Earnings results often give us a good indication what direction will the company will take in the months ahead. With Q4 now behind us, let’s have a look at Elastic (NYSE:ESTC) and its peers.
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 nsights 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 solid Q4; on average, revenues beat analyst consensus estimates by 4.62%, while on average next quarter revenue guidance was 1.57% above consensus. Technology stocks have been hit hard on fears of higher interest rates, but data and analytics software stocks held their ground better than others, with share price down 6.1% since earnings, on average.
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 $223.9 million, up 42.5% year on year, beating analyst expectations by 6.78%. It was a strong quarter for the company, with an exceptional revenue growth and a solid beat of analyst estimates.
The stock is up 7.72% since the results and currently trades at $86.99.
Is now the time to buy Elastic? Access our full analysis of the earnings results here, it's free.
Best Q4: 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 $69.9 million, up 23.1% year on year, beating analyst expectations by 4.31%. It was a very strong quarter for the company, with a very optimistic guidance for the next quarter and a full year guidance beating analysts' expectations.
The stock is up 12.8% since the results and currently trades at $49.50.
Is now the time to buy Domo? Access our full analysis of the earnings results here, it's free.
Weakest Q4: 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 $49.4 million, up 75.1% year on year, beating analyst expectations by 5.26%. It was a weaker quarter for the company, with revenue guidance missing analysts' expectations for both the full year and the next quarter.
The stock is down 55.6% since the results and currently trades at $18.44.
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 $64.7 million, up 21.4% year on year, beating analyst expectations by 2.48%. It was a weaker quarter for the company, with revenue guidance missing analysts' expectations for both the full year and the next quarter.
The stock is down 8.24% since the results and currently trades at $24.27.
Commvault Systems (NASDAQ:CVLT)
Originally formed in 1988 as part of Bell Labs, Commvault (NASDAQ: CVLT) provides enterprise software used for data backup and recovery, cloud and infrastructure management, retention and compliance.
Commvault Systems reported revenues of $202.3 million, up 7.65% year on year, beating analyst expectations by 3.91%. It was a mixed quarter for the company, with a decent beat of analyst estimates but a slow revenue growth.
Commvault Systems had the slowest revenue growth among the peers. The company added 62 enterprise customers paying more than $100,000 annually to a total of 225. The stock is down 4.91% since the results and currently trades at $64.43.
The author has no position in any of the stocks mentioned