZG, and since it is down 30% since that piece was published, now I will simply call ZG a \"rich valuation\" proposition.</p><p><blockquote>在我看来，今天购买Zillow Group的风险是定价接近完美的估值水平。我说“接近完美”是因为当我写关于ZG的“获利了结”文章时，它的定价已经达到了完美，而且自从那篇文章发表以来，它已经下跌了30%，现在我将简单地看涨期权ZG一个“丰富的估值”命题。</blockquote></p><p> The goods news is that Zillow has a relatively strong balance sheet: it ended the quarter with $4.7 billion in cash (up from $3.9 billion at the end of 2020) after completing a $551 million stock offering during the quarter.</p><p><blockquote>好消息是，Zillow的资产负债表相对强劲：在本季度完成了5.51亿美元的股票发行后，该公司在本季度末拥有47亿美元现金（高于2020年底的39亿美元）。</blockquote></p><p> That compares to $2.259 billion in debt, which was down slightly from year-end. As a result, the company has an estimated $9.19/share in net cash based on the 265.5 million diluted shares outstanding at the end of Q1. And Zillow will likely need to keep a fair amount of cash in order to offset its higher risk profile due to direct exposure to the housing market. That is because history shows us the US housing market can change on-a-dime and could catch ZG holding a rather large inventory of homes.</p><p><blockquote>相比之下，债务为22.59亿美元，较年底略有下降。因此，根据第一季度末已发行的2.655亿股稀释后股票，该公司估计每股净现金为9.19美元。Zillow可能需要保留相当数量的现金，以抵消其因直接投资房地产市场而面临的较高风险。这是因为历史告诉我们，美国房地产市场可能会随时发生变化，并且可能会让ZG持有相当大的房屋库存。</blockquote></p><p> <b>Summary &amp; Conclusion</b></p><p><blockquote><b>总结和结论</b></blockquote></p><p> While Zillow's Q1 report was certainly much improved on a sequential basis, the company's own Q2 guidance seems to be more indicative of the thesis I presented in my last article on the company. That is, the stock's valuation simply appears to be substantially out-of-whack in comparison to its demonstrated growth metrics. More shares, falling sequential adjusted EBITDA in Q2 despite a hot and highly appreciating housing market and ... well, I just cannot understand the current valuation level. As a result, I maintain the opinion from my previous article: I wouldn't be interested in ZG until it reached the ~$50/share level.</p><p><blockquote>虽然Zillow的第一季度报告确实比环比有了很大改善，但该公司自己的第二季度指引似乎更能说明我在上一篇关于该公司的文章中提出的论点。也就是说，与其表现出的增长指标相比，该股的估值似乎根本不正常。尽管房地产市场火热且高度升值，但第二季度调整后EBITDA仍连续下降...嗯，我只是无法理解目前的估值水平。因此，我维持上一篇文章中的观点：在ZG达到约50美元/股的水平之前，我不会对其感兴趣。</blockquote></p><p> I will end with a five-year price chart of ZG and note that my $50 target is roughly where the stock was prior to the pandemic. Certainly the EPS reports issues since that time do not justify the rapid and substantial increase in the shares to $200 ... or, even the current $110 level.</p><p><blockquote>我将以ZG的五年价格图表结束，并指出我的50美元目标大致是该股在大流行之前的水平。当然，自那时以来的每股收益报告问题并不能证明股价快速大幅上涨至200美元是合理的……或者，甚至是目前110美元的水平。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f243f9f555525da2dcb1589d18cd30f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zillow: Significant Downside Remains<blockquote>Zillow：仍存在重大下行空间</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZillow: Significant Downside Remains<blockquote>Zillow：仍存在重大下行空间</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-06 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Shares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.</li>  <li>However, and despite a definite improvement in the latest Q1 EPS report, the stock looks to have a further downside to come.</li>  <li>That is because margins are dismal, forward adjusted EBITDA guidance for Q2 was weak (lower than Q1), and the outstanding share count continues to grow.</li>  <li>Yet, the stock still trades with a forward P/E of nearly 100x.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ba2b4c631e3e6b24aaf024fb49665ea3\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Sundry Photography/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>自从我在Seeking Alpha上发表“获利了结”文章以来，Zillow Group的股价已下跌约30%。</li><li>然而，尽管最新的第一季度每股收益报告明显改善，但该股看起来还会进一步下跌。</li><li>这是因为利润率惨淡，第二季度的前瞻性调整EBITDA指引疲弱（低于第一季度），而且流通股数量持续增长。</li><li>然而，该股的预期市盈率仍接近100倍。</li></ul><p class=\"t-img-caption\"><span>摄影：Sundry Photography/iStock社论来自Getty Images</span></p></blockquote></p><p> The&nbsp;<b>Zillow Group</b>&nbsp;(ZG) has, without a doubt, established itself as the #1 online real estate website and as one-stop shop for home-buying consumers. The company's recent pivot to what I'll call the iHome business (purchasing homes directly from consumers and then selling them on the open market) has been a positive catalyst of late in terms of revenue growth, and that business blends well with ZG's Mortgage Segment and Internet, Media, and Technology Segment. However, despite the recent and significant drop in the price of the shares, ZG still seem substantially overvalued in my opinion. That is because margins are - in a word - pathetic. In addition, Q2 guidance was weak and the company plans to hire an additional 2,000 employees this year. In my opinion, that will pressure margins even further through the remainder of the year.