Nvidia<\/a> – and the benchmark S&P 500 Index, amid mounting concerns of an “AI bubble”.<\/p>\nPalantir expects fourth-quarter sales of between $1.327 billion and $1.331 billion, compared with analysts’ average estimate of $1.19 billion, according to data compiled by LSEG.<\/p>\n
The forecast implies a slight deceleration in revenue growth to roughly 61%, from the third quarter’s 63% jump – a “cause of concern given the stock’s lofty valuation,” said Blake Anderson, associate portfolio manager at Carson Group.<\/p>\n
The stock trades at a whopping 12-month-forward price-to-earnings ratio of 246.2, compared with Wall Street darling Nvidia’s 33.3, according to LSEG data.<\/p>\n
D.A. Davidson analyst Gil Luria, however, said the results should be enough to meet the expectations required to keep shares at these “unprecedentedly high valuation levels”.<\/p>\n
The company, which last month announced a deal with Nvidia to use the AI chip leader’s processors and software to help its customers speed up decisions, also raised its annual sales forecast to a range of $4.396 billion to $4.40 billion.<\/p>\n
Palantir had earlier expected annual revenue of between $4.142 billion and $4.15 billion.<\/p>\n
It recorded adjusted per share earnings of 21 cents in the third quarter, beating estimates of 17 cents. Palantir reported revenue of $1.18 billion for the quarter ended September 30, beating estimates of $1.09 billion.<\/p>\n
Initially backed by the CIA, Palantir’s results have also been buoyed by expectations of increased defense spending on its military-grade AI tools.<\/p>\n
The U.S. Army has issued an official public memo directing all army organizations to use the company’s ‘Vantage’ platform, chief technology officer Shyam Sankar said on a post-earnings call.<\/p>\n
(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Sriraj Kalluvila)<\/p>\n","protected":false},"excerpt":{"rendered":"By Arsheeya Bajwa (Reuters) -Palantir Technologies forecast fourth-quarter revenue above analysts’ estimates on Monday, as the rapid adoption…\n","protected":false},"author":2,"featured_media":270553,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,144858,144859,67829,58616,4321,24255,85913,74],"class_list":["post-270552","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-data-analytics-services","tag-estimates","tag-fourth-quarter-revenue","tag-lseg","tag-nvidia","tag-palantir-technologies","tag-stock-trades","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/270552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=270552"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/270552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/270553"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=270552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=270552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=270552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}