Large Cap Losers: DOCU, ASAN, DIDI
12:30 am Saturday, December 04th, 2021
Docusign Inc (NASDAQ:DOCU) Crashes to 52-week lows after posting Q3 results; co topped estimates for EPS and revs while guiding Q4 revs below consensus. Co stated during its call that it saw demand slow and the urgency of customers’ buying patterns temper moving through Q3. Billings grew +28% yr/yr to $565.2 mln in Q3, following growth of +47% to $595.4 mln in Q2; co sees Q4 billings of $647-659 mln, implying growth of approx. +21-23% yr/yr. Downgraded at various firms, including Needham, Wedbush, Piper Sandler, UBS, and JPMorgan.
Asana Inc (NYSE:ASAN) Posted upside Q3 results for EPS and for revs, which grew +70% yr/yr. Revs from customers spending $5,000 or more on an annualized basis grew +96% yr/yr. Co sees revs growing +53-54% yr/yr in Q4. Issued upside FY22 guidance.
DiDi Global Inc – ADR (NYSE:DIDI) Falls to new lows after announcing that its board has authorized co to undertake procedures for the delisting of co’s ADSs from the NYSE; the board has authorized co to pursue a listing of its class A ordinary shares on the Main Board of the Hong Kong Stock Exchange. Chinese ADRs generally underperform in sympathy with co on concerns regarding potential further delisting action amid regulatory pressure.
