The author explains that the combination of N-803 and BCG is a novel approach to treating bladder cancer, and the Quilt 3032 study showed promising results with a 71% complete response rate and an average duration of 26.6 months. The article also mentions ImmunityBio's financials, including its cash reserves and recent registered direct offering. The author concludes that ImmunityBio is a good speculative biotech play to look into due to the upcoming PDUFA date and other programs in its pipeline.

EngageSmart is a company that connects Managed Care Organizations and Employee Assistance Plans with clinicians in the behavioral health sector. The COVID-19 pandemic has accelerated the adoption of digital payments, making the long-term prospects for EngageSmart promising. The company had a strong Q1, adding more new customers than in the previous quarter and expanding into larger healthcare groups. EngageSmart is actively pursuing the group practice opportunity within the behavioral health sector, which is considered attractive and likely to gain traction more easily. The author derives a target price of $30 using a 9x multiple to their FY24 revenue estimate. SimplePractice is a practice management platform that focuses on specific healthcare segments such as mental health practitioners or physical therapists. The author has a price target of $30 for EngageSmart, which is determined using an EV/revenue valuation approach, and believes that EngageSmart's strong operating model suggests a valuation nearing a 10x multiple valuation. ESMT is capitalizing on the demand for digital interaction capabilities in customer actions such as scheduling, invoicing, and payments. The author views the stock as a buy and has an end-of-year price target of $30 on the stock. Risks include the potential impact of a challenging macro environment, the cyclical nature of payment processing, and competition from established companies and emerging start-ups.

Sportradar Group AG is a profitable company that offers data solutions for live and in-game betting and fraud prevention to bookmakers, sports leagues, teams, and media companies in the entertainment and gambling industry. Despite being net profitable and growing revenue faster than its competitors, the share price has more than halved since the IPO in late 2021. However, the sports betting market is growing, with a forecasted market size of $39 billion by 2033 in the US alone and a global sports betting revenue of over $182 billion annually by 2030. Sportradar is well-positioned to become the \"Bloomberg of sports data\" due to its fast growth, profitability, and exclusive agreements with UEFA and the NBA. The author believes that Sportradar can be valued in similar terms as Software-as-a-Service companies, which trade at EV/revenue multiples between 6 and 7. The author considers Sportradar to be the best positioned publicly traded company in a very interesting growth market, and sees potential upside of at least 85 to 100 percent. The author views the stock as a buy with a price target in the range of $22.7 to $24.5 per share

The tech stock market has been volatile during earnings season, and Okta's shares plummeted despite a "beat and raise" earnings report. However, the author remains bullish on Okta due to its ability to grow at an incredible pace, a huge TAM, recurring revenue, and high net retention rates. Okta's Q1 revenue grew 25% YoY to $518 million, beating expectations, and the company's total customer base grew to 18,050. Despite macro headwinds, Okta's margin performance remained strong, with a pro forma gross margin of 81.5% in Q1 and pro forma operating margins soaring to 7.1%. The author recommends buying the dip in Okta's stock, with a year-end price target of $97, representing 24% upside from current levels.

Sea Limited faces competition in under-penetrated e-commerce markets in Southeast Asia and Latin America, but the company is investing in infrastructure to build a sustainable, profitable business. Shopee's revenue grew 36% YoY, but competition from TikTok is getting tougher. Established e-commerce players are focusing on improving logistics capabilities to enhance customer experience and improve cost efficiencies. Sea's digital financial services revenue increased 75% YoY, driven by credit business, but the company is focusing on improving its loan book quality and diversifying its funding source. The stock has declined 24% from $79 per share to $64 per share since the article was published, but the fair value estimate is $88 per share, implying a 38% upside potential. The acceptable buying price for Sea Limited's stock is between $62 and $66 per share.

