As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the data analytics industry, including Domo (NASDAQ:DOMO) 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.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.7% since the latest earnings results.
Weakest Q1: Domo (NASDAQ:DOMO)
Named for the Japanese word meaning “thank you very much,” Domo (NASDAQ:DOMO) provides a cloud-based business intelligence platform that connects people with real-time data and insights across organizations.
Domo reported revenues of $79.4 million, flat year on year. This print fell short of analysts’ expectations by 0.6%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ billings estimates.
“One thing that has become clear is that we are still in the early innings of a major shift from AI experimentation to AI embedded in everyday work,” said Josh James, founder and CEO of Domo.
Domo delivered the weakest performance against analyst estimates of the whole group. The market seems disappointed with the results as the stock is down 2.1% since reporting and currently trades at $2.90.
Read our full report on Domo here, it’s free.
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, outperforming analysts’ expectations by 6.1%. The business had a stunning quarter with an impressive beat of analysts’ billings and EBITDA estimates.
Palantir Technologies achieved the biggest analyst estimate beat, highest guidance raise, and fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 20.1% since reporting. It currently trades at $116.73.
Is now the time to buy Palantir Technologies? Access our full analysis of the earnings results here, it’s free.
