Apple device management company, Jamf (NASDAQ: JAMF) will be reporting results tomorrow after the bell. Here’s what to expect.
Jamf met analysts’ revenue expectations last quarter, reporting revenues of $153 million, up 13.3% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates but a miss of analysts’ billings estimates.
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 10.5% year on year to $157.5 million, slowing from the 14.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.16 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 1.5% on average.
Looking at Jamf’s peers in the automation software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Microsoft delivered year-on-year revenue growth of 16%, beating analysts’ expectations by 1.6%, and ServiceNow reported revenues up 22.2%, topping estimates by 1.9%. Microsoft traded down 6.3% following the results while ServiceNow was up 5.4%.
Read our full analysis of Microsoft’s results here and ServiceNow’s results here.
There has been positive sentiment among investors in the automation software segment, with share prices up 7% on average over the last month. Jamf is up 2.6% during the same time and is heading into earnings with an average analyst price target of $22.89 (compared to the current share price of $17.11).
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