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WebMD Health Corp (WBMD)

  • Jul. 2, 2014, 10:01 AM
    • Stifel's Steven Rubis has upgraded WebMD (WBMD) to Buy, and set a $60 PT.
    • Rubis: "Our upgrade stems from strong industry macro trends and our view that current estimates for 3Q14 and 4Q14 advertising revenue growth are likely conservative." He now forecasts 10% Y/Y ad growth for both Q3 and Q4, up from prior estimates of 8% and 5%. Consensus is at 10.3% and 8%.
    • Rubis adds macro trends and company-specific ad trends point to "solid" Q2 results, and thinks the Q2 report could be accompanied by a 2014 guidance hike.
    • Roughly a quarter of the float was shorted as of June 13.
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  • Jun. 19, 2014, 4:34 PM
    • WebMD (WBMD) is suing Everyday Health (EVDY) for "trademark infringement, false advertising and unfair competition" in an NY district court.
    • WebMD alleges Everyday's use of the WebMD trademark on its website are search ad campaigns is meant to "deceive and mislead consumers into believing they are visiting WebMD's trusted health and wellness resources," and that such practices also "mislead advertisers whose ads are placed by Everyday Health on areas of its website that infringe WebMD's brands."
    • The company wants "a permanent injunction barring Everyday Health from engaging in such illegal acts," along with damages and attorney's fees.
    • EVDY -1.8% AH.
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  • Apr. 30, 2014, 5:32 PM
    • WebMD (WBMD) expects Q2 revenue of $137M-$140M vs. a $139.7M consensus. Net income is expected to be in a range of $7.5M-$8.5M, up from Q1's $6.3M. Full-year guidance (hiked on April 14) is reiterated, and WebMD's buyback authorization has been raised by $30M to $44M. Shares +1.6% AH. (Q1 results, PR)
    • Brightcove (BCOV) expects Q2 revenue of $29.7M-$30.2M and EPS of -$0.11 to $0.12, below a consensus of $31.1M and -$0.10. Full-year guidance is healthier: Revenue of $126M-$130M and EPS of -$0.19 to -$0.25 vs. a consensus of $128.5M and -$0.35. Shares +7.2% AH. (Q1 results, PR)
    • LifeLock (LOCK) expects Q2 revenue of $113M-$114M and EPS of $0.03-$0.04 vs. a consensus of $112.6M and $0.06. Full-year guidance is for revenue of $460M-$468M and EPS of $0.44-$0.48 vs. a consensus of $463.5M and $0.45. Shares -3.8% AH. (Q1 results, PR)
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  • Apr. 30, 2014, 4:04 PM
    • WebMD Health Corp (WBMD): Q1 GAAP EPS of $0.15 beats by $0.04.
    • Revenue of $133.8M (+18.7% Y/Y) beats by $1.44M.
    • Press Release
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  • Apr. 14, 2014, 4:48 PM
    • Citing improved sales activity, CEO David Schlanger says Q1 revenues for WebMD (WBMD +16.5%) will be at the high end of the previously-disclosed $130M - $133M.
    • EBITDA will come in slightly above the upper range target of $30.5M.
    • 2014 results for revenue ($545M - $575M), EBITDA ($140M - $155M) and net income ($27M - $39M) will all be in the upper half of their projected ranges.
    • Average unique visitors per month in Q1 was 174M generating 3.5B page views for the period.
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  • Apr. 14, 2014, 12:45 PM
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  • Apr. 14, 2014, 9:18 AM
    • WebMD (WBMD) expects Q1 revenue to be at the high end of a prior guidance range of $130M-$133M; the consensus is at $132.1M. Adjusted EBITDA and net income are expected to be slightly above prior guidance ranges of $28.5M-$30.5M and 3%-4% of revenue, respectively.
    • Full-year revenue, adjusted EBITDA, and net income are now expected to be at the high end of prior guidance ranges of $545M-$575M, and $140M-$155M, and $27M-$39M; the revenue consensus is at $572.6M.
    • WebMD also reports its Q1 unique users and page views respectively rose 32% and 26% Y/Y to 174M and 3.5B, and that it only has $18M remaining on its buyback authorization. The company had $51M remaining on March 21, following a $40M hike.
