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 Alteryx (NYSE:AYX), 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 5 data analytics stocks we track reported a decent Q3; on average, revenues beat analyst consensus estimates by 4.2%, while on average next quarter revenue guidance was 1.99% above consensus. There has been a stampede out of high valuation technology stocks as rising 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 3% since the previous earnings results, on average.
Best Q3: 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 $215.7 million, up 74.6% year on year, beating analyst expectations by 12.2%. It was an incredible quarter for the company, with an impressive beat of analyst estimates and very optimistic guidance for the next quarter.
"Alteryx continues to execute at a high level and gain traction with large enterprises. We delivered a strong third quarter with annual recurring revenue (ARR) growth of 33% year-over-year, adjusted for the effect of foreign currency, improved operating profitability, and an increased net expansion rate of 121%," said Mark Anderson, CEO of Alteryx,
Alteryx achieved the strongest analyst estimates beat, fastest revenue growth, and highest full year guidance raise of the whole group. The company added 44 customers to a total of 8,340. The stock is flat since the results and currently trades at $48.10.
Is now the time to buy Alteryx? Access our full analysis of the earnings results here, it's free.
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 $61.6 million, up 35.4% year on year, beating analyst expectations by 2.36%. It was a decent quarter for the company, with exceptional revenue growth.
The stock is down 19% since the results and currently trades at $12.02.
Is now the time to buy Amplitude? Access our full analysis of the earnings results here, it's free.
Slowest Q3: 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 $68.3 million, up 10.7% year on year, beating analyst expectations by 2.33%. It was a weak quarter for the company, with a decline in gross margin and underwhelming revenue guidance for the next quarter.
Health Catalyst had the slowest revenue growth in the group. The stock is up 65.7% since the results and currently trades at $10.69.
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 $477.8 million, up 21.8% year on year, in line with analyst expectations. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter.
Palantir had the weakest performance against analyst estimates among the peers. The stock is down 15.1% since the results and currently trades at $6.73.
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 million, up 21.4% year on year, beating analyst expectations by 3.47%. It was a slower quarter for the company, with underwhelming revenue guidance for the next quarter.
Domo had the weakest full year guidance update among the peers. The stock is down 16.1% since the results and currently trades at $12.49.
The author has no position in any of the stocks mentioned