"Shares of Palantir Technologies (NASDAQ:PLTR) gained 3.54% over the past five trading sessions after gaining 1.59% the five prior. This year, the stock is up more than 158%, and since its October 2022 IPO, PLTR has surged an eye-catching 2,010.11%. 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."
"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 56.44%."
Palantir Technologies has delivered rapid stock gains, rising over 158% year-to-date and 2,010.11% since its October 2022 IPO. Q3 results showed EPS of 21 cents versus 17 cents expected and revenue of $1.18 billion versus $1.09 billion expected, accompanied by strong guidance tied to adoption of its AI software platform. Government sales increased 52% year-over-year. Major contracts include a £1.5 billion U.K. defense deal and a reported consolidation of U.S. Army contracts into a single 10-year, $10 billion arrangement. Institutional ownership has fallen to 56.44% amid notable position reductions, while the forward P/E of 192.14 raises valuation concerns alongside expectations of future earnings growth.
Read at 24/7 Wall St.
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