</p><p><blockquote>The<b>Zillow集团</b>毫无疑问，（ZG）已经成为排名第一的在线房地产网站和购房消费者的一站式商店。该公司最近转向看涨期权iHome业务（直接从消费者那里购买房屋，然后在公开市场上出售），这是最近收入增长的积极催化剂，该业务与ZG的抵押贷款业务融合得很好。部门以及互联网、媒体和技术部门。然而，尽管最近股价大幅下跌，但在我看来，ZG的估值似乎仍然被严重高估。这是因为利润率——一言以蔽之——可怜。此外，Q2指引疲弱，公司计划今年再增聘2000名员工。在我看来，这将在今年剩余时间里进一步给利润率带来压力。</blockquote></p><p> <b>Investment Rationale</b></p><p><blockquote><b>投资理由</b></blockquote></p><p> Like many Americans, Zillow has become one of my favorite websites. I am surely not alone when it comes to frequently checking Zillow.com to see what the current \"Zestimate\" is for my home as well as for the homes I have owned in the past, and those of my friends and family.</p><p><blockquote>像许多美国人一样，Zillow已经成为我最喜欢的网站之一。我肯定不是唯一一个经常查看Zillow.com以了解我的家以及我过去拥有的家以及我的朋友和家人的家的当前“Zestimate”是多少的人。</blockquote></p><p> Indeed, marketing share data from Statista shows that Zillow is #1 in unique monthly visits, and Trulia - which the Zillow Group bought in 2014 - is #2. In aggregate that gives the Zillow group a stranglehold on the real estate website market (at least by the unique visits metric) at more than 3x the share as compared to what was once a highly competitive race with Realtor.com for consumers' eye-balls:</p><p><blockquote>事实上，Statista的营销份额数据显示，Zillow在每月独立访问量方面排名第一，Zillow集团在2014年收购的Trulia排名第二。总体而言，与曾经与Realtor.com争夺消费者眼球的激烈竞争相比，Zillow集团在房地产网站市场（至少从独立访问量指标来看）的份额是其3倍以上：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/929acb56fa1d566e5f6c3ac0d250c2c2\" tg-width=\"640\" tg-height=\"553\"><span>Source:Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：斯塔蒂斯塔</span></p></blockquote></p><p> But of course there are other metrics to judge the popularity and use of real estate websites. Here is more recent data (April 1, 2021) from SimilarWeb.com:</p><p><blockquote>但当然还有其他指标来判断房地产网站的受欢迎程度和使用情况。以下是来自SimilarWeb.com的最新数据（2021年4月1日）：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/836f372f61ccb570286e9ac3e0f3143b\" tg-width=\"640\" tg-height=\"366\"><span>Source:SimilarWeb.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：SimilarWeb.com</span></p></blockquote></p><p> When it comes to average visit duration, pages viewed per visit, and bounce rate (the % of consumers that only view one-page then leave the site), Zillow and Trulia again show impressive comps. That said, note there must be other metrics that figure into the SimilarWeb ratings shown above because - from these metrics alone - one could argue rightmove.co.uk has the best stats as shown. Regardless, this graphic is another indicator that the Zillow/Trulia brand is very strong and the market leader.</p><p><blockquote>当谈到平均访问持续时间、每次访问浏览的页面和跳出率（只浏览一页然后离开网站的消费者的百分比）时，Zillow和Trulia再次显示出令人印象深刻的对比。也就是说，请注意，上面显示的SimilarWeb评级中肯定有其他指标，因为仅从这些指标来看，人们就可以认为rightmove.co.uk拥有如图所示的最佳统计数据。无论如何，这张图是Zillow/Trulia品牌非常强大并且是市场领导者的另一个指标。</blockquote></p><p> However, eye-balls aren't enough ... the views and activity need to be converted into profits, and that is where the Zillow Group is struggling in comparison to its rather lofty valuation.</p><p><blockquote>然而，眼球是不够的...观点和活动需要转化为利润，而这正是Zillow集团与其相当高的估值相比所苦苦挣扎的地方。</blockquote></p><p> <b>Q1 Earnings</b></p><p><blockquote><b>第一季度收益</b></blockquote></p><p> Zillow released its&nbsp;Q1 EPS report&nbsp;on May 4th. It was a strong report. GAAP net-income of $0.20/share&nbsp;beat estimates by a whopping $0.13. Revenue of $1.22 billion was a $120 million beat and was up 8% yoy. The company reported strong traffic on its website and mobile apps, with 221 million average monthly users (up 15% yoy) driving 2.5 billion visits during Q1 (up 19% yoy).</p><p><blockquote>Zillow于5月4日发布了第一季度EPS报告。这是一份强有力的报告。GAAP每股净利润为0.20美元，比预期高出0.13美元。收入为12.2亿美元，超出1.2亿美元，同比增长8%。该公司报告称，其网站和移动应用程序流量强劲，第一季度平均每月用户2.21亿（同比增长15%），访问量达25亿次（同比增长19%）。</blockquote></p><p> The most interesting segment in Q1 was the iHome (or what ZG calls \"Zillow Offers\") because it accounted for ~57% of revenue and is the segment Zillow is counting on to be is profitable growth engine.</p><p><blockquote>第一季度最有趣的细分市场是iHome（或ZG评级“Zillow提供的”），因为它约占收入的57%，并且是Zillow指望成为盈利增长引擎的细分市场。