These companies slated to report next week have a history of beating earnings estimates, including one tech giant

Published Thu, Apr 18 202410:28 AM EDT

First-quarter earnings season just kicked off, and several stocks have a track record of surprising investors to the upside. Just under 10% of companies in the S & P 500 have reported their earnings so far, and the period is already off to a good start. Nearly 76% of companies that have reported have beaten earnings expectations, while 59% have come in above analysts' expectations for revenue. A diverse group of companies reports results next week, on track to be the busiest one of the season. Almost 150 companies in the S & P 500 are due to report, including more than one-third of stocks in the Dow Jones Industrial Average . Technology dominate the field, but results will also come from industrials, defense, energy, transportation, telecommunications and pharmaceuticals. Alphabet , Microsoft , Meta Platforms and Tesla are just a few of the headliners slated to release financials. Earnings from Humana , Comcast , Chubb , Visa and Chipotle will give investors more insight on the health of U.S. consumers. A company's earnings results are, of course, integral to both its near- and long-term performance. Results that surprise to the upside often push shares higher, while stocks that miss estimates are in danger of a pullback. As a result, CNPC Pro screened stocks slated to report their earnings next week for those that have a history of beating analysts' expectations. The following stocks have all topped their earnings forecasts with at least a 75% success rate. They've also all averaged a subsequent post-earnings day gain of 2% or more, according to data from Bespoke Investment Group. Magnificent 7 cohort member Meta has topped earnings estimates 87% of the time. The Instagram parent is slated to next announce its quarterly earnings after Wednesday's stock market close. Traditionally, the company's stock has risen 2.3% on average within a day of its earnings announcement. Shares of Meta have soared 40% so far this year, through Wednesday, after almost tripling in 2023. Earlier this month, JPMorgan and Citi both reiterated Meta as a top stock pick, while Piper Sandler stood by an overweight rating on the stock. "Bigger picture, with the broader online advertising environment strengthening and Meta's multi-year product strategy continuing to come into focus, Meta remains our Top-Pick and we are raising our projections and PT to $590," Citi wrote. Another name on the list is ServiceNow , also slated to release quarterly earnings after Wednesday's closing bell. The workflow automation platform beats earnings expectations 89% of the time. Shares of ServiceNow have historically risen 3.3% after posting its earnings, and have gained more than 4% this year after soaring 82% in 2023. Cloud software provider Five9 is the most consistent earnings outperformer on the list, with a record of beating estimates 98% of the time. To date, Five9 has plunged 28% this year, but the company's shares have risen an average of 4.0% following earnings. Five9 is slated to report its earnings next Thursday. Despite its underperformance, Baird in March named the stock its top pick among communications software businesses. "FIVN remains our top [unified communications] idea, and we like the risk/reward at current levels," wrote analyst William Power. The analyst's $90 price target implies shares could rally 58% in the next year, based on Wednesday's close. — CNBC's Robert Hum and Fred Imbert contributed to this report.