"Shares of Palantir Technologies Inc. (NASDAQ:PLTR) gained 6.06% over the past five trading sessions after gaining 2.88% the week prior. The stock's rally so far this year has seen PLTR gain 166.62% YTD. Over the past year, PLTR is up more than 384%, and since going public on Oct. 2, 2020, it has gained an eye-popping 2,079.02%. Today, all eyes will be on the company's earnings call."
"Earlier in September, the company announced a new defense partnership with the U.K. government valued at £1.5 billion. In late July, it was announced that Palantir secured a $10 billion software and data contract with the U.S. Army. In May, the Trump administration rewarded a federal contract worth hundreds of millions to Palantir with the objective of creating a database on every U.S. citizen."
"When the company reported Q2 earnings on Aug. 4, it announced better-than-expected results. Palantir beat on earnings and revenue, with EPS of 16 cents versus 14 cents expected, and revenue of $1 billion versus $940 expected. Revenue rose 48% YoY and crossed the $1 billion mark for the first time. As a result, Bank of America raised its price target to $180 from $150, and Deutsche Bank upgraded the stock to "Hold" from "Sell" with a price target of $160, up from $80."
Palantir Technologies has delivered extraordinary stock gains, rising 166.62% year-to-date, over 384% in the past year and more than 2,079% since its 2020 public debut. Recent catalysts include a £1.5 billion U.K. defense partnership, a reported $10 billion U.S. Army software and data contract, and federal work including a high‑value May contract to build a national citizen database. Q2 results topped estimates with EPS of $0.16 and revenue of $1 billion, up 48% year-over-year. Institutional responses included Bank of America raising its price target to $180 and Deutsche Bank upgrading its rating.
Read at 24/7 Wall St.
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