</blockquote></p><p> However, as can be seen in the graphic below, the margins are - so far - quite puny:</p><p><blockquote>然而，如下图所示，到目前为止，利润率相当小：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82e5264c5427eb9f8b1987c2182cb39a\" tg-width=\"640\" tg-height=\"311\"><span>Source: Zillow'sQ1 EPS report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Zillow第一季度每股收益报告</span></p></blockquote></p><p></p><p> As can be seen, the all-in return (after operating costs and interest expense) on the home buying/selling (flipping might be a better word) is a scant 4.94% of the average per-home revenue. That is despite what is generally considered to be a very hot-market real estate market across the nation. In addition, note the iHome business is a threat to the company's future growth aspirations because the pivot to iHome has pretty much cratered the company's Premier Agent business. The pivot also likely means more pressure on Zillow's advertising revenue which generally comes from the agents its iHome segment is now stealing away homes from. And all that for only 4.9% margins?</p><p><blockquote>可以看出，房屋买卖（翻转可能是一个更好的词）的总回报（扣除运营成本和利息支出）不到平均每户收入的4.94%。尽管全国房地产市场普遍被认为非常火爆。此外，请注意，iHome业务对公司未来的增长愿望构成威胁，因为转向iHome几乎损害了公司的首要代理业务。这一转变也可能意味着Zillow的广告收入面临更大压力，这些收入通常来自其iHome部门目前正在抢走房屋的代理商。而这一切的利润率只有4.9%？</blockquote></p><p> <b>Going Forward</b></p><p><blockquote><b>展望未来</b></blockquote></p><p> The chart below is the company's guidance for Q2:</p><p><blockquote>下图是该公司第二季度的指引：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d976a71e1e72bb8f0c6ac3306aa4f100\" tg-width=\"628\" tg-height=\"337\"><span>Source: Zillow's Q1 EPS report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Zillow第一季度每股收益报告</span></p></blockquote></p><p> At the midpoint of guidance total adjusted EBITDA ($128 million), note that&nbsp;<b>will be down considerably</b>&nbsp;from the $181 million in total adjusted EBITDA delivered in Q1.</p><p><blockquote>在指导调整后EBITDA总额（1.28亿美元）的中点，请注意<b>将大幅下降</b>第一季度调整后EBITDA总额为1.81亿美元。</blockquote></p><p> In addition, note the weighted average share-count at the end of Q1 (it was not included in the Q1 EPS report, but can be found in the&nbsp;SEC 10-Q filing) was 259,346,000 shares (up a whopping 23% yoy). And that share-count is expected to continue growing to an estimated 265.5 million shares at the end of Q2 (based on the guidance shown above).</p><p><blockquote>此外，请注意，第一季度末的加权平均股数（未包含在第一季度每股收益报告中，但可以在SEC 10-Q文件中找到）为259,346,000股（同比增长23%）。预计到第二季度末，该股数量将继续增长至约2.655亿股（基于上述指导）。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> So we have weak margins, falling adjusted EBITDA and a significantly rising number of fully diluted shares. Hmmmm.</p><p><blockquote>因此，我们的利润率疲软，调整后的EBITDA下降，而完全稀释的股票数量大幅增加。嗯嗯。</blockquote></p><p> Yet, despite the recent correction in the stock (note the stock is down ~30% since my Seeking Alpha article in March&nbsp;<i>Zillow: Take Profits</i>), the stock is still trading at a lofty valuation given the analysis of Q1 and Q2 guidance just presented. The&nbsp;Seeking Alpha forward P/E=97.7x.</p><p><blockquote>然而，尽管该股最近有所调整（请注意，自我3月份的Seeking Alpha文章以来，该股已下跌约30%<i>Zillow：获利了结</i>），考虑到刚刚提出的第一季度和第二季度指引的分析，该股的估值仍然很高。寻求阿尔法远期市盈率=97.7倍。</blockquote></p><p> That is obviously a rich comparison in terms of Zillow's growth prospects (or non-growth...) considering the weak Q2 guidance. In addition, it is not clear to me what the catalyst will be to improve the company's awfully small margins going forward. That is especially the case considering&nbsp;<b>Zillow plans to hire an additional 2,000 employees this year</b>, increasing its headcount by some 40%. In my opinion, this headcount growth will be a significant headwind when it comes to increasing margins. That is, Zillow is not able to demonstrate increasing margins as it tries to scale-up its operations.</p><p><blockquote>考虑到疲软的第二季度指引，就Zillow的增长前景（或非增长……）而言，这显然是一个丰富的比较。此外，我不清楚改善公司未来微薄利润率的催化剂是什么。考虑到这一点尤其如此<b>Zillow计划今年再增聘2000名员工</b>，员工人数增加约40%。在我看来，在提高利润率方面，员工人数的增长将是一个重大阻力。也就是说，Zillow在试图扩大业务规模时无法证明利润率不断增加。</blockquote></p><p> Meantime, the pivot to iHome also means that ZG now has significantly more macro-level risks as it will be increasingly dependent on the ups (now..) and downs (coming...) of the housing market.</p><p><blockquote>与此同时，转向iHome也意味着ZG现在面临更多的宏观层面风险，因为它将越来越依赖于房地产市场的起伏（现在……）。</blockquote></p><p> <b>Risks</b></p><p><blockquote><b>风险</b></blockquote></p><p> The risk of buying Zillow Group today is - in my opinion, a priced-to-near-perfection valuation level. I say \"near perfection\" because it was priced to perfection when I wrote my \"Take Profits\" article on ZG, and since it is down 30% since that piece was published, now I will simply call ZG a \"rich valuation\" proposition.</p><p><blockquote>在我看来，今天购买Zillow Group的风险是定价接近完美的估值水平。我说“接近完美”是因为当我写关于ZG的“获利了结”文章时，它的定价已经达到了完美，而且自从那篇文章发表以来，它已经下跌了30%，现在我将简单地看涨期权ZG一个“丰富的估值”命题。</blockquote></p><p> The goods news is that Zillow has a relatively strong balance sheet: it ended the quarter with $4.7 billion in cash (up from $3.9 billion at the end of 2020) after completing a $551 million stock offering during the quarter.