Data analytics company Palantir Technologies (NASDAQ:PLTR) will be reporting results this Monday after market close. Here’s what to expect.
Palantir Technologies beat analysts’ revenue expectations last quarter, reporting revenues of $1.94 billion, up 92.8% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ billings estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Palantir Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Palantir Technologies’s revenue to grow 84.9% year on year, improving from the 62.8% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Palantir Technologies has a history of exceeding Wall Street’s expectations.
Looking at Palantir Technologies’s peers in the data and analytics software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Strategy’s revenues decreased 2.5% year on year, missing analysts’ expectations by 1.4%, and Commvault reported revenues up 13.1%, topping estimates by 0.7%. Strategy traded down 7.8% following the results while Commvault’s stock price was unchanged.
Read our full analysis of Strategy’s results here and Commvault’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 7.4% on average over the last month. Palantir Technologies is down 2.1% during the same time and is heading into earnings with an average analyst price target of $212.50 (compared to the current share price of $184.70).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.