Palantir Technologies Inc (NYSE:PLTR) shares are trading higher Tuesday after the company reported better-than-expected financial results. Multiple analysts upgraded the stock and lifted price targets following the print.
What Happened: Palantir’s fourth-quarter revenue increased 20% year-over-year to $608 million, which beat the consensus estimate of $602.41 million, according to Benzinga Pro. The company reported quarterly adjusted earnings of 8 cents per share, which was in line with analyst estimates.
Commercial revenue grew 32% year-over-year, driven by a 70% year-over-year increase in U.S. commercial revenue. Government revenue climbed 11% year-over-year. Palantir's customer count grew 35% year-over-year ...