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PLTR Stock Price and News – Palantir Technologies Inc.

The software company’s profits surpassed Wall Street expectations, but its sales exceeded expectations. Also exceeding expectations, Palantir gained more clients — but the price plummeted as government revenue growth fell short of expectations.

Following the publication of the study, RBC Capital analyst Rishi Jaluria cut Palantir’s shares to underperform from perform. A study by Jaluria stated that “government is the strongest component of Palantir’s business,” and that “although we expected a decline, the growth rate was practically cut in half from Q2 to Q3.”

Government agencies, who are the primary drivers of development, employ Palantir software for intelligence collection, counter-terrorism, and military objectives, amongst other applications. The Denver-based firm has set a goal of extending its commercial client base by entering new markets such as the health-care, energy, and industrial industries.

The company is also making a move into the digital bitcoin sector, for which it has just launched a new piece of software.

According to Chief Operating Officer Shyam Sankar, who spoke on the Q3 earnings call, “we are quite enthused about Foundry (software) for crypto.” “We believe that we will be a significant accelerator for cryptocurrency firms.”

PLTR Stock Price and News - Palantir Technologies Inc.

He went on to say: “We’re going to provide them with reliable AML (anti-money laundering) tools that will let them to compete on an equal footing and even go above and above with the legacy companies. We’re going to ensure (regulatory) compliance so they can concentrate on disrupting their business. They are also welcome to pay us in cryptocurrency, of course.”

The History of Palantir

Palantir was created in the early 2000s by Peter Thiel, co-founder of PayPal (PYPL), Nathan Gettings, Joe Lonsdale, Stephen Cohen, and Alex Karp, who were also co-founders of PayPal. The name of the corporation is drawn from the palantiri, which are crystal ball-like “seeing stones” that appear in The Lord of the Rings films.

Three platforms are available from the Colorado company; the Palantir Gotham, which is largely utilized by government agencies; Palantir Metropolis, which is used by banks, financial services organization’s, and hedge funds; and Palantir Foundry, which is used by corporate clients.

The announcement of a global alliance between Palantir and IBM (IBM) earlier this year was intended to accelerate business adoption of artificial intelligence technologies. Palantir made its Foundry software available to users of IBM’s cloud computing services as part of the agreement. The Foundry platform is a centralised data operating system that allows users to manage, filter, and view vast amounts of data in a single place.

PLTR Stock Price and News - Palantir Technologies Inc.

Fundamental Analysis of the PLTR Stock

Palantir has received a Composite Rating of 29 from IBD Stock Checkup. This unique rating provides investors with a simple approach to assess the major growth characteristics of a stock. Enterprise software company Palantir (DOCU) is a member of the 120-stock enterprise software group, which also includes DocuSign, Salesforce.com (CRM), Shopify (SHOP), and Zoom Video (ZOOM) (ZM).

A 61 Earnings Per Share Rating, which is a component of the total composite score, also falls short of expectations. After earning 9 cents a share last year, Palantir is anticipated to maintain profitability this year. Analysts anticipate earnings per share of 15 cents this year, followed by a 40 percent increase to 21 cents the following year.

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In a press release issued before the opening bell on Nov. 9, the firm announced Q3 adjusted earnings of 4 cents a share on revenue of $392 million for the period ended September 30. Analysts predicted that the company will earn 4 cents per share on revenue of $385 million.

The government’s revenue increased by 34% to $218 million over the same time the previous year, although it fell short of expectations by $235.9 million. Commercial revenue increased by 37% to $174 million, exceeding expectations of $148.6 million in sales.

Palantir reported that it gained 34 net new clients during the quarter, an increase from the previous quarter’s total of 20. It had 203 clients at the end of the third quarter, exceeding expectations of 180.

PLTR Stock Price and News - Palantir Technologies Inc.

Palantir expects sales of $418 million for the current quarter, which will finish in December, according to its prediction. According to FactSet, this is a significant increase over analysts’ expectations of $402 million in sales.

Palantir Gets Data Pact With Korean Shipbuilding Giant Hyundai Heavy Industries

LAS VEGAS—Palantir Technologies reached an agreement to provide its Foundry software analytics platform to the Korean industrial giant Hyundai Heavy Industries.

The Palantir (ticker: PLTR) deal with Hyundai Heavy was formally signed Tuesday at a meeting in Las Vegas, where the Korean company has a booth on the floor of the CES tech trade show, which officially opens for a three-day run starting Wednesday.

Technical Analysis of the PLTR Stock

The shares of PLTR has fallen over 60% from its high point on January 27. However, it has increased by more than 150 percent since Palantir’s initial listing on the New York Stock Exchange on September 30, 2020, at a price of $7.25 per share.

When corporations do a standard IPO, they issue new shares to the public after underwriting them. The sale of existing, outstanding shares is the only thing that can be accomplished by a direct listing because no underwriters are required.

It took only four weeks for Palantir stock to establish an initial public offering base, which it successfully completed at the end of last month. Following a 191 percent gain from the 11.52 buy price, the stock entered an eight-week consolidation period.. Before the stock began to decline, a later breakout resulted in a 34 percent gain from the 33.60 entry.

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With a Relative Strength Rating of 16, Palantir stock is in the bottom 84 percent of all stocks, according to the S and P 500 Index. This is also shown in the relative strength line, which compares a stock’s performance to that of the S&P 500.

PLTR Stock Price and News - Palantir Technologies Inc.

Because of its E Accumulation/Distribution Rating, it is more likely that mutual funds will sell their holdings than they will purchase.

699 mutual funds held Palantir shares as of September 30, up from 556 at the end of the previous month. Vanguard Growth Index Investor (VIGRX), Rydex Technology Fund (RYTIX), and American Beacon ARK Transformational Innovation Fund are among the funds that received an A+ rating from IBD (ADNPX).

Conclusion

Recent Initial Public Offering (IPO) Sales growth at Palantir has been in the double digits, and the company made its first annual profit last year. Currently, the software company is attempting to grow its commercial operations. A software package for the digital bitcoin market was just published by the company.

Following the release of its third-quarter earnings, Palantir’s shares dipped below its 50-day moving average, according to IBD MarketSmith chart analysis. At the end of September, it triggered the 7 percent -8 percent loss-cutting sell rule on a cup with handle purchased at a price of 26.04 per cup.

PLTR has been working on a fresh consolidation with a 29.39 buy point up to the 9th of November. It is now located below that entry, as well as below the 50-day and 200-day lines of the chart. Despite the fact that it has been trading closely recently, you would like to see a prior upswing before a good foundation can be formed.

As a result, it is not a purchase at this time. A Composite Rating of 29 and an EPS Rating of 61 are both lower than you’d expect to see with most growth stocks, as is the case with most growth stocks. However, if Palantir expands into new areas, it may be worthwhile to keep a watch on the company.

Don’t forget to keep an eye on the overall market as well. It is now in a verified uptrend, which suggests that investors may purchase leading stocks at appropriate buy points at the moment. For in-depth daily market analysis, visit The Big Picture website.

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