Palantir Technologies Inc. is slated to report fourth-quarter 2021 results on Feb 17, before the bell.
The company has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters and matched the same on the other two occasions, delivering an earnings surprise of 70.8%, on average.
Palantir's revenue grew 36% YoY in Q3 and the consensus analysts estimate revenue to grow 30% to $418.07 million. The company's initial focus was on the government sector. The company's first platform Gotham was mainly built for government operatives in the defense and intelligence sector. The company continues to win deals from the public sector. On the other hand, the commercial revenue segment has also shown strong growth in the past few quarters.
Q4 Expectations
The Zacks Consensus Estimate for revenues is pegged at $418.1 million, indicating 29.8% year-over-year growth. The top line is expected to have benefited from strength in both the government and commercial segments. Both segments are likely to have benefited from increased contributions from existing as well as new customers.
The consensus mark for earnings is pegged at 4 cents per share, indicating 42.9% year-over-year decline. Increase in expenses toward product development and sales is likely to have weighed on the bottom line in the quarter.
Analyst Opinion on Palantir Stock
Royal Bank of Canada downgraded Palantir Technologies from a "sector perform" rating to an "underperform" rating and dropped their price objective for the stock from $25.00 to $19.00 in a research note on Tuesday, November 9th.
Deutsche Bank Aktiengesellschaft dropped their price objective on Palantir Technologies from $25.00 to $18.00 in a research note on Friday, January 21st.
Zacks Investment Researchraised Palantir Technologies from a "hold" rating to a "buy" rating and set a $18.00 price objective on the stock in a research note on Wednesday, January 12th.
Wolfe Research decreased their target price on Palantir Technologies from $25.00 to $20.00 and set a "market perform" rating on the stock in a report on Wednesday, November 10th.
Finally, Credit Suisse Group assumed coverage on Palantir Technologies in a report on Tuesday, November 16th. They issued a "neutral" rating and a $25.00 target price on the stock.
Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock.
According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $22.75.