"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%."
"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."
Palantir's stock has rallied massively since its October 2022 IPO, rising about 1,887.34% overall and more than 143% year-to-date. Recent trading showed small declines across two consecutive five-session periods. The company secured a £1.5 billion U.K. defense deal and a consolidated 10-year U.S. Army arrangement valued at $10 billion. Q2 revenue grew 48% year-over-year, surpassing $1 billion for the first time, with U.S. government revenue up 53% to $426 million, and EPS beat at $0.16 versus $0.14 expected. Institutional ownership has dropped to about 53.76% as major investors trimmed positions. The forward P/E sits around 211.67, implying a prolonged payback period.
Read at 24/7 Wall St.
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