Wall Street's second-quarter earnings season is nearing its end, with the high-profile US mega-cap tech stocks such as (NASDAQ:), (NASDAQ:), (NASDAQ:), Google parent company (NASDAQ) : ), (NASDAQ:), and (NASDAQ:), which have already reported quarterly results.
While most of the attention has been on those names, several cloud computing software companies – which have regained their foothold after an industry-wide sell-off earlier this year – are yet to publish their respective results.
As such, here are three fast-growing names to consider ahead of their quarterly reports in the coming days. All three still have plenty of room to grow their respective businesses, making them solid long-term investments.
1. Trade Desk
Arrival date: Monday 9 August
EPS growth estimate: -86.9% Y-o-Y
Estimated revenue growth: +87.5% Y-o-Y
Performance to date: +3.8%
Market capitalization : $39.6 billion
Trade Desk (NASDAQ:), which has surpassed Wall Street's sales estimates for 19 consecutive years, dating back to the time it went public in the third quarter of 2016, reports its latest financial results before US market opens on Monday, August 9
Consensus calls for second-quarter earnings per share (EPS) of $0.12, down nearly 87% from earnings per share of $0.92 in the same period a year ago, primarily as due to rising share-based compensation.
Meanwhile, revenues are forecast to grow 87.5% to $261.4 million, driven by the robust growth of the online ad buying platform, which allows customers to buy and manage data-driven digital ad campaigns across devices.
As such, investors will be curious to see if Trade Desk sees explosive growth year over year in its connected TV (CTV), mobile video and audio markets, all of which posted double-digit gains in the first quarter.
Market players will pay close attention to the digital ad buying specialist's outlook for the current quarter amid lingering uncertainty due to the COVID pandemic.
Shares of the Ventura, California-based company – which rose 208% in 2020 thanks to a growing wave in digital ad purchases during the pandemic lockdowns – have risen more slowly this year, climbing just 3.8%.
TTD shares, which recently split ten-to-one, ended Tuesday's session at $83.16, giving the ad buying platform a valuation of $39.6 billion.
At current levels, the stock remains about 14.5% below its all-time high of $97.28 reached on Dec. 22.
2. Digital Turbine
Arrival date: Monday 9 August
EPS growth estimate: + 115.4% Y-o-Y
Estimated revenue growth: +192.7% Y-o-Y
Performance to date: + 12%
Market Capitalization: $6.1 billion
Digital Turbine (NASDAQ:) — which shattered last-quarter earnings and records thanks to broad strength in the mobile media advertising market — is expected to report fiscal first quarter financial results on Monday, Aug. 9, ahead of the opened.
Consensus estimates call for the mobile ad technology company to post earnings per share of $0.28, an improvement of 115% from earnings per share of $0.13 in the same period a year ago.
Revenues are expected to grow more than 190% year-over-year to a record $172.7 million, reflecting strong demand for its on-demand media platform, which aims to enable content discovery. simplify and deliver relevant content directly to consumer devices.
In addition to the top and bottom-line numbers, the focus will be on growth in application media revenue, the company's largest segment. The key sales metric rose 95% year-over-year to $67.2 million in the previous quarter.
Market players will also examine management's comments regarding the digital advertising company's recent acquisitions, including Fyber, Mobile Posse, Appreciate and AdColony.
Widely regarded as one of the leading mobile content monetization platforms, Digital Turbine has seen its shares rise a whopping 350% over the past 12 months, making it one of the best performing names in the fast-growing space. ]
APPS stock, which was about 38% below the record high of $102.37 on March 2, closed at $63.35 last night. At its current level, the Austin, Texas-based mobile communications software provider has a market cap of $6.1 billion.
3. Palantir technologies
Income date: Thursday 12 August
EPS growth estimate: -25% Q-o-Q
Estimated revenue growth: +5.5% Q-o-Q
Performance to date: -5.5%
Market Cap: $41.8 Billion
Palantir Technologies (NYSE:), which provides data analytics software and services to government agencies and large corporations, is slated to report profits for the fourth time as a publicly traded company ahead of the opening bell on Thursday, Aug. 12. As such, it does not face year-to-year comparisons.
Consensus estimates call for the enterprise software company — which beat estimates for earnings and sales in the previous three quarters — to post Q2 EPS of $0.03 per share, a 25% drop from EPS of $0.04 in the previous quarter.
Revenues are expected to grow 5.5% from the last quarter to an all-time high of $359.8 million, benefiting from increased demand for its data analytics software tools from government agencies around the world.
Palantir generates more than half of its total turnover from government contracts. As such, investors will continue to focus on growing Palantir's public sector revenues, which rose to $208 million in the previous quarter.
Total commercial revenue, which rose to $133 million in the last quarter, will also be looked at as the company seeks to diversify its customer base.
With 149 customers, Palantir wants to expand into several other sectors, such as , and manufacturing.
In addition, investors will focus on Palantir's guidance for the rest of the year and beyond. The big data company said in the release that it expects annual revenue growth of 30% or more for 2021 through 2025.
PLTR shares ended yesterday's session at $22.24, about 50% below the all-time high of $45.00 reached in late January. At its current level, the Denver, Colorado-based data mining company has a market cap of $41.8 billion.
Despite losses so far, shares of the analytics software provider founded by Peter Thiel are still up 122% since their trading debut in September 2020, thanks to growing demand for its high-tech software tools.
