PLTR) Vs The Rest Of The Data Analytics Stocks
Let’s dig into the relative performance of Palantir (NYSE:PLTR) and its peers as we unravel the now-completed Q1 data analytics earnings season.
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 weaker Q1; on average, revenues beat analyst consensus estimates by 1%. while next quarter’s revenue guidance was 0.7% below consensus. Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 due to cooling inflation. The start of 2024 has been a different story as mixed signals have led to market volatility, and while some of the data analytics stocks have fared somewhat better than others, they collectively declined, with share prices falling 3.7% on average since the previous earnings results.
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 $634.3 million, up 20.8% year on year, topping analysts’ expectations by 2.7%. It was a slower quarter for the company, with a miss of analysts’ billings estimates.
Palantir achieved the biggest analyst estimates beat and fastest revenue growth of the whole group. The stock is down 16.5% since the results and currently trades at $21.04.
Is now the time to buy Palantir? Access our full analysis of the earnings results here, it’s free.
Best Q1: 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 $72.62 million, up 9.2% year on year, in line with analysts’ expectations. It was a good quarter for the company, with a decent beat of analysts’ billings estimates.
Amplitude pulled off the highest full-year guidance raise among its peers. The company added 247 customers to reach a total of 2,970. The stock is up 5.6% since the results and currently trades at $9.8.
Is now the time to buy Amplitude? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: 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 $74.72 million, up 1.2% year on year, falling short of analysts’ expectations by 0.1%. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter and full-year revenue guidance missing analysts’ expectations.
Health Catalyst had the weakest performance against analyst estimates and weakest full-year guidance update in the group. The stock is down 2.4% since the results and currently trades at $6.51.
Read our full analysis of Health Catalyst’s results here.
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 $80.1 million, flat year on year, in line with analysts’ expectations. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts’ billings estimates.
Domo had the slowest revenue growth among its peers. The stock is down 1.4% since the results and currently trades at $7.04.
Read our full, actionable report on Domo here, it’s free.
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