Stock Story -
Business automation software provider Upland Software (NASDAQ: NASDAQ:UPLD) will be reporting results tomorrow afternoon. Here's what to expect.
Upland beat analysts' revenue expectations by 3.5% last quarter, reporting revenues of $70.74 million, down 8.2% year on year. It was an ok quarter for the company, with a significant improvement in its gross margin.
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 9% year on year to $67.76 million, a further deceleration from the 7.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.13 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 1.9% on average.
Looking at Upland's peers in the sales and marketing software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. VeriSign (NASDAQ:VRSN) delivered year-on-year revenue growth of 4.1%, meeting analysts' expectations, and Freshworks (NASDAQ:FRSH) reported revenues up 20%, topping estimates by 3%. VeriSign traded up 4.3% following the results.
Read the full analysis of VeriSign's and Freshworks's results on StockStory.
There has been positive sentiment among investors in the sales and marketing software segment, with share prices up 2.2% on average over the last month. Upland is down 6.8% during the same time and is heading into earnings with an average analyst price target of $3.3 (compared to the current share price of $2.45).
