3031

Q2 Automation Software Earnings Review: First Prize Goes to Jamf (NASDAQ:JAMF)


Jabin Bastian /
2021/10/11 7:52 am EDT
Add to Watchlist

As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q2. Today we are looking at the automation software stocks, starting with Jamf (NASDAQ:JAMF).

Automation seems to be an inescapable trend since the dawn of software, driven by the ever-present pressure on increased productivity. Improving software capabilities are now finally allowing automation beyond the simple one- or two-steps workflows, and as a result automation software is becoming integral to many processes inside enterprises.

The 5 automation software stocks we track reported a a strong Q2; on average, revenues beat analyst consensus estimates by 4.33%, while on average next quarter revenue guidance was 3.12% above consensus. But market's expectations were likely even higher and on average the share price was down 3.3% the day after the earnings.

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.

“Our strong preliminary results demonstrate balanced growth across our products, geographies and top industries, with particular strength in our Commercial business due to the improving operating environment,” said Dean Hager, CEO of Jamf.

Jamf Total Revenue

The stock is up 27.5% since the results and currently trades at $40.07.

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 $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 and an exceptional revenue growth.

UiPath Total Revenue

UiPath had the fastest revenue growth among its peers. The stock is down 17.8% since the results and currently trades at $51.29.

Is now the time to buy UiPath? Access our full analysis of the earnings results here, it's free.

Weakest Q2: Appian (NASDAQ:APPN)

Founded in 1999, 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 but a decline in gross margin.

The stock is down 19.8% since the results and currently trades at $90.01.

Read our full analysis of Appian's results here.

Everbridge (NASDAQ:EVBG)

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 wasn't a bad quarter for the company, with a strong top line growth but a decline in gross margin.

The stock is down 0.83% since the results and currently trades at $143.24.

Read our full, actionable report on Everbridge here, it's free.

ServiceNow (NYSE:NOW)

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 and the growth in large customers staying steady.

The company added 55 enterprise customers paying more than $1m annually to a total of 1,201. The stock is up 5.3% since the results and currently trades at $614.36.

Read our full, actionable report on ServiceNow here, it's free.

The author has no position in any of the stocks mentioned