Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Palantir Technologies (NASDAQ: PLTR) 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 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 11% since the latest earnings results.

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 print exceeded analysts’ expectations by 8%. Overall, it was a stunning quarter for the company with a solid beat of analysts’ EBITDA estimates and revenue guidance for next quarter exceeding analysts’ expectations.

“114% - our Rule of 40 score! These results make undeniable the transformational impact of using AIP to compound AI leverage. Year-over-year growth in our U.S. business surged to 77%, and year-over-year growth in U.S. commercial climbed to 121%. We are yet again announcing the highest sequential quarterly revenue growth guide in our company’s history, representing 61% year-over-year growth,” said Alex C. Karp, Co-Founder and Chief Executive Officer of Palantir Technologies.

Palantir Technologies pulled off the fastest revenue growth but had the weakest full-year guidance update of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 14.4% since reporting and currently trades at $177.96.

Read why we think that Palantir Technologies is one of the best data analytics stocks, our full report is free.

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 scored 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 37.1% since reporting. It currently trades at $160.52.

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 2.9% since the results and currently trades at $2.82.

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

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 number was in line with analysts’ expectations. More broadly, it was a satisfactory quarter as it also produced 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 among its peers. The stock is down 25% since reporting and currently trades at $8.68.

Read our full, actionable report on Domo 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 $88.56 million, up 17.7% year on year. This print surpassed analysts’ expectations by 2.6%. Overall, it was a strong quarter as it also recorded a solid beat of analysts’ billings estimates and an impressive beat of analysts’ EBITDA estimates.

The company added 19 enterprise customers paying more than $100,000 annually to reach a total of 653. The stock is up 19.1% since reporting and currently trades at $11.49.

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.

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