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Earnings Surprises to Expect in a Quiet Week: NVIDIA, Costco and Zoom

Stock market forecasts this week

Late May is a relatively slow period for earnings releases. We expect slightly over 100 announcements this week and a few dozen reports in the short week of Memorial Day that follows. Still, there will be notable Tech and Consumer companies posting their results before the holiday. With the overall market now in the bear territory, the investor skepticism is strong. Any company that does not outperform the best earnings estimates may see its stock sell off.

Who among these companies will beat the analyst consensus and whisper numbers? Our state-of-the-art AI models are here to help you make the best investing decisions. All of our AI’s earnings predictions are available on our site stocks.proximilar.com.

Earnings: weekly stock predictions

We grouped the announcing companies by industry sector for ease of presentation. Most of them are likely to beat the analyst consensus by a decent margin. Based on our AI’s forecasts, we expect some of the Consumer names to post strong results.

Technology and Communications

NVDIA Corp (NVDA): $1.21 Proximilar’s AI EPS estimate vs. $1.10 consensus stock forecast EPS
Zoom Video Communications Inc (ZM): $0.96 our EPS prediction vs. $0.88 Wall St consensus estimate
Workday Inc (WDAY): $0.91 our prediction vs. $0.86 analyst consensus EPS estimate
Zscaler Inc (ZS): $0.11 our forecast vs. $0.11 consensus EPS estimate
Autodesk Inc (ADSK): $1.41 our estimate vs. $1.35 consensus
Splunk Inc (SPLK): -$0.66 our estimate vs. -$0.74 consensus
Nutanix Inc (NTNX): -$0.13 our estimate vs. -$0.22 consensus
Canadian Solar Inc (CSIQ): -$0.03 our estimate vs. -$0.06 consensus
Vmware Inc (VMW): $1.65 our estimate vs. $1.57 consensus
Intuit Inc (INTU): $7.70 our estimate vs. $7.58 consensus
Box Inc (BOX): $0.26 our estimate vs. $0.25 consensus
Marvell Technology Inc (MRVL): $0.54 our estimate vs. $0.51 consensus
Zuora Inc (ZUO): -$0.01 our estimate vs. -$0.01 consensus
Photronics Inc (PLAB): $0.38 our estimate vs. $0.35 consensus
Viasat Inc (VSAT): $0.21 our estimate vs. $0.22 consensus

Consumer Goods (Cyclical and Defensive)

Dick’s Sporting Goods Inc (DKS): $2.71 our EPS forecast vs. $2.50 consensus EPS estimate
Best Buy Co Inc (BBY): $1.70 our estimate vs. $1.59 EPS estimate
Ulta Beauty Inc (ULTA): $4.87 our estimate vs. $4.46 EPS consensus
Dollar Tree Inc (DLTR): $2.15 our estimate vs. $2.01 consensus
Advance Auto Parts Inc (AAP): $3.82 our estimate vs. $3.60 consensus
Macy’s Inc (M): $0.97 our estimate vs. $0.82 consensus
Dollar General Corp (DG): $2.40 our estimate vs. $2.32 consensus
Toll Brothers Inc (TOL): $1.65 our estimate vs. $1.50 consensus
American Eagle Outfitters Inc (AEO): $0.27 our estimate vs. $0.26 consensus
Hibbett Inc (HIBB): $3.17 our estimate vs. $3.11 consensus
Jack In The Box Inc (JACK): $1.41 our estimate vs. $1.34 consensus
Ralph Lauren Corp (RL): $0.63 our estimate vs. $0.38 consensus
Abercrombie & Fitch Co (ANF): $0.15 our estimate vs. $0.09 consensus
Williams Sonoma Inc (WSM): $3.12 our estimate vs. $2.88 consensus
Burlington Stores Inc (BURL): $0.68 our estimate vs. $0.63 consensus
Red Robin Gourmet Burgers Inc (RRGB): -$0.79 our estimate vs. -$0.72 consensus
Americas Carmart Inc (CRMT): $3.06 our estimate vs. $3.10 consensus
Urban Outfitters Inc (URBN): $0.44 our estimate vs. $0.42 consensus
Elf Beauty Inc (ELF): $0.10 our estimate vs. $0.07 consensus
Guess Inc (GES): $0.33 our estimate vs. $0.29 consensus
Caleres Inc (CAL): $1.05 our estimate vs. $0.83 consensus

Others (Health care, Industrials and Materials)

Medtronic Plc (MDT): $1.61 our estimate vs. $1.57 consensus EPS estimate
Enersys (ENS): $1.16 our estimate vs. $1.15 consensus
Nordson Corp (NDSN): $2.37 our estimate vs. $2.29 consensus
Agilent Technologies Inc (A): $1.18 our estimate vs. $1.12 consensus
Silvercorp Metals Inc (SVM): $0.04 our estimate vs. $0.04 consensus

A look ahead to next week

The week of Memorial Day will be one of the quieter weeks in the earnings quarter, but there will be several large Technology names for investors to keep an eye out, as well as a couple Consumer Cyclical companies to watch. Here is a quick look at the highlights:

Tech

Salesforce Inc (CRM): $1.13 Proximilar’s AI EPS estimate vs. $0.95 consensus EPS prediction
Crowdstrike Holdings Inc (CRWD): $0.26 our AI forecast vs. $0.23 consensus
HP Inc (HPQ): $1.12 our estimate vs. $1.05 consensus EPS estimate
Digital Turbine Inc (APPS): $0.43 our estimate vs. $0.39 consensus
Broadcom Inc (AVGO): $9.09 our estimate vs. $8.71 consensus
Okta Inc (OKTA): -$0.22 our estimate vs. -$0.34 consensus
MongoDB Inc (MDB): $0.11 our estimate vs. -$0.07 consensus
Ambarella Inc (AMBA): $0.36 our estimate vs. $0.37 consensus
Weibo Corp (WB): $0.44 our estimate vs. $0.45 consensus
Yext Inc (YEXT): -$0.05 our estimate vs. -$0.07 consensus
Veeva Systems Inc (VEEV): $0.99 our estimate vs. $0.92 consensus
Semtech Corp (SMTC): $0.82 our estimate vs. $0.76 consensus
NetApp Inc (NTAP): $1.36 our estimate vs. $1.28 consensus
Hewlett Packard Enterprise Co (HPE): $0.52 our estimate vs. $0.46 consensus
Chewy Inc (CHWY): -$0.12 our estimate vs. -$0.11 consensus

Others

Lululemon Athletica Inc (LULU): $1.55 our AI estimate vs. $1.44 consensus EPS estimate
Hormel Foods Corp (HRL): $0.48 our estimate vs. $0.47 consensus
PVH Corp (PVH): $1.80 our estimate vs. $1.60 consensus
Toro Co (TTC): $1.28 our estimate vs. $1.25 consensus
Ollie’s Bargain Outlet Holdings Inc (OLLI): $0.32 our estimate vs. $0.31 consensus
Mesoblast Ltd (MESO): -$0.18 our estimate vs. -$0.12 consensus
Designer Brands Inc (DBI): $0.27 our estimate vs. $0.24 consensus

It is genuinely hard to cover all the upcoming earnings releases in a single, brief report. For a more complete picture, incl. EPS estimates, revenue forecasts, stocks’ volatility in response to announcements & more, visit stocks.proximilar.com. Proximilar provides the world’s most detailed and accurate earnings & revenues forecasts.

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