As the Q2 earnings season comes to a close, it’s time to take stock of 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 5 data analytics stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was in line.

The Fed cut its policy rate by 50bps (half a percent) in September 2024, the first in roughly four years. This marks the end of its most pointed inflation-busting campaign since the 1980s. While CPI (inflation) readings have been supportive lately, employment measures have bordered on worrisome. The markets will be assessing whether this rate cut's timing (and more potential ones in 2024 and 2025) is ideal for supporting the economy or a bit too late for a macro that has already cooled too much.

Luckily, data analytics stocks have performed well with share prices up 31.9% on average since the latest earnings results.

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 $78.41 million, down 1.6% year on year. This print exceeded analysts’ expectations by 2.4%. Despite the top-line beat, it was still a slower quarter for the company with a miss of analysts’ billings estimates.

“We've made great progress with ecosystem partnerships and consumption customers in Q2, and are already seeing these strategic initiatives deliver exciting new opportunities for Domo,” said Josh James, founder and CEO, Domo.

Domo delivered the slowest revenue growth of the whole group. Unsurprisingly, the stock is down 3.2% since reporting and currently trades at $7.46.

Read our full report on Domo here, it’s free.

Best Q2: Palantir (NYSE:PLTR)

Started by Peter Thiel after seeing US defence agencies struggle in the aftermath of the 2001 terrorist attacks, Palantir (NYSE:PLTR) offers software as a service platform that helps government agencies and large enterprises use data to make better decisions.

Palantir reported revenues of $678.1 million, up 27.2% year on year, outperforming analysts’ expectations by 3.9%. The business had a very strong quarter with an impressive beat of analysts’ billings estimates and optimistic revenue guidance for the next quarter.

Palantir pulled off the biggest analyst estimates beat and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 81.1% since reporting. It currently trades at $43.62.

Is now the time to buy Palantir? Access our full analysis of the earnings results here, it’s free.

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 $75.9 million, up 3.7% year on year, exceeding analysts’ expectations by 1.2%. Still, it was a slower quarter as it posted a decline in its gross margin.

Health Catalyst delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. Interestingly, the stock is up 42.7% since the results and currently trades at $7.85.

Read our full analysis of Health Catalyst’s results here.

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 $73.3 million, up 8.2% year on year. This number surpassed analysts’ expectations by 1.8%. Overall, it was a strong quarter as it also recorded an impressive beat of analysts’ billings estimates and a decent beat of analysts’ ARR (annual recurring revenue) estimates.

The company added 254 customers to reach a total of 3,224. The stock is up 7.2% since reporting and currently trades at $8.54.

Read our full, actionable report on Amplitude here, it’s free.

Samsara (NYSE:IOT)

One of the few public companies where Marc Andreessen is a Board member, Samsara (NYSE:IOT) provides software and hardware to track industrial equipment, assets, and fleets.

Samsara reported revenues of $300.2 million, up 36.9% year on year. This result topped analysts’ expectations by 3.7%. It was a strong quarter as it also put up an impressive beat of analysts’ billings estimates and a decent beat of analysts’ ARR (annual recurring revenue) estimates.

Samsara achieved the fastest revenue growth among its peers. The stock is up 31.6% since reporting and currently trades at $51.01.

Read our full, actionable report on Samsara here, it’s free.

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