AI construction in progress

研报英文原文证据摘录

AI construction in progress

Macquarie Equity Research Zscaler

Alpha Model Decomposition Key Quant Findings

The quant model currently holds a marginally positive The Macquarie Alpha is decomposed into its sector and

view on Zscaler. The strongest style exposure is Growth, market relative factor & styles exposures (a higher/better

indicating this stock has good historic and/or forecast percentile is coded in green, whilst lower in red).

growth. Growth metrics focus on both top and bottom

line items. The weakest style exposure is Price Momentum, relativePercentileto

indicating this stock has had weak medium to long term

sectors market

returns which often persist into the future. Factors / Styles (/790) (/3086) Core factors in definition

ALPHA 71% 55% Built from the styles below

Macquarie Alpha Model: Key rankings VALUE 54% 27% Book, CF, Yield, Earnings Multiples

ANALYST 94% 92% Revisions (Earnings, Recommendations)

The Macquarie Quant’s flagship Alpha model is a dynamic MOMENTUM 34% 36% Price Momentum

multi-factor model based on a staple of quant factors such

as value, momentum, revisions, quality, and risk. GROWTH 95% 99% EPS, Sales (Forecast, Historic)

PROFITABILITY 40% 61% ROE, Margin, Asset Turnover

Global Market (Country) Sector

Software QUALITY 51% 68% Accruals, Earn Stability, Cash Conversion Whole Universe United States & Services

CAPITAL 31% 26% Investment/Capex, Net share issuance

Macquarie Alpha

6589/17941 1381/3086 231/790 LIQUIDITY 43% 95% Size, Turnover, Analyst Coverage Model

Fundamental LOW RISK 62% 75% Beta, Volatility, Earn.Cert, Leverage 3986/17941 640/3086 192/790 (Consensus) *

TECHNICAL 4% 3% MACD, RSI, Bollinger, Williams R, etc

* based on Total Shareholder Return = Consensus Price target / Current Price

Factors driving the Alpha Model vs peers