"So far this year, the stock is up more than 143%, and since its October 2022 IPO, PLTR has surged an eye-catching 1,890%. In September, it was reported that the company agreed to a £1.5 billion defense deal with the U.K. That comes not he back of an announcement in early August that the U.S. Army is consolidating 75 contracts into a single 10-year arrangement with Palantir valued at $10 billion."
"When the company reported Q2 earnings on Aug. 4, it announced that revenues saw year-over-year growth of 48% and topped $1 billion in quarterly revenue for the first time ever, while U.S. government revenues rose 53% from the year-ago period to $426 million. Palantir beat on earnings with 16 cents per share versus Wall Street's expectations of 14 cents per share. The company also upped its full-year guidance, forecasting revenues between $4.142 billion and $4.150 billion, up from its previous forecast of $3.89 billion to $3.90 billion."
Palantir shares have rallied sharply, rising more than 143% year-to-date and 1,890% since the October 2022 IPO. Major government deals include a reported £1.5 billion U.K. defense agreement and a U.S. Army consolidation of 75 contracts into a single 10-year, $10 billion arrangement. Institutional ownership has declined to 54.07% as firms such as JPMorgan and T. Rowe Price reduced holdings. Q2 revenue grew 48% year-over-year, topping $1 billion, with U.S. government revenue up 53% to $426 million and earnings of $0.16 per share. Full-year revenue guidance was raised to $4.142–$4.150 billion. Forward P/E sits at 208.33, reflecting high valuation despite robust growth trends.
Read at 24/7 Wall St.
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