What's Going On With Palantir Stock Ahead Of Earnings?
Portfolio Pulse from Erica Kollmann
Palantir Technologies Inc. (NYSE:PLTR) is set to release its Q4 and fiscal year 2023 financial results, with expectations of 8 cents per share and $602.4 million in revenue. The company announced partnerships with Coles Supermarkets Australia and Carahsoft Canada, aiming to expand its commercial and government solutions. Despite a 3% YTD decline, PLTR shares have gained over 85% in 2023. Analysts predict a significant downside with an average 1-year price target of $7.67, contrasting with the current price of $16.64.
February 02, 2024 | 6:35 pm
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NEGATIVE IMPACT
Palantir Technologies Inc. anticipates its Q4 and fiscal year 2023 results, with significant partnerships announced. Despite a strong performance in 2023, analysts predict a substantial price target downside.
The anticipation of Palantir's earnings report and recent partnerships highlight potential growth and expansion. However, the significant discrepancy between the current stock price and the analysts' average price target suggests a potential short-term downside risk, influenced by bearish analyst ratings and the substantial expected downside.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100