WalkMe (WKME) Q3 Earnings Report Preview: What To Look For
Stock Story
Published Nov 13, 2023 02:02AM ET
Updated Nov 13, 2023 06:31AM ET
WalkMe (WKME) Q3 Earnings Report Preview: What To Look For
User support software provider WalkMe (NASDAQ: WKME) will be reporting earnings tomorrow morning. Here's what investors should know.
Last quarter WalkMe reported revenues of $66.16 million, up 10.4% year on year, in line with analyst expectations. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations and underwhelming revenue guidance for the next quarter.
Is WalkMe buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting WalkMe's revenue to grow 6.4% year on year to $67.41 million, slowing down from the 25.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 1.3%.
Looking at WalkMe's peers in the sales and marketing software segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Shopify (NYSE:SHOP) delivered top-line growth of 25.5% year on year, beating analyst estimates by 2.6% and The Trade Desk (NASDAQ:TTD) reported revenues up 24.9% year on year, exceeding estimates by 1.2%. Shopify traded up 16.9% on the results, The Trade Desk was down 26.3%.
Read the full analysis of Shopify's and The Trade Desk's results on StockStory.
Triggered by the Federal Reserve's hawkish stance on interest rates, shares of technology companies have been facing sell-off since 2022 and while some of the sales and marketing software stocks have fared somewhat better, they have not been spared, with share price declining 2.7% over the last month. WalkMe is up 6.8% during the same time, and is heading into the earnings with analyst price target of $12.6, compared to share price of $9.45.
The author has no position in any of the stocks mentioned.
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