PLTR - Palantir Increased Its Guidance but Investors Are Selling. Is It Time to Buy the Stock?
2024-05-12 07:00:00 ET
Shares of Palantir Technologies (NYSE: PLTR) dropped 8% despite the company reporting solid first-quarter results and increasing its full-year guidance.
Let's look at the company's quarterly results, why the stock is falling, and whether this is a buying opportunity for long-term investors.
Palantir reported strong first-quarter results, with revenue growing 21% to $634 million. That marked its third consecutive quarter of accelerating revenue growth. Its revenue growth bottomed at 13% in the second quarter of 2023, before accelerating to 17% in Q3 and 20% in Q4 last year.
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Palantir Increased Its Guidance, but Investors Are Selling. Is It Time to Buy the Stock?