Palantir Technologies Inc (NYSE: NYSE:PLTR) shares are trading lower by 2.3% at $7.29. The company Monday said it expects second-quarter revenue below analyst estimates. The company Tuesday received a number of analyst rating updates.
Palantir reported quarterly earnings of 2 cents per share which missed the analyst consensus estimate of 4 cents by 50 percent. The company reported quarterly sales of $446.00 million which beat the analyst consensus estimate of $443.42 million. This sales figure represents a 31% increase over sales of $341.23 million in the same period last year.
Palantir meanwhile sees second-quarter sales of $470 million, which is below the analyst consensus estimate of $483.84 million.
Palantir says, per the long-term guidance policy by CEO Alex Karp, the company continues to expect annual revenue growth of 30% or greater through 2025.
- RBC Capital analyst Rishi Jaluria downgraded Palantir Technologies from Sector Perform to Underperform and lowered the price target from $12 to $6.
- Citigroup (NYSE:C) analyst Tyler Radke maintained Palantir Technologies with a Sell and lowered the price target from $10 to $7.
- Deutsche Bank (ETR:DBKGn) analyst Brad Zelnick maintained Palantir Technologies with a Hold and lowered the price target from $15 to $11.
- Morgan Stanley (NYSE:MS) analyst Keith Weiss maintained Palantir Technologies with an Equal-Weight and lowered the price target from $16 to $13.
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Palantir Technologies provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes.
According to data from Benzinga Pro, Palantir Technologies has a 52-week high of $29.29 and a 52-week low of $9.42.
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