Why Palantir Stock Skyrocketed 55.9% Last Month
Palantir (NYSE: PLTR) stock posted explosive gains across February's trading. The company's share price closed out last month up 55.9%, according to data from S&P Global Market Intelligence. Meanwhile, the S&P 500 index climbed roughly 5.2% in the month.
In addition to surging excitement for artificial intelligence (AI) stocks, Palantir reported fourth-quarter results that beat Wall Street's expectations. While the company's non-GAAP (adjusted) per-share earnings of $0.08 were in line with the average analyst estimate, the company's revenue of $608.4 million beat Wall Street's target by roughly $6 million. Even better, Palantir's evolving sales makeup suggests that its strong performance could keep going.
In addition to doubling its adjusted earnings per share on an annual basis in Q4, the company also posted earnings per share of $0.04 on a generally accepted accounting principles (GAAP) basis. The performance represented a dramatic improvement from the per-share earnings of $0.01 it posted in the prior-year quarter and also marked the business's fifth consecutive quarter of GAAP profitability.
Source Fool.com
