Callouts & quotes from 709+ activist slides

"We Estimate Stryker Acquired OrthoSensor At Less Than The Total Capital Invested Into The Business"

"On current consensus EPS estimates for 2015, AerCap's stock trades at an attractive 8.5x earnings."

"Publicly-traded REITs have historically traded in-line with Green Street's estimates of their NAV"

"Spruce Point Estimates 40% - 50% Downside Risk To C3.ai (NYSE: AI) Share Price: ($12.85 - $15.40)"

"Spruce Point's adjusted EPS estimates are 36% lower than Globant's adjusted reported EPS results."

"Insiders Are Primed To Sell: We Estimate 55% - 80% Downside Risk Potential To Bunge's Share Price"

"Factoring in the excess cash, we estimate a price target of $27.50 – $40.00 (40% - 60% downside)"

"We estimate Tulco and FIGS' founders have sold nearly $1.5 billion in stock since October 2020."

"What is accounting for the other $160m of estimated costs to hit the $350m total cost forecast?"

"We estimate the net value of GGP’s MPC segment to be anywhere between $0.27 and $6.72 per share"

"We estimate that during FY2016 through FY2018, TAL has overstated net income by at least 43.6%."

"We Believe Investors Underestimate Homes.com As A Viable, Well Capitalized Competitor To Zillow"

"We estimate the opportunity to improve EBITDA through G&A efficiencies is $39 million or more."

"We estimate the opportunity to improve EBITDA through G&A efficiencies is $39 million or more."

"We estimate Olive Garden can save $24 – $36 million in labor associated with food preparation"

"We estimate Olive Garden can save $24 – $36 million in labor associated with food preparation"

"Using its aggressive revenue estimates, XL provides a misleading comparison to EV companies."

"Spruce Point estimates that Magnite's true organic revenue growth in 2020E is a meager 1.7%."

"Bayer estimates that the potential revenue value of these pipeline drugs is 5 billion Euros."

"MGM's fair value is by our estimate in excess of $35 per share, or 35% above current levels."

"This begs the question of who actually formulated the estimates in the WinterGreen reports."

"Sandell Estimates Intrinsic Value of up to $49/Share by Employing the PropCo/OpCo Structure"

"We estimate the GSEs' FIA business will earn $51bn over the next 10 years as it winds down"

"We derived our own estimates of the 2022 landbank's value by using the comparable method."

"Wall Street consensus estimates for Celgene's products have generally been too optimistic"

"Absent this one-off contribution, we estimate CTV revenue would have declined by 16% YoY."

"We estimate that in aggregate, Huishan inflated farm CapEx by as much as RMB 1.6 billion."

"We Estimate Sunrun Overstates Its Income Approach FMV by 29% and Subscriber Value by 32%"

"Current Consensus Revenue Estimates Assume "More Than" Perfection: 30%-50% Downside Risk"

"We Believe Investors Underestimate Samsara’s Competition And Challenging Market Dynamics"

"we estimate that the Bubny Landbank's value is overstated by ~€138 million, or ~100%."

"It is difficult to justify current super-premium multiple (36x FY2012 EPS estimates)"

"The gap between W's stock price and consensus 2018 adj. EPS estimate is confounding."

"We estimate that about 80% of the comments on Wandoujia regarding NQ are negative."

"In fact, we estimate that cash flow has collapsed by -37% since the 2018 spin-off."

"At <14x pro forma 2015 earnings, we believe the market underestimates this change"

"To estimate 2015 revenues per program, we used the following data and estimates:"

"We believe investors underestimate the strength of competition faced by Samsara."

"We estimate that SafeCharge grew over 50% in 2020 with high exposure to gaming."

"We estimate that most, perhaps as many as 90%, of the PUs were also performers."

"Spruce Point Estimates 65% - 80% Downside Potential Risk To Zebra's Share Price"

"We estimate ELF's COGS based on its having a 70% share of its suppliers' sales."

"Our estimate of fair value is $0. We believe Lumen is fundamentally insolvent."

"Accordingly, we estimate that RUN’s Cost Approach FMV is overstated by 25.7%."

"Based on consensus estimates, Box is expected to miss the goal it set in 2019"

"We estimate continuing EPS approx. -47% below the street “adjusted” estimates"

"We estimate continuing EPS approx. -36% below the street “adjusted” estimates"

"We estimate continuing EPS approx. -47% below the street “adjusted” estimates"

"Our estimate ties out to Lefkofsky's remarks that TCV is >$1B as of April '25"

"We estimate that TAL has fraudulently overstated its FY2016 – FY2018 results."

"We estimate the value of the assets transferred was at least RMB 150 million."

"Why We Conservatively Estimate 25% – 40% Downside Risk To PERI’s Share Price"

"As a result, we estimate Avery has experienced underlying EBIT contraction."

"As a result, we estimate Avery has experienced underlying EBIT contraction."

"We estimate Phillips could retire ~60% to ~90% of its shares outstanding(4)"

"Consensus estimates imply extremely unlikely Q4 core growth ex-new products"

"Consensus estimates imply extremely unlikely Q4 core growth ex-new products"

"We estimate Phillips could retire ~60% to ~90% of its shares outstanding(4)"

"Your miscalculation underestimated the likelihood of someone being injured."

"We estimate that ONP has overstated its asset values by at least ten times."