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+10.31%
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+26.54%
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Palantir published its results for the second quarter of the year, in which it met analysts' forecasts. The company recorded revenues of 533 million dollars and a profit of 5 cents per share. In terms of revenue, this is a growth of 13% compared to the corresponding quarter and the bottom line is that the company registered a loss of $179 million in the corresponding quarter, while in the current quarter it is a profit of $28 million.
In terms of future prospects, Palantir expects revenues for the next quarter to be in the range of $553-557 million, above analysts' expectations for revenues of $552 million next quarter. For the entire year, the company expects revenues of $2.21 billion, in accordance with analysts' forecasts. The company deals in intelligence software, mining and information analysis, all of these by using artificial intelligence tools.
In addition to publishing the results, the company announced for the first time the approval of a buyback program of the company's shares in the amount of one billion dollars. The company's cash flow in the last quarter was $96 million and the adjusted EBITDA was $143 million.
The stock is down about 18% since the beginning of the month. The company is now trading at a forward earnings multiple of 79 and a revenue multiple of 16 - the stock is very expensive and investors want in return to see much greater and significant growth. The company's stock has soared 160% since the beginning of the year on the back of artificial intelligence hype, which investors now realize was overblown.
The company's CEO Alex Karp said that the company anticipates unprecedented demand for its new artificial intelligence platform. Karp said in the company's conference call that despite the huge demand for the company's product, the competition in the field is increasing and it will require Palantir to invest a lot of effort to be the one to lead it.
In response to the report, Morgan Stanley announced that Palantir's growth is now facing a challenge. The analysts at the investment bank wrote that "the results reflect a business that is under pressure in several areas, which showed a growth of only 10% compared to the corresponding quarter." The analysts gave the stock an "equal weight" rating with a target price of only $8 - about 50% below the current price.
Please note that the article should not be considered as investment advice or marketing, and it does not take into account the personal data and requirements of any individual. It is not a substitute for the reader's own judgment, and it should not be considered as advice or recommendation for buying or selling any securities or financial products.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
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Disclaimer:
The Score performance whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained.
The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. The Readiness Indicators, Sentiment Indicators and total score are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. Active trading is generally not appropriate for someone of limited resources, limited invesment or trading experience, or low-risk tolerance. Your capital may be at risk.
Please note that no offer or solicitation to buy or sell securities, securities derivatives of future products of any kind, or any type of trading or invesment advise, recommendation or strategy, is made, given or endorsed by StocksRunner including any of their affiliates ("TS").
This information is provided for illustrative purposes only. You should not rely on any advice and/or information contained in this website and before making any investment decision. we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.
