Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at 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 6 data analytics stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 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 7.3% 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 $79.72 million, up 1.7% year on year. This print exceeded analysts’ expectations by 2.1%. Overall, it was a satisfactory quarter for the company with a solid beat of analysts’ EBITDA estimates.

"Our accelerating ACV, strong subscription RPO, and expanding partnerships are powering Domo’s growth engine,” said Josh James, founder and CEO, Domo.

Domo delivered the slowest revenue growth of the whole group. Unsurprisingly, the stock is down 14.6% since reporting and currently trades at $15.

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

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 $1.00 billion, up 48% year on year, outperforming analysts’ expectations by 6.8%. The business had a stunning quarter with an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates.

Palantir Technologies delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 14.2% since reporting. It currently trades at $183.52.

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

Weakest Q2: 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 $80.72 million, up 6.3% year on year, in line with analysts’ expectations. It was a slower quarter as it posted full-year revenue guidance missing analysts’ expectations and revenue guidance for next quarter missing analysts’ expectations significantly.

Health Catalyst delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. As expected, the stock is down 23% since the results and currently trades at $2.85.

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

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 $391.5 million, up 30.4% year on year. This print topped analysts’ expectations by 5.2%. It was an exceptional quarter as it also put up EPS guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EBITDA estimates.

Samsara delivered the highest full-year guidance raise among its peers. The company added 133 enterprise customers paying more than $100,000 annually to reach a total of 2,771. The stock is up 12.7% since reporting and currently trades at $40.40.

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

Amplitude (NASDAQ: AMPL)

Born from the realization that companies were flying blind when it came to understanding user behavior in their digital products, Amplitude (NASDAQ: AMPL) provides a digital analytics platform that helps businesses understand how people use their digital products to improve user experiences and drive revenue growth.

Amplitude reported revenues of $83.27 million, up 13.6% year on year. This result beat analysts’ expectations by 2.4%. Overall, it was a very strong quarter as it also produced accelerating customer growth and an impressive beat of analysts’ EBITDA estimates.

The company added 17 enterprise customers paying more than $100,000 annually to reach a total of 634. The stock is down 15.5% since reporting and currently trades at $10.33.

Read our full, actionable report on Amplitude 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.

Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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