Analysis

The Latest from Equities News


January 15, 2021
URI – Market expectations are for Uniform ROA to decline, but management is confident about their location openings, customer projects, and leverage
United Rentals, Inc. (URI:USA) currently trades near corporate averages relative to UAFRS-based (Uniform) earnings, with a 21.4x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about specialty location openings, upcoming customer projects, and their leverage
January 14, 2021
AVB – Market expectations are for Uniform ROA to reach new peaks, but management may have concerns about rental income, turnover, and legacy markets
AvalonBay Communities, Inc. (AVB:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 47.1x Uniform P/E. At these levels, the market has bullish expectations for the firm, but management may have concerns about the sustainability of rental income, occupant turnover in San Francisco, and the performance of their legacy markets
January 13, 2021
INCY – Market expectations are for Uniform ROA compression, but management is confident about efficacy, their dermatological cream, and patient starts
Incyte Corporation (INCY:USA) currently trades near recent averages relative to UAFRS-based (Uniform) earnings, with a 16.7x Uniform P/E. At these levels, the market has bearish expectations for the firm, but management is confident about drug efficacy, their dermatological cream, and patient starts
January 12, 2021
EPAM – Market expectations are for Uniform ROA to reach new peaks, but management may have concerns about growth, capital allocation, and the pandemic
EPAM Systems, Inc. (EPAM:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 46.1x Uniform P/E. At these levels, the market has bullish expectations for the firm, but management may have concerns about revenue growth, their capital allocation strategy, and the impact of the pandemic
January 12, 2021
Valens Equity Weekly Insights and Inflections for January 21, 2021
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: LPLA – LPL Financial Holdings Inc. Other Highlights: CSX, MSCI, PANW
January 11, 2021
PANW – Market expectations are for Uniform ROA to remain stable, but management is optimistic about their billings, cloud AI security, and transparency
Palo Alto Networks, Inc. (PANW:USA) currently trades well above corporate averages relative to UAFRS-based (Uniform) earnings, with a 105.3x Uniform P/E. Even at these levels, the market has expectations for profitability to remain stable, but management is optimistic about their billings, cloud AI security category, and transparency
January 7, 2021
EW – Market expectations are for Uniform ROA to expand, but management appears concerned about growth, TAVR, and TMTT
Edwards Lifesciences Corporation (EW:USA) trades near historical highs relative to UAFRS-based (Uniform) earnings, with a 48.6x Uniform P/E.
January 6, 2021
MSCI – Market expectations are for Uniform ROA to reach record highs, but management may have concerns about ESG, indices, and partnerships
MSCI Inc. (MSCI:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 46.4x Uniform P/E.
January 5, 2021
Valens Equity Weekly Insights and Inflections for January 5, 2021
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: KEYS – Keysight Technologies, Inc. Other Highlights: CPRT, NOC, SONO
January 5, 2021
ITW – Market expectations are for Uniform ROA expansion, but management may be concerned about their segments, margins, and supply chain
Illinois Tool Works Inc. (ITW:USA) trades near historical highs relative to UAFRS-based (Uniform) earnings, with a 28.4x Uniform P/E.
January 4, 2021
CPRT – Markets are pricing in expectations for Uniform ROA to reach new peaks, but management may be concerned about pricing, insurance partners, and the international business
Copart, Inc. (CPRT:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 36.9x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm
December 29, 2020
Valens Equity Weekly Insights and Inflections for December 29, 2020
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: CVS – CVS Health Corporation Other Highlights: MTCH, PLD, WTRH
December 29, 2020
NOC – Market expectations are for Uniform ROA to decline, but management is confident about growth, Skyborg, and bipartisan support
Northrop Grumman Corporation (NOC:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 16.6x Uniform P/E. At these levels, the market has bearish expectations for the firm
December 28, 2020
MTCH – Market expectations are for record-high Uniform ROA, but management may be concerned about free cash flow, non-Tinder brands, and fees
Match Group, Inc. (MTCH:USA) currently trades near historical highs relative to UAFRS-based (Uniform) earnings, with a 54.3x Uniform P/E. At these levels, markets have bullish expectations for the firm
December 24, 2020
PLD – Market expectations are for Uniform ROA to reach all-time highs, but management may have concerns about inventory, growth, and demand
Prologis, Inc. (PLD:USA) currently trades at a recent high relative to UAFRS-based (Uniform) earnings, with a 52.1x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm, but management may have concerns about inventory, growth, and demand
December 23, 2020
WTRH – Market expectations are for a positive inflection in Uniform ROA, but management may be concerned about revenues, pricing, and dine-in
Waitr Holdings Inc. (WTRH:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with an 8.8x Uniform P/E. At these levels, the market has expectations for profitability to positively inflect, but management may be concerned about revenue growth, their pricing power, and the new dine-in capabilities
December 22, 2020
Valens Equity Weekly Insights and Inflections for December 22, 2020
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: CBRL – Cracker Barrel Old Country Store, Inc. Other Highlights: KSS, MPWR, RAD
December 22, 2020
AMN – Although management may have concerns about margins, demand, and new clinicians, market expectations are too bearish, and long-term equity outperformance is likely
AMN Healthcare Services, Inc. (AMN:USA) currently trades near corporate averages relative to UAFRS-based (Uniform) earnings, with a 23.2x Uniform P/E. At these levels, the market is pricing in bearish expectations for the firm, and although management may have concerns about gross margins, 2021 demand, and new clinicians, market expectations are too bearish, and long-term equity outperformance is likely
December 21, 2020
DHI – Although management may have concerns about home demand, unsold homes, and the strength of their position, market expectations are overly bearish, suggesting equity upside remains warranted
D.R. Horton, Inc. (DHI:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 9.1x Uniform P/E, implying bearish expectations for the firm. Although management may have concerns about home demand, unsold homes, and the strength of their position, market expectations are overly bearish, suggesting equity upside remains warranted for DHI going forward
December 18, 2020
GPN – Market expectations are for Uniform ROA to improve, but management may have concerns about their market share, volumes, and strategies
Global Payments Inc. (GPN:USA) currently trades near historical highs relative toUAFRS-based (Uniform) earnings, with a 37.9x Uniform P/E.