Palantir Technologies (PLTR) on Tuesday reported revenue and revenue for the December quarter that was above estimates as it concluded several major deals. The Palantir share fell early early as revenue guidance for the 2021 year came slightly below expectations.
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In the Palantir revenue report, the software stock traded just below a buy zone.
In the fourth quarter, Palantir reported a loss of 8 cents per share, including share-based payment, according to generally accepted accounting principles, or GAAP, accounting rules.
Revenue rose 40% to $ 322 million, the data analytics software provider told U.S. government agencies. Analysts forecast an adjusted profit of 2 cents, excluding share-based compensation, on revenue of $ 300.7 million.
In Denver, Colo., Palantir said quarterly operating income was adjusted from $ 104.1 million, excluding inventory compensation and other expenses.
Palantir Stock: 2021 Income Prospect Light
For the current quarter ending in March, Palantir predicted revenue growth of more than 45%. Analysts surveyed by Factset forecast revenue of $ 309.5 million in the first quarter, up 35%.
For the full year 2021, Palantir said it expects revenue growth of 30%, which is slowing to 47% growth by 2020. In addition, analysts have modeled 2021 revenue growth from 31% to $ 1.406 billion.
Palantir shares fell 4.8% today to 30.38 in early trading on the stock market.
A direct listing of Palantir share was launched on September 30 with a price of 7.25 per share. The lock-in period of the IPO expires around 19 Feb. 80% of the outstanding shares are released for trading.
In the Palantir earnings report, the software share of the company possessed a relative strength of 95 out of a possible 99.
Founders of Palantir have the right to vote
In addition, government agencies use Palantir software for intelligence gathering, counter-terrorism and military purposes. The software manufacturer also wants to expand into healthcare, energy and manufacturing sectors.
Meanwhile, Palantir shares belong to the IBD Leaderboard. Leaderboard is a list of IBD’s leading stocks that stand out on technical and fundamental benchmarks.
Furthermore, the management structure of Palantir co-founders Peter Thiel, Alex Karp and Stephen Cohen gives long-term control over the company through superstars.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cyber security and cloud computing.
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