Spotting Winners: Samsara (NYSE:IOT) And Data Analytics Stocks In Q2
Looking back on data analytics stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Samsara (NYSE:IOT) 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 mixed Q2. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was 1.3% above.
Thankfully, share prices of the companies have been resilient as they are up 9.6% on average since the latest earnings results.
Samsara (NYSE:IOT)
From sensors on vehicles to AI-powered cameras that help prevent accidents, Samsara (NYSE:IOT) is a cloud-based Internet of Things platform that helps businesses improve the safety, efficiency, and sustainability of their physical operations.
Samsara reported revenues of $508.4 million, up 29.9% year on year. This print exceeded analysts’ expectations by 5.2%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ adjusted operating income estimates and full-year EPS guidance exceeding analysts’ expectations.
Interestingly, the stock is up 3% since reporting and currently trades at $39.91.
Read why we think that Samsara is one of the best data analytics stocks, our full report is free.
Best Q2: 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 $1.94 billion, up 92.8% year on year, outperforming analysts’ expectations by 6.7%. The business had a stunning quarter with a solid beat of analysts’ billings estimates and an impressive beat of analysts’ adjusted operating income estimates.
Palantir Technologies scored the biggest analyst estimate beat, highest guidance raise, and fastest revenue growth of the whole group. The market seems happy with the results as the stock is up 39.4% since reporting. It currently trades at $175.19.
Is now the time to buy Palantir Technologies? Access our full analysis of the earnings results here, it’s free.
Slowest Q2: 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.
