Category: Software

BioTech, Software

Automatic Data Processing Posts Strong Growth in Quarter

Automatic Data Processing (ADP) reported solid fiscal second-quarter results Wednesday morning. Revenue growth was 9%, and EPS of $0.78 were about $0.01 above our estimate, although the $0.01 of upside is mainly attributable to a lower-than-expected tax rate. The fastest-growing part of the company remained the PEO segment (up 14%, 18% of total revenue), but revenue growth also was slightly better than expected in the … Continue reading Automatic Data Processing Posts Strong Growth in Quarter

John Meady
Software, Tech IPO

TechTarget Has Muted Outlook but Strong Forecasts for 2014

TechTarget (TTGT) reported essentially in-line 3Q13 results as revenue growth in product offerings and international were able partially offset ongoing weakness in the North American IT Market. Total revenue fell 10% year over year, and while 4Q revenue guidance of a 7% year over year decline at the mid-point calls for minimal improvement, management cited a return to double-digit growth in Online revenue for 2014 … Continue reading TechTarget Has Muted Outlook but Strong Forecasts for 2014

Colin Pettis
Services Sector, Software, Tech IPO

InterActiveCorp Set to Report After the Bell

InterActiveCorp is set to report 3Q13 results today after the close. While we believe it is generally understood that 3Q is expected to be a trough for the affiliate search market, reflecting the timing of implementation of certain Google policy changes, soft CPC results and limited Network revenue growth could indicate incremental pressure on IAC’s 3Q Search results. As an offset, however, Match growth is … Continue reading InterActiveCorp Set to Report After the Bell

Chris Lewis
Consumer Goods, Diversified Tech, Software

LivePerson, Inc. 3Q Results Make the Grade; Getting Nearer to the Turn

Last night, LivePerson Inc., (LPSN) reported stronger than expected 3Q earnings, beating our and the Street’s estimates for bookings, total revenue and non-GAAP EPS. For the next quarter and 2013, management is guiding largely in line with the consensus, though it is tightening the full year ranges for revenue and EPS. Though the company reported respectable results and valuation is reasonable (2.1x EV/2014E Revenue), we … Continue reading LivePerson, Inc. 3Q Results Make the Grade; Getting Nearer to the Turn

Mark DeFrance
Diversified Tech, Software

NetSuite Reports Another Solid Quarter

NetSuite reported another solid quarter last night, delivering total revenue, subscription revenue and billings above our (and the Street’s) expectations. Consistent with prior periods, Q3 was driven by increasing average deal sizes from the company’s move up market, good retention in the installed base and an increasingly effective channel partner network. Management maintained its customary upbeat tone on the call, highlighting the good performance and … Continue reading NetSuite Reports Another Solid Quarter

Mark Doerr
Software, Tech IPO

Geeknet Posts 30% Revenue Growth in Third Quarter

Geeknet reported strong 3Q13 revenue growth of 30% to $22.4 million vs. the 22% Street estimate, reflecting a significant quarter over quarter increase in new product launches and increased penetration in the wholesale channel. Adjusted EBITDA of a loss of $831,000 also exceeded our forecast, highlighting what we believe are sustainable margin improvements over the longer term, spearheaded by strong hires at the beginning of … Continue reading Geeknet Posts 30% Revenue Growth in Third Quarter

Colin Pettis