Healthcare data analytics company Health Catalyst (NASDAQ: HCAT) will be reporting earnings this Thursday after market close. Here’s what investors should know.
Health Catalyst beat analysts’ revenue expectations last quarter, reporting revenues of $70.49 million, down 12.7% year on year. It was a disappointing quarter for the company, with revenue and EBITDA 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 27.4% year on year, a deceleration from its flat revenue 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 Q3 results, giving us a hint as to what we can expect. Palantir Technologies delivered year-on-year revenue growth of 95.9%, beating analysts’ expectations by 5.9%, and Strategy reported a revenue decline of 2.5%, falling short of estimates by 1.4%. Palantir Technologies traded down 1.7% following the results while Strategy was also down 7.8%.
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 3.5% on average over the last month. Health Catalyst is down 18.5% during the same time and is heading into earnings with an average analyst price target of $1.77 (compared to the current share price of $1.44).
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