Palantir Technologies is set to report fourth-quarter results on Monday after market close. Analysts expect revenue growth, but remain skeptical about sustaining recent momentum. Over the past 12 months, shares have nearly quintupled in value.
Analysts track by Visible Alpha predict a consensus price target of $50, which is almost 40% below Palantir’s record-high close at $82.49 last Friday. Despite this, some analysts, including Wedbush, raised their price target to $90 and believe the company has a path to become the next Oracle or Salesforce.
However, Jefferies maintains an “underperform” rating with a target of $28, warning that signs of slowing growth could cause concern due to the high premium. Palantir is expected to report fourth-quarter revenue of nearly $775 million, up 27% year-over-year, and adjusted earnings of $273.79 million, or 11 cents per share.
The company had reported better-than-expected results in its previous quarter, raising its revenue guidance for the last quarter of the year. Nevertheless, analysts’ skepticism about sustaining momentum is reflected in their views on Palantir’s stock potential.
Source: https://www.investopedia.com/what-analysts-think-of-palantir-stock-ahead-of-earnings-8784087