Palantir: Be Fearful When Others Are Greedy (Rating Downgrade)
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Palantir's Q3'24 earnings surpassed expectations due to strong AI demand, resulting in a raised FY 2024 outlook and 30% Y/Y revenue growth. U.S. commercial revenues increased by 54% Y/Y, and U.S. government revenues rose by 40% Y/Y, indicating strong AI product adoption. The company also experienced a significant expansion in its free cash flow margin.
November 05, 2024 | 12:30 pm
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Palantir's Q3'24 earnings exceeded expectations, driven by strong AI demand, leading to a raised FY 2024 outlook and 30% Y/Y revenue growth. U.S. commercial and government revenues showed significant increases, reflecting robust AI product adoption.
Palantir's strong Q3'24 earnings and raised FY 2024 outlook indicate positive market sentiment. The significant growth in U.S. commercial and government revenues highlights successful AI product adoption, likely boosting investor confidence and short-term stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100