March 2023 was a volatile month for the capital markets, with the failure of three U.S. banks sparking recession fears among investors. Such fears eased toward the end of the month after the Federal Reserve hinted that it might at least pause its interest-rate-hiking campaign, if not cut rates by the end of the year.
This helped the stock market end the first quarter on a positive note. The S&P 500 gained about 7%, while the tech-heavy Nasdaq Composite soared almost 17% in the first quarter. Let’s take a look at the five best- and worst-performing large-cap stocks in Q1 2023.
Q1 2023 hedge fund letters, conferences and more
The Five Best-Performing Large-Cap Stocks In Q1 2023
We used the first-quarter return data on large-cap stocks from finviz.com to rank the five best- and worst-performing large-cap stocks in Q1 2023. These were the five best-performing large-cap stocks in Q1 2023:
5. Warner Bros. Discovery (60%)
Founded in 2022 from the spin-off of WarnerMedia from AT&T and its merger with Discovery, this company is a media and entertainment company headquartered in New York City. Warner Bros. Discovery creates and distributes content and brands across television, film and streaming platforms.
Warner Bros. Discovery Inc (NASDAQ:WBD) shares are down by over 1% in the last month, contributing to their plunge of almost 37% over the last year. At the time of this writing, Warner Bros. Discovery shares are trading at around $14.50 with a 52-week range of $8.82 to $27.50, giving the company a market capitalization of more than $35.9 billion. The stock has bid and ask prices of $14.56 and $14.57, respectively.
Warner Bros. Discovery reported more than $33.8 billion in revenue for 2022, compared to over $12.1 billion in 2021. The company posted net losses of over $7.3 billion in 2022, a reversal from the net income of over $1 billion recorded in 2021.
4. Samsara (62%)
Founded in 2015 and headquartered in San Francisco, California, this company develops internet-connected sensor systems.
Samsara Inc (NYSE:IOT) shares are down by almost 8% in the last month, although even after that decline, they remain up almost 31% over the last year. At the time of this writing, Samsara shares are trading at around $18.70 with a 52-week range of $8.42 to $21.49, giving the company a market capitalization of more than $9.8 billion. The stock has bid and ask prices of $18.73 and $18.75, respectively.
Samsara reported more than $652 million in revenue for 2022, compared to over $428 million in 2021. The company posted net losses of over $247 million in 2022 and net losses of over $355 million in 2021.
3. Roblox (66%)
Founded in 2004 and headquartered in San Mateo, California, this company offers online gaming services through its platforms, including Roblox Client, Roblox Studio, and Roblox Cloud.
Roblox Corp (NYSE:RBLX) shares are up by over 14% in the last month, bringing the stock into the green for the last 12 months, up by more than 2%. At the time of this writing, Roblox shares are trading at around $45.60 with a 52-week range of $21.65 to $53.88, giving the company a market capitalization of more than $27.4 billion. The stock has bid and ask prices of $45.86 and $45.88, respectively.
Roblox reported more than $2.2 billion in revenue for 2022, compared to over $1.9 billion in 2021. The company posted net losses of over $924 million in 2022 and net losses of over $491 million in 2021.
2. Qualtrics International (72%)
Founded in 2002 and headquartered in Provo, Utah, Qualtrics is an experience-management platform that manages the experiences of customers, employees, products and brands.
Qualtrics International Inc (NASDAQ:XM) shares are up by over 4% in the last month, but even after that gain, they remain off by more than 32% for the last year. At the time of this writing, Qualtrics International shares are trading at around $17.80 with a 52-week range of $9.32 to $27.97, giving the company a market capitalization of more than $10.8 billion. The stock has bid and ask prices of $17.85 and $17.86, respectively.
Qualtrics International reported more than $1.4 billion in revenue for 2022, compared to over $1 billion in 2021. The company posted net losses of over $1 billion each in 2022 and 2021.
1. Coinbase Global (94%)
Founded in 2012 and headquartered in San Francisco, California., this company offers crypto-powered technologies, including decentralized apps and services, open community engagement platforms and self-custody wallets.
Coinbase Global Inc (NASDAQ:COIN) shares are up by more than 1% in the last month, but after that gain, they remain down almost 65% for the last year. At the time of this writing, Coinbase Global shares are trading at around $58.80 with a 52-week range of $31.55 to $169.42, giving the company a market capitalization of more than $14 billion. The stock has bid and ask prices of $60.45 and $60.43, respectively.
