'Undiscovered Gem' Palantir To Report Solid Quarter, Says Analyst Ahead Of Q1 Results: 'On The Golden Path Of Its Monetization Story'
Portfolio Pulse from Shanthi Rexaline
'Undiscovered Gem' Palantir Technologies, Inc. (NYSE:PLTR) is anticipated to report a solid quarter ahead of its Q1 results, with a bullish analyst maintaining an Outperform rating and a $35 price target. The company is expected to report earnings of 8 cents per share on revenue of $625.33 million, up from last year's earnings of 5 cents per share and revenue of $525.19 million. Analyst Daniel Ives from Wedbush predicts strong performance, particularly from the U.S. commercial segment, and highlights Palantir's potential to capitalize on the AI revolution and commercial spending tailwinds. Ives also expects Palantir to gain a significant share of the $1 trillion global AI market, with the U.S. commercial business projected to grow by at least 40% in 2024.
May 06, 2024 | 12:35 pm
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Palantir Technologies, Inc. is expected to report strong Q1 earnings, with significant growth from the U.S. commercial segment and potential market share gains in the AI sector. Analyst Daniel Ives maintains an Outperform rating and a $35 price target.
The positive outlook from analysts, especially the expected growth in the U.S. commercial segment and the potential for significant market share gains in the AI sector, suggests a strong short-term impact on PLTR's stock price. The anticipation of solid quarterly results and the Outperform rating with a $35 price target further support a bullish short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100