Pros Holdings (PRO) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +85.71%. A quarter ago, it was expected that this pricing and revenue-management software maker would post earnings of $0.13 per share when it actually produced earnings of $0.13, delivering no surprise.Over the last ...

PTC Inc. (PTC) came out with quarterly earnings of $1.64 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +34.43%. A quarter ago, it was expected that this product development software maker would post earnings of $1.38 per share when it actually produced earnings of $1.79, delivering a surprise of +29.71%.Over the last four q ...

Microsoft (MSFT) came out with quarterly earnings of $3.65 per share, beating the Zacks Consensus Estimate of $3.35 per share. This compares to earnings of $2.95 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +8.96%. A quarter ago, it was expected that this software maker would post earnings of $3.2 per share when it actually produced earnings of $3.46, delivering a surprise of +8.13%.Over the last four quarters, the company ...

Key Takeaways CDNS posted Q2 EPS of $1.65 and revenues of $1.275B, beating estimates and rising 28.9% and 20.3% Y/Y.Strong AI-led demand amid robust design activity boosted performance across EDA, IP and system analysis units.Management raised FY25 EPS and revenue outlook, citing strong results and a robust pipeline. Cadence Design Systems (CDNS) reported second-quarter 2025 non-GAAP earnings per share (EPS) of $1.65, which beat the Zacks Consensus Estimate by 5.1%. The bottom line increased 28.9% year over ...

Commvault Systems (CVLT) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.97 per share. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +4.12%. A quarter ago, it was expected that this data-management software company would post earnings of $0.93 per share when it actually produced earnings of $1.03, delivering a surprise of +10.75%.Over the last ...

Cadence Design Systems (CDNS) came out with quarterly earnings of $1.65 per share, beating the Zacks Consensus Estimate of $1.57 per share. This compares to earnings of $1.28 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +5.10%. A quarter ago, it was expected that this maker of hardware and software products for validating chip designs would post earnings of $1.49 per share when it actually produced earnings of $1.57, delive ...

财报预期 - 公司计划于7月30日公布2025财年第三季度财报 预计收入在5 6亿至6亿美元之间 非GAAP每股收益预计为1 05至1 30美元 [1] - 市场共识收入预期为5 824亿美元 同比增长12 3% 每股收益预期为1 22美元 同比增长24 5% 过去7天未调整 [1] - 过去四个季度公司每股收益均超市场预期 平均超出幅度达15 4% 过去一年股价上涨15 4% 低于行业23%的涨幅 [2] 业务驱动因素 - 产品生命周期管理(PLM)和计算机辅助设计(CAD)解决方案仍是核心收入驱动力 [3] - 生成式AI产品升级覆盖PLM ALM SLM和CAD领域 包括Windchill AI Codebeamer 3 0等新产品 管理层预计未来12-24个月AI采用率将稳步提升 [4] - 订阅模式转型和运营优化推动现金流 第三季度预计运营现金流2 34-2 39亿美元 自由现金流2 3-2 35亿美元 净年度经常性收入(ARR)预计环比增长3000-5000万美元 [5] 业务挑战 - 全球贸易波动和客户谨慎态度导致公司将2025财年ARR增长预期从9-10%下调至7-9% [6] - 不利的外汇汇率和CAD市场竞争加剧构成阻力 [9] 近期动态 - 7月8日 AI机器人公司Nimble全面转向公司云端解决方案 采用Onshape平台和Arena平台 [10] - 6月24日 推出Arena供应链智能(SCI)解决方案 在PLM/QMS环境中嵌入AI驱动的组件风险监控功能 [11] - 6月12日 在Onshape平台推出云端原生模型定义(MBD)功能 预计2025年底全面上市 [12] - 6月4日 发布CAD软件Creo 12版本 包含数百项设计仿真和制造增强功能 [13] 行业比较 - 艾默生电气(EMR)预计8月6日公布财报 共识每股收益1 51美元(同比+5 6%) 过去四季平均超预期3 4% [15][16] - 伊利诺伊工具(ITW)预计7月30日公布财报 共识每股收益2 56美元(同比+0 8%) 过去四季平均超预期3% [16][17] - 高通(QCOM)预计7月30日公布财报 共识每股收益2 68美元 收入103 6亿美元 过去一年股价下跌8 8% [18]

