search icon
      blog search icon

      What Is Driving The Palantir Technologies (PLTR) Stock Higher In Early Trades? - Stocks Telegraph

      By Fahim Awan

      Published on

      August 12, 2021

      2:02 PM UTC

      What Is Driving The Palantir Technologies (PLTR) Stock Higher In Early Trades? - Stocks Telegraph

      At last check, Palantir Technologies Inc. (PLTR) shares were trading at $24.68 after rising 10.45% in early deals today. PLTR stock ended Wednesday’s session at $22.35 after losing -2.49%. PLTR stock volume so far today is 40.05 million shares, which is higher than the average daily volume of 36.36 million shares over the past 50 days. PLTR stock rose by 0.22% in the last week, while it gained 18.32% in the previous three months. Further, PLTR has a current market capitalization of $43.29 billion and 1.82 billion outstanding shares. PLTR stock is surging after its quarterly results were released.

      What PLTR Stock has revealed?

      Software platforms from Palantir are deployed by the United States intelligence community to support counterterrorism operations and investigations. For the defense and intelligence sectors, Palantir Gotham is a software platform used by government operatives. By analyzing datasets from source intelligence to confidential informant reports, PLTR’s Gotham platform allows users to identify patterns from deep within datasets and facilitates the creation of real-time operational response plans that can be executed in an operational environment.

      Additionally, Palantir offers Palantir Foundry, a platform that transforms the way businesses operate by creating a central operating system for their data. It also provides individual users with a single place to integrate and analyze data. Based in Denver, Colorado, PLTR was founded in 2003. Palantir announced today its financial results for the second quarter ended June 30, 2021.

      Highlights from Q2 2021:

      • In the reported quarter, PLTR’s revenue increased 49% year-over-year to $376 million.
      • PLTR’s U.S. commercial revenue grew 90% from last year.
      • As of the end of the third quarter, PLTR closed 62 deals worth $1 million or more, of which 30 were worth more than $5 million, and 21 were worth at least $10 million.
      • With 20 new customers added in Q2 2021, PLTR’s total customers increased 13% quarter-over-quarter.
      • In quarter-over-quarter comparison, PLTR’s commercial client base increased 32%.
      • PLTR generated $23 million in cash flow from operations in Q2 2021, representing a margin of 6%.
      • With its adjusted free cash flow of $50 million, PLTR maintains a margin of 13%.
      • By GAAP, PLTR reported an annual net loss of ($0.07) per diluted share.
      • PLTR reported $0.04 in adjusted earnings per diluted share.

      Conference call:

      At 8:00 am ET today, PLTR held a webcast to discuss its second quarter results and its future prospects. A replay of the webcast will be available following the event at https://investors.palantir.com. Through the Investor Relations section on its website, PLTR will provide supplementary financial information and reconcile certain non-GAAP measures with their nearest comparable GAAP measures.

      What is PLTR Stock looking forward to?

      Palantir (PLTR) is expecting revenue of $385 million for the third quarter of 2021, with a profit margin of 22%. PLTR has raised its guidance for full year 2021. PLTR is now expecting adjusted free cash flow of over $300 million, an increase from its previous expectation of over $150 million.

      More From Stocks telegraph