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 Samsara (NYSE:IOT) 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 5 data analytics stocks we track reported a slower Q1; on average, revenues beat analyst consensus estimates by 1.4%. while next quarter's revenue guidance was in line with 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 held roughly steady amidst all this, with share prices up 2.5% on average since the previous earnings results.
Best Q1: Samsara (NYSE:IOT) One of the few public companies where Marc Andreessen is a Board member, Samsara (NYSE:IOT) provides software and hardware to track industrial equipment, assets, and fleets.
Samsara reported revenues of $280.7 million, up 37.4% year on year, exceeding analysts' expectations by 3.1%. Overall, it was a strong quarter for the company with a solid beat of analysts' billings estimates and a decent beat of analysts' ARR (annual recurring revenue) estimates.
Samsara pulled off the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise of the whole group. The stock is up 3.4% since reporting and currently trades at $36.
Is now the time to buy Samsara? Find out by reading the original article on StockStory, it's free. 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 performed better than its peers, but it was unfortunately an ok quarter for the company with a decent beat of analysts' billings estimates but its net revenue retention rate in jeopardy.
Although it had a great quarter compared its peers, the market seems unhappy with the results as the stock is down 12.9% since reporting. It currently trades at $8.08.
Weakest Q1: Domo (NASDAQ:DOMO)Founded by Josh James after selling his former business Omniture to Adobe (NASDAQ:ADBE), 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 posted the slowest revenue growth in the group. Interestingly, the stock is up 15% since the results and currently trades at $8.21.
Palantir (NYSE: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%. Taking a step back, it was a slower quarter for the company with a miss of analysts' billings estimates and a decline in its gross margin.
The stock is flat since reporting and currently trades at $25.28.
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, in line with analysts' expectations. Zooming out, it was a weaker quarter for the company with full-year revenue guidance missing analysts' expectations.
Health Catalyst had the weakest performance against analyst estimates and weakest full-year guidance update among its peers. The stock is up 6.6% since reporting and currently trades at $7.11.
This content was originally published on Stock Story
