Jive Software: Realignment Confirms The Story Doesn't Jive
Buy Jive Software At A Discount To A Top Venture Capitalist
Lazarus Advisors • 69 Comments
Lazarus Advisors • 69 Comments
Will This Social Butterfly Ever Soar?
Stone Fox Capital
Stone Fox Capital
Tue, May 10, 4:09 PM
Mon, May 9, 5:35 PM
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Wed, Feb. 17, 4:11 PM
Tue, Feb. 16, 5:35 PM| Tue, Feb. 16, 5:35 PM
Wed, Jan. 20, 1:18 PM
- Like clockwork, high-beta tech stocks continue selling off at a feverish pace as markets nosedive. Today's selloff comes with the Nasdaq down 2.7%, and the S&P 3%. Margin calls are likely a contributing factor.
- Solar stocks, which sold off yesterday even as major indices moved little, are underperforming again as energy stocks get routed once more and oil drops below $27/barrel. Hard-luck SunEdison (SUNE -13.6%) is now close to $2. Also tumbling: Canadian Solar (CSIQ -8.8%), ReneSola (SOL -8.2%), and Yingli (YGE -6.9%).
- Security tech plays FireEye (FEYE -9.3%), Palo Alto Networks (PANW -6.1%), Rapid7 (RPD -11.6%), and Vasco (VDSI -10.5%) aren't faring better - peers Fortinet and Barrcauda were downgraded this morning. Nor are Splunk (SPLK -7.7%) and Tableau (DATA -7.2%), two firms often hyped as big data/analytics plays, or Russian tech firms Yandex (YNDX -6.6%) and Qiwi (QIWI -6.9%), which often sell off when oil prices and the ruble are under pressure.
- Elsewhere in tech, big decliners include Zillow (Z -7.1%), Square (SQ -6.7%), Fitbit (FIT -6.6%), Groupon (GRPN -6.9%), TrueCar (TRUE -7.7%), Pure Storage (PSTG -7.8%), Jive Software (JIVE -7.4%), Shopify (SHOP -7.2%), Ruckus Wireless (RKUS -8%), Renren (RENN -6.8%), Infinera (INFN -6.1%), TripAdvisor (TRIP -6.5%), Ellie Mae (ELLI -6.7%), and Knowles (KN -6.2%).
- Also off sharply: Several large-cap tech stocks, TowerJazz, Synaptics, Adtran
Dec. 11, 2015, 3:21 PM
- A long list of tech firms are off sharply as the Nasdaq and S&P respectively drop 2% and 2.2% ahead of an expected Fed rate hike.
- The casualty list includes threat-prevention hardware/software provider FireEye (FEYE -6.2%), machine data analytics software vendor Splunk (SPLK -7.1%), driver-assistance system vendor Mobileye (MBLY -6.3%), supercomputer makers Cray (CRAY -7.6%) and Silicon Graphics (SGI -7%), audio codec chipmaker Cirrus Logic (CRUS -5.3%), and local services marketplace Angie's List (ANGI -6.3%).
- Others include cloud HR/financials software provider Workday (WDAY -5.6%). enterprise social networking software firm Jive Software (JIVE -5.9%), cloud telematics software provider FleetMatics (FLTX -5.2%), mobile accessory maker Zagg (ZAGG -7.5%), network visibility/monitoring hardware provider Gigamon (GIMO -5.8%), smart grid networking hardware/software provider Silver Spring (SSNI -8.9%), and online travel deals provider Travelzoo (TZOO -6%).
Nov. 9, 2015, 4:46 PM
- JIVE Software has risen to $5.10 after hours after beating Q3 estimates and guiding for Q4 revenue of $49M-$50M and EPS of -$0.04 to -$0.06 vs. a consensus of $49.2M and -$0.08.
- Billings: Short-term billings rose 6% Y/Y in Q3 to $47.9M, an improvement from Q2's 3% growth. Total billings fell 14% to $43.3M. Both short-term and total billings trailed revenue of $49.9M. Jive still expects 0%-5% 2015 short-term billings growth.
- GAAP operating expenses fell by $1M Y/Y to $40.5M. Jive ended Q3 with $119.6M in cash (down $7.1M Q/Q), and $4.2M in debt. Full-year free cash flow is expected to be in a range of -$2M to -$7M.
- Q3 results, PR
Nov. 9, 2015, 4:08 PM
- Jive Software (NASDAQ:JIVE): Q3 EPS of -$0.03 beats by $0.03.
