PLTR Stock News: Here Is What Palantir's Earnings Results Really Mean!

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Hey, welcome back to YT Finance! This is the spot where I've got your back with all things business, so you don't have to stress. Today, we're diving deep into Palantir Technologies' latest earnings report. We'll break down what it means for their future and their stock price targets. But before we kick off, smash that like button and hit subscribe for more content like this. Alright, let's jump right in!

So, our first article is all about Palantir's rollercoaster ride in the stock market after their quarter one 2024 report. Remember when I told you their stock would pop and then dip? Yeah, I called it! But hey, I'm not always right, which is why I urge you to do your own research.

Now, for those not in the know, Palantir's all about big data and analytics, serving both businesses and government agencies. And their recent Q1 results? Pretty solid. But here's the kicker: all the hype around them inflated their stock price big time, trading at around 76 times their forward PE ratio. However, the hype might be overblown because their growth rate is only around 21% year over year.

But it's not all doom and gloom! Palantir's management upped their revenue guidance for 2024, which is a plus. However, analysts still expect the stock to stay low for a bit after the recent sell-off.

Let's get into the nitty-gritty of their recent report. They were projected to rake in around $617.6 million in revenue and 8 cents per share for Q1 2024. And guess what? They beat revenue estimates! Earnings per share? Met expectations. But investors were hoping for some AI-powered hypergrowth, which didn't quite happen.

Initially, their stock soared about 8% after the Q1 results, but then took a nosedive, now trading at around $22 per share. Personally, I think investors are overreacting a tad, but a pullback could be healthy. If it dips below $20, count me in for more shares!

Now, looking ahead, Palantir forecasts revenue between $2.68 to $2.69 billion for 2024. Analysts expect around $2.68 billion, but I think they'll beat that estimate. Plus, they're upping their adjusted operating income estimates, which is fantastic news for shareholders.

CEO Alex Karp is jazzed about the growing demand for their AI software, especially in the US. But there's a snag: they're struggling to sell overseas, especially in Europe where the economy's sluggish. But despite this, they're seeing a surge in US commercial customers and expect commercial sales to outpace government contracts soon.

Some analysts are bearish on Palantir's future, but I disagree. Their recent sales growth is promising, beating analyst estimates. For the current quarter, they expect even higher revenues and net income. So, I'm bullish on Palantir, and I think they crushed it this quarter!

CEO Karp is optimistic too, especially about AI in the US. And hey, Palantir's not shy about their political stance, supporting US allies like Israel.

0:00 Palantir Earnings Report and Stock Analysis
3:30 Revenue Forecasts and Financial Performance
7:23 Company Projections and CEO's Outlook
10:11 Investment Analysis and Personal Strategy on Palantir

SOURCES: https://seekingalpha.com/article/4689...

https://finance.yahoo.com/news/palant...

https://www.barrons.com/articles/pala...


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Disclosure: This video was done by myself, and it expresses my own opinions. This is not investment advice or financial advice and it should not be taken as investment advice or financial advice in any way shape or form. I am not receiving any form of compensation for this video from the company or organization that I am expressing opinions about. This video is for entertainment and or educational purposes only.