As the Q4 earnings season wraps, let's dig into this quarter's best and worst performers in the data analytics industry, 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 siloed data.
The 4 data analytics stocks we track reported a slower Q4; on average, revenues beat analyst consensus estimates by 0.9%, while next quarter's revenue guidance was 1% below consensus. Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed signals about inflation have led to uncertainty around rate cuts, and data analytics stocks have had a rough stretch, with share prices down 18.6% on average since the previous earnings results.
Best Q4: 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 $608.4 million, up 19.6% year on year, in line with analyst expectations. It was a solid quarter for the company, with an impressive beat of analysts' billings estimates and management forecasting accelerating growth.
Palantir achieved the fastest revenue growth and highest full-year guidance raise of the whole group. The stock is up 23.7% since the results and currently trades at $20.69.
Read why we think that Palantir is one of the best data analytics stocks, our full report is free.
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 $80.18 million, flat year on year, in line with analyst expectations. It was a mixed quarter for the company, with an impressive beat of analysts' billings estimates but full-year revenue guidance missing analysts' expectations.
Domo had the slowest revenue growth among its peers. The stock is down 30.5% since the results and currently trades at $7.89.
Is now the time to buy Domo? Access our full analysis of the earnings results here, it's free.
Weakest Q4: 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 $75.08 million, up 8.6% year on year, exceeding analyst expectations by 2%. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations and management forecasting growth to slow.
Health Catalyst delivered the biggest analyst estimates beat but had the weakest full-year guidance update in the group. The stock is down 34.9% since the results and currently trades at $5.51.
Read our full analysis of Health Catalyst's results here.
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 $71.4 million, up 9.4% year on year, falling short of analyst expectations by 0.1%. It was a slower quarter for the company, with full-year revenue guidance missing analysts' expectations and management forecasting growth to slow.
Amplitude had the weakest performance against analyst estimates among its peers. The company added 252 customers to reach a total of 2,723. The stock is down 32.8% since the results and currently trades at $9.46.
Read our full, actionable report on Amplitude here, it's free.
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