"ב בארה ישראליות
E Q U I T Y
R E S E A R C H
I S R A E L
2016 באפריל18
מחלקת המחקר
ישראליות בארה " ב
2016 לקראת עונת הדו”חות של הרבעון הראשון
בניגוד לעונת הדוחות. בקרב החברות הישראליות הנסחרות בארה"ב2016 השבוע נפתחת עונת הדוחות של הרבעון הראשון
לאחר ראלי של, כעת ניתן לראות היפוך לטובה בסנטימנט המשקיעים, שעברה בצל הירידות בשווקים בתחילת השנה,הקודמת
וכעת עומדות, גם המניות הישראליות נהנו ממגמת העליות האחרונה. הבולט במיוחד באפיקי הסיכון,החודשיים האחרונים
בהתחשב בסביבה,בפני מבחן חשוב של עמידה בציפיות גבוהות יותר של המשקיעים גם להמשך השנה – משימה לא פשוטה
הוא, שחשוב ספציפית עבור חברות הטכנולוגיה הישראליות, אתגר נוסף.מאתגרת עדיין של האטה בקצב הצמיחה הגלובאלית
דבר שעלול להעיק על רווחיות החברות, בשלושת החודשים האחרונים6%- בשיעור חד של כ,מהלך התחזקות השקל מול הדולר
.שחלק ניכר מהוצאותיהן נקובות בשקלים
, חברות ישראליות50-אנו מרכזים בעדכון זה את רשימת מועדי פרסום הדוחות ואת התחזיות עבור למעלה מ
.( החודשים האחרונים )בעמוד הבא3-בנוסף לעדכון ביצועי מניותיהן ב
Company
Name
Mellanox Technologies Ltd
Check Point Software Technolog
Silicom Ltd
MediWound Ltd
DSP Group Inc
Camtek Ltd/Israel
Xura Inc
CEVA Inc
Radware Ltd
Allot Communications Ltd
Compugen Ltd
AudioCodes Ltd
Mylan NV
Nova Measuring Instruments Ltd
SodaStream International Ltd
Orbotech Ltd
Alon USA Energy Inc
Ormat Technologies Inc
Wix.com Ltd
Alcobra Ltd
Varonis Systems Inc
Caesarstone Sdot-Yam Ltd
Perion Network Ltd
Amdocs Ltd
Sapiens International Corp NV
Kornit Digital Ltd
Perrigo Co PLC
Imperva Inc
NICE-Systems Ltd
Mazor Robotics Ltd
Delek US Holdings Inc
Attunity Ltd
CyberArk Software Ltd
ReWalk Robotics Ltd
Protalix BioTherapeutics Inc
SolarEdge Technologies Inc
Enzymotec Ltd
Pluristem Therapeutics Inc
Teva Pharmaceutical Industries
Ceragon Networks Ltd
LivePerson Inc
OPKO Health Inc
magicJack VocalTec Ltd
Magic Software Enterprises Ltd
Mobileye NV
Stratasys Ltd
Kamada Ltd
Foamix Pharmaceuticals Ltd
Vascular Biogenics Ltd
Syneron Medical Ltd
Tower Semiconductor Ltd
Top Image Systems Ltd
Bio Blast Pharma Ltd
Evogene Ltd
Palo Alto Networks Inc
Neuroderm Ltd
Verint Systems Inc
Stock
Ticker
MLNX
CHKP
SILC
MDWD
DSPG
CAMT
MESG
CEVA
RDWR
ALLT
CGEN
AUDC
MYL
NVMI
SODA
ORBK
ALJ
ORA
WIX
ADHD
VRNS
CSTE
PERI
DOX
SPNS
KRNT
PRGO
IMPV
NICE
MZOR
DK
ATTU
CYBR
RWLK
PLX
SEDG
ENZY
PSTI
TEVA
CRNT
LPSN
OPK
CALL
MGIC
MBLY
SSYS
KMDA
FOMX
VBLT
ELOS
TSEM
TISA
ORPN
EVGN
PANW
NDRM
VRNT
Reporting
Date
20/04/2016
20/04/2016
21/04/2016
21/04/2016
27/04/2016
28/04/2016
30/04/2016
02/05/2016
03/05/2016
03/05/2016
03/05/2016
03/05/2016
03/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
04/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
05/05/2016
06/05/2016
09/05/2016
09/05/2016
09/05/2016
09/05/2016
09/05/2016
09/05/2016
09/05/2016
09/05/2016
10/05/2016
10/05/2016
10/05/2016
11/05/2016
11/05/2016
17/05/2016
17/05/2016
19/05/2016
25/05/2016
25/05/2016
01/06/2016
Confirmed/
Oppenheimer est.