</p><p><blockquote>好消息是，Zillow的资产负债表相对强劲：在本季度完成了5.51亿美元的股票发行后，该公司在本季度末拥有47亿美元现金（高于2020年底的39亿美元）。</blockquote></p><p> That compares to $2.259 billion in debt, which was down slightly from year-end. As a result, the company has an estimated $9.19/share in net cash based on the 265.5 million diluted shares outstanding at the end of Q1. And Zillow will likely need to keep a fair amount of cash in order to offset its higher risk profile due to direct exposure to the housing market. That is because history shows us the US housing market can change on-a-dime and could catch ZG holding a rather large inventory of homes.</p><p><blockquote>相比之下，债务为22.59亿美元，较年底略有下降。因此，根据第一季度末已发行的2.655亿股稀释后股票，该公司估计每股净现金为9.19美元。Zillow可能需要保留相当数量的现金，以抵消其因直接投资房地产市场而面临的较高风险。这是因为历史告诉我们，美国房地产市场可能会随时发生变化，并且可能会让ZG持有相当大的房屋库存。</blockquote></p><p> <b>Summary &amp; Conclusion</b></p><p><blockquote><b>总结和结论</b></blockquote></p><p> While Zillow's Q1 report was certainly much improved on a sequential basis, the company's own Q2 guidance seems to be more indicative of the thesis I presented in my last article on the company. That is, the stock's valuation simply appears to be substantially out-of-whack in comparison to its demonstrated growth metrics. More shares, falling sequential adjusted EBITDA in Q2 despite a hot and highly appreciating housing market and ... well, I just cannot understand the current valuation level. As a result, I maintain the opinion from my previous article: I wouldn't be interested in ZG until it reached the ~$50/share level.</p><p><blockquote>虽然Zillow的第一季度报告确实比环比有了很大改善，但该公司自己的第二季度指引似乎更能说明我在上一篇关于该公司的文章中提出的论点。也就是说，与其表现出的增长指标相比，该股的估值似乎根本不正常。尽管房地产市场火热且高度升值，但第二季度调整后EBITDA仍连续下降...嗯，我只是无法理解目前的估值水平。因此，我维持上一篇文章中的观点：在ZG达到约50美元/股的水平之前，我不会对其感兴趣。</blockquote></p><p> I will end with a five-year price chart of ZG and note that my $50 target is roughly where the stock was prior to the pandemic. Certainly the EPS reports issues since that time do not justify the rapid and substantial increase in the shares to $200 ... or, even the current $110 level.</p><p><blockquote>我将以ZG的五年价格图表结束，并指出我的50美元目标大致是该股在大流行之前的水平。当然，自那时以来的每股收益报告问题并不能证明股价快速大幅上涨至200美元是合理的……或者，甚至是目前110美元的水平。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f243f9f555525da2dcb1589d18cd30f\" tg-width=\"635\" tg-height=\"403\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4433217-zillow-significant-downside-remains\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"Z":"Zillow"},"source_url":"https://seekingalpha.com/article/4433217-zillow-significant-downside-remains","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120164826","content_text":"Summary\n\nShares of Zillow Group have come down some 30% since my \"Take Profits\" article was published on Seeking Alpha.\nHowever, and despite a definite improvement in the latest Q1 EPS report, the stock looks to have a further downside to come.\nThat is because margins are dismal, forward adjusted EBITDA guidance for Q2 was weak (lower than Q1), and the outstanding share count continues to grow.\nYet, the stock still trades with a forward P/E of nearly 100x.\n\nPhoto by Sundry Photography/iStock Editorial via Getty Images\nThe Zillow Group (ZG) has, without a doubt, established itself as the #1 online real estate website and as one-stop shop for home-buying consumers. The company's recent pivot to what I'll call the iHome business (purchasing homes directly from consumers and then selling them on the open market) has been a positive catalyst of late in terms of revenue growth, and that business blends well with ZG's Mortgage Segment and Internet, Media, and Technology Segment. However, despite the recent and significant drop in the price of the shares, ZG still seem substantially overvalued in my opinion. That is because margins are - in a word - pathetic. In addition, Q2 guidance was weak and the company plans to hire an additional 2,000 employees this year. In my opinion, that will pressure margins even further through the remainder of the year.\nInvestment Rationale\nLike many Americans, Zillow has become one of my favorite websites. I am surely not alone when it comes to frequently checking Zillow.com to see what the current \"Zestimate\" is for my home as well as for the homes I have owned in the past, and those of my friends and family.