The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how C3.ai (NYSE:AI) and the rest of the data infrastructure stocks fared in Q1.
Generating insights from system level data is an increasing priority for most businesses, but to do so requires connecting and analyzing piles of data stored and siloed in separate databases. This is the demand driver for cloud based data infrastructure software providers, who can more readily integrate, distribute and process information vs. legacy on-premise software providers.
The 4 data infrastructure stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 0.8% while next quarter’s revenue guidance was 0.9% below.
Thankfully, share prices of the companies have been resilient as they are up 6.3% on average since the latest earnings results.
Founded in 2009 by enterprise software veteran Tom Seibel, C3.ai (NYSE:AI) provides software that makes it easy for organizations to add artificial intelligence technology to their applications.
C3.ai reported revenues of $108.7 million, up 25.6% year on year. This print exceeded analysts’ expectations by 0.8%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ EBITDA estimates and a narrow beat of analysts’ billings estimates.
C3.ai pulled off the fastest revenue growth and highest full-year guidance raise of the whole group. Unsurprisingly, the stock is up 24.3% since reporting and currently trades at $28.65.
Is now the time to buy C3.ai? Access our full analysis of the earnings results here, it’s free.
Started by Shay Banon as a search engine for his wife’s growing list of recipes at Le Cordon Bleu cooking school in Paris, Elastic (NYSE:ESTC) helps companies integrate search into their products and monitor their cloud infrastructure.
Elastic reported revenues of $388.4 million, up 16% year on year, outperforming analysts’ expectations by 2.1%. The business had a strong quarter with accelerating customer growth and a solid beat of analysts’ EBITDA estimates.
Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 5.4% since reporting. It currently trades at $87.
Is now the time to buy Elastic? Access our full analysis of the earnings results here, it’s free.
Part of point-of-sale and ATM company NCR from 1991 to 2007, Teradata (NYSE:TDC) offers a software-as-service platform that helps organizations manage and analyze their data across multiple storages.
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