“Palantir Second Quarter Earnings Report: Analysts Predict Positive Results as Citi Raises Price Target to $28”
Palantir (NYSE:PLTR) is gearing up to release its second-quarter earnings on Monday, Aug. 5, after the market closes. Analysts are optimistic about the big data analytics company’s performance, with Citi raising its price target to $28 from $25. Citi expects Palantir’s commercial arm to excel despite government uncertainty, and believes that the AI Platform (AIP) will gain momentum.
For the second quarter, analysts anticipate revenue growth of 22.34% to $652 million and adjusted gross profit to increase by 26.18% to $538 million. EPS is expected to rise to 3 cents compared to 1 cent a year ago. Jefferies also raised its price target to $28, emphasizing Palantir’s strong performance in recent quarters.
Overall, analysts have an average price target of $23.07 for PLTR stock, with the highest at $35 and the lowest at $9. Despite the positive outlook, PLTR stock is currently down about 3%.
In conclusion, Palantir’s upcoming earnings report could have a significant impact on its stock price. Investors should pay attention to the results to make informed decisions about their finances. Stay tuned for updates on Palantir’s performance in the market.