Stock Story -
Business automation software provider Upland Software (NASDAQ: NASDAQ:UPLD) will be announcing earnings results tomorrow after market hours. Here's what investors should know.
Upland met analysts' revenue expectations last quarter, reporting revenues of $72.18 million, down 8.4% year on year. It was a weak quarter for the company, with management forecasting growth to slow and underwhelming revenue guidance for the next quarter.
Is Upland a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Upland's revenue to decline 11.3% year on year to $68.33 million, a further deceleration from the 2.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 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. Upland has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 1.7% on average.
Looking at Upland's peers in the sales and marketing software segment, only VeriSign (NASDAQ:VRSN) has reported results so far. It met analysts' revenue estimates, delivering year-on-year sales growth of 5.5%. The stock was down 4% on the results.
Read the full analysis of VeriSign's results on StockStory. Growth stocks have been quite volatile since the start of 2024, and while some of the sales and marketing software stocks have fared somewhat better, they have not been spared, with share prices down 4% on average over the last month. Upland is down 22.7% during the same time and is heading into earnings with an average analyst price target of $4.7 (compared to the current share price of $2.21).