Palantir's Q3 2024 revenue is expected to fall between $697 million and $701 million, indicating roughly 26% year-over-year growth. Free cash flow margins remain solid, and capital expenditures are low due to Palantir's software-focused business model. Palantir's continued expansion in the commercial sector, especially in healthcare and finance, is crucial for sustaining revenue growth.
Palantir is helping companies incorporate AI into their businesses — and one analyst says it's succeeded “more than any company (not named Nvidia).”
Palantir Technologies (PLTR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
I am upgrading Palantir's stock to a "buy" as I had previously underestimated profitability expansion potential, despite high valuation and expected volatility. I believe that Palantir will likely beat its Q3 FY24 revenue and earnings target, driven by strong AIP demand and strategic government contracts keeping the trend of revenue acceleration alive. While Palantir's forward revenue multiple is high compared to peers, despite similar revenue growth rates into FY26, its potential for profitability expansion could justify a price target of $61.
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The share price of software giant Palantir (NYSE: PLTR) continued its upward momentum, reaching a new all-time high of $45 per share and breaking a market cap of $100 billion for the first time during the last trading session.