Data-mining and analytics company Palantir (NYSE: PLTR) will be announcing earnings results tomorrow after market hours. Here’s what you need to know.
Palantir beat analysts’ revenue expectations by 6.8% last quarter, reporting revenues of $827.5 million, up 36% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ billings estimates and an impressive beat of analysts’ EBITDA estimates.
Is Palantir a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Palantir’s revenue to grow 35.9% year on year to $862.3 million, improving from the 20.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.13 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Palantir has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Palantir’s peers in the data and analytics software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Commvault Systems delivered year-on-year revenue growth of 23.2%, beating analysts’ expectations by 4.8%, and Confluent reported revenues up 24.8%, topping estimates by 2.6%. Commvault Systems’s stock price was unchanged after the resultswhile Confluent was down 18.2%.
Read our full analysis of Commvault Systems’s results here and Confluent’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 15.5% on average over the last month. Palantir is up 60% during the same time and is heading into earnings with an average analyst price target of $87.05 (compared to the current share price of $124.55).
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