Government Revenue May Drive The Next Double-Digit Run: Maintaining Palantir At Buy
Portfolio Pulse from
Palantir Technologies Inc. has experienced a significant stock surge of approximately 39% following strong Q3 2024 earnings and updated full-year guidance. The company's U.S. commercial revenue grew by 54% year-over-year, and U.S. government revenue saw its strongest growth in 15 quarters, largely due to increased Department of Defense business. Despite a high valuation, Palantir's strong financials, new contracts, and continued momentum suggest further upside potential.
November 06, 2024 | 6:15 pm
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Palantir Technologies Inc. has seen a 39% increase in stock price due to strong Q3 2024 earnings and guidance. U.S. commercial revenue grew 54% YoY, and U.S. government revenue had its best growth in 15 quarters, driven by DoD contracts.
Palantir's stock price has surged due to impressive Q3 earnings and guidance, with significant growth in U.S. commercial and government revenues. The strong performance, particularly in DoD contracts, suggests continued positive momentum, justifying a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100