ANSYS (ANSS) Reports Q3: Everything You Need To Know Ahead Of Earnings
Engineering simulation software provider Ansys (NASDAQ:) will be reporting results tomorrow afternoon. Here’s what investors should know.
Last quarter ANSYS reported revenues of $496.6 million, up 4.8% year on year, beating analyst revenue expectations by 1.33%. It was a mixed quarter for the company, with revenue and EPS exceeding expectations. On the other hand, revenue guidance for the next quarter came in below Consensus.
Is ANSYS buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting ANSYS’s revenue to decline 1.22% year on year to $466.7 million, a deceleration on the 7.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.27 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 3.2%.
Looking at ANSYS’s peers in the vertical software segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Cadence delivered top-line growth of 13.4% year on year, beating analyst estimates by 1.82% and Agilysys (NASDAQ:) reported revenues up 22.8% year on year, exceeding estimates by 3.13%. Cadence traded flat on the results, and Agilysys was up 21.7%.
Read the full analysis of Cadence’s and Agilysys’s results on StockStory.
Technology stocks have been hit hard by fears of higher interest rates and while some of the vertical software stocks have fared somewhat better, they have not been spared, with share price declining 8.09% over the last month. ANSYS is down 7.48% during the same time, and is heading into the earnings with analyst price target of $331.9, compared to share price of $275.1.
The author has no position in any of the stocks mentioned.
