Palantir Stock Is Moving Higher Tuesday: What's Going On?
Portfolio Pulse from Adam Eckert
Palantir Technologies Inc (NYSE:PLTR) shares are trading higher after reporting better-than-expected Q2 financial results and raising its guidance. The company saw significant growth in both commercial and government revenue, driven by strong demand for AI systems. Analysts have mixed views, with Deutsche Bank maintaining a Sell rating but raising the price target, while Wedbush called it a 'game changer' quarter.
August 06, 2024 | 1:10 pm
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Palantir reported better-than-expected Q2 results with revenue of $678.13 million and EPS of 9 cents. The company raised its full-year 2024 outlook and expects strong growth driven by AI demand.
Palantir's strong Q2 performance and raised guidance indicate robust growth, particularly in AI-driven commercial and government sectors. This positive outlook is likely to drive short-term stock price appreciation.
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