Data Analytics Stocks Q3 Highlights: Domo (NASDAQ:DOMO)

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at data analytics stocks, starting with Domo (NASDAQ:DOMO).

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 6 data analytics stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.3% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 12.1% since the latest earnings results.

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 was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with EPS guidance for next quarter exceeding analysts’ expectations but a significant miss of analysts’ billings estimates.

Domo pulled off the highest full-year guidance raise but had the weakest performance against analyst estimates and weakest performance against analyst estimates of the whole group. Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 35.3% since reporting and currently trades at $8.70.

Is now the time to buy Domo? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Strategy (NASDAQ:MSTR)

Once a traditional business intelligence software provider, Strategy (NASDAQ:MSTR) develops AI-powered enterprise analytics software while also functioning as a major corporate holder of Bitcoin cryptocurrency.

Strategy reported revenues of $128.7 million, up 10.9% year on year, outperforming analysts’ expectations by 9.1%. The business had a stunning quarter with an impressive beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.

Strategy pulled off the biggest analyst estimates beat among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 35.3% since reporting. It currently trades at $165.09.

Is now the time to buy Strategy? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: 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 $76.32 million, flat year on year, exceeding analysts’ expectations by 1.7%. Still, it was a slower quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and EBITDA guidance for next quarter missing analysts’ expectations significantly.

As expected, the stock is down 18.8% since the results and currently trades at $2.36.

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

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 $1.18 billion, up 62.8% year on year. This result beat analysts’ expectations by 8%. Overall, it was a stunning quarter as it also produced a solid beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations.

Palantir Technologies delivered the fastest revenue growth but had the weakest full-year guidance update among its peers. The stock is down 6.8% since reporting and currently trades at $193.74.

Read our full, actionable report on Palantir Technologies here, it’s free for active Edge members.

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 $416 million, up 29.2% year on year. This print topped analysts’ expectations by 4.1%. It was a very strong quarter as it also logged a solid beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.

The company added 219 enterprise customers paying more than $100,000 annually to reach a total of 2,990. The stock is down 5.9% since reporting and currently trades at $38.32.

Read our full, actionable report on Samsara here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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