Wedbush's Dan Ives Smells 'Golden Buying Opportunity' In Palantir's Pullback After Q1 Earnings As He Lauds 'Jalen-Brunson-Like' Performance
Portfolio Pulse from Shanthi Rexaline
Palantir Technologies, Inc. (NYSE:PLTR) exceeded Q2 revenue expectations with a 21% year-over-year increase to $634.3 million, driven by strong adoption of its Foundry platform across commercial and government sectors. Despite this, shares fell in pre-market trading due to light guidance for Q2 and the full year. Analyst Daniel Ives of Wedbush sees the pullback as a 'golden buying opportunity', praising the company's performance and increased 2024 revenue and operating income guidance.
May 07, 2024 | 12:35 pm
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Palantir Technologies exceeded Q2 revenue expectations and raised its 2024 guidance, yet shares fell due to light future guidance. Analyst Daniel Ives views the pullback as a buying opportunity.
Despite the pre-market share price drop, the strong revenue performance and positive analyst outlook from Wedbush suggest a potential rebound. The increased 2024 revenue and operating income guidance indicate confidence in sustained growth, making the current pullback potentially attractive to investors.
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IMPORTANCE 90
RELEVANCE 100