What's Going On With Palantir Stock Today?
Portfolio Pulse from Erica Kollmann
Palantir Technologies (NYSE:PLTR) reported lower-than-expected Q2 revenue of $533.32 million, causing its shares to trade lower. However, the company raised its full-year revenue guidance to over $2.212 billion and announced a $1 billion share repurchase program. Several analysts updated their ratings and price targets for PLTR, with most maintaining or raising their targets.
August 08, 2023 | 3:21 pm
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NEGATIVE IMPACT
Palantir's lower-than-expected Q2 revenue led to a drop in its stock price. However, the raised full-year guidance and share repurchase program may provide some support.
The lower-than-expected Q2 revenue is a negative signal that led to the stock price drop. However, the raised full-year guidance and share repurchase program are positive signals that may limit the downside. The mixed analyst ratings also add uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100