After building a trading range at $50 – $55, Copart (CPRT) broke out last week, gaining 10%. The firm posted steady first-quarter results. Management once again demonstrated its expertise.
Copart reported an increase in revenue, up by 12.7% Y/Y to $1.15 billion. The company, which provides an online automobile auction platform, provided attractive price reductions for off-lease vehicles.
Datadog (DDOG) traded in a range in the low $120s before breaking out last week to close at $154.83. The stock benefited from Elastic’s (ESTC) strong Q2 results. ESTC stock, which closed up by around 15% on November 22, 2024, posted an unexpected turnaround in its business execution. It reported an improved win rate, along with GenAI driving its growth.
In China, PDD (PDD), which is known best for its Temu app, posted a Q3 earnings miss. In the prior quarter, the firm warned that its revenue growth may see some moderation. Competition and external factors are headwinds to its business. In Q3, the firm benefited from investments in its platform ecosystem. Merchants provided positive feedback. In the long run, merchants and consumers will thrive on PDD’s platform as business growth moderates. In addition, the firm has further supply chain upgrades and investments to support its business.
