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Palantir (PLTR) Reports Q2: Everything You Need To Know Ahead Of Earnings


Adam Hejl /
2022/08/07 6:27 am EDT
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Data-mining and analytics company Palantir (NYSE:PLTR) will be reporting results tomorrow before market hours. Here's what investors should know.

Last quarter Palantir reported revenues of $446.3 million, up 30.8% year on year, in line with analyst expectations. It was a weaker quarter for the company, with an underwhelming revenue guidance for the next quarter.

Is Palantir buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Palantir's revenue to grow 25.5% year on year to $471.7 million, slowing down from the 49.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.03 per share.

Palantir Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3.28%.

Looking at Palantir's peers in the data and analytics software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Health Catalyst delivered top-line growth of 18.4% year on year, beating analyst estimates by 1.08% and Amplitude reported revenues up 48% year on year, exceeding estimates by 5.34%. Health Catalyst traded down 5.33% on the results, and Amplitude was up 3.34%. Read our full analysis of Health Catalyst's results here and Amplitude's results here.

There has been positive sentiment among investors in the software segment, with the stocks up on average 4.68% over the last month. Palantir is up 12.1% during the same time, and is heading into the earnings with analyst price target of $12, compared to share price of $11.29.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

The author has no position in any of the stocks mentioned.