Here's Why Palantir Stock Is Down Big This Week
Shares of Palantir (NYSE: PLTR) have lost ground following the company's third-quarter earnings release. The stock is down roughly 12.4% since last Friday's close as of 2 p.m. EST in today's session, according to data from S&P Global Market Intelligence.
Palantir published its Q3 results on Nov. 9, posting sales that came in ahead of the market's expectations. The company recorded revenue of $392.1 million in the quarter and non-GAAP (adjusted) earnings per share of $0.04. Earnings for the period were in line with the average analyst target, but sales beat the analyst consensus by $5.54 million. The big data analytics specialist also raised its free cash flow (FCF) target for the full-year period, but that wasn't enough to stop the stock from selling off following the earnings report.
Image source: Getty Images.
Source Fool.com