Estimated Sales ($mln)
Confirmed
Confirmed
Confirmed
Confirmed
Confirmed
Estimated
Estimated
Confirmed
Confirmed
Confirmed
Estimated
Confirmed
Estimated
Confirmed
Estimated
Confirmed
Confirmed
Estimated
Confirmed
Estimated
Confirmed
Estimated
Estimated
Confirmed
Estimated
Estimated
Estimated
Confirmed
Estimated
Estimated
Confirmed
Confirmed
Confirmed
Estimated
Estimated
Estimated
Estimated
Estimated
Confirmed
Confirmed
Estimated
Estimated
Estimated
Estimated
Estimated
Confirmed
Estimated
Estimated
Estimated
Estimated
Estimated
Estimated
Estimated
Estimated
Estimated
Estimated
Estimated
N/A
406.0
N/A
0.4
N/A
N/A
79.0
16.7
49.2
24.6
N/A
N/A
N/A
N/A
N/A
188.0
N/A
N/A
60.5
0.0
N/A
N/A
N/A
925.0
N/A
N/A
N/A
59.2
225.0
N/A
N/A
N/A
43.0
N/A
N/A
123.0
N/A
N/A
4,882.0
64.3
55.6
N/A
N/A
N/A
N/A
N/A
N/A
0.5
N/A
N/A
N/A
N/A
N/A
N/A
337.0
0.0
251.0
Consensus est.
1Q/2015
EPS ($)
Sales ($mln)
EPS ($)
Sales ($mln)
EPS ($)
N/A
1.04
N/A
(0.28)
N/A
N/A
(0.07)
0.17
0.05
0.01
N/A
N/A
N/A
N/A
N/A
0.57
N/A
N/A
(0.35)
(0.19)
N/A
N/A
N/A
0.87
N/A
N/A
N/A
(0.29)
0.74
N/A
N/A
N/A
0.16
N/A
N/A
0.32
N/A
N/A
1.16
(0.02)
(0.01)
N/A
N/A
N/A
N/A
N/A
N/A
(0.23)
N/A
N/A
N/A
N/A
N/A
N/A
0.42
(0.36)
0.44
192.7
404.4
20.6
0.3
27.0
24.7
81.0
16.4
49.6
24.3
0.6
33.7
2,239.5
35.5
88.8
187.6
914.0
136.7
60.7
0.0
28.5
115.3
70.1
925.3
48.0
22.6
1,399.6
59.6
225.5
6.8
1,011.8
12.0
43.4
1.6
1.7
122.8
13.9
0.1
4,807.2
63.5
55.5
266.4
25.9
43.6
73.2
164.7
15.2
0.6
0.0
64.4
276.0
7.2
0.0
4.5
339.3
0.0
250.7
0.75
1.03
0.48
(0.24)
(0.11)
0.02
0.10
0.16
0.07
(0.00)
(0.15)
0.04
0.76
0.14
0.13
0.53
(0.34)
0.34
(0.31)
(0.21)
(0.39)
0.43
0.04
0.87
0.12
0.02
1.90
(0.28)
0.74
(0.11)
(0.36)
(0.01)
0.16
(0.60)
(0.08)
0.39
0.05
(0.09)
1.17
(0.02)
(0.00)
(0.03)
0.19
0.12
0.14
(0.04)
(0.06)
(0.21)
(0.16)
0.01
0.66
(0.08)
(0.29)
(0.11)
0.41
(0.35)
0.40
146.7
372.6
18.8
0.1
38.0
21.8
119.1
13.8
57.2
29.5
0.5
37.5
1,871.7
27.5
90.3
184.8
1,103.2
120.2
44.5
0.0
23.0
107.8
52.1
906.29
41.0
17.6
1,049.1
44.8
246.0
4.5
1,150.60
10.4
32.9
0.6
4.4
86.4
11.3
0.1
4,982.0
93.7
59.8
30.1
25.5
40.3
45.6
172.7
8.9
0.4
0.0
63.4
226.2
8.3
0.0
2.7
234.2
0.0
270.4