\nIndeed, marketing share data from Statista shows that Zillow is #1 in unique monthly visits, and Trulia - which the Zillow Group bought in 2014 - is #2. In aggregate that gives the Zillow group a stranglehold on the real estate website market (at least by the unique visits metric) at more than 3x the share as compared to what was once a highly competitive race with Realtor.com for consumers' eye-balls:\nSource:Statista\nBut of course there are other metrics to judge the popularity and use of real estate websites. Here is more recent data (April 1, 2021) from SimilarWeb.com:\nSource:SimilarWeb.com\nWhen it comes to average visit duration, pages viewed per visit, and bounce rate (the % of consumers that only view one-page then leave the site), Zillow and Trulia again show impressive comps. That said, note there must be other metrics that figure into the SimilarWeb ratings shown above because - from these metrics alone - one could argue rightmove.co.uk has the best stats as shown. Regardless, this graphic is another indicator that the Zillow/Trulia brand is very strong and the market leader.\nHowever, eye-balls aren't enough ... the views and activity need to be converted into profits, and that is where the Zillow Group is struggling in comparison to its rather lofty valuation.\nQ1 Earnings\nZillow released its Q1 EPS report on May 4th. It was a strong report. GAAP net-income of $0.20/share beat estimates by a whopping $0.13. Revenue of $1.22 billion was a $120 million beat and was up 8% yoy. The company reported strong traffic on its website and mobile apps, with 221 million average monthly users (up 15% yoy) driving 2.5 billion visits during Q1 (up 19% yoy).\nThe most interesting segment in Q1 was the iHome (or what ZG calls \"Zillow Offers\") because it accounted for ~57% of revenue and is the segment Zillow is counting on to be is profitable growth engine.\nHowever, as can be seen in the graphic below, the margins are - so far - quite puny:\nSource: Zillow'sQ1 EPS report\nAs can be seen, the all-in return (after operating costs and interest expense) on the home buying/selling (flipping might be a better word) is a scant 4.94% of the average per-home revenue. That is despite what is generally considered to be a very hot-market real estate market across the nation. In addition, note the iHome business is a threat to the company's future growth aspirations because the pivot to iHome has pretty much cratered the company's Premier Agent business. The pivot also likely means more pressure on Zillow's advertising revenue which generally comes from the agents its iHome segment is now stealing away homes from. And all that for only 4.9% margins?\nGoing Forward\nThe chart below is the company's guidance for Q2:\nSource: Zillow's Q1 EPS report\nAt the midpoint of guidance total adjusted EBITDA ($128 million), note that will be down considerably from the $181 million in total adjusted EBITDA delivered in Q1.\nIn addition, note the weighted average share-count at the end of Q1 (it was not included in the Q1 EPS report, but can be found in the SEC 10-Q filing) was 259,346,000 shares (up a whopping 23% yoy). And that share-count is expected to continue growing to an estimated 265.5 million shares at the end of Q2 (based on the guidance shown above).\nValuation\nSo we have weak margins, falling adjusted EBITDA and a significantly rising number of fully diluted shares. Hmmmm.\nYet, despite the recent correction in the stock (note the stock is down ~30% since my Seeking Alpha article in March Zillow: Take Profits), the stock is still trading at a lofty valuation given the analysis of Q1 and Q2 guidance just presented. The Seeking Alpha forward P/E=97.7x.\nThat is obviously a rich comparison in terms of Zillow's growth prospects (or non-growth...) considering the weak Q2 guidance. In addition, it is not clear to me what the catalyst will be to improve the company's awfully small margins going forward. That is especially the case considering Zillow plans to hire an additional 2,000 employees this year, increasing its headcount by some 40%. In my opinion, this headcount growth will be a significant headwind when it comes to increasing margins. That is, Zillow is not able to demonstrate increasing margins as it tries to scale-up its operations.\nMeantime, the pivot to iHome also means that ZG now has significantly more macro-level risks as it will be increasingly dependent on the ups (now..) and downs (coming...) of the housing market.\nRisks\nThe risk of buying Zillow Group today is - in my opinion, a priced-to-near-perfection valuation level. I say \"near perfection\" because it was priced to perfection when I wrote my \"Take Profits\" article on ZG, and since it is down 30% since that piece was published, now I will simply call ZG a \"rich valuation\" proposition.