From Nasdaq: 2024-08-01 13:32:00

Palantir Technologies Inc. (PLTR) will report its second-quarter 2024 results on Aug 5, with earnings estimated at 8 cents per share and total revenues expected to be $652.3 million, showing 22.3% growth. The company has an impressive history of beating earnings estimates and has seen a 56.6% surge in its stock this year.

The company’s outlook for Q2 2024 indicates a healthy improvement in both Government and Commercial segments, with estimates showing significant year-over-year growth in revenues. However, Palantir’s stock is currently trading at high valuations, leading some investors to wait for a potential market correction before buying.

Palantir’s AI solutions, including a recent $480 million U.S. defense contract for AI system Maven, position it well for growth. The company generates 55% of its revenues from government contracts and 45% from commercial ventures. While analysts predict a potential slowdown in business growth, Palantir’s AI capabilities support its sustained growth in a dynamic market.

Overall, Palantir remains fundamentally strong but may not be primed for an earnings beat in the upcoming quarter. With the stock trading at high valuations, investors might want to wait for a more favorable entry point. Despite the potential for market correction, Palantir’s expertise in AI-driven information warfare and cybersecurity continues to drive its growth trajectory in a rapidly evolving landscape.



Read more at Nasdaq: Should You Buy Palantir (PLTR) Ahead of Q2 Earnings Report?