As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the data analytics industry, including Health Catalyst (NASDAQ:HCAT) 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 13.5% since the latest earnings results.
Health Catalyst (NASDAQ:HCAT)
Built on its “Health Catalyst Flywheel” methodology that emphasizes measurable outcomes, Health Catalyst (NASDAQ:HCAT) provides data and analytics technology and services that help healthcare organizations manage their data and drive measurable clinical, financial, and operational improvements.
Health Catalyst reported revenues of $70.76 million, down 10.9% year on year. This print exceeded analysts’ expectations by 2.3%. Despite the top-line beat, it was still a slower quarter for the company with full-year EBITDA guidance missing analysts’ expectations and revenue guidance for next quarter missing analysts’ expectations significantly.
“We delivered solid first quarter results, with revenue and adjusted EBITDA exceeding expectations,” said Ben Albert, Chief Executive Officer of Health Catalyst.
Health Catalyst delivered the weakest guidance update, slowest revenue growth, and weakest full-year guidance update of the whole group. Interestingly, the stock is up 24.3% since reporting and currently trades at $1.72.
Read our full report on Health Catalyst 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 a solid beat of analysts’ billings estimates and an impressive beat of analysts’ EBITDA estimates.
Palantir Technologies pulled off 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 18.2% since reporting. It currently trades at $119.42.
