Quarterly earnings results are a good time to check in on a company’s progress, especially compared to other peers in the same sector. Today we are looking at UiPath (NYSE:PATH), and the best and worst performers in the automation software group.

The whole purpose of software is to automate tasks to increase productivity. Today, innovative new software techniques, often involving AI and machine learning, are finally allowing automation that has graduated from simple one- or two-step workflows to more complex processes integral to enterprises. The result is surging demand for modern automation software.

The 6 automation software stocks we track reported a weak Q2; on average, revenues were in line with analyst consensus estimates, while on average next quarter revenue guidance was 1.13% under consensus. Technology stocks have been hit hard by fears of higher interest rates as investors search for near-term cash flows and automation software stocks have not been spared, with share prices down 12.4% since the previous earnings results, on average.

UiPath (NYSE:PATH)

Started in 2005 in Romania as a tech outsourcing company, UiPath (NYSE:PATH) makes software that helps companies automate repetitive computer tasks.

UiPath reported revenues of $287.3 million, up 18.6% year on year, beating analyst expectations by 1.86%. It was a decent quarter for the company, with a beat of analysts' revenue estimates. It was also good to see that its full-year guidance was raised across the board and came in higher than Wall Street's estimates, especially on non-GAAP operating profit.

“We delivered second quarter fiscal 2024 ARR growth of 25 percent while executing on our strategic initiatives and driving operational excellence across the company,” said Rob Enslin, UiPath Co-Chief Executive Officer.

The stock is up 0.49% since the results and currently trades at $16.29.

Is now the time to buy UiPath? Access our full analysis of the earnings results here, it's free.

Best Q2: Appian (NASDAQ:APPN)

Founded by Matt Calkins and his three friends out of an apartment in Northern Virginia, Appian (NASDAQ:APPN) sells a software platform that lets its users build applications without using much code, allowing them to create new software more quickly.

Appian reported revenues of $127.7 million, up 16% year on year, beating analyst expectations by 3.15%. It was a mixed quarter for the company, with a decent beat of analysts' revenue estimates but a decline in its gross margin.

Appian pulled off the strongest analyst estimates beat and highest full year guidance raise among its peers. The stock is down 11.8% since the results and currently trades at $42.51.

Is now the time to buy Appian? Access our full analysis of the earnings results here, it's free.

Weakest Q2: Pegasystems (NASDAQ:PEGA)

Founded by Alan Trefler in 1983, Pegasystems (NASDAQ:PEGA) offers a software-as-a-service platform to automate and optimize workflows in customer service and engagement.

Pegasystems reported revenues of $298.3 million, up 8.72% year on year, missing analyst expectations by 3.98%. It was a weak quarter for the company, with a miss of analysts' revenue estimates and a decline in its gross margin.

Pegasystems had the weakest performance against analyst estimates in the group. The stock is down 21.5% since the results and currently trades at $43.26.

Read our full analysis of Pegasystems's results here.

Jamf (NASDAQ:JAMF)

Founded in 2002 by Zach Halmstad and Chip Pearson, right around the time when Apple began to dominate the personal computing market, Jamf (NASDAQ:JAMF) provides software for companies to manage Apple devices such as Macs, iPads, and iPhones.

Jamf reported revenues of $135.1 million, up 16.8% year on year, in line with analyst expectations. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and full-year.

The stock is down 12.6% since the results and currently trades at $17.34.

Read our full, actionable report on Jamf here, it's free.

Everbridge (NASDAQ:EVBG)

Founded as a reaction to the catastrophic events of 9/11, Everbridge (NASDAQ:EVBG) supplies software that helps governments and businesses keep people and infrastructure safe in emergencies.

Everbridge reported revenues of $110.6 million, up 7.36% year on year, in line with analyst expectations. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations. Additionally, next quarter's revenue guidance missed Wall Street's expectations as well.

Everbridge had the slowest revenue growth and weakest full year guidance update among the peers. The stock is down 23.6% since the results and currently trades at $22.27.

Read our full, actionable report on Everbridge here, it's free.

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The author has no position in any of the stocks mentioned