Palantir Stock Crashes After Earnings but It Could Still Soar 300%, According to a Wall Street Analyst
Palantir Technologies (NASDAQ: PLTR) stock had plunged 14% as of 10 a.m. ET on Tuesday, May 6, as investors reacted to its first-quarter financial results. The company reported solid results amid continued demand for its artificial intelligence (AI) platform, but the market clearly had higher expectations.Nevertheless, technology analyst Dan Ives at Wedbush Securities thinks Palantir stock will surge 300% over the next two or three years. Here's what investors should know.Palantir reported strong first-quarter financial results that exceeded estimates on the top line. Its customer count climbed 39% to 769 and the average existing customer spent 124% more. Revenue increased 39% to $884 million, the seventh consecutive acceleration, driven by strong momentum across the commercial and government segments. Meanwhile, non-GAAP (adjusted) earnings increased 62% to $0.13 per diluted share.Continue reading
Palantir Technologies (NASDAQ: PLTR) stock had plunged 14% as of 10 a.m. ET on Tuesday, May 6, as investors reacted to its first-quarter financial results. The company reported solid results amid continued demand for its artificial intelligence (AI) platform, but the market clearly had higher expectations.
Nevertheless, technology analyst Dan Ives at Wedbush Securities thinks Palantir stock will surge 300% over the next two or three years. Here's what investors should know.
Palantir reported strong first-quarter financial results that exceeded estimates on the top line. Its customer count climbed 39% to 769 and the average existing customer spent 124% more. Revenue increased 39% to $884 million, the seventh consecutive acceleration, driven by strong momentum across the commercial and government segments. Meanwhile, non-GAAP (adjusted) earnings increased 62% to $0.13 per diluted share.
