Palantir Technologies, Inc. (NYSE:PLTR) shares are moving Friday. The company will release its second-quarter financial results on Monday.
What To Know:
On Friday, RBC analyst Rishi Jaluria maintained an Underperform rating and $5 price target on Palantir. The analyst stated, “Based on our checks, we don’t believe Palantir is truly a GenAI company. While CEO Alex Karp may beat the drum on AI, especially in the media, our sense is AIP may be the same product Palantir has been selling, but with connectivity to LLMs (which are not commoditized, in our view, contrary to Palantir’s viewpoint).”
Palantir is set to release its second-quarter financial results after the close of markets on Monday and will host a conference call to discuss the results at 5:00 p.m. ET the same day. The company is expected to report earnings of 5 cents per share and revenue of $530.2 million, according to estimates from Benzinga Pro.
Also on Friday, Palantir and WesTrac Pty, Ltd. announced a five-year expansion of the partnership to deploy Palantir’s Foundry across core operations to drive greater overall efficiency and customer delivery for WesTrac.
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PLTR Price Action: According to Benzinga Pro, Palantir shares are trading 1.6% lower at $18.40 at the time of publication.
Image: Courtesy of Palantir Technologies, Inc.
