Earnings Alert: Palantir Set to Report Tomorrow
A Strong Track Record Ahead of Earnings
Data-mining and analytics company Palantir (NYSE:PLTR) is gearing up to announce its earnings results tomorrow after market close. With a history of exceeding expectations, investors are eager to see if the company can continue its upward trend.
Last Quarter’s Impressive Performance
Palantir’s previous quarter was a resounding success, with revenue beating analyst expectations by 3.9%. The company reported revenues of $678.1 million, a 27.2% year-over-year increase. Additionally, Palantir impressed with its billings and EBITDA estimates, making it a standout quarter for the company.
What to Expect This Quarter
This quarter, analysts predict Palantir’s revenue will grow 26.1% year on year to $703.7 million, an improvement from the 16.8% increase in the same quarter last year. Adjusted earnings are expected to come in at $0.09 per share. The majority of analysts covering the company have reaffirmed their estimates over the last 30 days, indicating they anticipate the business to stay on course heading into earnings.
A Look at Peers in the Industry
Some of Palantir’s peers in the data and analytics software segment have already reported their Q3 results, providing insight into what to expect. MicroStrategy’s revenues decreased 10.3% year on year, missing analysts’ expectations by 4.4%, while Commvault Systems reported revenues up 16.1%, exceeding estimates by 5.6%. The market reacted accordingly, with MicroStrategy trading down 1.1% and Commvault Systems surging 18.4%.
Positive Sentiment in the Industry
Investors have expressed optimism in the data and analytics software segment, with share prices rising 6.4% on average over the last month. Palantir has outperformed its peers, with a 7.8% increase during the same period. The company heads into earnings with an average analyst price target of $28.21, compared to its current share price of $41.91.
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