- Palantir shares fall as earnings numbers disappoint.
- Palantir stock fell Wednesday in advance of earnings.
- PLTR is a high growth stock and thus suffering in the current bearish environment.
Palantir Technologies (PLTR) stock was set for a run today as retail investors pushed the stock to the top of social media sites. Many have held onto shares from earlier highs, and others who remember the volatility were looking for another surge. Earnings today were seen as the catalyst, but unfortunately Palantir's earnings were a disappointment. PLTR missed on both top and bottom lines, and the stock has fallen by 8% in Thursday's premarket.
Palantir Stock News
Palantir reported earnings per share (EPS) of $0.02 versus estimates for $0.04. Revenues were $432.9 million, which beat estimates for $417.7 million. Palantir also guided for Q1 revenue of $443 million, which is ahead of analyst estimates for $439 million. Management also restated its long-term revenue growth forecasts of 30% per annum out to 2025. Revenue growth and customer acquisition remain strong, but the earnings number will renew focus on costs.
In the past, the stock has suffered due to investors focusing on supposed stock compensation issues. The current environment is harsher, and despite reassuring on revenue for Q1 and out to 2025 investors will not be impressed by the EPS miss of 50%. There is no breakdown on the expense or cost side as to why the increase in revenue did not follow through to the bottom line. This will need to be clarified but does not read well, and the stock is now down 9% in the premarket.
Palantir Stock Forecast
The premarket move has so far bottomed out at $12, which is significant as the yearly lows for 2022 are just around there. Breaking below will target old lows at $10.24 going back to October and November 2020. This was the initial breakout level. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are still both steadily declining and this premarket move will only confirm this. Breaking $12 also sees a volume gap until $10.24. Breaking above $14.34 ends the short-term bearish trend.
PLTR 1-day chart
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stays around 1.0300 ahead of FOMC Minutes
EUR/USD stays under heavy selling pressure and trades around 1.0300 on Wednesday. News of US President-elect Donald Trump planning to declare an economic emergency to allow for a new tariff plan weighs on risk mood. US ADP misses expectations with 122K vs 140 anticipated.
GBP/USD drops to fresh multi-month lows, hovers around 1.2350
GBP/USD remains on the back foot and trades at its weakest level since April, around 1.2350. The risk-averse market atmosphere on growing concerns over an aggressive tariff policy by President-elect Donald Trump drags the pair lower as focus shifts to US FOMC Minutes.
Gold pressures fresh multi-week highs
Gold price (XAU/USD) advances modestly in a risk-averse environment. The benchmark 10-year US Treasury bond yield holds at its highest level since late April near 4.7%, making it difficult for XAU/USD ahead of FOMC Minutes.
Crypto Today: BTC drops 3% despite $52M ETF inflows as Chainlink launches Ripple’s RLUSD
Mega-cap assets like XRP and exchange tokens BNB and BGB showcased resilience, defying broader market weakness spurred by an ongoing liquidation event that wiped over $150 billion from global crypto market capitalization in the past 24 hours.
Bitcoin edges below $96,000, wiping over leveraged traders
Bitcoin's price continues to edge lower, trading below the $96,000 level on Wednesday after declining more than 5% the previous day. The recent price decline has triggered a wave of liquidations across the crypto market, resulting in $694.11 million in total liquidations in the last 24 hours.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.