"When the company reported Q3 earnings on Nov. 3, it beat on the top and bottom lines with EPS of 21 cents versus 17 cents expected, and revenue of $1.18 billion versus $1.09 billion expected. Palantir issued strong guidance, attributing growth to adoption of its AI software platform. Meanwhile, it announced that government sales - which have been essential to Palantir's rise - grew 52% from the same quarter a year ago."
"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 54.69%."
Palantir's stock lost 12.16% over the past five trading sessions after gaining 1.04% the five prior. Year-to-date performance exceeds 122%, and since its October 2022 IPO the stock has risen 1,718.80%. Q3 results on Nov. 3 beat expectations with EPS of $0.21 versus $0.17 and revenue of $1.18 billion versus $1.09 billion, and guidance credited AI software adoption. Government sales grew 52% year-over-year. Reported deals include a £1.5 billion U.K. defense contract and a potential $10 billion, 10-year U.S. Army consolidation. Institutional ownership has fallen to 54.69% amid recent selling. Forward P/E sits at 172.28, signaling valuation concerns while analysts expect continued earnings growth.
Read at 24/7 Wall St.
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