\nThe goods news is that Zillow has a relatively strong balance sheet: it ended the quarter with $4.7 billion in cash (up from $3.9 billion at the end of 2020) after completing a $551 million stock offering during the quarter.\nThat compares to $2.259 billion in debt, which was down slightly from year-end. As a result, the company has an estimated $9.19/share in net cash based on the 265.5 million diluted shares outstanding at the end of Q1. And Zillow will likely need to keep a fair amount of cash in order to offset its higher risk profile due to direct exposure to the housing market. That is because history shows us the US housing market can change on-a-dime and could catch ZG holding a rather large inventory of homes.\nSummary & Conclusion\nWhile Zillow's Q1 report was certainly much improved on a sequential basis, the company's own Q2 guidance seems to be more indicative of the thesis I presented in my last article on the company. That is, the stock's valuation simply appears to be substantially out-of-whack in comparison to its demonstrated growth metrics. More shares, falling sequential adjusted EBITDA in Q2 despite a hot and highly appreciating housing market and ... well, I just cannot understand the current valuation level. As a result, I maintain the opinion from my previous article: I wouldn't be interested in ZG until it reached the ~$50/share level.\nI will end with a five-year price chart of ZG and note that my $50 target is roughly where the stock was prior to the pandemic. Certainly the EPS reports issues since that time do not justify the rapid and substantial increase in the shares to $200 ... or, even the current $110 level.\nData byYCharts","news_type":1,"symbols_score_info":{"Z":0.9}},"isVote":1,"tweetType":1,"viewCount":120,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168761737,"gmtCreate":1623984206729,"gmtModify":1634024710778,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Pls comment","listText":"Pls comment","text":"Pls 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/183743746","repostId":"1102160633","repostType":4,"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117042179,"gmtCreate":1623111598191,"gmtModify":1634036893153,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Pls comment","listText":"Pls comment","text":"Pls comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/117042179","repostId":"1113815269","repostType":4,"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117048626,"gmtCreate":1623111523865,"gmtModify":1634036894777,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/117048626","repostId":"2141222253","repostType":4,"repost":{"id":"2141222253","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1623111019,"share":"https://www.laohu8.com/m/news/2141222253?lang=zh_CN&edition=full","pubTime":"2021-06-08 08:10","market":"us","language":"en","title":"Coupa Stock Falls As Software Maker's Revenue Outlook Edges By Estimates<blockquote>由于软件制造商的收入前景低于预期，Coupa股价下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2141222253","media":"Investors","summary":"Coupa stock fell after the software maker reported Q1 earnings that fell from a year earlier but topped analyst estimates while its revenue guidance edged by expectations.","content":"<p><b>Coupa Software</b> on Monday reported first-quarter earnings that fell from a year earlier but topped analyst estimates, as did revenue. Coupa stock dropped in extended trading, though, as its revenue guidance only edged by Wall Street targets.</p><p><blockquote><b>Coupa软件</b>周一公布的第一季度盈利同比下降，但超出分析师预期，营收也是如此。不过，Coupa股价在盘后交易中下跌，因为其收入指引仅略低于华尔街目标。</blockquote></p><p>San Mateo, Calif.-based Coupa earnings on an adjusted basis fell to 7 cents for the quarter ended April 30 amid the acquisition of LLamasoft for $1.5 billion.</p><p><blockquote>由于以15亿美元收购了LLamasoft，总部位于加利福尼亚州圣马特奥的Coupa截至4月30日的季度调整后收益降至7美分。</blockquote></p><p>Revenue rose 40% to $166.9 million, said the maker of business spending management software. Analysts expected the Coupa earnings report to have a loss of 19 cents on revenue of $152.7 million.</p><p><blockquote>这家商业支出管理软件制造商表示，收入增长了40%，达到1.669亿美元。分析师预计Coupa财报将亏损19美分，营收为1.527亿美元。</blockquote></p><p>A year earlier, Coupa earned 20 cents a share on sales of $119.2 million.</p><p><blockquote>一年前，Coupa每股收益20美分，销售额为1.192亿美元。</blockquote></p><p>Coupa stock fell 5.2% to near 224.50 in extended trading on the stock market today.</p><p><blockquote>今天股市盘后交易中，Coupa股价下跌5.2%，至224.50点附近。</blockquote></p><p>For the current quarter ending in July, Coupa forecast revenue of $162.5 million at the midpoint of its guidance vs. estimates of $161.8 million.</p><p><blockquote>对于截至7月的本季度，Coupa预测收入为1.625亿美元，处于指导中点，而预期为1.618亿美元。