Apple device management company, Jamf (NASDAQ:JAMF) will be reporting earnings tomorrow after market hours. Here's what to look for.
Last quarter Jamf reported revenues of $135.1 million, up 16.8% year on year, in line with analyst expectations. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and full-year.
Is Jamf buy or sell heading into the earnings? Read our full analysis here.
This quarter analysts are expecting Jamf's revenue to grow 12.5% year on year to $140.1 million, slowing down from the 30.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 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 2%.
Looking at Jamf's peers in the automation software segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Pegasystems delivered top-line growth of 23.6% year on year, beating analyst estimates by 12.8% and ServiceNow reported revenues up 25% year on year, exceeding estimates by 0.7%. Pegasystems traded up 1.2% on the results, ServiceNow was up 5.9%.
There has been a stampede out of high valuation technology stocks and while some of the automation software stocks have fared somewhat better, they have not been spared, with share price declining 4.4% over the last month. Jamf is down 6.8% during the same time, and is heading into the earnings with analyst price target of $25.6, compared to share price of $16.4.
One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.
Join Paid Stock Investor Research
Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.
The author has no position in any of the stocks mentioned.