0.60
0.95
0.52
(0.30)
0.09
0.01
0.45
0.08
0.22
0.09
(0.12)
0.05
0.70
0.15
0.40
0.48
0.30
0.26
(0.30)
(0.26)
(0.44)
0.46
0.19
0.82
0.10
0.08
1.85
(0.26)
0.72
(0.24)
(0.28)
0.01
0.16
(0.42)
(0.06)
0.20
0.09
(0.10)
1.36
(0.02)
0.04
(0.26)
0.06
0.12
0.08
0.04
(0.15)
(0.14)
(0.15)
0.02
0.78
(0.06)
(0.23)
(0.13)
0.23
(0.09)
0.66
.
החודשים האחרונים3-תשואת המניות הישראליות הנסחרות בארה"ב ב
בראש רשימת. שהטיב גם עם מניות ישראליות רבות,מאז עונת הדוחות הקודמת היינו עדים לראלי באפיקי הסיכון בשווקים
לצד חברות צמיחה,(OPK ,CGEN ,ORMP ,KERX ,PSTI) התשואות בשלושת החודשים האחרונים עומדות מניות ביומד רבות
- בפרמיה נאה של כSES ( שנרכשה על ידי חברת שירותי הלווייןRRM) RRMedia ( וכן מניית חברתSSYS ,MBLY ,MLNX)
( או בתוצאותPERI ,ATTU ,RDWR) המניות שהציגו תשואה שלילית מירבית הן של החברות שאכזבו בתחזיותיהן.60%
כגון מובילות הפארמה, גם מניות החברות שנתפסות דווקא כבעלות יציבות גבוהה, באופן מפתיע.(CHMA) הניסויים הקליניים
. סבלו גם הן מירידות שערים,CYBR - וIMPV ,PANW וחברות הסייברPRGO- וTEVA הישראלית
Name
Pluristem Therapeutics Inc
RR Media Ltd
Keryx Biopharmaceuticals Inc
Internet Gold‐Golden Lines Ltd
Oramed Pharmaceuticals Inc
Mellanox Technologies Ltd
Stratasys Ltd
Compugen Ltd
Mobileye NV
OPKO Health Inc
Sapiens International Corp NV
Gilat Satellite Networks Ltd
Formula Systems 1985 Ltd
VeriFone Systems Inc
Orbotech Ltd
Ormat Technologies Inc
Neuroderm Ltd
Galmed Pharmaceuticals Ltd
Elbit Systems Ltd
Israel Chemicals Ltd
Ceragon Networks Ltd
CYREN Ltd
Magic Software Enterprises Ltd
Ituran Location and Control Lt
Silicom Ltd
Camtek Ltd/Israel
Check Point Software Technolog
Brainstorm Cell Therapeutics I
B Communications Ltd
Nova Measuring Instruments Ltd
Cellcom Israel Ltd
Partner Communications Co Ltd
AudioCodes Ltd
NICE‐Systems Ltd
Mazor Robotics Ltd
SodaStream International Ltd
RADCOM Ltd
Gazit‐Globe Ltd
Magal Security Systems Ltd
Amdocs Ltd
Wix.com Ltd
Caesarstone Sdot‐Yam Ltd
MediWound Ltd
BioLine RX Ltd
Varonis Systems Inc
Syneron Medical Ltd
Vascular Biogenics Ltd
Protalix BioTherapeutics Inc
CEVA Inc
Taro Pharmaceutical Industries
SolarEdge Technologies Inc
LivePerson Inc
Tower Semiconductor Ltd
