Data Analytics Stocks Q1 Teardown: Domo (NASDAQ:DOMO) Vs The Rest
As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the data analytics industry, including Domo (NASDAQ:DOMO) 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 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 2.9% on average since the previous earnings results.
Weakest Q1: 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.
“We’re hyper-focused on returning to growth, and feel optimistic about early signals from our strategic initiatives such as partner collaborations, consumption momentum and multi-use case customers,” said Josh James, founder and CEO, Domo.
Domo delivered the slowest revenue growth of the whole group. The stock is down 1.4% since the results and currently trades at $7.04.
Read our full report on Domo 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 mixed quarter for the company, with a decent beat of analysts’ billings estimates. A minor negative was that its net revenue retention declined.
Amplitude delivered 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.
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.
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.
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, surpassing analysts’ expectations by 2.7%. It was a slower quarter for the company, with a miss of analysts’ billings estimates.
Palantir scored the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is down 16.5% since the results and currently trades at $21.04.
Read our full, actionable report on Palantir here, it’s free.
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