TSP Weekly Tech Stock Update—Sep 7, 2024

This Week: AAPL product launch preview, GTLB surprises to the upside, ZS outlook disappoints, AVGO boosts AI revenue guide, RBRK earnings on deck, Citi likes MDB, MPWR EPS estimates advance & more.

Hello from Rob…

—Rubrik (RBRK, $30.72—TSP Watch List), a provider of a data management and security software platform, will report FQ2 (July) results after the close on Monday. The total revenue guidance range of $195 million to $197 million represents growth of 29% to 30%. The consensus estimate is $196.2 million.

In FQ1 (April), Rubrik’s total revenue rose 38% to $187.3 million.

For FY’25 (Jan.), the company expects total revenue of $810 million to $824 million (growth of 29% to 31%).

Rubrik went public in late April at $32 a share. The post-IPO high of $40 was reached on the day of the offering.

Since the FQ1 earnings report in the middle of June, Rubrik shares have fallen 12.9%. The stock is off 20% from the July 31 high of $38.50. For more on Rubrik, see my August 2024 write-up.

—Monolithic Power Systems (MPWR, $806.31) stock has quickly come down 16% from the record high of $959.64 just reached on August 29. Meanwhile, earnings estimates over the past 60 days have been on the rise: the 2024 consensus is now at $13.99 versus $13.25 and the 2025 consensus stands at $17.50 versus $16.73. Read more about Monolithic’s Q2 earnings report and AI-powered solutions here.

*Inside This Issue: Smartsheet Buyout Chatter Reemerges

—Paid subscribers will receive the September 2024 PDF of Tech-Stock Prospector (TSP #271) via email on Tuesday, September 10.

—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.