    • Q1 results arrive on April 30.
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  • Apr. 4, 2014, 9:16 AM
    • William Pence, WebMD's (WBMD) CTO since 2007, is leaving the company to "pursue other opportunities." (8-K)
    • Pence's responsibilities are being assumed by other execs. He'll remain with WebMD for a brief transition period.
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  • Mar. 21, 2014, 12:44 PM
    • Just six weeks after adding $50M to its buyback authorization, WebMD (WBMD +5.6%) is tacking on another $40M. (8-K)
    • The company adds it has spent $58.7M in Q1 to buy back 1.4M shares (implied avg. purchase price of $41.92). After factoring those purchases, WebMD now has $51M available under its authorization.
    • WebMD spent $211.3M on buybacks in Q4. It ended 2013 with $855M in cash, and $952M in debt.
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  • Mar. 4, 2014, 9:39 AM
    • SunEdison (SUNE +7.3%) has been upgraded to Overweight by Morgan Stanley. The firm is upbeat about SunEdison's addressable market for commercial-scale solar projects.
    • GT Advanced (GTAT +8.4%) has been started at Buy by Goldman.
    • WebMD (WBMD -3.5%) has been cut to Hold by Stifel. The firm says ad metrics are turning negative, and thinks the launch of a convertible offering following a huge buyback is a troubling sign..
    • Fortinet (FTNT +1.3%) has been started at Outperform by Wedbush.
    • TiVo (TIVO +1.3%) has been started at Buy by Topeka Capital.
    • Constant Contact (CTCT +3.4%) has been started at Buy by Roth.
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  • Feb. 20, 2014, 4:19 PM
    • WebMD Health Corp (WBMD): Q4 EPS of $0.25
    • Revenue of $146.3M (+10.2% Y/Y) beats by $1.15M.
    • Press Release
    | Comment!
  • Feb. 20, 2014, 12:10 AM
  • Feb. 19, 2014, 5:35 PM
  • Feb. 14, 2014, 10:59 AM
    • RBC has declared WebMD (WBMD +4.1%) a Top Pick, assigned the company a $71 PT, and declared the "future Google of health care."
    • The firm thinks WebMD's ability to profit from a $50B+ market for consumer healthcare IT services isn't reflected in its current valuation.
    • Shares sold off last week after WebMD pre-announced Q4 results and issued Q1/2014 guidance. They remain close to their 52-week high of $50.56.
    • Full Q4 results arrive on Feb. 20.
    | Comment!
  • Feb. 10, 2014, 4:26 PM
    • Ahead of a Tuesday Stifel conference talk, WebMD (WBMD) says it expects to report Q4 revenue of $145.5M-$146.5M and EPS of $0.23-$0.25, above a consensus of $144M and $0.17.
    • The company is also guiding for Q1 revenue of $130M-$133M (above a $122.5M consensus), and 2014 revenue of $545M-$575M (in-line with a $565M consensus). Full-year net income is expected to total $27M-$29M, up from 2013's $14.3M-$15.1M.
    • In addition, WebMD is adding $50M to its buyback program, raising its total available buyback funds to $70M. $211.3M was spent on buybacks in Q4.
    • The company strikes a cautious tone about its early 2014 performance, stating "the first five weeks of sales activity does not reflect year-on-year growth;" the Q1 revenue consensus is for 8.6% growth.
    • WebMD insists it doesn't think the weakness is reflective of a broader trend, and speculates it could partly be due to shifts in customer budgeting/buying patterns.
    • Official Q4 results are due on Feb. 20.
    | Comment!
  • Jan. 8, 2014, 1:24 PM
    • WebMD (WBMD +3.4%) is up 10% over the last two days, thanks largely to an upbeat Citi conference presentation (webcast) from CEO David Schlanger.
    • Among other things, Schlanger mentioned WebMD is actively looking for potential acquisitions. The company had $777M in cash at the end of Q3, and $700M in debt.
    | Comment!
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Company Description
WebMD Health Corp provides health information services to consumers, physicians and other healthcare professionals, employers and health plans through its public and private online portals and health-focused publications.