"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."
"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. However, the so-called smart money have been selling the stock in flurries lately, leaving Palantir's institutional ownership at just 53.76%. JPMorgan, for example, recently reduced its position in PLTR by more than 32%, while T. Rowe Price reduced its position by nearly 24%."
Palantir's shares have climbed dramatically year-to-date (nearly 142%) and soared 1,875.43% since its October 2022 IPO. Major government deals include a reported £1.5 billion U.K. defense agreement and a consolidated U.S. Army 10-year arrangement valued at $10 billion. Q2 revenues rose 48% year-over-year and topped $1 billion, with U.S. government revenues up 53% to $426 million; EPS beat at $0.16 versus $0.14 expected and full-year guidance was raised to $4.142–$4.150 billion. Institutional ownership has declined to 53.76% as some large investors trimmed positions. Forward P/E remains high at about 209.15.
Read at 24/7 Wall St.
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