Stock Story -
Healthcare software provider Health Catalyst (NASDAQ:HCAT) will be announcing earnings results tomorrow after market close. Here's what to expect.
Health Catalyst met analysts' revenue expectations last quarter, reporting revenues of $74.72 million, up 1.2% year on year. It was a weaker quarter for the company, with full-year revenue guidance missing analysts' expectations.
Is Health Catalyst a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Health Catalyst's revenue to grow 2.5% year on year to $75.02 million, slowing from the 3.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Health Catalyst has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.
Looking at Health Catalyst's peers in the data and analytics software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Palantir (NYSE:PLTR) delivered year-on-year revenue growth of 27.2%, beating analysts' expectations by 3.9%, and Commvault Systems reported revenues up 13.4%, topping estimates by 4.2%. Commvault Systems traded up 24.1% following the results.
Read the full analysis of Palantir's and Commvault Systems's results on StockStory.
Growth stocks have seen elevated volatility as investors debate the Fed's monetary policy, and while some of the data and analytics software stocks have fared somewhat better, they have not been spared, with share prices down 6% on average over the last month. Health Catalyst's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $11.4 (compared to the current share price of $6.26).