The post Analysts set Palantir (PLTR) stock price target after earnings appeared on BitcoinEthereumNews.com.

Thanks to a very strong second quarter (Q2) earnings report, Palantir (NYSE: PLTR) stock stood in stark contrast against most of the market in the extended session between August 5 and 6. Palantir reported Q2 adjusted earnings of $0.09 per share on revenue of $678.1 million, exceeding analysts’ estimates of $0.08 per share on revenue of $653.2 million. The strong results beat expectations, thanks to a bunch of new business wins, including 27 deals worth over $10 million each, which boosted their customer count by 41% compared to last year in Q2.   Additionally, the company expects Q3 revenue to be between $697 million and $701 million, topping Wall Street’s estimate of $680.7 million. Indeed, having reported strong revenue and earnings growth and having beaten analyst predictions, PLTR shares have risen in the extended session to be 10.21% in the green at press time, with a price of $26.55. PLTR stock 5-day price chart with Tuesday premarket action. Source: Google Furthermore, not only did Palantir beat expectations and surge up on increased artificial intelligence (AI) demand, but strong guidance for the upcoming quarters bolstered the bull case for the technology company. Wedbush highly bullish on Palantir stock Given the reported figures, it comes as no surprise that multiple prominent analysts have reacted positively to the earnings with, for example, Wedbush’s Dan Ives upgrading the 12-month PLTR price target from $35 to $38 and explaining the firm’s bull case would see the shares climb as high as $50. Raising our price target to $38 from $35 as the AIP story now takes hold for Palantir. Our bull case is $50. This was a game changer quarter for the Palantir story as the AIP monetization story shines. Haters will hate on this one..but US commercial AI speaks for itself 🏆🔥🐂 — Dan Ives…

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Filed under: News - @ August 6, 2024 4:16 pm