3450

Data and Analytics Software Stocks Q1 Recap: Benchmarking Elastic (NYSE:ESTC)


Adam Hejl /
2022/07/06 4:32 am EDT
Add to Watchlist

As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q1. Today we are looking at the data and analytics software stocks, starting with Elastic (NYSE:ESTC).

Data is the lifeblood of the internet and software, and its importance to businesses continues to accelerate. Tracking sensors, ubiquitous mobile devices, and every action in every app are producing an explosion of analyzable data which increasingly gets stored in public cloud environments. This drives demand for a variety of software solutions, from databases to analytics software, which help companies derive actionable insights from the data to better understand customer preferences, supply chains, and forecast at ever more granular levels to improve their competitive advantage.

The 12 data and analytics software stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 3.19%, while on average next quarter revenue guidance was 0.76% under consensus. Tech stocks have had a rocky start in 2022, but data and analytics software stocks held their ground better than others, with the share price up 10.4% since earnings, on average.

Elastic (NYSE:ESTC)

Started by Shay Banon as a search engine for his wife's growing list of recipes at Le Cordon Bleu cooking school in Paris, Elastic (NYSE:ESTC) helps companies integrate search into their products and monitor their cloud infrastructure.

Elastic reported revenues of $239.3 million, up 34.7% year on year, beating analyst expectations by 3%. It was a mixed quarter for the company, with a strong top line growth but an underwhelming guidance for the next year.

Elastic Total Revenue

The stock is up 21.6% since the results and currently trades at $75.55.

Is now the time to buy Elastic? Access our full analysis of the earnings results here, it's free.

Best Q1: Confluent (NASDAQ:CFLT)

Started in 2014 by the team of engineers at LinkedIn who originally built it as an internal tool, Confluent (NASDAQ:CFLT) provides infrastructure software for organizations that makes it easy and fast to collect and move large amounts of data between different systems.

Confluent reported revenues of $126.1 million, up 63.7% year on year, beating analyst expectations by 6.45%. Despite the stock dropping on the results, it was a very strong quarter for the company, with an exceptional revenue growth and a solid beat of analyst estimates.

Confluent Total Revenue

Confluent achieved the highest full year guidance raise among its peers. The company added 57 enterprise customers paying more than $100,000 annually to a total of 791. The stock is down 4.39% since the results and currently trades at $27.

Is now the time to buy Confluent? Access our full analysis of the earnings results here, it's free.

Weakest Q1: C3.ai (NYSE:AI)

Founded in 2009 by enterprise software veteran Tom Seibel, C3.ai (NYSE:AI) provides software that makes it easy for organizations to add artificial intelligence technology to their applications.

C3.ai reported revenues of $72.3 million, up 38.3% year on year, beating analyst expectations by 1.44%. It was a weak quarter for the company, with revenue guidance for both the next quarter and the full year below analysts' estimates.

C3.ai had the weakest full year guidance update in the group. The stock is up 6.25% since the results and currently trades at $19.70.

Read our full analysis of C3.ai's results here.

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.

The stock is up 32.2% since the results and currently trades at $17.12.

Read our full, actionable report on Health Catalyst here, it's free.

MongoDB (NASDAQ:MDB)

Started in 2007 by the team behind Google’s ad platform DoubleClick, MongoDB offers database-as-a-service that helps companies store large volumes of semi-structured data.

MongoDB reported revenues of $285.4 million, up 57.1% year on year, beating analyst expectations by 6.86%. It was a strong quarter for the company, with an exceptional revenue growth.

MongoDB achieved the strongest analyst estimates beat among the peers. The company added 72 enterprise customers paying more than $100,000 annually to a total of 1,379. The stock is up 26% since the results and currently trades at $304.

Read our full, actionable report on MongoDB here, it's free.

The author has no position in any of the stocks mentioned