Technical Analysis – 8 September 2023

United States | Singapore | Hong Kong | Earnings

DraftKings Inc. (DKNG US)

Shares closed higher above the 5dEMA with constructive volume.
MACD is positive, RSI is constructive.
Long – Entry 30.50, Target 33.50, Stop 29.00

Fortinet, Inc. (FTNT US)

Shares closed higher above the 20dEMA. The 5dEMAjust crossed the 20dEMA.
MACD is positive, RSI is constructive.
Long – Entry 63.0, Target 68.0, Stop 60.5

DFI Retail Group Holdings Ltd. (DFI SP)

Shares closed higher above the 20dEMA with a surge in volume. 5dEMA is about to cross the 20dEMA.
MACD is positive, RSI is turning constructive.
Long – Entry 2.50, Target 2.70, Stop 2.40

Starhub Ltd. (STH SP)

Shares closed higher above the 200dEMA with a surge in volume. 5dEMA just crossed the 20dEMA and 50dEMA and is about to cross the 200dEMA.
MACD just turned positive, RSI is constructive.
Long – Entry 1.07 Target 1.13, Stop 1.04

Kunlun Energy Company Ltd (135 HK)

Shares tested the 200dEMA, closing right below it and above the 5dEMA.
RSI is constructive and MACD is positive.
Long – Entry 6.14, Target 6.62, Stop 5.90

PetroChina Co Ltd (857 HK)

Shares closed above the 5wEMA with an increase in volume.
RSI is positive, while MACD is negative.
Long – Entry 5.95, Target 6.40, Stop 5.73

Science Applications International Corp (SAIC)

2Q24 Revenue: $1.78B, -3% YoY, beat estimates by $80M
2Q24 Non-GAAP EPS: $2.05, beat estimates by $0.43
FY24 Guidance: raised its revenue guidance to a range of $7.2 billion to $7.25 billion from the previous outlook of $7.12 billion to $7.22 billion. It also raised its estimate for adjusted EPS to a range of $7.20 to $7.40 from $7.00 to $7.20 previously.
Comment: In 2Q24, SAIC demonstrated impressive performance, surpassing revenue and EPS estimates despite reporting a 3% YoY revenue decline. When accounting for divestitures, the company achieved an 8.3% increase in revenue and a notable 70 basis point growth in adjusted EBITDA margins compared to the previous year. Notably, SAIC underscored its dedication to community engagement, notably through its Hunger Action Month campaign. The company expressed pride in its recent accomplishments, with a strategic focus on harnessing the potential of its skilled workforce, enhancing its brand presence, and achieving profitable organic growth. The updated FY24 guidance suggests that SAIC is on track to deliver its strongest year of organic revenue growth and its highest EBITDA margin since separation, with a strong emphasis on bolstered margins, increased shareholder returns, and a continued commitment to an asset-light business model. Additionally, SAIC announced an impending CEO transition, conveying confidence in the incoming CEO’s ability to uphold the company’s success. The departing CEO reflected on his tenure’s achievements and underscored his commitment to ensuring a smooth leadership transition. 3Q24 recommended trading range: $108 to $111. Positive Outlook.

C3.ai Inc (AI)

24财年第一季营收：7,236万美元, 同比增幅10.8%，超预期760万美元
24财年第一季Non-GAAP每股亏损：0.09美元，超预期0.08美元
24财年第一季指引：总营收为7,200至7,650万美元；Non-GAAP经营亏损为2,700万美元至4,000万美元。24财年指引：总营收为2.95亿至3.2亿美元；Non-GAAP经营亏损为7,000万美元至1亿美元。
短评：公司在24财年有一个强劲的开头，然而，该公司表示，按照此前的计划，到24财年末，按Non-GAAP计算，该公司将无法实现盈利。该公司指出，其在潜在客户生成、品牌推广、市场意识和与生成式人工智能解决方案相关的客户成功方面的投资，是盈利能力延迟的原因。尽管延迟，公司仍预计在2024财年第四季度和2025财年实现现金正流。该公司还宣布立即推出新的C3生成AI套件，其中包括28个新的特定领域的生成AI解决方案，适用于工业、业务流程和企业系统。公司的联邦业务表现强劲，联邦预订量同比增长39%。该公司正在扩大与美国国防部的合作，与首席数字和人工智能办公室、美国海军陆战队、美国空军、导弹防御局和国防反情报安全局开展新的和扩大的项目。公司的商业客户，包括壳牌、乔治亚-太平洋、科赫工业、美国银行等，正在继续扩大他们的C3应用足迹，现在越来越多地包括C3生成ai。公司看到了对C3生成人工智能的强劲需求，该公司相信它有潜力成为未来的主要增长动力。24财年第二季度建议交易区间：25美元至35美元。中性前景。

