Data-mining and analytics company Palantir (NYSE:PLTR) will be reporting results tomorrow after market hours. Here’s what to look for.
Palantir beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $725.5 million, up 30% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but a significant miss of analysts’ billings 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 27.4% year on year to $775 million, improving from the 19.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.11 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, only Commvault Systems has reported results so far. It beat analysts’ revenue estimates by 6.9%, delivering year-on-year sales growth of 21.1%. The stock was down 7.5% on the results.
Read our full analysis of Commvault Systems’s earnings results here.There has been positive sentiment among investors in the data and analytics software segment, with share prices up 3.1% on average over the last month. Palantir is up 8.7% during the same time and is heading into earnings with an average analyst price target of $53.42 (compared to the current share price of $82.56).
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