The end of an earnings season can be a great time to assess how companies are handling the current business environment and discover new stocks. Let’s have a look at how Health Catalyst (NASDAQ:HCAT) and the rest of the data analytics stocks fared in Q1.
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. There has been a stampede out of high valuation technology stocks, but data analytics stocks held their ground better than others, with the share price up 4.84% since earnings, on average.
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.
“In the first quarter of 2022, I am pleased to share that we began the year by achieving strong performance across our business, including exceeding the mid-point of our quarterly guidance for both revenue and Adjusted EBITDA,” said Dan Burton, CEO of Health Catalyst.
Health Catalyst delivered the slowest revenue growth and weakest full year guidance update of the whole group. The stock is up 31.3% since the results and currently trades at $17.
Is now the time to buy Health Catalyst? Access our full analysis of the earnings results here, it's free.
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.
Amplitude scored the strongest analyst estimates beat and fastest revenue growth among its peers. The company added 104 customers to a total of 1,701. The stock is down 12.4% since the results and currently trades at $14.82.
Is now the time to buy Amplitude? 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 up 0.21% since the results and currently trades at $9.50.
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 scored the highest full year guidance raise but had the weakest performance against analyst estimates among the peers. The stock is up 0.29% since the results and currently trades at $30.25.
Read our full, actionable report on Domo here, it's free.
The author has no position in any of the stocks mentioned