As data analytics stocks’ Q3 earnings season wraps, let's dig into this quarters’ best and worst performers, including Palantir (NYSE:PLTR) 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 4 data analytics stocks we track reported a decent Q3; on average, revenues beat analyst consensus estimates by 2.14%, while on average next quarter revenue guidance was 1.54% above consensus. Tech stocks have had a rocky start in 2022 and data analytics stocks have not been spared, with share price down 38.7% since earnings, on average.
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 $392.1 million, up 35.5% year on year, beating analyst expectations by 1.51%. It was a very strong quarter for the company, with a very optimistic guidance for the next quarter and an exceptional revenue growth.
The stock is down 37.2% since the results and currently trades at $16.77.
Is now the time to buy Palantir? Access our full analysis of the earnings results here, it's free.
Best Q3: 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 $45.4 million, up 72.4% year on year, beating analyst expectations by 4.36%. It was a strong quarter for the company, with an exceptional revenue growth and an optimistic guidance for the next quarter.
Amplitude scored the strongest analyst estimates beat, fastest revenue growth, and highest full year guidance raise among its peers. The company added 137 customers to a total of 1,417. The recently IPOed stock is down 48.1% since the results and currently trades at $44.
Is now the time to buy Amplitude? Access our full analysis of the earnings results here, it's free.
Weakest Q3: 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 $65 million, up 21.3% year on year, beating analyst expectations by 1.19%. It was a weaker quarter for the company, with an underwhelming revenue guidance for the next quarter.
Domo had the weakest performance against analyst estimates, slowest revenue growth, and weakest full year guidance update in the group. The stock is down 31.8% since the results and currently trades at $44.29.
Read our full analysis of Domo'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 $61.7 million, up 30.8% year on year, beating analyst expectations by 1.5%. It was an OK quarter for the company, with a narrow beat of analyst estimates and guidance in line with expectations.
The stock is down 34.9% since the results and currently trades at $32.90.
Read our full, actionable report on Health Catalyst here, it's free.
The author has no position in any of the stocks mentioned