What's Going On With Palantir Technologies Stock Today?
Portfolio Pulse from Lekha Gupta
Palantir Technologies (NYSE:PLTR) shares are up after reporting Q1 financial results with a 21% revenue increase to $634 million, beating estimates. Adjusted EPS was $0.08, in line with expectations. Q2 revenue is forecasted slightly below street view, between $649 million and $653 million. Full-year 2024 revenue guidance was raised to $2.677 billion-$2.689 billion, with a significant focus on U.S. commercial revenue growth and AI Platform dominance. Analysts have raised price targets following these announcements.
May 14, 2024 | 5:44 pm
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Palantir Technologies reported a 21% increase in Q1 revenue, beating estimates, and adjusted EPS in line with expectations. The company provided slightly lower Q2 revenue forecasts but raised full-year 2024 revenue guidance and U.S. commercial revenue outlook. Analysts have responded positively by raising price targets.
The positive earnings report and raised guidance for 2024 indicate strong company performance and growth prospects, particularly in the U.S. commercial sector and AI platform development. This has led to a positive reaction from analysts, likely contributing to short-term stock price appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100