We are beginning to see a decline in the number of June-quarter earnings reports. There are still plenty to sift through, but nothing like the numbers we have seen over the past several weeks. Last week’s total of around 1,600 reports drops to around 1,200 this week and plunges to about 200 or so next week.

Monday morning’s results were again heavily skewed to upside surprises, on both profits and revenues. COVID-19 vaccine developer BioNTech beat earnings expectations by nearly 43% and revenue expectations by 62%.

We already have posted our previews of five stocks reporting results after markets close today or before the opening bell on Tuesday, including meme stock AMC Entertainment and some Cathie Wood picks.

Here is a preview of five more companies, these scheduled to release results after markets close Tuesday afternoon or before they open on Wednesday.

Coinbase

Since coming public in mid-April, shares of cryptocurrency platform Coinbase Global Inc. (NASDAQ: COIN) have dropped by about 21%. As governments and central banks around the world try to figure out how to regulate cryptocurrencies, investors have been cautious because Coinbase can be seen as a way to get exposure to crypto without having to own the various coins.

Monday’s sharp jump in Bitcoin (more than 4%) boosted Coinbase shares by more than 5%. Furthermore, Cathie Wood’s ARK Invest holds a combined 6.04 million Coinbase shares, valued at $1.54 billion.

Of 17 brokerages covering the stock, 11 rate the shares as a Buy or Strong Buy, with another four giving the stock a Hold rating. At a recent trading price of around $276.20, the upside potential based on a median price target of $298 is nearly 8%. At the high price target of $650, upside potential rises to 135%.

For its June quarter, Coinbase is expected to report revenue of $1.8 billion, which would be flat compared with the prior quarter. Earnings per share (EPS) are forecast at $3.05, also flat sequentially. For the full year, EPS is estimated to come in at $8.57 and revenue is forecast at $6.25 billion, compared with 2020 revenue of $1.28 billion. The company reports results after markets closed on Tuesday.

Shares trade at 73.4 times expected 2021 EPS, 111.2 times estimated 2022 earnings and 93.5 times estimated 2023 earnings. The stock’s post-IPO range is $208.00 to $429.54. Coinbase does not pay a dividend.

Live TV streaming platform FuboTV Inc. (NYSE: FUBO) came public in October 2020 at $10 a share. Since then the share price has more than doubled, but that is way below the spike of more than 40% the company enjoyed in late December.

While the streaming TV sector is crowded with a plethora of bigger players, FuboTV is planning to parlay its acquisition of Balto Sports into an in-house sportsbook for its streaming customers. This could be a big differentiator (and moneymaker) for the company. Without the betting gambit, however, FuboTV could face subscriber issues. The company reports results late Tuesday.

The stock gets ratings of Buy or Strong Buy from six of seven brokerages covering the stock. At a trading price of around $27.50, the upside potential based on the median price target of $34 is 23.6%. At the high target of $60, the upside potential is around 122%.

Analysts are looking for FuboTV to post revenue of $121.43 million, up 1.4% sequentially, and an adjusted loss per share of $0.49, smaller than the $0.67 loss per share in the first quarter. For the full year, analysts expect the stock to post a loss per share of $2.04, less than a third of the year-ago loss per share of $7.32. Revenue for the year is expected to jump by 144% to $531.21 million.

FuboTV is not expected to post a profit in 2021, 2022 or 2023. The stock currently trades at 6.7 times its enterprise value-to-sales (EV/S) rate. The EV/S ratio is estimated at 4.2 in 2022 and 2.6 in 2023. The stock’s post IPO trading range is $8.26 to $62.29, and the company does not pay a dividend.

Unity Software

Real-time 3D video development platform maker Unity Software Inc. (NYSE: U) has added about 61% to its share price since its September 2020 IPO. In late December, the stock spiked to a gain of about 150%, but shares have trended downward since then. Cathie Wood’s ARK Invest holds a total of about 12.24 million shares of Unity stock, valued at around $1.35 billion. Unity is set to announce quarterly results after markets close on Tuesday.

Of 12 analysts covering the stock, nine rate the shares at Buy or Strong Buy, and two rate the stock a Hold. At a price of around $110.80, the upside potential to the median price target of $125 is 12.8%. At the high target of $170, upside potential is more than 53%.

Second-quarter revenue is expected to rise sequentially by 3.4% to $242.5 million, while the loss per share rises from $0.10 in the first quarter to $0.12. For the full year, analysts now expect Unity to post a loss per share of $0.34, an improvement of five cents per share year over year. Revenue is expected to rise by more than 31% to $1.01 billion.

Unity Software is not expected to post a profit in 2021, 2022 or 2023. Shares trade at a multiple of 28.0 to the estimated 2021 EV/S ratio, 22.1 the 2022 estimate and 17.3 the 2023 estimate. The stock’s post-IPO range is $65.11 to $174.94, and the company does not pay a dividend.

Reporting first thing Wednesday, biotech firm Beam Therapeutics Inc. (NASDAQ: BEAM) came public in early February 2020 at $17 a share. Since then the stock is up about 480%, including a spike to an increase of some 600% less than six weeks ago. The company’s gene-editing process was validated by a study conducted by its competitors, and that sent the shares soaring briefly. Among the believers in the stock is Cathie Wood, and her ARK Invest funds hold about 6.5 million Beam shares altogether, valued at around $721 million.

Five brokerages have Buy ratings on the stock and four others rate the stock a Hold. The stock trades at around $107.30 and has outrun its median price target of $98.50. At the high price target of $150, the stock’s potential upside is nearly 40%.

June-quarter revenue is forecast at $8.33 million, up from just $10,000 in the first quarter. The consensus estimate calls for an adjusted loss per share of $0.74, far better than the $3.35 per share loss in the first quarter. For the full year, current estimates call for a loss per share of $5.11 (worse than the year-ago loss of $4.19) and revenue of $9.30 million, light years ahead of last year’s total revenue of $20,000.

Beam is not expected to post a profit in 2021, 2022 or 2023. No other forecasts are available. The stock’s 52-week range is $21.24 to $138.52, and the company does not pay a dividend.

Berkeley Lights

Another small biotech firm, Berkeley Lights Inc. (NASDAQ: BLI), also reports results Wednesday morning. The company came public in mid-July of 2020 at $22 a share, but the first trade of the day took place at $51.50. The stock bounced around before posting its all-time high in late December. Since then, shares have dropped to where they now trade about 30% below their opening day closing price of $65.45. ARK Invest funds own 6.66 million shares, valued at around $312.35 million.

The stock is lightly covered, with five brokerages assigning a Buy or Strong Buy rating to the stock and two more rating the shares a Hold. At a trading price of around $45.50, the stock’s potential upside based on a median price target of $74 is 62.6%. At the high target of $100, the upside potential is 120%.

Second-quarter revenue is forecast at $19.64 million, up 5.4% sequentially and nearly double year over year. The loss per share is forecast at $0.23, a penny better than the first-quarter loss, and three cents worse than the year-ago loss. For the full year, the loss per share is estimated at $0.87, $0.52 per share better than the year-ago loss, and revenue is expected to rise by about 43% to $91.87 million.

Berkeley Lights is not expected to post a profit in 2021, 2022 or 2023. The company’s EV/S ratio for 2021 is 30.0, for 2022 is 20.8 and for 2023 is 16.1. The stock’s 52-week range is $35.51 to $113.53, and the company does not pay a dividend.

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