Palantir Technologies Inc (NYSE:PLTR) reported upbeat sales results for its fourth quarter on Monday.
Palantir said fourth-quarter revenue increased 20% year-over-year to $608 million, which beat the consensus estimate of $602.41 million, according to Benzinga Pro. Palantir reported quarterly adjusted earnings of 8 cents per share, which was in line with analyst estimates.
Palantir expects first-quarter revenue to be between $612 million and $616 million versus estimates of $617.21 million. First-quarter adjusted income from operations is expected to be between $196 million and $200 million.
Full-year 2024 revenue is expected to be between $2.652 billion and $2.668 billion. Full-year adjusted income from operations is expected to be between $834 million and $850 million. The company also guided for GAAP net income in each quarter of 2024.
Palantir Technologies shares fell 1.8% to close at $16.72 on Monday.
These analysts made changes to their price targets on Palantir Technologies after the company reported quarterly results.
- Jefferies raised the price target on Palantir Technologies from $13 to $22. Jefferies analyst Brent Thill upgraded the stock from Underperform to Hold.
- Raymond James raised the price target on Palantir Technologies from $22 to $25. Raymond James analyst Brian Gesuale maintained the stock with an Outperform rating.
- Citigroup boosted Palantir Technologies price target from $10 to $20. Citigroup analyst Tyler Radke upgraded the stock from Sell to Neutral.
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