Wrapping up Q4 earnings, we look at the numbers and key takeaways for the automation software stocks, including Everbridge (NASDAQ:EVBG) and its peers.
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 6 automation software stocks we track reported a mixed Q4; on average, revenues beat analyst consensus estimates by 5.65%, while on average next quarter revenue guidance was 0.74% under consensus. Tech stocks have been hit the hardest as investors start to value profits over growth, but automation software stocks held their ground better than others, with the share prices up 5.53% since the previous earnings results, on average.
Everbridge (NASDAQ:EVBG)
Founded as a reaction to the catastrophic events of 9/11, Everbridge (NASDAQ:EVBG) supplies software that helps governments and businesses keep people and infrastructure safe in emergencies.
Everbridge reported revenues of $117.1 million, up 13.9% year on year, in line with analyst expectations. It was a slower quarter for the company, with underwhelming guidance for the next quarter.
“The fourth quarter marked a strong finish to the year as we laid the groundwork for future growth and increased profitability,” said David Wagner, Everbridge’s President and CEO.
The stock is up 2.18% since the results and currently trades at $34.67.
Read our full report on Everbridge here, it's free.
Best Q4: Pegasystems (NASDAQ:PEGA)
Founded by Alan Trefler in 1983, Pegasystems (NASDAQ:PEGA) offers a software-as-a-service platform to automate and optimize workflows in customer service and engagement.
Pegasystems reported revenues of $396.5 million, up 25.4% year on year, beating analyst expectations by 18.8%. It was a strong quarter for the company, with a significant improvement in gross margin and an impressive beat of analyst estimates.
Pegasystems pulled off the strongest analyst estimates beat among its peers. The stock is up 14.5% since the results and currently trades at $48.88.
Is now the time to buy Pegasystems? Access our full analysis of the earnings results here, it's free.
Weakest Q4: 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 $130.3 million, up 25.5% year on year, beating analyst expectations by 1.09%. It was a weak quarter for the company, with revenue guidance for the next quarter and the full year missing analysts' expectations.
Jamf pulled off the fastest revenue growth but had the weakest full year guidance update in the group. The stock is down 6.69% since the results and currently trades at $19.8.
Read our full analysis of Jamf's results here.
Appian (NASDAQ:APPN)
Founded by Matt Calkins and his three friends out of an apartment in Northern Virginia, Appian (NASDAQ:APPN) 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 $125.8 million, up 19.8% year on year, beating analyst expectations by 2.45%. It was a slower quarter for the company, with underwhelming guidance for the next quarter and full year.
The stock is down 1.14% since the results and currently trades at $44.35.
Read our full, actionable report on Appian here, it's free.
UiPath (NYSE:PATH)
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 $308.5 million, up 6.51% year on year, beating analyst expectations by 10.7%. It was a solid quarter for the company, with an impressive beat of analyst estimates.
UiPath scored the highest full year guidance raise but had the slowest revenue growth among the peers. The stock is up 20.7% since the results and currently trades at $17.7.
Read our full, actionable report on UiPath here, it's free.
The author has no position in any of the stocks mentioned