PLTR - Palantir: Strike While The Iron Is Hot (Rating Upgrade)

2024-05-08 03:24:43 ET

Summary

• Palantir reported better than expected revenue results for Q1, as well as a sixth consecutive GAAP profit. Nonetheless, shares dropped 15% on Tuesday, creating an engagement opportunity.
• The company's revenues and customer base are growing, particularly in its commercial division.
• Investors likely overreacted to the company's Q2'24 revenue forecast.
• PLTR's business trends and metrics are positive, making it an attractive AI investment opportunity.

Palantir Technologies ( PLTR ) reported better than expected revenues for its first fiscal quarter on Tuesday that resulted in a sixth straight GAAP profit as well. The company's forecast for Q2’24 revenues came in below what analysts expected, resulting in a 15% price correction after earnings. However, Palantir’s earnings and revenues are growing, and the company continued to add a ton of new customers in its commercial business in the first-quarter. Palantir’s business trends and metrics are all developing in the right direction and given the long-term potential of artificial intelligence solutions in the software market, I believe Palantir is a highly attractive investment choice for investors!...

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