Cloud infrastructure automation platform HashiCorp will be reporting results tomorrow after market close. Here's what to look for.
HashiCorp beat analysts' revenue expectations by 4.3% last quarter, reporting revenues of $155.8 million, up 14.7% year on year. It was a mixed quarter for the company, with an impressive beat of analysts' billings estimates but management forecasting growth to slow. It added 20 enterprise customers paying more than $100,000 annually to reach a total of 897.
Is HashiCorp a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting HashiCorp's revenue to grow 11% year on year to $153.2 million, slowing from the 36.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
![HashiCorp Total Revenue](https://news-assets.stockstory.org/chart-images/HashiCorp-Total-Revenue_2024-05-29-070238_rkuc.png)
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. HashiCorp has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 6.7% on average.
Looking at HashiCorp's peers in the software development segment, some have already reported their Q1 results, giving us a hint as to what we can expect. JFrog delivered year-on-year revenue growth of 25.7%, beating analysts' expectations by 1.7%, and Datadog reported revenues up 26.9%, topping estimates by 3.3%. JFrog traded down 18.9% following the results while Datadog was also down 7.7%.
Read our full analysis of JFrog's results here and Datadog's results here.
Investors in the software development segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. HashiCorp is up 2.9% during the same time and is heading into earnings with an average analyst price target of $35.3 (compared to the current share price of $33.4).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.