The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Domo (NASDAQ:DOMO) and the rest of the data analytics stocks fared in Q1.
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 satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 1% while next quarter’s revenue guidance was in line.
Luckily, data analytics stocks have performed well with share prices up 24.1% on average since the latest earnings results.
Best 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 $80.11 million, flat year on year. This print exceeded analysts’ expectations by 3.1%. Overall, it was a very strong quarter for the company with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates.
“Our Q1 momentum is proof positive that our strategy is fueling powerful, innovative solutions for our customers,” said Josh James, founder and CEO, Domo.
Interestingly, the stock is up 90.6% since reporting and currently trades at $16.30.
Is now the time to buy Domo? Access our full analysis of the earnings results here, it’s free.
Samsara (NYSE:IOT)
One of the few public companies where famed investor Marc Andreessen is a Board member, Samsara (NYSE:IOT) provides software and hardware to track industrial equipment, assets, and fleets.
Samsara reported revenues of $366.9 million, up 30.7% year on year, outperforming analysts’ expectations by 4.4%. The business had a very strong quarter with EPS guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EBITDA estimates.
Samsara delivered the biggest analyst estimates beat among its peers. The company added 132 enterprise customers paying more than $100,000 annually to reach a total of 2,638. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 18.2% since reporting. It currently trades at $38.71.
Is now the time to buy Samsara? Access our full analysis of the earnings results here, it’s free.
Slowest Q1: 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 $111.1 million, down 3.6% year on year, falling short of analysts’ expectations by 4.6%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ billings estimates.
MicroStrategy delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 8% since the results and currently trades at $412.65.
Read our full analysis of MicroStrategy’s results here.
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 $79.41 million, up 6.3% year on year. This result was in line with analysts’ expectations. Taking a step back, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ EBITDA estimates but EBITDA guidance for next quarter missing analysts’ expectations significantly.
Health Catalyst had the weakest full-year guidance update among its peers. The stock is up 1.8% since reporting and currently trades at $4.05.
Read our full, actionable report on Health Catalyst here, 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 $79.95 million, up 10.1% year on year. This number met analysts’ expectations. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates.
The company added 26 enterprise customers paying more than $100,000 annually to reach a total of 617. The stock is up 38.1% since reporting and currently trades at $12.98.
Read our full, actionable report on Amplitude here, it’s free.
Market Update
As a result of the Fed’s rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed’s 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump’s victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025.
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