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Earnings: 2 Hot Tech Stocks to Watch in August

Earnings: 2 Hot Tech Stocks to Watch in August

Posted On August 14, 2019 2:32 pm
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While many of the biggest companies in the U.S. have already reported their latest quarterly results this earnings season, there are still some stragglers in the second half of August. Two in particular worth watching this month will be financial software company Intuit (NASDAQ:INTU) and enterprise identity specialist Okta(NASDAQ:OKTA).

Ahead of these two companies’ earnings reports later this month, here’s a preview of some key items to watch.

Intuit

Intuit, provider of popular software platforms for tax prep (TurboTax), bookkeeping (QuickBooks), and personal finance (Mint), has seen a nice run-up this year, rising 42% year to date. That reflects Intuit’s strong traction in software solutions for small businesses and the self-employed as well as a robust tax season.

When Intuit reports its fourth-quarter results on Aug. 22, investors will look for the company to keep up its strong revenue growth, which has trended at a year-over-year rate of 12% for three quarters in a row.

In addition, investors should look for more sharp revenue growth in the company’s small-business online ecosystem — a category that includes revenue from Intuit’s online small-business and self-employed group offerings. Online ecosystem revenue increased 38% year over year in fiscal Q3. Did it keep growing this rapidly in fiscal Q4?

Okta

As with Intuit, investors have been…

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