"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 56.42%. JPMorgan, for example, recently reduced its position in PLTR by more than 32%,"
Palantir’s shares have climbed dramatically this year and since its October 2022 IPO, despite a 7.61% decline from the November 3 peak. Q3 reported EPS of $0.21 versus $0.17 expected and revenue of $1.18 billion versus $1.09 billion expected, with management citing AI software platform adoption as a growth driver. Government sales rose 52% year-over-year. The company secured a £1.5 billion U.K. defense deal and a consolidated U.S. Army agreement valued at $10 billion over ten years. Institutional ownership has fallen to 56.42% as major firms trimmed positions. The stock trades at a forward P/E near 166.78, implying a long payback if earnings stagnate, while analysts assume continued earnings growth.
Read at 24/7 Wall St.
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