From CNBC: 2025-02-04 09:06:34

Palantir Technologies CEO Alex Karp saw the company’s stock surge over 23% in premarket trading after reporting impressive fourth-quarter results and guidance, driven by AI gains. The Denver-based software company posted adjusted earnings of 14 cents per share and $828 million in revenue, surpassing analysts’ expectations.

Palantir issued strong guidance for the current quarter and full year, forecasting revenues between $858 million and $862 million for Q1 and $3.74 billion to $3.76 billion for the year. The company’s stock has soared 340% in 2024 as its AI platform gained popularity, particularly for its work with defense agencies.

CEO Alex Karp expressed confidence in Palantir’s trajectory, emphasizing the company’s role in driving an AI revolution in the U.S. Palantir reported 64% growth in U.S. commercial revenue and 45% growth in U.S. government revenue in 2024, with a forecasted 54% U.S. commercial sales growth in 2025.

Following the positive earnings report, several Wall Street firms raised their price targets on Palantir stock. Bank of America’s Mariana Perez Mora labeled the company an AI “value adder” and increased her price target, while Morgan Stanley upgraded shares to equal weight from underweight.



Read more at CNBC:: Palantir soars more than 23% as AI powers strong earnings and guidance