Data Analytics Q1 Earnings: Palantir Technologies (NASDAQ:PLTR) is the Best in the Biz
Looking back on data analytics stocks’ Q1 earnings, we examine this quarter’s best and worst performers, including Palantir Technologies (NASDAQ:PLTR) 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 7 data analytics stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 2.7% while next quarter’s revenue guidance was 2.6% above.
While some data analytics stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.7% since the latest earnings results.
Best Q1: Palantir Technologies (NASDAQ:PLTR)
Named after the all-seeing stones in “Lord of the Rings,” Palantir Technologies (NASDAQ:PLTR) develops software platforms that help government agencies and enterprises integrate, analyze, and operationalize their data for decision-making.
Palantir Technologies reported revenues of $1.63 billion, up 84.7% year on year. This print exceeded analysts’ expectations by 6.1%. Overall, it was a stunning quarter for the company with an impressive beat of analysts’ billings and EBITDA estimates.
Palantir Technologies scored the biggest analyst estimate beat, highest guidance raise, and fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 19.7% since reporting and currently trades at $117.33.
CLEAR Secure (NYSE:YOU)
Recognized by its signature blue lanes and biometric pods at airport checkpoints across America, CLEAR Secure (NYSE:YOU) provides biometric identity verification technology that allows subscribers to bypass regular security lines at airports and access secure experiences at various venues.
CLEAR Secure reported revenues of $253 million, up 19.7% year on year, outperforming analysts’ expectations by 3.5%. The business had an exceptional quarter with a solid beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations.
