As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the data analytics industry, including Amplitude (NASDAQ:AMPL) 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 6 data analytics stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 1.1% while next quarter’s revenue guidance was 0.9% above.
Thankfully, share prices of the companies have been resilient as they are up 6.5% on average since the latest earnings results.
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 $75.22 million, up 6.5% year on year. This print exceeded analysts’ expectations by 1.5%. Overall, it was a satisfactory quarter for the company with an impressive beat of analysts’ EBITDA estimates but a significant miss of analysts’ billings estimates.
"We are on the path to reaccelerating growth," said Spenser Skates, CEO and co-founder of Amplitude.
The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $10.60.
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Best Q3: 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 $322 million, up 35.6% year on year, outperforming analysts’ expectations by 3.7%. The business had a very strong quarter with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates.
Samsara delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The company added 170 enterprise customers paying more than $100,000 annually to reach a total of 2,303. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 19.9% since reporting. It currently trades at $44.22.
Weakest Q3: MicroStrategy (NASDAQ:MSTR)
Founded in 1989 with an initial contract with DuPoint, MicroStrategy (NASDAQ:MSTR) started as a data mining and business intelligence software platform, but in 2020, the company made waves by investing heavily in Bitcoin.MicroStrategy reported revenues of $116.1 million, down 10.3% year on year, falling short of analysts’ expectations by 4.4%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and billings estimates.
MicroStrategy delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 18.5% since the results and currently trades at $293.
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 $76.35 million, up 3.5% year on year. This print met analysts’ expectations. It was a strong quarter as it also put up EBITDA guidance for next quarter exceeding analysts’ expectations.
Health Catalyst had the weakest full-year guidance update among its peers. The stock is down 14.2% since reporting and currently trades at $7.07.
Palantir (NYSE:NASDAQ: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 $725.5 million, up 30% year on year. This result surpassed analysts’ expectations by 3.1%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ EBITDA estimates and revenue guidance for next quarter beating analysts’ expectations.
Palantir scored the highest full-year guidance raise among its peers. The stock is up 81.5% since reporting and currently trades at $75.22.
Market Update
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This content was originally published on Stock Story
