Palantir (PLTR) Reports Q3: Everything You Need To Know Ahead Of Earnings

Anthony Lee /
2023/11/01 3:02 am EDT

Data-mining and analytics company Palantir (NYSE:PLTR) will be announcing earnings results tomorrow before the bell. Here's what to look for.

Last quarter Palantir reported revenues of $533.3 million, up 12.7% year on year, missing analyst expectations by 0.1%. It was a mixed quarter for the company, with underwhelming revenue guidance for the next quarter. On the other hand, the company raised full year guidance for both revenue and adjusted operating income.

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 16.4% year on year to $556.4 million, slowing down from the 21.9% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 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 only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 1.38%.

Looking at Palantir's peers in the data and analytics software segment, only Commvault Systems has so far reported results, delivering top-line growth of 6.88% year on year, and beating analyst estimates by 2.96%.

Read our full analysis of Commvault Systems's earnings results here.

The whole tech sector has been facing a sell-off, and while some of the data and analytics software stocks have fared somewhat better, they have not been spared, with share price declining 4.45% over the last month. Palantir is down 1.01% during the same time, and is heading into the earnings with analyst price target of $14.1, compared to share price of $14.7.

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.

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