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 Amplitude (NASDAQ:AMPL), and the best and worst performers in the data analytics group.
Organizations generate a lot of data that is stored in silos, often in incompatible formats, making it slow and costly to extract actionable insights, which in turn drives demand for modern cloud-based data analysis platforms that can efficiently analyze the silo-ed data.
The 4 data analytics stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 2.16%, while on average next quarter revenue guidance was 1.46% under consensus. Tech stocks have had a rocky start in 2022, but data analytics stocks held their ground better than others, with share price down 0.05% since earnings, on average.
Best Q1: Amplitude (NASDAQ:AMPL)
Born out of a failed voice recognition startup by founder Spenser Skates, Amplitude (NASDAQ:AMPL) is data analytics software helping companies improve and optimize their digital products.
Amplitude reported revenues of $53 million, up 46.6% year on year, beating analyst expectations by 4.36%. It was a solid quarter for the company, with an exceptional revenue growth and a decent beat of analyst estimates.
"Digital products are becoming the central driver for how businesses operate, go to market and generate revenue,” said Spenser Skates, CEO and co-founder of Amplitude.
Amplitude pulled off the strongest analyst estimates beat and fastest revenue growth of the whole group. The company added 104 customers to a total of 1,701. The stock is down 11.4% since the results and currently trades at $14.99.
Is now the time to buy Amplitude? Access our full analysis of the earnings results here, it's free.
Health Catalyst (NASDAQ:HCAT)
Founded by healthcare professionals Tom Burton and Steve Barlow in 2008, Health Catalyst (NASDAQ:HCAT) provides data and analytics technology to healthcare organizations, enabling them to improve care and lower costs.
Health Catalyst reported revenues of $68 million, up 21.9% year on year, beating analyst expectations by 3.13%. It was a mixed quarter for the company, with a significant improvement in gross margin but an underwhelming revenue guidance for the next quarter.
Health Catalyst had the slowest revenue growth and weakest full year guidance update among its peers. The stock is up 21.2% since the results and currently trades at $15.69.
Is now the time to buy Health Catalyst? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Palantir (NYSE:PLTR)
Started by Peter Thiel after seeing US defence agencies struggle in the aftermath of the 2001 terrorist attacks, Palantir (NYSE:PLTR) offers software as a service platform that helps government agencies and large enterprises use data to make better decisions.
Palantir reported revenues of $446.3 million, up 30.8% year on year, in line with analyst expectations. It was a weaker quarter for the company, with an underwhelming revenue guidance for the next quarter.
The stock is down 1.79% since the results and currently trades at $9.31.
Read our full analysis of Palantir's results here.
Founded by Josh James after selling his former business Omniture to Adobe, Domo (NASDAQ:DOMO) provides business intelligence software that allows managers to access and visualize critical business metrics in real-time, using their smartphones.
Domo reported revenues of $74.4 million, up 23.9% year on year, in line with analyst expectations. It was a mixed quarter for the company, with a significant improvement in gross margin but an underwhelming revenue guidance for the next quarter.
Domo achieved the highest full year guidance raise but had the weakest performance against analyst estimates among the peers. The stock is down 8.22% since the results and currently trades at $27.68.
Read our full, actionable report on Domo here, it's free.
The author has no position in any of the stocks mentioned