公司股价表现 - MicroStrategy(MSTR)过去12个月股价上涨131%，显著跑赢Zacks计算机软件行业(22.2%)和计算机科技板块(22.8%) [1] - 公司股价近一个月上涨7.4%，表现优于行业但落后于MARA和RIOT [9] - 当前股价位于200日均线上方，显示看涨趋势 [7][8] 比特币持仓与市场环境 - 截至2025年7月20日持有607,770枚比特币，7月新增6,220枚(耗资7.398亿美元) [2][9] - 比特币持仓量远超同行：MARA(47,531枚)、RIOT(19,223枚)、特斯拉(11,509枚) [2] - 受益于特朗普政府建立比特币战略储备计划及《GENIUS法案》通过 [11] 融资与资本结构 - 2025年4月28日前通过股权融资66亿美元(含28亿可转换优先股)、固定收益融资34亿美元 [12] - 计划通过STRC优先股IPO融资24.74亿美元(发行2801万股，每股90美元) [13] - 21/21计划下已发行209亿美元股权和64亿美元固收证券，2027年前拟再融资211亿美元股权和356亿美元固收 [14] 云服务与AI业务 - 订阅收入同比激增62%至3710万美元，占2025年Q1总营收33% [16] - Mosaic AI实现通用化，支持200+数据源集成并与Power BI/Tableau/Excel等工具兼容 [15][16] - Strategy One云平台服务覆盖零售、金融、医疗等多元行业 [17] 财务指标与估值 - 2025年Q2每股亏损预期稳定在0.12美元(去年同期亏损0.76美元) [19] - 2025年全年每股亏损预期15.73美元(2024年为6.72美元) [20] - 当前市净率3.0X显著高于MARA(1.63X)和RIOT(1.78X)，价值评分F显示高估 [21][23][24]

财报预期 - 微软将于7月30日公布2025财年第四季度财报 共识收入预期7371亿美元 同比增长1388% [2] - 每股收益共识预期335美元 过去30天保持稳定 同比增长1356% [2] - 上一季度盈利超预期813% 过去四个季度平均盈利超预期521% [3] 业务板块表现 - 生产力与业务流程部门收入预计321亿美元 同比增长122% 主要受Microsoft 365商业云增长驱动 [7][8] - 智能云部门收入预计2889亿美元 同比增长215% Azure云增长预计34-35%（恒定汇率） [10] - 更多个人计算部门收入预计1243亿美元 同比增长1% 受《我的世界》电影全球票房超9亿美元及游戏周活跃用户增长75%推动 [13][14] 增长驱动因素 - 800亿美元AI基础设施投资提前增加算力 缓解供应限制 强化竞争优势 [7][11] - Build 2025开发者大会发布多智能体编排等企业级AI功能 巩固行业领导地位 [9][12] - Windows OEM收入预计中高个位数下滑 但全球PC出货量同比增长65%至6840万台 [15] 竞争格局 - 联想和惠普PC出货量分别增长152%和32% 戴尔下滑3% [16] - 游戏业务收入预计中个位数增长 Xbox内容与服务收入预计高个位数增长 [16] 股价与估值 - 微软年初至今股价上涨212% 跑赢计算机与科技板块108%的涨幅 [17] - 联想和戴尔同期分别上涨23%和114% 惠普下跌39% [17] - 当前12个月前瞻市销率1199倍 显著高于行业平均893倍 [19] 投资逻辑 - AI基础设施和云服务持续增长 预计Azure保持34-35%增速 支撑长期竞争力 [7][10][23] - 企业级AI平台战略全面落地 涵盖生产力套件到开发者工具 形成生态壁垒 [12][24] - 尽管估值偏高 但AI和云业务的强劲势头仍使其成为核心配置标的 [23][24]

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...