Tomorrow’s Earnings Unveiled
Tomorrow’s Earnings Unveiled
GitLab (NASDAQ: GTLB)
Software development tools maker GitLab is set to release its earnings report tomorrow afternoon, and here’s a preview of what to expect:
Last Quarter Highlights
- In the last quarter, GitLab reported revenues of $126.9 million, a remarkable 45.2% year-on-year increase, surpassing analyst revenue expectations by 7.68%.
- The company delivered solid results, beating revenue estimates and providing robust sales guidance for the upcoming quarter.
Current Expectations:
- For this quarter, analysts are projecting a 28.5% year-on-year revenue growth, reaching $129.8 million. This growth rate is expected to slow compared to the 73.8% YoY increase reported in the same quarter last year.
- The adjusted loss is expected to come in at -$0.03 per share.
Analyst Consensus:
- The majority of analysts covering GitLab have reaffirmed their estimates in the past month, indicating confidence in the company’s performance.
- GitLab has a track record of exceeding Wall Street’s expectations, consistently beating revenue estimates by an average of 8.49% over the past two years.
Peers in the Segment:
- GitLab’s peers in the software development sector have already reported Q2 earnings results, offering insights into the industry.
- Companies like HashiCorp and JFrog reported solid growth, beating analyst estimates, with their stock reactions varying.
Zscaler (NASDAQ: ZS)
Cloud security platform Zscaler is set to release its earnings report tomorrow after market hours. Here’s what you should know:
Last Quarter Highlights
- In the previous quarter, Zscaler reported revenues of $418.8 million, marking an impressive 46% year-on-year growth, surpassing analyst revenue expectations by 1.71%.
- The company had a robust quarter, with both revenue and earnings per share (EPS) exceeding expectations. Furthermore, the revenue guidance for the next quarter surpassed consensus estimates.
Investor Sentiment
- Investors in the cybersecurity sector have maintained steady positions leading up to earnings, with stocks down an average of 0.59% over the past month.
- Zscaler, in contrast, has shown a 9.07% increase during the same period.
- Analysts have set an average price target of $168.3 for Zscaler, compared to the current share price of $158.5.
Looking Ahead
- In a changing economy, it’s crucial to monitor generational shifts. Nearly every company is transitioning into a technology-focused entity and grappling with cybersecurity risks.
- The demand for cloud-native cybersecurity is surging, and Zscaler, with its remarkable 70% YoY revenue growth and leading SaaS metrics, is certainly one to watch.
Asana (NYSE: ASAN)
Work management software creator Asana is set to unveil its earnings results tomorrow after the market closes. Here’s a brief overview of what to expect:
Last Quarter Highlights
- In the previous quarter, Asana reported revenues of $152.4 million, marking a 26.3% year-on-year increase, narrowly surpassing analyst revenue expectations by 1.22%.
- The quarter was a mixed bag, with revenue slightly exceeding expectations, a reduction in cash burn, but a concerning deterioration in revenue retention rate.
- Asana welcomed 432 enterprise customers paying more than $5,000 annually, bringing the total to 19,864.
Current Expectations:
- Analysts anticipate a 17% year-on-year revenue growth for Asana in this quarter, reaching $157.8 million. This growth rate is expected to slow compared to the 50.8% YoY increase recorded in the same quarter last year.
- An adjusted loss of -$0.12 per share is projected.
Analyst Consensus:
- Most analysts covering Asana have reaffirmed their estimates in the past month, indicating confidence in the company’s performance.
- Asana has a history of outperforming Wall Street’s expectations, consistently beating revenue estimates by an average of 4.92% over the past two years.
Peers in the Segment:
- Asana’s counterparts in the productivity software sector have already reported Q2 earnings, providing insights into the industry.
- Companies like Atlassian and Monday.com reported strong growth, exceeding analyst estimates, with corresponding positive stock reactions.
Disclaimer: We have no position in any of the stocks mentioned.
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