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Palantir Technologies Inc Ordinary Shares - Class A PLTR

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Morningstar’s Analysis

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Palantir Emphatically Closes Out 2020; Resilient Growth Expected Ahead; Raising FVE to $24

Mark Cash Senior Equity Analyst

Analyst Note

| Mark Cash |

Narrow-moat Palantir Technologies’ 40% year-over-year revenue growth in the fourth quarter came in well above our prior expectations and management’s guidance. The company is also benefiting from the transition to a software-based firm and its efforts to more efficiently deliver and scale its products. Palantir is landing larger deals from more customers while expanding the margin profile of its deployments, and we believe the small customer base is indicative of a sizable opportunity as Palantir grows its sales force and channel partnerships. After increasing our revenue growth profile while still expecting strong operating margin expansion, we are raising our fair value estimate to $24 per share from $18. Shares fell over 10% in intraday trading, but we still recommend a wider margin of safety before investing

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Company Profile

Business Description

Palantir Technologies provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes. Founded in 2003, Palantir released its Gotham software platform in 2008, which focuses on the government intelligence and defense sectors. Palantir expanded into various commercial markets with its Foundry software platform in 2016 with the intent of becoming the data operating system for companies and industries. The Denver, Colorado company had 125 customers as of its IPO and roughly splits its revenue between commercial and government customers.

1555 Blake Street, Suite 250
Denver, CO, 80202
T +1 720 358-3679
Sector Technology
Industry Software - Infrastructure
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Distressed
Employees 2,439