Q4 Earnings Outperformers: Jamf (NASDAQ:JAMF) And The Rest Of The Automation Software Stocks

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how automation software stocks fared in Q4, starting with Jamf (NASDAQ:JAMF).

The whole purpose of software is to automate tasks to increase productivity. Today, innovative new software techniques, often involving AI and machine learning, are finally allowing automation that has graduated from simple one- or two-step workflows to more complex processes integral to enterprises. The result is surging demand for modern automation software.

The 6 automation software stocks we track reported a strong Q4; on average, revenues beat analyst consensus estimates by 4.5%, while next quarter's revenue guidance was 1.8% below consensus. Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, though the market was optimistic at the end of 2023 due to cooling inflation. The start of 2024 has been a different story as mixed signals have led to market volatility, and automation software stocks have held roughly steady amidst all this, with share prices up 2.4% on average since the previous earnings results.

Weakest Q4: Jamf (NASDAQ:JAMF)

Founded in 2002 by Zach Halmstad and Chip Pearson, right around the time when Apple began to dominate the personal computing market, Jamf (NASDAQ:JAMF) provides software for companies to manage Apple devices such as Macs, iPads, and iPhones.

Jamf reported revenues of $150.6 million, up 15.6% year on year, topping analyst expectations by 1.4%. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations and management forecasting growth to slow.

“Jamf completed 2023 with solid results as organizations choose Jamf to enable an Apple-first, modern approach to managing and securing employee devices,” said John Strosahl, Jamf CEO.

Jamf delivered the weakest full-year guidance update of the whole group. The stock is down 9% since the results and currently trades at $18.14.

Is now the time to buy Jamf? Access our full analysis of the earnings results here, it's free.

Best Q4: Pegasystems (NASDAQ:PEGA)

Founded by Alan Trefler in 1983, Pegasystems (NASDAQ:PEGA) offers a software-as-a-service platform to automate and optimize workflows in customer service and engagement.

Pegasystems reported revenues of $474.2 million, up 19.6% year on year, outperforming analyst expectations by 14.2%. It was an incredible quarter for the company, with an impressive beat of analysts' billings estimates and a significant improvement in its gross margin.

Pegasystems delivered the biggest analyst estimates beat among its peers. The stock is up 13.1% since the results and currently trades at $57.34.

Is now the time to buy Pegasystems? Access our full analysis of the earnings results here, it's free.

UiPath (NYSE:PATH)

Started in 2005 in Romania as a tech outsourcing company, UiPath (NYSE:PATH) makes software that helps companies automate repetitive computer tasks.

UiPath reported revenues of $405.3 million, up 31.3% year on year, exceeding analyst expectations by 5.6%. It was a solid quarter for the company: UiPath soared past analysts' estimates across all key metrics, including revenue, gross margin, EPS, and free cash flow. Its net retention rate and full-year 2024 annualized recurring revenue guidance of $1.73 billion also came in better than expected.

UiPath delivered the fastest revenue growth and highest full-year guidance raise in the group. The stock is down 19.9% since the results and currently trades at $19.56.

Read our full analysis of UiPath's results here.

Everbridge (NASDAQ:EVBG)

Founded as a reaction to the catastrophic events of 9/11, Everbridge (NASDAQ:EVBG) supplies software that helps governments and businesses keep people and infrastructure safe in emergencies.

Everbridge reported revenues of $115.8 million, down 1.2% year on year, in line with analyst expectations. It was a very strong quarter for the company, with an impressive beat of analysts' billings estimates and a narrow beat of analysts' revenue estimates.

Everbridge has agreed in to be taken private by Thoma Bravo for $28.60 a share in cash ($1.5B in total).

Everbridge had the weakest performance against analyst estimates and slowest revenue growth among its peers. The stock is up 23.3% since the results and currently trades at $34.92.

Read our full, actionable report on Everbridge here, it's free.

Appian (NASDAQ:APPN)

Founded by Matt Calkins and his three friends out of an apartment in Northern Virginia, Appian (NASDAQ:APPN) sells a software platform that lets its users build applications without using much code, allowing them to create new software more quickly.

Appian reported revenues of $145.3 million, up 15.5% year on year, surpassing analyst expectations by 3.2%. It was a strong quarter for the company, with a solid beat of analysts' billings estimates and a significant improvement in its gross margin.

The stock is up 9.3% since the results and currently trades at $36.37.

Read our full, actionable report on Appian here, it's free.

Join Paid Stock Investor Research

Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.