Healthcare data analytics company Health Catalyst (NASDAQ:HCAT) will be reporting earnings this Thursday after the bell. Here’s what to expect.
Health Catalyst beat analysts’ revenue expectations last quarter, reporting revenues of $70.76 million, down 10.9% year on year. It was a slower quarter for the company, with revenue guidance for next quarter missing analysts’ expectations significantly.
Is Health Catalyst a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Health Catalyst’s revenue to decline 14.6% year on year, a reversal from the 6.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Health Catalyst has a history of exceeding Wall Street’s expectations.
Looking at Health Catalyst’s peers in the data and analytics software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 92.8%, beating analysts’ expectations by 6.7%, and Strategy reported revenues up 6.9%, in line with consensus estimates. Palantir Technologies traded up 28.7% following the results while Strategy was down 4.4%.
Read our full analysis of Palantir Technologies’s results here and Strategy’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 9.6% on average over the last month. Health Catalyst’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $2.31 (compared to the current share price of $2.28).
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