Earnings results often indicate what direction a company will take in the months ahead. With Q1 behind us, let’s have a look at Pegasystems (NASDAQ:PEGA) and its peers.
The whole purpose of software is to automate tasks to increase productivity. Today, innovative new software techniques, often involving AI and machine learning, are finally allowing automation that has graduated from simple one- or two-step workflows to more complex processes integral to enterprises. The result is surging demand for modern automation software.
The 7 automation software stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 5.9% while next quarter’s revenue guidance was in line.
Luckily, automation software stocks have performed well with share prices up 10.8% on average since the latest earnings results.
Founded by Alan Trefler in 1983, Pegasystems (NASDAQ:PEGA) offers a software-as-a-service platform to automate and optimize workflows in customer service and engagement.
Pegasystems reported revenues of $475.6 million, up 44.1% year on year. This print exceeded analysts’ expectations by 33.1%. Overall, it was an incredible quarter for the company with an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates.
Pegasystems pulled off the biggest analyst estimates beat of the whole group. The stock is up 41% since reporting and currently trades at $97.
Is now the time to buy Pegasystems? Access our full analysis of the earnings results here, it’s free.
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 $356.6 million, up 6.4% year on year, outperforming analysts’ expectations by 7.4%. The business had a very strong quarter with an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates.
The market seems unhappy with the results as the stock is down 3.6% since reporting. It currently trades at $12.49.
Is now the time to buy UiPath? Access our full analysis of the earnings results here, it’s free.
Founded in 2005, SoundHound AI (NASDAQ:SOUN) develops independent voice artificial intelligence solutions that enable businesses across various industries to offer customized conversational experiences to consumers.
SoundHound AI reported revenues of $29.13 million, up 151% year on year, falling short of analysts’ expectations by 4.4%. It was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates.
