Palantir (PLTR) Just Had a Monster Quarter. Can the Stock Keep Climbing?

TLDR

• Palantir stock rose 4.7% to $179.01 after reporting quarterly revenue of $1.94 billion, up 92.8% year over year
• Adjusted EPS of $0.41 beat the $0.34 consensus estimate by $0.07; the company also raised its full-year outlook
• Analysts hold a “Moderate Buy” consensus with an average price target of $192.19
• Institutional investors including Norges Bank, State Street, and Cache Advisors have been adding to their positions
• Valuation concerns persist with PLTR trading at 153 times earnings, and insiders have sold over $156 million in stock in the last 90 days

Palantir Technologies (PLTR) jumped 4.7% on Thursday, hitting $179.01, after the company posted one of its strongest quarterly results on record.

Palantir Technologies Inc., PLTR

Revenue came in at $1.94 billion for the quarter, up 92.8% year over year and well ahead of the $1.81 billion analyst estimate. Adjusted EPS of $0.41 beat the consensus of $0.34 by $0.07. A year ago, the company posted EPS of just $0.16.

Management also raised its full-year guidance, giving investors another reason to push the stock higher.

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