Palantir Technologies’ PLTR stock surged +20% in Wednesday’s trading session, outperforming the market and drawing attention from Wall Street. The company reported strong Q4 results, with sales spiking 36% year-over-year to $827.52 million.
The AI platform’s demand is high, driving PLTR price to over $100, a gain of +500% in the last year. Palantir’s U.S. business is leading the AI revolution, according to the company. The Q4 sales exceeded estimates and showed sequential growth of 14%.
Palantir also demonstrated operational efficiency, generating $460 million in cash from operations and $517 million in adjusted free cash flow. This resulted in margins of 56% and 63%, respectively.
The full-year results showed a 29% increase in total sales to $2.87 billion and a significant rise in annual earnings to $0.41 per share. Palantir’s cash from operations was $1.15 billion, with adjusted free cash flow at $1.25 billion.
Looking ahead, Palantir provided positive revenue guidance for Q1 FY25, expecting sales between $858-$862 million, which is above the current Zacks Consensus of $797.85 million. The company’s full-year forecast is also optimistic, with sales growth expected to be 23%.
The strong Q4 report and guidance have led to a Zacks Rank #2 (Buy) for Palantir Technologies. Earnings estimate revisions are likely to trend higher in the coming weeks, and the company’s balance sheet is strengthening due to its growing cash pile.
Source: https://finance.yahoo.com/news/buy-surge-palantir-technologies-pltr-002400092.html