E-commerce software platform provider BigCommerce (NASDAQ: BIGC) will be reporting earnings tomorrow after market close. Here's what to look for.
Last quarter BigCommerce reported revenues of $72.4 million, up 11.6% year on year, missing analyst expectations by 1.24%. It was a weak quarter for the company, with revenue guidance for the next quarter and the full year missing analysts' expectations.
Is BigCommerce buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting BigCommerce's revenue to grow 8.2% year on year to $71.5 million, slowing down from the 41.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.13 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 4.71%.
Looking at BigCommerce's peers in the sales and marketing software segment, some of them have already reported Q1 earnings results, giving us a hint what we can expect. VeriSign delivered top-line growth of 5.04% year on year, missing analyst estimates by 0.8% and Braze reported revenues up 40.1% year on year, exceeding estimates by 3.05%. Both companies (Verisign and Braze) traded flat on the results. Read our full analysis of VeriSign's results here and Braze's results here.
Tech stocks have been under pressure since the end of last year and while some of the software stocks have fared somewhat better, they have not been spared, with share price declining 9.49% over the last month. BigCommerce is down 19.3% during the same time, and is heading into the earnings with analyst price target of $12, compared to share price of $7.17.
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The author has no position in any of the stocks mentioned.