Palantir Stock Jumps on Revenue and Earnings Beat

Software company Palantir Technologies (PLTR) saw its stock rise sharply in after-hours trading on Monday following the release of its fourth-quarter financial results.

The company reported a revenue of $433 million, a 34% increase year-over-year. This beat analysts' estimates of $415 million. Palantir also reported a net income of $31 million, or $0.03 per share, compared to a loss of $161 million, or $0.18 per share, in the same period last year. This also exceeded analysts' estimates of a loss of $0.02 per share.

The company's strong financial performance was driven by growth in its commercial business. Palantir's commercial revenue grew 49% year-over-year to $273 million. The company also saw growth in its government business, with revenue increasing 19% to $160 million.

Palantir's strong financial performance is a sign that the company is continuing to execute on its strategy of becoming a leading provider of data analytics software to governments and businesses. The company's stock has been on a tear in recent months, rising over 100% since the beginning of the year.

Key takeaways:

• Palantir's revenue and earnings beat analysts' estimates.
• The company's commercial business was a key driver of growth.
• Palantir's stock has been on a tear in recent months.

Looking ahead:

Palantir is well-positioned to continue its growth in the coming years. The company has a strong balance sheet and a growing customer base. Palantir is also investing heavily in research and development, which should help it to maintain its competitive advantage.

Analysts are bullish on Palantir's stock. According to Yahoo Finance, the average analyst rating for Palantir is "buy." The average price target for the stock is $30, which represents a potential upside of over 20% from the current price.