Apple device management company, Jamf (NASDAQ:JAMF) will be reporting results tomorrow afternoon. Here's what investors should know.
Jamf beat analysts' revenue expectations by 2% last quarter, reporting revenues of $152.1 million, up 15.1% year on year. It was a slower quarter for the company, with a miss of analysts' billings estimates and a decline in its gross margin.
Is Jamf a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Jamf's revenue to grow 12.3% year on year to $151.7 million, slowing from the 16.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 per share.
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. Jamf has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 1.7% on average.
Looking at Jamf's peers in the automation software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Pegasystems delivered year-on-year revenue growth of 17.7%, beating analysts' expectations by 8.1%, and ServiceNow reported revenues up 22.2%, in line with consensus estimates. Pegasystems traded up 12.7% following the results while ServiceNow was also up 13.2%.
Read our full analysis of Pegasystems's results here and ServiceNow's results here.
Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed inflation signals have led to uncertainty around rate cuts, and while some of the automation software stocks have fared somewhat better, they have not been spared, with share prices down 6% on average over the last month. Jamf is down 5.2% during the same time and is heading into earnings with an average analyst price target of $24.3 (compared to the current share price of $16.31).
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