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Palantir Technologies (PLTR) Is About to Report Next Week. Here Is What to Expect
Palantir Technologies (PLTR), a software company that specializes in big-data analytics, will release its Q4 financials on February 3. PLTR stock has soared over 405% over the past year, driven by the growing demand for its artificial intelligence platform (AIP). Further, PLTR’s inclusion in the Nasdaq-100 last month increased visibility among investors. Wall Street analysts expect the company to report earnings of $0.11 per share, representing a 37.5% increase year-over-year.
Meanwhile, revenues are expected to grow by 27% from the year-ago quarter to $775.9 million, according to data from the TipRanks Forecast page. Notably, Palantir missed EPS estimates only twice out of the last nine quarters.
Analysts’ Views on PLTR Ahead of Q4 Results
Ahead of PLTR’s Q4 results, analysts are split on the stock’s outlook. Among the bullish analysts, Daniel Ives of Wedbush kept a Buy rating on Palantir, citing its strong AI strategy and potential to compete with big tech firms like Oracle (ORCL) and Salesforce (CRM). Ives sees significant growth for Palantir’s AI Platform (AIP) in both commercial and federal markets, with untapped revenue potential. Additionally, he contends that the company’s deep ties with the U.S. government and rising federal AI investments position it well for future gains.
Meanwhile, Sanjit Singh of Morgan Stanley initiated coverage on PLTR with a Sell rating and a $60 price target on January 6. Singh believes that Palantir’s stock is overvalued due to AI-related hype. Despite some positive trends, he doesn’t expect significant earnings upgrades to support the price.
Options Traders Anticipate a Large Move
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry, the Options tool does this for you.
Indeed, it currently says that options traders are expecting a 14.60% move in either direction.
Is Palantir Technologies a Good Stock to Buy?
Turning to Wall Street, Palantir stock has a Hold consensus rating. Out of the 17 analysts covering the stock, two have a Buy recommendation, nine have a Hold, and six analysts recommend selling the stock. Furthermore, at $51.50, the average PLTR price target implies 36.59% downside potential.
Palantir Technologies (PLTR) Is About to Report Next Week. Here Is What to Expect
Palantir Technologies, a data analytics company known for its work with government agencies and large corporations, is set to report its second-quarter earnings next week. With the company’s stock price fluctuating in recent months, investors are eagerly awaiting the latest financial results to see how the company is performing.
Here are some key things to watch for in Palantir’s upcoming earnings report:
1. Revenue Growth: Analysts will be looking to see if Palantir can continue its impressive revenue growth. In the first quarter, the company reported a 49% increase in revenue, driven by strong demand for its software platforms.
2. Customer Expansion: Palantir’s success relies heavily on its ability to attract and retain customers. Investors will be paying close attention to any updates on new customer acquisitions and expansions within existing accounts.
3. Profitability: While Palantir has shown strong revenue growth, the company has struggled to turn a profit. Investors will be looking for any signs of improvement in the company’s bottom line.
4. Guidance: Palantir’s guidance for the rest of the year will also be closely watched. Any updates on the company’s outlook for growth and profitability could have a significant impact on the stock price.
Overall, analysts remain optimistic about Palantir’s long-term prospects, citing the company’s strong customer base and innovative technology. However, the stock remains volatile, and any surprises in the upcoming earnings report could lead to significant movements in the share price.
Investors should stay tuned for Palantir’s earnings report next week to get a better understanding of the company’s performance and future prospects.
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