Stocks On The Move: SONO, BMBL, SHOP, FISV, LOW

Sonos (SONO) earnings report indicated $0.19 in EPS and $371.8M in revenue. The SONO stock price plummeted following the news. Sonos CEO said that they expect to return to double-digit revenue growth when macroeconomic conditions normalize. Next, Shawn Cruz weighs in on the Bumble (BMBL) earnings call that revealed -$0.03 in EPS and $220.45M. Bumble second quarter app paying users amounted to 1.9M, which was up 31%. Atlantic Equities upgraded the Shopify (SHOP) stock to overweight from neutral. The analyst stated that Shopify (SHOP) continues to be a market leader in product innovation. Other e-commerce stocks include Amazon (AMZN), Etsy Inc. (ETSY), and Wayfair (W). Also, Evercore ISI upgraded the Fiserv (FISV) stock to outperform from in-line. The analyst said that Fiserv (FISV) wins more with growth, scale, and cash flow fund innovation and acquisitions. Finally, Cruz discusses Citi downgrading Lowe’s (LOW) stock to neutral from buy.