Coinbase Global reported more than $3.1 billion in revenue for 2022, compared to over $7.8 billion in 2021. The company posted a net loss of over $2.6 billion in 2022, compared to net income of more than $3 billion in 2021.
The Five Worst-Performing Large-Cap Stocks In Q1 2023
These were the five worst-performing large-cap stocks in Q1 2023:
5. Texas Pacific Land (-27%)
Founded in 1871 and headquartered in Dallas, Texas, this company deals in the sale and lease of land owned, retaining oil and gas royalties, and the overall management of the land owned.
Texas Pacific Land Corp (NYSE:TPL) shares are up by almost 1% in the last month, contributing to their gain of almost 23% over the last year. At the time of this writing, Texas Pacific Land shares are trading at around $1,754.90 with a 52-week range of $1,250.01 to $2,739.00, giving the company a market capitalization of more than $13.5 billion. The stock has bid and ask prices of $1,748.01 and $1,750.98, respectively.
Texas Pacific Land reported more than $667.4 million in revenue for 2022, compared to over $450.9 million in 2021. The company posted net income of over $446.3 million in 2022 and net income of more than $269.9 million in 2021.
4. KeyCorp (-28%)
Founded in 1958 and headquartered in Cleveland, Ohio, this company offers a range of retail and commercial banking services.
KeyCorp (NYSE:KEY) shares are down by almost 26% in the last month, contributing to their plunge of almost 43% over the last year. At the time of this writing, KeyCorp shares are trading at around $11.90 with a 52-week range of $9.61 to $22.17, giving the company a market capitalization of more than $10.7 billion. The stock has bid and ask price of $11.91 and $11.92, respectively.
KeyCorp reported more than $5.4 billion in revenue for 2022, compared to over $4.3 billion in 2021. The company posted net income of over $1.9 billion in 2022 and net income of more than $2.6 billion in 2021.
3. Liberty Media Corp Series C (-29%)
Founded in 2012 and headquartered in Englewood, Colorado, this company offers subscription-based satellite radio services.
Liberty Media Corp (NASDAQ:LSXMK) Series C shares are down by over 2% in the last month, contributing to their decline of almost 37% over the last year. At the time of this writing, Liberty Media Corp Series C shares are trading at around $28 with a 52-week range of $25.02 to $45.93, giving the company a market capitalization of more than $27.8 billion. The stock has bid and ask prices of $28.09 and $28.11, respectively.
Liberty Media Corp reported more than $12.16 million in revenue for 2022, compared to over $11.4 million in 2021. The company posted net income of over $1.8 million in 2022 and net income of more than $398,000 in 2021.
2. Sirius XM Holdings (-32%)
Founded in 1990 and headquartered in New York City, this company offers audio entertainment services through its Sirius XM, Pandora and Off-Platform segments.
Sirius XM Holdings Inc (NASDAQ:SIRI) shares are up by over 4% in the last month, but after that gain, they remain off by almost 40% over the last year. At the time of this writing, Sirius XM Holdings shares are trading at around $3.90 with a 52-week range of $3.43 to $6.85, giving the company a market capitalization of more than $15.4 billion. The stock has bid and ask prices of $3.95 and $3.96, respectively.
Sirius XM Holdings reported more than $8.9 billion in revenue for 2022, compared to over $8.6 billion in 2021. The company posted net income of over $1.2 billion in 2022 and net income of more than $1.3 billion in 2021.
1. Charles Schwab (-37%)
Founded in 1986 and headquartered in Westlake, Texas, Charles Schwab is a savings and loan holding company that offers securities brokerage, asset management, wealth management, banking, custody and financial advisory services.
Charles Schwab Corporation (NYSE:SCHW) shares are down by almost 26% in the last month, contributing to their plunge of over 38% over the last year. At the time of this writing, Charles Schwab shares are trading at around $49.10 with a 52-week range of $45 to $86.63, giving the company a market capitalization of more than $90 billion. The stock has bid and ask prices of $49.17 and $49.19, respectively.
Charles Schwab reported more than $22.3 billion in revenue for 2022, compared to over $18.9 billion in 2021. The company posted net income of over $7.1 billion in 2022 and net income of more than $5.8 billion in 2021.
