Online payroll and human resource software provider Paycor (NASDAQ:PYCR) will be announcing earnings results tomorrow after the bell. Here's what to expect.
Last quarter Paycor reported revenues of $110.9 million, up 26.1% year on year, beating analyst revenue expectations by 7.26%. It was a very strong quarter for the company, with a full year guidance beating analysts' expectations and a solid beat of analyst estimates.
Is Paycor buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Paycor's revenue to grow 22.1% year on year to $113.2 million, improving on the 17.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.03 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 4.06%.
With Paycor being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for software stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 1.66 % over the last month. Paycor is up 0.32% during the same time, and is heading into the earnings with analyst price target of $35.50, compared to share price of $30.47.
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The author has no position in any of the stocks mentioned.