Richard Bernstein, Richard Bernstein Advisors CEO and CIO, joins 'Closing Bell Overtime' with reaction to Palantir's Q3 results and the day's market action.
Palantir Technologies Inc (NYSE:PLTR) reported better-than-expected third quarter results, driven by record contract wins and the adoption of its AI-powered platform, and issued upbeat guidance. For Q3, the data analytics firm reported revenue of $1.18 billion, surpassing analysts' estimates of $1.09 billion, and adjusted earnings per share of $0.21, above expectations of $0.17.
Wedbush's Dan Ives joins 'Closing Bell' to discuss Ives' thoughts on Palantir, the company's growth rate needed to justify its valuation and much more.
The company said its sales were $1.18 billion in the third quarter for a year-over-year growth rate of 63%.
Palantir topped third-quarter estimates and issued strong guidance, attributing growth to adoption of its artificial intelligence software platform. Government sales, which have been central to Palantir's ascent, grew 52% from a year ago.
Gil Luria, D.A. Davidson head of technology research, joins 'The Exchange' to discuss the expectations for Palantir's quarterly earnings results, the company's rich valuation and much more.
Wedbush analysts on Monday raised their target price on Palantir Technologies Inc (NYSE:PLTR) to $230 per share, from $200, believing the company will reach a trillion-dollar market cap over the next two to three years as Palantir enters its next growth stage in the AI revolution. “Palantir continues to see unprecedented demand for AIP (Artificial Intelligence Platform) based on our recent checks in the field across both commercial and government landscapes by taking AI solutions that solve meaningful problems across organizations at enterprise scale driving new customer conversions and existing deal expansions," the analysts wrote in a note to clients.
AI investor favorite Palantir is set to report its latest quarterly results after the closing bell today, with traders expecting a big move in the data analytics software maker's stock that could take it to new highs.
Palantir (NASDAQ: PLTR) is set to release its third-quarter earnings report today, November 3, with investors watching closely given the performance so far this year.
Vertex, Corteva, and many more will also report earnings. On the economic front, The Supreme Court will hear arguments on the legality of Trump's tariffs, and ADP will release October employment data.
Tech company offers 22 teens a chance to skip college for its fellowship, which includes a four-week seminar on Western civilization.
Palantir Technologies NASDAQ: PLTR has consistently delivered strong results for investors in the past two years. That consistency has also been seen in the PLTR stock price.