Palantir Stock News and Forecast: What were PLTR earnings like?

Palantir Technologies (PLTR) stock was set for a run today as retail investors pushed the stock to the top of social media sites. Many have held onto shares from earlier highs, and others who remember the volatility were looking for another surge. Earnings today were seen as the catalyst, but unfortunately Palantir's earnings were a disappointment. PLTR missed on both top and bottom lines, and the stock has fallen by 8% in Thursday's premarket.

Palantir Stock News

Palantir reported earnings per share (EPS) of $0.02 versus estimates for $0.04. Revenues were $432.9 million, which beat estimates for $417.7 million. Palantir also guided for Q1 revenue of $443 million, which is ahead of analyst estimates for $439 million. Management also restated its long-term revenue growth forecasts of 30% per annum out to 2025. Revenue growth and customer acquisition remain strong, but the earnings number will renew focus on costs.

In the past, the stock has suffered due to investors focusing on supposed stock compensation issues. The current environment is harsher, and despite reassuring on revenue for Q1 and out to 2025 investors will not be impressed by the EPS miss of 50%. There is no breakdown on the expense or cost side as to why the increase in revenue did not follow through to the bottom line. This will need to be clarified but does not read well, and the stock is now down 9% in the premarket. 

Palantir Stock Forecast

The premarket move has so far bottomed out at $12, which is significant as the yearly lows for 2022 are just around there. Breaking below will target old lows at $10.24 going back to October and November 2020. This was the initial breakout level. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are still both steadily declining and this premarket move will only confirm this. Breaking $12 also sees a volume gap until $10.24. Breaking above $14.34 ends the short-term bearish trend. 

PLTR 1-day chart

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