- Revenue of $49.91M (+7.1% Y/Y) beats by $0.55M.
Nov. 8, 2015, 5:35 PM
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Sep. 10, 2015, 1:36 PM
- Stating the company's transition to a freemium business model brings with it "increased execution risk," Morgan Stanley's Stan Zlotsky has downgraded Jive Software (JIVE -1.7%) to Underweight, and cut his target by $1 to $4.
- Zlotsky: "On the product side, Jive's new set of work productivity solutions are either free or carry a low ASP, which impacts initial deal sizes and creates tough comps from prior years ... On the distribution side, pivoting from an enterprise selling motion to one driven by inside sales takes time and could result in heavy attrition within the existing sales force, some of which we saw in Q2.”
- He adds questions remain about the willingness of customers to pay for value-added software/services, given Jive's competition (e.g. Microsoft/Yammer, Salesforce, IBM, SAP).
- Shares are lower on a day the Nasdaq is up 1.2%. They continue to trade at a small fraction of their 2012 highs.
Aug. 10, 2015, 6:12 PM
- Jeff Launtenbach, formerly a senior sales exec at Salesforce.com, SAP, and IBM, has been named JIVE Software's field operations chief. That puts him in charge of sales, business development, and channel partner relationships. (PR)
- The announcement comes 6 days after Jive provided soft revenue/billings guidance to go with a Q2 beat. Sales SVP John McCracken left the company at the end of 2014.
Aug. 5, 2015, 10:08 AM
- As was the case in May and February, JIVE Software's revenue/EPS beat has been accompanied by light sales guidance. The company expects Q3 revenue of $49M-$50M and EPS of -$0.05 to -$0.07 vs. a consensus of $50.3M and -$0.07, and 2015 revenue of $192M-$196M and EPS of -$0.18 to -$0.22 vs. a consensus of $197.5M and -$0.23. Full-year free cash flow guidance is still at -$2M to -$7M.
- Billings: With competition from the likes of Microsoft/Yammer, Salesforce, and IBM continuing to weigh, short-term billings (revenue + change in short-term deferred revenue) rose only 3% Y/Y in Q2 to $47.6M. Total billings (revenue + change in total deferred revenue) rose 8% to $44.1M. Both figures are slightly below revenue of $48.6M (+12%). Jive now expects 0%-5% 2015 short-term billings growth, down from 5%-10% as of May.
- Cost cuts boosted EPS: GAAP operating expenses fell by $1.9M Y/Y to $39.3M. Jive ended Q2 with $126.6M in cash/investments (compares with a $308M market cap), and $4.8M in debt.
- Q2 results, PR
Aug. 4, 2015, 4:14 PM
- Jive Software (NASDAQ:JIVE): Q2 EPS of -$0.03 beats by $0.03.
- Revenue of $48.61M (+12.1% Y/Y) beats by $0.88M.
Aug. 3, 2015, 5:35 PM
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May 6, 2015, 2:33 PM
- Though JIVE Software beat Q1 estimates, it's guiding for Q2 revenue of $47M-$48M, below a $48.1M consensus. EPS guidance of -$0.05 to -$0.07 is in-line with a -$0.06 consensus.
- Full-year guidance is for revenue of $195M-$200M and EPS of -$0.22 to -$0.26, in-line with a consensus of $197.1M and -$0.23.
- Competition from enterprise social networking rivals still looms large: Short-term billings (revenue + change in short-term deferred revenue) rose just 3% Y/Y in Q1 to $43.3M (compares with 15% revenue growth), and total billings (revenue + change in total deferred revenue) fell 2% to $39M. An 8% Y/Y drop in GAAP operating expenses to $39.4M provided a lift to EPS.
- With expectations low going in, markets are giving a thumbs-up to the numbers. Jive sold off hard in February due to a billings miss and soft guidance. The company recently launched an enterprise messaging app (Jive Chime) to positive early reactions.
- Q1 results, PR
May 5, 2015, 4:10 PM
- Jive Software (NASDAQ:JIVE): Q1 EPS of -$0.02 beats by $0.05.
- Revenue of $47.13M (+14.9% Y/Y) beats by $0.43M.
Jive Software, Inc. provides a social business software platform. It enables productive and effective workforce through enhanced communications and collaboration both inside and outside the enterprise. The company engages platform enables and improves collaboration across two principal... More
Industry: Internet Software & Services
Country: United States
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