SAAS earnings... COVID tailwinds only?
SoftwareEquityGroup analysed SaaS Earnings and found most were beating FY20Q1 guidance but lowered Full Year guidance, Autodesk even by 8%. In contrast, Big Data stocks like Splunk, ARR up 52% YoY, and Alteryx, ARR YoY up 43%, showing solid earnings as well. Areas like content delivery soar (Fastly), and obviously Shopify and Zoom doing well.
Bottomline: Many SaaS ISVs active in digital transformation and remote work seem to benefit as expected from Covid, but are providing a cautious outlook. Those in more traditional industries do feel pain.