Looking back on data analytics stocks' Q1 earnings, we examine this quarter's best and worst performers, including Domo (NASDAQ:DOMO) and its peers.
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 5 data analytics stocks we track reported a weaker Q1; on average, revenues beat analyst consensus estimates by 1.92%, while on average next quarter revenue guidance was 3.4% under consensus. There has been a stampede out of high valuation technology stocks as raising interest rates encourage investors to value profits over growth again , but data analytics stocks held their ground better than others, with the share prices up 18.3% since the previous earnings results, on average.
Domo (NASDAQ:DOMO)
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 $79.5 million, up 6.71% year on year, in line with analyst expectations. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter.
“Domo helps companies of all sizes capitalize on the full potential of their data by empowering each employee to be a multiplier of business impact,” said Josh James, founder and CEO, Domo.
Domo delivered the slowest revenue growth of the whole group. The stock is up 3.38% since the results and currently trades at $15.31.
Read our full report on Domo here, it's free.
Best Q1: 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 $73.9 million, up 8.49% year on year, beating analyst expectations by 3.66%. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter and a full year guidance missing analysts' expectations.
The stock is down 1.34% since the results and currently trades at $11.78.
Is now the time to buy Health Catalyst? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Alteryx (NYSE:AYX)
Initially created as a way to organise census data for the government, Alteryx (NYSE:AYX) provides software that helps companies automate and analyse their internal data processes.
Alteryx reported revenues of $199.1 million, up 26.1% year on year, missing analyst expectations by 0.49%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and decelerating customer growth.
Alteryx pulled off the fastest revenue growth but had the weakest performance against analyst estimates in the group. The company lost 20 customers and ended up with a total of 8,338. The stock is down 13.8% since the results and currently trades at $43.97.
Read our full analysis of Alteryx's results here.
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 $66.5 million, up 25.3% year on year, beating analyst expectations by 1.9%. It was a weaker quarter for the company, with revenue guidance for the next quarter and the full year missing analysts' expectations.
Amplitude had the weakest full year guidance update among the peers. The company added 181 customers to a total of 2,175. The stock is down 3.79% since the results and currently trades at $11.18.
Read our full, actionable report on Amplitude here, it's free.
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 $525.2 million, up 17.7% year on year, beating analyst expectations by 3.8%. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter. Despite this, management noted that the company is expected to remain profitable every quarter through the end of the year.
Palantir delivered the strongest analyst estimates beat and highest full year guidance raise among the peers. The stock is up 107% since the results and currently trades at $16.08.
Read our full, actionable report on Palantir here, it's free.
The author has no position in any of the stocks mentioned