Palantir Technologies stock has increased by 6.43% over the last five trading sessions, contributing to a substantial 114.59% rise in the past six months. Since its IPO in October 2022, shares skyrocketed 1,515%. The forward P/E ratio of 239.86 may raise concerns, but federal contracts and aerospace connections are expected to drive growth. In Q1, revenue grew by 39% year-over-year, with U.S. commercial revenue exceeding $1 billion. Analyst Mizuho upgraded the stock to 'Neutral', noting significant revenue momentum. Despite high valuations, ongoing earnings growth is anticipated.
Palantir Technologies shares gained 6.43% over the past five trading sessions and have risen 114.59% in the last six months, with a dramatic 1,515% increase since its IPO.
In the first quarter, Palantir experienced year-over-year revenue growth of 39%, with its U.S. commercial business exceeding a $1 billion run rate, resulting in 71% year-over-year growth.
Mizuho upgraded Palantir to 'Neutral' with a target price of $135, citing the company's recent execution and momentum as 'stunning' with significant upward estimate revisions.
Despite concerns about its high forward P/E ratio of 239.86, analysts believe Palantir’s revenue growth will continue, with projected EPS growth from 8 cents in Q1 2024 to 13 cents in Q1 2025.
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