Palantir Technologies (PLTR) on Tuesday reported earnings and revenue for the December quarter that exceeded estimates as it closed several large trades. Palantir’s shares fell early in the day as the 2021 full-year revenue projection came slightly below expectations.
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Going to Palantir’s earnings report, the corporate software stocks were traded just below a buying zone.
For the fourth quarter, Palantir reported a loss of 8 cents per share, including share-based compensation, using Generally Accepted Accounting Principles, or GAAP, accounting rules.
Revenue rose 40% to $ 322 million, said the data analysis software provider for US government agencies. Analysts had projected an adjusted profit of 2 cents, excluding stock-based compensation, on revenue of $ 300.7 million.
Based in Denver, Colorado, Palantir said he had adjusted operating income in the fourth quarter of $ 104.1 million, excluding share-based compensation and other costs.
Palantir Stock: 2021 Revenue Outlook Light
For the current quarter ended in March, Palantir expects revenue growth of more than 45%. Analysts surveyed by Factset had projected revenue of $ 309.5 million in the first quarter, an increase of 35%.
For the year 2021, Palantir said it expects revenue growth of 30%, slowing down from 47% growth in 2020. In addition, analysts had modeled a revenue growth in 2021 of 31%, to $ 1.406 billion.
Palantir’s shares fell 4.8% to 30.38 at the beginning of trading on the stock exchange today.
A direct listing of Palantir’s shares was launched on September 30 at a price of 7.25 per share. The IPO restriction period expires around February 19, with 80% of the shares in circulation becoming free for trading.
Going to Palantir’s earnings report, the corporate software stock had a Relative Strength Rating of 95 out of 99 possible.
Palantir’s founders have super voting rights
In addition, government agencies use Palantir software for intelligence collection, counterterrorism and military purposes. In addition, the software maker plans to expand into the healthcare, energy and manufacturing sectors.
Meanwhile, Palantir’s shares belong to the IBD Leaderboard. Leaderboard is the list curated by IBD of the main actions that stand out in technical and fundamental metrics.
In addition, Palantir’s governance structure gives co-founders Peter Thiel, Alex Karp and Stephen Cohen long-term control of the company through super voting rights.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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