The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s have a look at how the automation software stocks have fared in Q2, starting with Everbridge (NASDAQ:EVBG).
The whole purpose of software is to automate tasks to increase productivity. Today, innovative new software techniques, often involving AI and machine learning, are finally allowing automation that has graduated from simple one- or two-step workflows to more complex processes integral to enterprises. The result is surging demand for modern automation software.
The 5 automation software stocks we track reported a a solid Q2; on average, revenues beat analyst consensus estimates by 4.33%, while on average next quarter revenue guidance was 3.12% above consensus. On average the share price was down 3.3% the day after the earnings.
Founded as a reaction to the catastrophic events of 9/11, Everbridge supplies software that helps governments and businesses keep people and infrastructure safe in emergencies.
Everbridge reported revenues of $86.6 million, up 32.5% year on year, beating analyst expectations by 3.25%. It was a decent quarter for the company, with a strong top line growth but a decline in gross margin.
“We delivered strong second quarter results, building off the momentum we established at the beginning of the year,” said David Meredith, Chief Executive Officer of Everbridge.
Everbridge delivered the weakest performance against analyst estimates of the whole group. The stock is up 3.04% since the results and currently trades at $148.84.
Is now the time to buy Everbridge? Access our full analysis of the earnings results here, it's free.
Best Q2: Jamf (NASDAQ:JAMF)
Founded in 2002 by Zach Halmstad and Chip Pearson, right around the time when Apple began to dominate the personal computing market, Jamf (NASDAQ:JAMF) provides software for companies to manage Apple devices such as Macs, iPads, and iPhones.
Jamf reported revenues of $86.2 million, up 38.5% year on year, beating analyst expectations by 3.83%. It was a very strong quarter for the company, with a very optimistic guidance for the next quarter and a full year guidance beating analysts' expectations.
The stock is up 32.1% since the results and currently trades at $41.51.
Is now the time to buy Jamf? Access our full analysis of the earnings results here, it's free.
Slowest Q2: Appian (NASDAQ:APPN)
Founded by Matt Calkins and his three friends out of an apartment in Northern Virginia, Appian sells a software platform that lets its users build applications without using much code, allowing them to create new software more quickly.
Appian reported revenues of $82.9 million, up 24.2% year on year, beating analyst expectations by 6.24%. It was a decent quarter for the company, with a solid beat of analyst estimates.
Appian achieved the strongest analyst estimates beat but had the slowest revenue growth in the group. The stock is down 17.8% since the results and currently trades at $92.27.
Founded by Fred Luddy who wrote the code for the initial prototype on a single flight from San Francisco to London, ServiceNow offers software as a service platform that helps companies become more efficient by allowing them to automate workflows across IT, HR and Customer Service.
ServiceNow reported revenues of $1.4 billion, up 31.5% year on year, beating analyst expectations by 3.5%. It was a decent quarter for the company, with a strong top line growth but a decline in gross margin.
ServiceNow achieved the highest full year guidance raise among the peers. The company added 55 enterprise customers paying more than $1m annually to a total of 1,201. The stock is up 12.5% since the results and currently trades at $656.64.
Started in 2005 in Romania as a tech outsourcing company, UiPath (NYSE:PATH) makes software that helps companies automate repetitive computer tasks.
UiPath reported revenues of $195.5 million, up 40.2% year on year, beating analyst expectations by 4.84%. It was a very strong quarter for the company, with a significant improvement in gross margin.
UiPath scored the fastest revenue growth but had the weakest full year guidance update among the peers. The stock is down 17.5% since the results and currently trades at $51.50.
The author has no position in any of the stocks mentioned