</blockquote></p><p><h2>Coupa Stock: Analyst Day Set For July 15</h2>In addition to purchasing LLamasoft, Coupa has acquired Hipperos, Exari and Yapta since late 2018.</p><p><blockquote><h2>Coupa股票：分析师日定于7月15日</h2>除了收购LLamasoft，Coupa自2018年底以来还收购了Hipperos、Exari和Yapta。</blockquote></p><p>Coupa plans to hold an analyst day on July 15 to discuss long-term strategy, said a <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> report</p><p><blockquote>Coupa计划于7月15日举行分析师日，讨论长期战略<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>报告</blockquote></p><p>Heading into the Coupa earnings report, the company's stock owned a Relative Strength Rating of 6 out of a possible 99, according to IBD MarketSmith analysis.</p><p><blockquote>根据IBD MarketSmith的分析，在Coupa收益报告发布之前，该公司股票的相对强度评级为6分（满分99分）。</blockquote></p><p>Coupa stock had retreated some 37% from its all-time high of 377.04 set on Feb. 18 amid a pull-back in software growth stocks.</p><p><blockquote>由于软件成长型股票回调，Coupa股价已较2月18日创下的历史高点377.04点下跌约37%。</blockquote></p><p><h2>Coupa Rivals</h2>Coupa's software products cover employee travel and expense management, procurement and invoicing.</p><p><blockquote><h2>对手杯</h2>Coupa的软件产品涵盖员工差旅和费用管理、采购和发票。</blockquote></p><p>The company in 2018 rolled out&nbsp;Coupa Pay, a business-to-business payment and financing product.</p><p><blockquote>该公司于2018年推出了企业对企业支付和融资产品Coupa Pay。</blockquote></p><p>Coupa competes against<b> SAP</b>'s Ariba unit,<b> Fleetcor</b>'s Nvoicepay, and AvidXchange. A new rival is <b><a href=\"https://laohu8.com/S/WDAY\">Workday</a></b>, which acquired Scout RFP.</p><p><blockquote>Coupa与<b>SAP</b>的Ariba单位，<b>弗利特科尔</b>Nvoicepay和AvidXchange。一个新的对手是<b><a href=\"https://laohu8.com/S/WDAY\">工作日</a></b>，收购了Scout RFP。</blockquote></p><p>How This IBD Tool Simplifies The Search For Top Stocks</p><p><blockquote>该IBD工具如何简化顶级股票的搜索</blockquote></p><p>Find Compelling Growth Stocks With IBD's Stock Of The Day</p><p><blockquote>通过IBD每日股票寻找引人注目的成长型股票</blockquote></p><p>Get A Free Trial Of IBD Leaderboard</p><p><blockquote>免费试用IBD排行榜</blockquote></p><p>Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists</p><p><blockquote>最值得购买和关注的成长型股票：查看IBD股票列表的更新</blockquote></p><p>Chart Reading For Beginners: Nvidia, Amazon, Pinterest Reveal This Key Investing Skill</p><p><blockquote>适合初学者的图表阅读：Nvidia、Amazon、Pinterest揭示了这一关键投资技巧</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coupa Stock Falls As Software Maker's Revenue Outlook Edges By Estimates<blockquote>由于软件制造商的收入前景低于预期，Coupa股价下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoupa Stock Falls As Software Maker's Revenue Outlook Edges By Estimates<blockquote>由于软件制造商的收入前景低于预期，Coupa股价下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time smaller\">2021-06-08 08:10</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Coupa Software</b> on Monday reported first-quarter earnings that fell from a year earlier but topped analyst estimates, as did revenue. Coupa stock dropped in extended trading, though, as its revenue guidance only edged by Wall Street targets.</p><p><blockquote><b>Coupa软件</b>周一公布的第一季度盈利同比下降，但超出分析师预期，营收也是如此。不过，Coupa股价在盘后交易中下跌，因为其收入指引仅略低于华尔街目标。</blockquote></p><p>San Mateo, Calif.-based Coupa earnings on an adjusted basis fell to 7 cents for the quarter ended April 30 amid the acquisition of LLamasoft for $1.5 billion.</p><p><blockquote>由于以15亿美元收购了LLamasoft，总部位于加利福尼亚州圣马特奥的Coupa截至4月30日的季度调整后收益降至7美分。</blockquote></p><p>Revenue rose 40% to $166.9 million, said the maker of business spending management software. Analysts expected the Coupa earnings report to have a loss of 19 cents on revenue of $152.7 million.</p><p><blockquote>这家商业支出管理软件制造商表示，收入增长了40%，达到1.669亿美元。分析师预计Coupa财报将亏损19美分，营收为1.527亿美元。</blockquote></p><p>A year earlier, Coupa earned 20 cents a share on sales of $119.2 million.</p><p><blockquote>一年前，Coupa每股收益20美分，销售额为1.192亿美元。</blockquote></p><p>Coupa stock fell 5.2% to near 224.50 in extended trading on the stock market today.</p><p><blockquote>今天股市盘后交易中，Coupa股价下跌5.2%，至224.50点附近。</blockquote></p><p>For the current quarter ending in July, Coupa forecast revenue of $162.5 million at the midpoint of its guidance vs. estimates of $161.8 million.</p><p><blockquote>对于截至7月的本季度，Coupa预测收入为1.625亿美元，处于指导中点，而预期为1.618亿美元。</blockquote></p><p><h2>Coupa Stock: Analyst Day Set For July 15</h2>In addition to purchasing LLamasoft, Coupa has acquired Hipperos, Exari and Yapta since late 2018.</p><p><blockquote><h2>Coupa股票：分析师日定于7月15日</h2>除了收购LLamasoft，Coupa自2018年底以来还收购了Hipperos、Exari和Yapta。</blockquote></p><p>Coupa plans to hold an analyst day on July 15 to discuss long-term strategy, said a <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> report</p><p><blockquote>Coupa计划于7月15日举行分析师日，讨论长期战略<a href=\"https://laohu8.com/S/MSTLW\">摩根士丹利</a>报告</blockquote></p><p>Heading into the Coupa earnings report, the company's stock owned a Relative Strength Rating of 6 out of a possible 99, according to IBD MarketSmith analysis.