Thu. Jan 27th, 2022

  • Palantir shares rose 11% on Thursday to $ 24.89.
  • PLTR appeared on the back of the earnings reports.
  • Shares add a small gain on Friday.

Update: Palantir shares rose just under half a percent on Friday after seeing a rise in interest on Thursday. The company reported strong gains with very strong revenue and new customer data and Palantir shares rose 11% on the day. On Friday, a more modest move is evident, but a consolidation after such a strong move is perfect for establishing and expecting more gains.

Palantir shares rose 11% on Thursday, as the company reported a strong set of results before the market opened. Earnings per share (EPS) was $ 0.04, just ahead of the $ 0.03 estimate. Revenue reached $ 376 million, also ahead of estimates of $ 353 million. Revenue rose nearly 50% in the quarter. Palantir also raised its third-quarter revenue targeting to $ 385 million, exceeding analysts ’estimates by $ 376.4 million. Palantir raised its estimate for the adjusted cash flow guide for the full year 2021 to $ 300 million more, from the previous $ 150 million. Palantir said he had 62 new offers worth more than $ 1 million and hired more than $ 900 million in the quarter. Also impressive were the 20 new customers Palantir added during the quarter.

Hard to argue with these results, and Palantir’s actions reacted accordingly, growing in the pre-market just after the results came out and continuing the strong trend throughout Thursday’s session. There are numerous target price increases on Friday for Wall Street analysts most likely to follow. Friday so far has sparked a rise in Jefferies ’price target, which raised the price target from $ 28 to $ 30. RBC raised its target from $ 20 to $ 25 and Citigroup raised its PLTR target from $ 17 to $ 18. Nothing too dramatic, but everything is in the right direction for the bulls.

Palantir’s key statistics

Market leader $ 46.7 billion
Business value $ 40,499 million
Price / Earnings (P / E) 135

Price / Booking

26
Price / sales 36
The gross margin 0.7
Net margin -1.02
EBITDA
Minimum of 52 weeks $ 45
Maximum of 52 weeks $ 8.90
Wall Street average valuation and price target

HOLD $ 24.47

Palantir PLTR stock forecast

Palantir’s shares had been very well-trodden with a steady uptrend channel paving the way for Thursday’s break. The relative strength index (RSI) and commodity channel index (CCI) had been on the rise in line with the price, thus confirming the movement. Now PLTR has come out of this trend channel and the new target is $ 27.49. This is the June 28 high. This is a great level, as clearly seen by the volume profile. Once here, the volume will shrink sharply, which means it should be easier to get a higher boost. The $ 27.49 also represents the long lateral consolidation move that PLTR shares have experienced since the filthy days of retail frenzy saw it reach $ 45 in January. Escaping from that range could be powerful. To maintain the uptrend, PLTR should stay above $ 23.49. Currently, PLTR shares are just at the checkpoint for 2021. This is the price with the highest volume, so Palantir may have a hard time climbing even higher. A consolidation period is fine, however, for as much as $ 23.49. This will probably be where the 9-day moving average lies.


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