These Analysts Raise Their Forecasts On Palantir Technologies After Q4 Results
Portfolio Pulse from Avi Kapoor
Palantir Technologies Inc (NYSE:PLTR) reported a 20% year-over-year increase in Q4 revenue to $608 million, surpassing the consensus estimate. Adjusted earnings were in line with expectations at 8 cents per share. The company provided Q1 and full-year 2024 revenue and income forecasts, slightly below some estimates. Following the report, analysts from Jefferies, Raymond James, and Citigroup raised their price targets on PLTR, with upgrades in ratings from Jefferies and Citigroup. Despite the positive analyst outlook, PLTR shares fell 1.8% to close at $16.72.
February 06, 2024 | 12:31 pm
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Palantir Technologies reported strong Q4 results with a 20% revenue increase and met earnings expectations. Analysts raised price targets, indicating a positive outlook, despite a slight miss on future revenue estimates and a 1.8% share price drop.
The positive adjustment in price targets by analysts from Jefferies, Raymond James, and Citigroup reflects a bullish outlook on PLTR, despite the short-term share price drop. The strong Q4 performance and the upgrades in ratings suggest potential for stock appreciation in the short term, although the slight miss on future revenue forecasts introduces some caution.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100