{"id":9170,"date":"2023-08-06T09:27:07","date_gmt":"2023-08-06T09:27:07","guid":{"rendered":"https:\/\/isafespend.com\/investing\/palantir-earnings-what-to-expect-from-the-software-company-riding-the-ai-wave\/"},"modified":"2023-08-06T09:27:08","modified_gmt":"2023-08-06T09:27:08","slug":"palantir-earnings-what-to-expect-from-the-software-company-riding-the-ai-wave","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=9170","title":{"rendered":"Palantir earnings: What to expect from the software company riding the AI wave"},"content":{"rendered":"
\n

Palantir Technologies Inc.\u2019s stock has been among the biggest riders of the artificial-intelligence wave this year, and investors are about to find out how that craze has impacted its financials. <\/p>\n

Given a huge run-up in Palantir shares
\n PLTR,
\n -2.73%<\/bg-quote>
\n so far in 2023, with the name up 183% on the year, one analyst is adopting a wait-and-see stance ahead of Monday\u2019s earnings, which come out after the closing bell.<\/p>\n

\n

Jefferies analyst Brent Thill thinks earnings \u201cexpectations are achievable, but offer limited upside as there are still several unknowns in the business.\u201d <\/p>\n

Thill listed the recovery timing of Palantir\u2019s U.S. government business, the durability of its U.S. commercial growth and the pricing strategy for the company\u2019s AI Platform as some of the uncertainties. <\/p>\n

All of these \u201ccould cause near-term choppiness in the financials,\u201d wrote Thill, who has a hold rating on the stock and a $17 price target.<\/p>\n

Read from late July:<\/strong> Palantir is \u2018the Messi of AI,\u2019\u00a0says analyst who thinks its stock can jump 45%<\/p>\n

\u201cPalantir has been one of the top beneficiaries of the AI wave, with its newly launched AI platform enabling a multimodal AI by combining existing predictive and causal AI insights with [large-language model] and [generative] AI capabilities,\u201d Thill added in his report, though he said he\u2019d prefer to stick to the sidelines \u201cuntil more signs of business execution are shown.\u201d<\/p>\n

Monness, Crespi, Hardt & Co. analyst Brian White said he expects Palantir\u2019s commercial activity \u201cto remain susceptible to the vicissitudes of the economy, while the timing of closing deals in the government market has proven unpredictable with lumpy revenue recognition.\u201d<\/p>\n

Still, he thinks the company can continue its recent string of outperformance in the U.S. market. He rates the stock at neutral.<\/p>\n

While many stocks have gotten boosts this year thanks to enthusiasm around AI, Palantir shares have seen some of the biggest gains. Other significant winners include shares of Nvidia Corp.
\n NVDA,
\n +0.37%<\/bg-quote>,<\/span>
\n which will report results Aug. 23, Meta Platforms Inc.
\n META,
\n -0.79%<\/bg-quote>,<\/span>
\n which said in late July that AI was already helping the company deliver useful ad products that aid its monetization objectives, and C3.ai Inc.
\n AI,
\n -3.77%<\/bg-quote>\n <\/p>\n

Read: <\/strong>Will AI do to Nvidia what the dot-com boom did to Sun Microsystems? Analysts compare current hype to past ones.<\/p>\n

Palantir shares closed down 2.8% at $18.18 Friday, but they were still up 2.2% on the week.<\/p>\n

On Monday, the company announced it had been selected by the Department of Defense to automate coordination of spectrum band licensing with commercial parties.\u00a0<\/p>\n

Analysts surveyed by FactSet expect second-quarter earnings of 5 cents a share on revenue of $533.4 million. Analysts, on average, also forecast $301.9 million from government sales and $234 million from commercial sales. <\/p>\n

Related:\u00a0<\/strong>Palantir is well positioned for AI wave, but Mizhuo analyst isn\u2019t ready to turn bullish on the stock yet<\/p>\n

As for Palantir\u2019s outlook for the third quarter, analysts estimate earnings of 5 cents a share on revenue of $553.1 million.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Palantir Technologies Inc.\u2019s stock has been among the biggest riders of the artificial-intelligence wave this year, and investors are about to find out how that craze has impacted its financials. Given a huge run-up in Palantir shares PLTR, -2.73% so far in 2023, with the name up 183% on the year, one analyst is adopting<\/p>\n","protected":false},"author":1,"featured_media":9171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-9170","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nPalantir earnings: What to expect from the software company riding the AI wave | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Palantir Technologies Inc.\u2019s stock has been among the biggest riders of the artificial-intelligence wave this year, and investors are about to find out\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=9170\" \/>\n<meta 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