</p><p><blockquote>根据IBD MarketSmith的分析，在Coupa收益报告发布之前，该公司股票的相对强度评级为6分（满分99分）。</blockquote></p><p>Coupa stock had retreated some 37% from its all-time high of 377.04 set on Feb. 18 amid a pull-back in software growth stocks.</p><p><blockquote>由于软件成长型股票回调，Coupa股价已较2月18日创下的历史高点377.04点下跌约37%。</blockquote></p><p><h2>Coupa Rivals</h2>Coupa's software products cover employee travel and expense management, procurement and invoicing.</p><p><blockquote><h2>对手杯</h2>Coupa的软件产品涵盖员工差旅和费用管理、采购和发票。</blockquote></p><p>The company in 2018 rolled out&nbsp;Coupa Pay, a business-to-business payment and financing product.</p><p><blockquote>该公司于2018年推出了企业对企业支付和融资产品Coupa Pay。</blockquote></p><p>Coupa competes against<b> SAP</b>'s Ariba unit,<b> Fleetcor</b>'s Nvoicepay, and AvidXchange. A new rival is <b><a href=\"https://laohu8.com/S/WDAY\">Workday</a></b>, which acquired Scout RFP.</p><p><blockquote>Coupa与<b>SAP</b>的Ariba单位，<b>弗利特科尔</b>Nvoicepay和AvidXchange。一个新的对手是<b><a href=\"https://laohu8.com/S/WDAY\">工作日</a></b>，收购了Scout RFP。</blockquote></p><p>How This IBD Tool Simplifies The Search For Top Stocks</p><p><blockquote>该IBD工具如何简化顶级股票的搜索</blockquote></p><p>Find Compelling Growth Stocks With IBD's Stock Of The Day</p><p><blockquote>通过IBD每日股票寻找引人注目的成长型股票</blockquote></p><p>Get A Free Trial Of IBD Leaderboard</p><p><blockquote>免费试用IBD排行榜</blockquote></p><p>Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists</p><p><blockquote>最值得购买和关注的成长型股票：查看IBD股票列表的更新</blockquote></p><p>Chart Reading For Beginners: Nvidia, Amazon, Pinterest Reveal This Key Investing Skill</p><p><blockquote>适合初学者的图表阅读：Nvidia、Amazon、Pinterest揭示了这一关键投资技巧</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COUP":"Coupa Software Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2141222253","content_text":"Coupa Software on Monday reported first-quarter earnings that fell from a year earlier but topped analyst estimates, as did revenue. Coupa stock dropped in extended trading, though, as its revenue guidance only edged by Wall Street targets.San Mateo, Calif.-based Coupa earnings on an adjusted basis fell to 7 cents for the quarter ended April 30 amid the acquisition of LLamasoft for $1.5 billion.Revenue rose 40% to $166.9 million, said the maker of business spending management software. Analysts expected the Coupa earnings report to have a loss of 19 cents on revenue of $152.7 million.A year earlier, Coupa earned 20 cents a share on sales of $119.2 million.Coupa stock fell 5.2% to near 224.50 in extended trading on the stock market today.For the current quarter ending in July, Coupa forecast revenue of $162.5 million at the midpoint of its guidance vs. estimates of $161.8 million.Coupa Stock: Analyst Day Set For July 15In addition to purchasing LLamasoft, Coupa has acquired Hipperos, Exari and Yapta since late 2018.Coupa plans to hold an analyst day on July 15 to discuss long-term strategy, said a Morgan Stanley reportHeading into the Coupa earnings report, the company's stock owned a Relative Strength Rating of 6 out of a possible 99, according to IBD MarketSmith analysis.Coupa stock had retreated some 37% from its all-time high of 377.04 set on Feb. 18 amid a pull-back in software growth stocks.Coupa RivalsCoupa's software products cover employee travel and expense management, procurement and invoicing.The company in 2018 rolled out Coupa Pay, a business-to-business payment and financing product.Coupa competes against SAP's Ariba unit, Fleetcor's Nvoicepay, and AvidXchange. A new rival is Workday, which acquired Scout RFP.How This IBD Tool Simplifies The Search For Top StocksFind Compelling Growth Stocks With IBD's Stock Of The DayGet A Free Trial Of IBD LeaderboardBest Growth Stocks To Buy And Watch: See Updates To IBD Stock ListsChart Reading For Beginners: Nvidia, Amazon, Pinterest Reveal This Key Investing Skill","news_type":1,"symbols_score_info":{"COUP":0.9}},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163647747,"gmtCreate":1623884772389,"gmtModify":1634026602469,"author":{"id":"3581769825753280","authorId":"3581769825753280","name":"shearbutter","avatar":"https://static.tigerbbs.com/f14528870add8b288cd7f36448b85cb0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581769825753280","authorIdStr":"3581769825753280"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/163647747","repostId":"1144033737","repostType":4,"isVote":1,"tweetType":1,"viewCount":743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}