Docusign Inc (DOCU)

2Q24 Revenue: $687.69M, +10.5% YoY, beat estimates by $10.27M
2Q24 Non-GAAP EPS: $0.72, beat estimates by $0.06
3Q24 Guidance: Total Revenue: $687M-691M, subscription revenue: $669M-673M, billings: $668M-678M, Non-GAAP gross margin: 81-82%, Non-GAAP operating margin: 22-23%. FY24 Guidance: Total Revenue: $2,725M-2,737M, subscription revenue: $2,649M-2,661M, billings: $2,804M-2,824M, Non-GAAP gross margin: 81-82%, Non-GAAP operating margin: 23-24%.
Share buyback: board of directors has authorised an increase of $300mn to its existing stock repurchase program for a total aggregate amount of up to $500mn of DocuSign’s outstanding common stock. The program has no minimum purchase commitment and no mandated end date.
Comment: DocuSign reported strong Q2 results, with total revenue increasing by 11% YoY and subscription revenue at $669mn, also growing by 11%. The international segment demonstrated robust growth, comprising 26% of total revenue. Despite macro pressures impacting expansion rates, the company maintained higher-than-anticipated on-time renewals. DocuSign added approximately 37,000 new customers, reaching a total of 1.44mn customers. While the company expects some deceleration in billings growth in the second half of the year, it remains optimistic about future expansion opportunities. Operating cash flow and free cash flow saw significant increases, and the company has $1.5bn in cash and equivalents. They also announced an increased share repurchase program to $500mn. Looking ahead, DocuSign provided guidance for Q3 and FY24, emphasising cautiousness due to an uncertain macro environment and competitive dynamics. 3Q24 recommended trading range: $53 to $58. Neutral Outlook.

UIPath (PATH)

24财年第二季营收：2.873亿美元, 同比增幅18.6%，超预期523万美元
24财年第二季Non-GAAP每股盈利：0.09美元，超预期0.06美元
24财年第三季指引：营收在3.13亿美元至3.18亿美元之间，而市场预期为3.1516亿美元，年度经常性收益在13.59亿美元至13.64亿美元之间。Non-GAAP营业收入约为3，200万美元。24财年指引：营收在12.73亿美元至12.78亿美元之间，而市场预期为12.7亿美元，年度经常性收益在14.32亿美元至14.37亿美元之间，Non-GAAP营业收入约为1.88亿美元。
股票回购：董事会已批准一项5亿美元的股票回购计划。
短评：公司在第二季度取得了强劲的业绩，年度经常性收益同比增长25%，净新增年度经常性收益为5900万美元。该公司正在进行投资，以扩大其市场领导地位，其董事会已批准一项5亿美元的股票回购计划。公司对AI的下一步发展感到兴奋，并相信生成AI (Gen AI)将成为业务的顺风。新一代人工智能是一项新技术，可用于增强自动化创造，改进UiPath的产品，并允许客户识别和实现更先进的自动化。UiPath通过“僚机”项目减少开发障碍，提高了开发人员的生产力。Wingman是UiPath自动化平台的一个新功能，它使用Gen AI使业务用户和开发人员更容易进行自动化创建。该公司在8月中旬的Ai4大会上正式推出了其通用人工智能平台，并看到了客户的强劲需求。UiPath将邀请客户参加下个月在拉斯维加斯举行的用户大会Forward VI。在大会上，UiPath将展示其最新的平台版本23.10，其中介绍了新一代人工智能开发者和最终用户体验。总的来说，UiPath在未来的持续增长中处于有利地位。该公司拥有强大的创新记录，深厚的客户基础以及对自动化未来的清晰愿景。24财年第三季度建议交易区间：16美元至20美元。积极前景。