Allot Communications Ltd
Foamix Pharmaceuticals Ltd
Kamada Ltd
Enzymotec Ltd
MacroCure Ltd
Evogene Ltd
ReWalk Robotics Ltd
Xura Inc
DSP Group Inc
Verint Systems Inc
Bio Blast Pharma Ltd
Palo Alto Networks Inc
Perrigo Co PLC
Teva Pharmaceutical Industries
Kornit Digital Ltd
Alcobra Ltd
SuperCom Ltd
Delek US Holdings Inc
Imperva Inc
Alon USA Energy Inc
Chiasma Inc
CyberArk Software Ltd
Kenon Holdings Ltd/Singapore
Radware Ltd
magicJack VocalTec Ltd
Perion Network Ltd
Attunity Ltd
Symbol
PSTI
RRM
KERX
IGLD
ORMP
MLNX
SSYS
CGEN
MBLY
OPK
SPNS
GILT
FORTY
PAY
ORBK
ORA
NDRM
GLMD
ESLT
ICL
CRNT
CYRN
MGIC
ITRN
SILC
CAMT
CHKP
BCLI
BCOM
NVMI
CEL
PTNR
AUDC
NICE
MZOR
SODA
RDCM
GZT
MAGS
DOX
WIX
CSTE
MDWD
BLRX
VRNS
ELOS
VBLT
PLX
CEVA
TARO
SEDG
LPSN
TSEM
ALLT
FOMX
KMDA
ENZY
MCUR
EVGN
RWLK
MESG
DSPG
VRNT
ORPN
PANW
PRGO
TEVA
KRNT
ADHD
SPCB
DK
IMPV
ALJ
CHMA
CYBR
KEN
RDWR
CALL
PERI
ATTU
Current
Market
OPCO
Price
Cap, $mln
Rating
1.76
140.7 Not Rated
13.04
226.9 Not Rated
5.06
535.4 Not Rated
14.76
283.4 Not Rated
9.30
122.0 Not Rated
53.82
2,563.1 Not Rated
25.48
1,327.1 Not Rated
6.86
346.9 Outperform
40.04
8,777.9 Not Rated
10.80
5,895.1
Perform
12.61
614.9 Not Rated
4.29
233.0 Not Rated
31.00
456.6 Not Rated
28.27
3,115.4 Not Rated
24.35
1,049.8 Outperform
41.85
2,063.5 Not Rated
16.24
350.9 Outperform
6.72
74.6 Not Rated
99.65
4,259.2 Not Rated
4.47
5,700.2 Not Rated
1.26
96.5
Perform
1.72
67.3 Not Rated
6.40
282.7 Not Rated
20.23
424.2 Not Rated
33.10
240.8 Not Rated
2.13
75.1 Not Rated
88.40
15,987.5 Outperform
2.41
45.0 Not Rated
28.31
846.2 Not Rated
10.61
287.5 Not Rated
7.39
743.5 Not Rated
4.82
766.9 Not Rated
4.48
164.9 Not Rated
64.14
3,828.1 Outperform
11.91
253.2 Not Rated
14.28
301.1 Not Rated
13.84
121.5 Not Rated
9.17
1,792.6 Not Rated
4.66
76.4 Not Rated
58.70
8,825.7 Outperform
22.62
912.1 Outperform
38.48
1,354.1 Not Rated
8.04
175.7 Outperform
1.02
57.3 Not Rated
19.63
513.2 Not Rated
7.19
249.6 Not Rated
3.34
75.1 Not Rated
0.83
77.6 Not Rated
22.15
452.6 Outperform
145.01
6,211.3 Not Rated
24.94
1,003.1
Perform
6.09
349.4
Perform
11.37
980.7 Not Rated
4.97
166.9
Perform
6.90
211.4 Outperform
