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Palantir Technologies Inc Ordinary Shares - Class A PLTR Stock Quote

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Morningstar‘s Stock Analysis PLTR

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Palantir Shares Sink After Disappointing Outlook; FVE Down to $13

Analyst Note

| Malik Ahmed Khan |

We are lowering our fair value estimate for narrow-moat Palantir Technologies to $13 per share from $16. Our decrease is largely due to continued near-term macroeconomic headwinds resulting in less software spending, uncertainty in some of its larger contracts, and a disappointing outlook for the full year. Shares were hit extremely hard upon the release, down over 12% to slightly under $10 per share. Despite our more conservative estimate, Palantir remains undervalued, in our view, and our strong belief in its long-term growth potential is unchanged. We are also encouraged by Palantir’s continued effort to diversify its revenue streams, particularly within its commercial business to help mitigate lulls in revenue derived from contract timing.

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Company Profile PLTR

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 company had 125 customers as of its initial public offering and roughly splits its revenue between commercial and government customers.

1555 Blake Street, Suite 250
Denver, CO, 80202
T +1 720 358-3679
Industry Software - Infrastructure
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Speculative Growth
Employees 3,269

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