Equinor ASA, a Norwegian energy company, has shown resilience and adaptability in providing natural gas deliveries to its European partners amidst geopolitical tensions and the conflict between Russia and Ukraine. Despite a decrease in its stock price of approximately 25% over the past year, Equinor's current market valuation offers a unique opportunity for investors to buy into the company at a lower price point. Equinor's inherent strengths and potential upside are not reflected in its current stock price, especially given the unique geopolitical advantage it currently enjoys. Key factors in Equinor's favor include its geopolitical advantage as a prime supplier of natural gas to Europe, its strong dividend yield, its growth potential due to the escalating demand for natural gas and the ongoing global shift towards cleaner energy sources, and its resilient performance despite the challenging macroeconomic environment and downward stock trend. However, Equinor faces competition from other oil and gas giants, and its performance is tied to volatile energy prices. The energy transition also necessitates significant capital expenditure, which could strain Equinor's financial health if not managed judiciously. Despite the risk factors and recent downward pressure on its stock, Equinor's unique position as a secure provider of natural gas to Europe, its commitment to renewable energy, and its resilient dividend history make it a compelling choice for investors with a longer-term perspective.

The article discusses IRadimed Corporation (IRMD), a growth company that has seen significant gains in turnover and earnings growth since 2017. Q1 FY'23 numbers showed 26% YoY growth in quarterly revenues, and management aims for 19% and 23% YoY growth in FY'23. The company's 510(K) application on its 3870 MR IV pump was priced in with tremendous effect, and the firm's 25% top-line growth rate, 600% return on incremental capital, and 13% growth in intrinsic valuation were recognized by observers of the market. The article argues that economic earnings are more important than accounting profits in analyzing a company's earnings power and asset factors. IRMD has produced $19.8mm in economic earnings and $4.65mm in economic growth since Q4 FY'21, indicating that the company's new pump placements are more profitable than existing ones. The author values the company at $1.2Bn, suggesting a potential mispricing and supporting a buy rating. The author revises the price target to $95 per share, indicating ~100% upside potential at the time of writing.

The author is bullish on Maxeon Solar Technologies (MAXN) as a key player in the solar energy market, with valuable intellectual property related to its proprietary IBC cell technology and proprietary shingling technology. MAXN has a solid distribution network for its products, including a two-year supply agreement with SPWR in the United States and a joint venture with TZS in China. Maxeon offers two distinct solar module designs: the innovative IBC module design with exceptional efficiency of up to 26%, and the lower-cost P Series shingled product. Maxeon's recent financial performance shows potential for growth, with Q1 revenue of $318 million marking a 43% YoY increase and adjusted EBITDA of $31 million entering positive territory for the first time in Maxeon's history. The author believes that Maxeon deserves a valuation range of 10-14x adjusted EBITDA, with a target price of $34 and an estimated NPV of a planned 3.3GW expansion project in the U.S. contributing ~$8/share to the valuation. Key risks for Maxeon include international trade tariffs, subsidy dependency, exchange/currency fluctuations, supply chain disruptions, and customer concentration. The author considers Maxeon a Buy and sets a price target of $41.

Wayfair's stock increased by 10% after being added to JPMorgan's focus list. The company has a substantial customer base of 22 million people, representing approximately 6% of the combined population of the United States and Canada. The DCF method is used to value Wayfair, with a base case valuation of $8.4 billion equity value ($76.3 per share) and a bull case valuation of $10.4 billion equity value ($95.2 per share). However, the stock could be overvalued if the company fails to improve its free cash flow margin, if the WACC exceeds 15%, or if its long-term market share remains below 4%. Wayfair achieved a 10% free cash flow margin in 2020 during the COVID era. In 2022, there was a decrease in the number of customers and orders, leading to a decrease in overall sales and profitability. The company has been working on improving its margins through reducing damage rates, enhancing packaging, and optimizing last-mile costs. The company narrowed its loss in Q1 2023 compared to Q1 2022, indicating potential for margin expansion. Wayfair's core customers have demonstrated strength, with net revenue per active customer reaching a new high of $552 over the past two years and repeat customers accounting for 79% of purchases. The company is in the early stages of monetizing its platform by offering advertising opportunities to suppliers, which serves as an ancillary high-margin revenue stream. The author rates the stock as a "Buy" due to the potential for growth and improvement in margin profile.