Is Palantir Technologies Stock a Buy?
Palantir Technologies' (NYSE: PLTR) stock sank 21% to an all-time low on May 9 after the analytics firm posted its first-quarter earnings report.
Revenue rose 31% year over year to $446 million, which exceeded analysts' estimates by $2.5 million. However, adjusted net income declined 46% to $45 million, or $0.02 per share, which missed analysts' expectations by $0.02. On a generally accepted accounting principles (GAAP) basis, the company's net loss narrowed from $123 million to $101 million.
In the second quarter, Palantir expects revenue to grow about 25% year over year to $470 million -- which missed the consensus forecast for 29% growth and would mark its slowest growth since its public debut. Nevertheless, the company maintained its long-term target of generating at least 30% annual revenue growth through 2025.
Source Fool.com
