2024-02-12 11:37:15 ET
Summary
- Palantir Technologies Inc. recently reported fifth consecutive GAAP profitable quarter.
- In addition to remaining debt-free, the company's cash pile is helping it generate substantial interest income.
- Relatively slower growth in the Government sector is a concern to be tracked, as is the 12% increase in shares outstanding since June 2021.
- I am downgrading the stock to a Hold on the back of 200% gain in the last year.
Palantir Technologies Inc. (NYSE: PLTR ) reported its Q4 resul ts on February 4th as covered here by Seekin g Alpha. Non-GAAP EPS came in line, while revenue beat by $5.55 million, and the stock has gained more than 40% since the report. My mo st recent coverage from November 2nd on t his stock was after the company's Q3 report a quarter ago, where I applauded the company's Q3 and rated the stock a "Buy" but warned against chasing it. Since then, the stock has gained more than 35% compared to the market's 16.50% gain. A good call in hindsight? Perhaps. But the entire market has been on a nice run since then, so nothing much can be discerned....
Read the full article on Seeking Alpha
For further details see:
Palantir Q4: Fulfilling Promises But I Am Downgrading The Stock