News – US – Here’s why Palantir stock is a momentum buy after gaining ground


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Palantir (NYSE: PLTR) shares closed on Jan. February 2021 experienced a major boom Initially, the company was upgraded by Christopher Merwin, analyst at Goldman Sachs (NYSE: GS) The analyst increased the PLTR share from neutral to buy with an accompanying price target of USD 34 (previously USD 13) Bullish investors also welcomed the announcement that Cathie Wood, Ark Invest’s respected fund manager, had expanded her company’s position
The combination of these outings makes it almost certain that Palantir stock will start trading on Jan. February will rise higher But is this a passing bump or the start of a bigger trend? One look at the company’s investor presentation suggests that this big data growth company has great momentum that should temper bearish arguments

The bulls and bears each have their bearings and are dug into their positions. Of the eight analysts who currently offer ratings for Palantir, the company has four sales ratings that are almost unknown

The company’s investor presentation made on its fourth quarter results has a lot going for it, however, and it’s starting to negate one of the more bearish arguments against PLTR stock

Palantir is known to burn cash The company’s earnings report continued to show the company posted negative earnings per share of 8 cents, despite a 40% increase in quarterly revenue from last year The $ 322 million made by Palantir reported exceeded estimates by $ 21 million (adsbygoogle = window adsbygoogle || []) push ({});

But that’s only part of the sales story In 2020, the company’s annual sales growth for the full year was 47% The company reported that sales of its top 20 customers rose 34%, while the proportion of top 20 customers in total sales decreased from 67% to 61%

This means the company is adding customers and increasing the revenue they are getting from their existing customers, both of which are long-term bullish arguments for Palantir

There were two projects in the company’s presentation that caught my eye after this week’s events.First, Palantir has a contract with BP (NYSE: BP) in support of their Net Zero emissions initiative, Palantir’s foundry system is helping the company that Optimize the company’s platform, including wind farms, electric charging systems and solar power generation

And Palantir has a similar deal with Pacific Gas & Electric (NYSE: PCG) to optimize its power grid. Both projects sound exactly like a solution a state like Texas may need very soon

Indeed, the need to optimize a power grid that includes “all of the above” portfolio of energy sources can be a catalyst for Palantir

Another reason why Palantir polarizes is that it works a lot with government agencies, roughly 56% of its business to be precise, and the value of those contracts can be colored depending on where an investor is on the political spectrum

Let me give you two examples.The company’s Gotham platform was credited with helping the Central Intelligence Agency locate and ultimately kill Osama Bin Laden.Second, it received assignments from local police and the U.S. Immigration and Customs Control (ICE)

This leads some Palantir bears to view the company as committed to a major right-wing conspiracy, especially since one of the founders of Palantir is Peter Thiel, who is closely associated with Donald Trump

But that would be a simplification of the mesh cast by Palantir. In fact, the company’s current CEO Alex Karp was a staunch supporter of Hillary Clinton, and this is borne out by the fact that although the US. The government reduced and not abandoned Palantir’s advisory services during the Obama administration

As I mentioned at the beginning of this article, Palantir stock is likely to move higher, and it seems to have the attention of the hedge fund community, which means it will likely turn into a momentum buy

There are times when you should be skeptical of momentum games. However, in the case of Palantir, the company looks like it is increasing and diversifying its revenue base. Ultimately, all objections to the company’s “penchant for secrecy” should come to an end. dissolve as soon as it is a listed company

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Palantir Technologies, stocks, earnings

News – United States – Here’s why Palantir stocks are a momentum buy after earnings
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