2024-02-06 10:01:23 ET
Summary
- Palantir Technologies Inc. delivered a very solid earnings card for Q4 '23, causing shares to soar post-earnings.
- The earnings report showed strong top line momentum in U.S. commercial, impressive net account additions and soaring operating income.
- I believe demand for AI products could lead to accelerating top line growth for Palantir and pleasant surprises in FY 2024.
- Shares of Palantir are not cheap, but I am upgrading to buy due to a very favorable AI market outlook and soaring customer interest in large language models.
Shares of Palantir Technologies Inc. (PLTR) soared 19% yesterday after the software analytics company delivered an impressive earnings sheet for the fourth fiscal quarter that showed continual revenue momentum and soaring profitability. While Palantir met earnings expectations, the firm achieved its fifth straight quarter of GAAP profitability and benefits from surging AI demand for its artificial intelligence solutions. Palantir was also able to add a ton of new customers to its business, especially in U.S. commercial, which is a trend that shows growing product strength....
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Palantir Q4: Crushing It On All Major Metrics (Rating Upgrade)