Earnings Preview · 05 November 2026
Where our screen stands going in
Fails the principled screen, Debt ratio. A strong business is not the same as a suitable one; for a values-conscious book this is a do-not-chase regardless of the print.
What the Street expects
Consensus looks for earnings of about $-0.10 a share on revenue near $3.5B. The median analyst target is $130 (range $103 to $156), 32% above the $98.26 share price, across 10 analysts.
How it has traded on past prints
Across the last 24 reports, the shares moved an average of -0.2% in the five sessions after the print and +10.8% over twenty. After a beat the average follow-through was -9.4%; after a miss, +44.5%. Misses have not been punished more than beats were rewarded, so the headline number alone has been a poor guide to the reaction here; guidance and the call matter more. There is no reliable drift pattern: the first move has often faded, so chasing the gap has not paid.
Levels that matter
At $98.26 the shares sit 33% below the 52-week high of $147.25 and 49% above the low of $65.76 (40% of the way up the range). The 50-day average is $90.58, below the price. The 200-day average is $107.50, above the price.
Valuation going in
Our fair-value work puts the shares about 27% below what the business is worth: value on offer. Our fair-value estimate is $134.16 against the current share price of $98.26. Revenue is growing about -4% with net margins near -39%.
Our stance
We are not participants, the name fails our principled screen, so we watch it as a sentiment gauge, not a holding.
What the flow says going in
Underlying money flow is neutral (21-day Chaikin Money Flow +0.05, five-day price change +12.8%, as of 2026-11-03, desk flow model): no strong accumulation or distribution signature.
This is analysis, not financial advice. Always manage your risk.
