Online payroll and human resource software provider Paycor (NASDAQ:PYCR) will be reporting earnings tomorrow afternoon. Here's what to look for.
Last quarter Paycor reported revenues of $103 million, up 20% year on year, beating analyst revenue expectations by 3.56%. It was a solid quarter for the company, with a very optimistic guidance for the next quarter and a decent 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 17.8% year on year to $117.6 million, improving on the 4.13% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 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 since going public on average by 2.94%.
Looking at Paycor's peers in the finance and HR software segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Paycom Software delivered top-line growth of 29.8% year on year, beating analyst estimates by 3%. Paycom traded up 9.11% on the results. Read our full analysis of Paycom Software's results here.
The whole tech sector has been facing a sell-off since late last year and software stocks have been swept alongside with it, with share price down on average 16.6% over the last month. Paycor is down 19% during the same time, and is heading into the earnings with analyst price target of $34.3, compared to share price of $24.87.
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The author has no position in any of the stocks mentioned.