Palantir Technologies Inc (PLTR)

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Earnings Preview: Palantir Technologies Inc. (NYSE: PLTR)
By: 24/7 Wall St. | May 5, 2023

• Here is a look at three companies set to report results later on Monday.

Palantir

Over the past 12 months, shares of Palantir Technologies Inc. (NYSE: PLTR) have declined by nearly 33%, including a 15% gain so far in 2023. But year-over-year revenue growth has slowed from 47% in 2021 to $24% last year, and a company forecast of just 14% to 17% for this year. Are macro trends or more competitors the issue? Is it spending too much? Likely all three, and investors will be interested in Palantir’s success in dealing with those headwinds.

Of 17 analysts covering the stock, just three have Buy ratings, while nine have a Hold rating. At a share price of around $7.40, the implied upside to the median price target of $8.00 is 8.1%. At the high price target of $15.00, the potential upside is more than 100%.

The consensus first-quarter revenue estimate is $505.94 million, down 0.5% sequentially but 13.3% higher year over year. Adjusted EPS are forecast at $0.04, flat sequentially and up 50% year over year. For the full 2023 fiscal year, estimates call for EPS of $0.20, up 237.1%, on sales of $2.2 billion, up 15.6%.
The stock trades at 36.5 times expected 2023 EPS, 29.9 times estimated 2024 earnings of $0.25 and 24.0 times estimated 2025 earnings of $0.31 per share. Palantir stock’s 52-week range is $5.84 to $13.62, and the company does not pay a dividend. The total shareholder return for the past year is negative 32.79%.

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