PLTR - Should You Buy Palantir Stock After Its Post-Earnings Sell-off?
2024-05-15 07:00:00 ET
Palantir Technologies (NYSE: PLTR) stock fell sharply last week after the company released its latest earnings numbers. The company generated solid, double-digit growth and it even posted a profit for the sixth consecutive quarter. But despite the positives, investors still wanted more from the business. Is the market being a bit harsh on the data analytics company, and does the sell-off make Palantir a good stock to buy right now?
An important measuring stick for any growth stock is how well it does versus analyst expectations. It's not just whether the business is improving, it's whether it's doing so in line with what Wall Street is expecting, as those expectations would technically be priced into the stock's valuation. A beat, however, would suggest the business is doing better. And normally, that's enough to drum up some bullishness.
For the first quarter, which ended on March 31, Palantir didn't disappoint on its top and bottom lines. Revenue of $634 million came in higher than expectations of $625 million. And adjusted earnings per share of $0.08 matched up with Wall Street's projections as well.
For further details see:
Should You Buy Palantir Stock After Its Post-Earnings Sell-off?