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TechCheck

Chegg CEO Dan Rosensweig on Earnings, Spotting Opportunity in Software Names & ZoomInfo Founder and CEO Henry Schuck on Q1 Results 5/3/22

TechCheck

CNBC

Disruptors, Tech, Technology, Cnbc, Management, Business, Faang, Investing

4.566 Ratings

🗓️ 3 May 2022

⏱️ 46 minutes

🧾️ Download transcript

Summary

Our anchors start today’s show looking for high-value, low-price tech names with Bernstein Senior Research Analyst Toni Sacconaghi, and education platform Chegg CEO Dan Rosensweig joins after posting guidance that sent shares sliding. Next, CNBC’s Mike Santoli breaks down areas of strength preventing the sector’s ongoing sell-off from worsening, and GGV Capital Managing Partner Jeff Richards weighs in on opportunities in software stocks. Later, our Julia Boorstin covers media giant Paramount’s latest earnings, and ZoomInfo Founder and CEO Henry Schuck offers a deeper dive into the software company’s Q1 numbers.

Transcript

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0:00.0

I'm John Fort. You're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

0:07.0

Good Tuesday morning. Welcome to Tech Check. I'm Carl Kinteneer with Deerbosa and John Fort.

0:11.0

Today, our tech stocks cheap and still not worth buying. Ahead of the Fed, the investor debate over

0:17.0

valuations at these prices. One example might be Chegg and the difficulty of catching

0:21.9

a falling knife was down 70 percent, a pandemic darling, now down another 40 cratering after

0:28.4

poor guidance. The CEO is going to join us this hour. And then new this morning some

0:32.1

bearish comments from a few investing titans, Ray Dalio warns that even though tech valuations

0:36.8

have come in, still not a good time to get long equities, while Paul Tudor Jones said this this morning on Squawk.

0:44.3

You can't think of a worse macro environment than where we are right now.

0:55.2

Clearly still some market anxiety at these levels.

0:58.7

And John, we continue to turn to analogs that we have in the recent past, like the dot-com

1:03.7

bust where the NASDAG had a similar fall to this one, but then continued to tumble in the

1:08.6

next couple of years.

1:09.8

Yeah, you know, right here, I was asking Lo Tony yesterday,

1:13.0

whether this was a historic opportunity not to buy anything.

1:16.4

And so many of the CEOs that I'm talking to,

1:20.4

both on the sort of large, large cap side and smaller startup companies,

1:25.4

they've got a siege mentality,

1:26.8

but some feel like they're inside

1:28.2

the walls being laid siege too. Some feel like they're outside the walls. And it's a question

1:32.5

of resources and business health. Do they have enough resources to tough out a perhaps extended

1:38.9

difficult time when it might be difficult to raise funding, sure, from the public markets,

...

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