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- 1 PLTR Stock rallied 117.73% in three months, 167.01% in 6 months, and 174.32% YTD.
- 2 Experts argue that the new SpecterOps deal is causing the rally.
Palantir Technologies Inc. (NYSE; PLTR) stock rallied 174.32% YTD. Experts argue the reason for the rise is the SpecterOps deal. Since May 1, 2023, PLTR share price has gained 133%, while experts say for another 14% gain. On July 18, 2023, Palantir announced a partnership with SpecterOps.
Palantir Technologies Inc. (PLTR Stock) – Financial Analysis
Palantir owns BloodHound Enterprise software, a cybersecurity tool that facilitates government agencies to swiftly respond to attacks on their active directories (AD). The software empowers IT Ops and SecOps professionals with tools to improve AD security with minimal effort. With the new deal, the company would strengthen the U.S. government agencies against cyber attacks.
Notably, Palantir receives nearly 60% of its revenues from government agencies. In 2022, this income fell to 24% from around 40% in 2021 and 47% in 2022. The company has also invested in special purpose acquisition companies (SPACs) to increase its revenue. The Q1 revenue from SPACs was around $17 Million. Experts argue that it will swell to the range between $17 Million and $19 Million in Q2 2023.
Strategic partnerships are also strengthening the company. For instance, it has a global partnership with IBM (NYSE: IBM), resulting in a 0.089% gain, with the stock reaching $135.48; for its Foundry software. The company also extended its partnership with Microsoft Corp. (NASDAQ: MSFT) to target government agencies, which fell 1.23% to $355.08.
Palantir Technologies Inc. (PLTR Stock) – Technical Analysis
NYSE: PLTR, at press time, is trading at $18.08 after falling 0.17%. Its previous close and open were at $18.08 to $18.02, respectively. The 52-week range is from $5.92 to $19.00, indicating that the current price is close to the upper limits. With an average volume of 56.85 Million shares, the market cap is at $38.238 Billion.
The trailing twelve-month (ttm) earnings per share (EPS) is minus $0.12, indicating weakness. Analysts placed a 1.79 rating to Reduce and estimated a price target at $10.04 with a 44.4% downside.
Palantir reported its last earnings on May 8, 2023, where the reported revenue of $525.186 Million surpassed the expected value of $505.824 Million by 3.83%. When compared to the previous quarter, this value surged by 17.66%. Additionally, the reported earnings of $0.05 per share exceeded the estimated figure of $0.04 by 26.14%. Compared to the previous quarter, this value surged by a whopping 150.00%.
The subsequent earnings shall be reported on August 7, 2023, where the revenue is expected to be $531.546 Million, while the earnings are estimated to be around $0.05 per share. The (ttm) revenue is $1.98 Billion, while the year-over-year (YoY) quarterly revenue growth is 17.70%.
Operating margin (ttm) fell by 5.93% while the operating expenses gained 5.36% to reach $413.43 Million. Net income rose by 116.57% to $16.80 Million, the net profit margin is up by 114.09% to 3.20, while the gross profit (ttm) is $1.5 Billion. Total cash in hand at the end of the most recent quarter (mrq) is $2.9 Billion, while total debt accounts for $259.49 Million.
Palantir Technologies Inc. (PLTR Stock) – Candle Exploration
After the earnings of May 2022, the PLTR share price has been consolidating in the previous range. Although there have been multiple attempts to break out, it finally broke out in June 2023, thanks to the buzz around AI stocks. The rally retraced a bit, forming S1 at $13.61, and bounced off to the current level.
The upward trajectory of EMA hints at a rally, but the RSI of 72.96, already in the overbought zone, indicates a slight drop. Considering this, the price action should consolidate in the expected range until the net earnings are announced. A bullish momentum can be expected after the price exceeds the selling zone.
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets and stocks comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
