Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Nio: Difficult to Refute Most of Grizzly’s Allegations

Shift: Strong Earnings Momentum to Continue with Expanding Software Testing into Metaverse Market

Shift 2Q Results: Earnings Beat with Further Upgrade to Full-Year Guidance

JD Health: Minimal Impact from New Policy on Digital Healthcare

Tencent Sells Down Its Stake in Koolearn – Divestments to Continue Further

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>Shift reported 3QFY08/2022 results yesterday. Revenue grew 36.1% YoY to JPY17.1bn (vs consensus JPY18.3bn) while OP grew 25.7% to JPY1.3bn (vs consensus JPY1.54bn).</li>
<li>Revenue from the largest segment Enterprise market grew 35.3% while enterprise segment grew 47.5% YoY during the quarter.</li>
<li>According to Shift, the application of revenue recognition standard has lowered revenues and OP. The drop in OPM was due to heavy SG&amp;A expenses as a result of hiring.</li>
</ul>


Shift reported 3QFY08/2022 results yesterday. Revenue grew 36.1% YoY to JPY17.1bn (vs consensus JPY18.3bn) while OP grew 25.7% to JPY1.3bn (vs consensus JPY1.54bn).
Revenue from the largest segment Enterprise market grew 35.3% while enterprise segment grew 47.5% YoY during the quarter.
According to Shift, the application of revenue recognition standard has lowered revenues and OP. The drop in OPM was due to heavy SG&amp;A expenses as a result of hiring.


3분기 실적 변동: 컨센서스보다 낮은 수익, 하지만 대규모 채용 지출은 장기적으로 도움이 될 듯

Shift Inc

3분기 실적 변동: 컨센서스보다 낮은 수익, 하지만 대규모 채용 지출은 장기적으로 도움이 될 듯