E-commerce software platform provider BigCommerce (NASDAQ: BIGC) will be reporting earnings tomorrow after the bell. Here's what you need to know.
Last quarter BigCommerce reported revenues of $68.2 million, up 39.1% year on year, beating analyst revenue expectations by 3.08%. It was a mixed quarter for the company, with exceptional revenue growth but underwhelming revenue guidance for the next quarter.
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 17.4% year on year to $69.6 million, slowing down from the 49.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.21 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 has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 7.01%.
Looking at BigCommerce's peers in the sales and marketing software segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Shopify delivered top-line growth of 21.5% year on year, beating analyst estimates by 2.27% and Zendesk reported revenues up 20.1% year on year, missing analyst estimates by 2%. Shopify traded up 7.17% on the results, and Zendesk was flat on the results. Read our full analysis of Shopify's results here and Zendesk's results here.
There has been positive sentiment among investors in the software segment, with the stocks up on average 2.98% over the last month. BigCommerce is up 5.64% during the same time, and is heading into the earnings with analyst price target of $25.1, compared to share price of $14.97.
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The author has no position in any of the stocks mentioned.