Wednesday morning, markets were somewhat mixed, with the Nasdaq taking a dive, down over 0.6%. The Dow Jones industrials saw a slight gain while the S&P 500 had a slight loss. Despite the broad markets moving in different directions, there was even more action in other areas. West Texas Intermediate crude bounced back from Tuesday by more than 1%, and Bitcoin recovered almost 2% as well.
While in a broad sense, investors and brokers alike may be abiding by the old market adage of “sell in May and go away,” there is still action happening around the market in the coming days and weeks. The Federal Reserve has a policy meeting next week in which interest rates are expected to remain flat.
Withstanding moves like we may be seeing at the Fed, on the micro level, companies are reporting quarterly results this week, and these could have sizable ramifications for each individual stock.
Here is a look at two companies reporting quarterly results late Thursday and what to expect from each report.
DocuSign
DocuSign Inc. (NASDAQ: DOCU) is scheduled to report its fiscal first-quarter financial results. Analysts expect to see $0.55 in earnings per share (EPS) on $641.8 million in revenue. The same period of last year had $0.38 in EPS on $588.69 million in revenue.
Over the past 52 weeks, the stock is down roughly 29%. However, year to date, it is up closer to 7%.
Wednesday morning, shares of DocuSign were under 1% higher to near $59, in a 52-week range of $39.57 to $92.04. The consensus price target is $67.46, which implies upside of 14% from the most recent closing price of $59.15.
Vail Resorts
For Vail Resorts Inc. (NYSE: MTN), the fiscal third-quarter consensus estimates project $8.83 in EPS on $1.26 billion in revenue. The same period of last year had $9.16 in EPS and $1.18 billion in revenue.
This stock has seen its fair share of ups and downs over the past year, with shares actually relatively flat in the past 52 weeks. However, shares are up roughly 7% year to date.
Vail Resorts stock was last seen trading down less than 1% to just under $253. The 52-week range is $201.91 to $269.50. The consensus price target of $259.56 implies upside of 1.8% from the most recent closing price of $255.08.
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