TECH - Wedbush's Dan Ives Smells 'Golden Buying Opportunity' In Palantir's Pullback After Q1 Earnings As He Lauds 'Jalen-Brunson-Like' Performance | Benzinga
Palantir Technologies, Inc. (NYSE:PLTR) shares tumbled in pre-market trading on Tuesday despite exceeding revenue expectations for the second quarter as investors reacted negatively to the company’s light guidance for the second quarter and the full year. Bullish analyst Daniel Ives of Wedbush weighed in on Palantir’s performance.
Top-line Beat: Overall, Palantir delivered another “Jalen Brunson-like” performance — referring to the New York Knicks point guard — with its AIP leading the way, said Ives in a note.
He noted that total revenue climbed 21% year-over-year to $634.3 million, exceeding the consensus estimate of $615.3 million and the guidance range of $612 million to $616 million.
The analyst attributes the top-line outperformance to the continued adoption of their Foundry platform (AIP) across both commercial and government sectors.
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