Palantir Technologies (PLTROn Tuesday, it reported above-estimated profits and returns for the December quarter as several large deals were closed. Palantir stock fell in early trade as its 2021 full-year revenue guidance came in just below expectations.
Heading into the Palantir earnings report, the corporation’s software stocks traded just below the buy zone.
For the fourth quarter, Palantir reported a loss of 8 cents per share, including stock-based compensation, using GAAP, or GAAP.
Revenue rose 40% to $ 322 million, the data analysis software provider for US government agencies said. Analysts expected a revised profit of 2 percent, excluding equity-based compensation, on revenue of $ 300.7 million.
Denver-based Palantir said its adjusted operating income for the fourth quarter was $ 104.1 million, excluding stock-based compensation and other costs.
Palantir Stock: 2021 revenue forecast light
For the current quarter ending in March, Palantier forecasts revenue growth of more than 45%. Analysts polled by FactSet expected first-quarter revenue to be $ 309.5 million, up 35%.
For the full year of 2021, Palantir said it expects revenue growth of 30%, slower than 2020 growth of 47%. Additionally, analysts have forecast 2021 revenue growth of 31% to $ 1.406 billion.
Palantir shares were down 6.3 percent to 29.90 in pre-market trading in New York Stock market today.
Palantir is moving away from multi-year contracts with advance payments to recurring annual revenues.
The direct listing of Palantir stock was launched on September 30th at a price of 7.25 a share. The IPO closing period ends around February 19, when 80% of the outstanding shares are free to trade.
When going to Palantir’s earnings report, you own Foundation A’s software stocks Relative strength rating Out of 95 out of 99 possible.
Palantir founders own excellent voting rights
Additionally, government agencies use the Palantir program for intelligence gathering, counterterrorism, and military purposes. The software maker also aims to expand into the healthcare, energy and manufacturing sectors.
In the fourth quarter, government revenue jumped 85% to $ 190 million, beating estimates of $ 164.6 million. However, commercial revenue increased only 4% to $ 132 million, beating estimates of $ 136.7 million.
Meanwhile, the Palantir stock belongs to IBD Leaderboard. Leaderboard is IBD’s curated list of leading stocks that feature both technical and fundamental metrics.
Moreover, Palantir’s corporate governance structure gives co-founders Peter Thiel, Alex Karp and Stephen Cohen long-term control over the company through supervoting rights.
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