3.88
141.3 Not Rated
8.56
194.7 Not Rated
0.97
15.7
Perform
6.94
176.4 Not Rated
9.80
121.2 Not Rated
20.70
517.6 Outperform
8.97
194.9 Not Rated
35.04
2,181.8 Outperform
2.71
44.4 Not Rated
140.66
12,430.2 Outperform
127.99
18,328.5 Not Rated
55.18
50,084.8 Outperform
10.17
309.1 Not Rated
4.39
121.0 Outperform
4.32
68.9 Not Rated
15.76
979.7 Not Rated
47.57
1,534.6 Outperform
10.10
717.9 Not Rated
10.17
246.9 Outperform
39.61
1,319.5 Outperform
7.40
397.5 Not Rated
10.70
479.1
Perform
6.08
94.9
Perform
1.83
139.7 Not Rated
6.89
113.6 Not Rated
OPCO
Return Return
Target YTD, % 3m, %
N/A
56%
120%
N/A
44%
68%
N/A
0%
54%
N/A
34%
49%
N/A
9%
41%
N/A
28%
39%
N/A
9%
36%
11.00
7%
35%
N/A
‐5%
34%
N/A
7%
31%
N/A
24%
30%
N/A
26%
29%
N/A
18%
27%
N/A
1%
26%
35.00
10%
25%
N/A
15%
24%
24.00
‐5%
23%
N/A
‐12%
22%
N/A
13%
20%
N/A
10%
19%
N/A
4%
19%
N/A
1%
19%
N/A
16%
18%
N/A
7%
18%
N/A
9%
17%
N/A
‐2%
17%
95.00
9%
16%
N/A
‐16%
16%
N/A
15%
16%
N/A
8%
15%
N/A
19%
15%
N/A
10%
14%
N/A
15%
14%
75.00
12%
13%
N/A
17%
13%
N/A
‐12%
13%
N/A
‐7%
12%
N/A
2%
11%
N/A
10%
11%
65.00
8%
10%
25.00
‐1%
8%
N/A
‐11%
7%
13.00
‐6%
6%
N/A
‐22%
5%
N/A
4%
5%
N/A
‐7%
4%
N/A
‐37%
4%
N/A
‐19%
1%
25.00
‐5%
1%
N/A
‐6%
0%
N/A
53%
0%
N/A
‐10%
0%
N/A
‐19%
‐1%
N/A
‐15%
‐1%
18.00
‐15%
‐2%
N/A
‐6%
‐2%
N/A
‐13%
‐3%
N/A
‐24%
‐3%
N/A
‐14%
‐4%
N/A
‐32%
‐4%
29.00
‐16%
‐6%
N/A
‐5%
‐6%
49.00
‐14%
‐7%
N/A
‐30%
‐8%
177.00
‐20%
‐9%
N/A
‐12%
‐12%
77.00
‐16%
‐12%
N/A
‐6%
‐12%
16.00
‐30%
‐12%
N/A
‐17%
‐14%
N/A
‐36%
‐14%
70.00
‐25%
‐15%
N/A
‐32%
‐16%
43.00
‐48%
‐18%
60.00
‐12%
‐18%
N/A
‐27%
‐19%
N/A
‐30%
‐21%
N/A
‐36%
‐23%
N/A
‐50%
‐26%
N/A
‐38%
‐34%
. מאמינה כי היינו מהימןOppenheimer Israel הדו"ח מבוסס על מידע אשר. והוא לא נועד לשמש הצעה או שידול לקנות או למכור מניות כלשהן,הדו"ח הוא אינפורמטיבי בלבד
, אין הדו"ח מתיימר להוות ניתוח מלא של כל העובדות הנוגעות לחברה נשוא הדו"ח. לא כל מי שפועל מטעמנו יכול לערוב לשלמותו או לדיוקו של תוכן הדו"ח, לא אנו,עם זאת
. דעות המובאות בדו"ח עשויות להשתנות ללא שום הודעה נוספת. אנו מניחים כי הדו"ח יקרא יחד עם דו”חות זמינים אחרים ונתונים נוספים. ולמניה,לתעשייה בה היא פועלת
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