Shares of Palantir (NYSE: PLTR) are up nearly 10%, or by $11.10 on the day.
In fact, PLTR just hit an all-time high thanks to substantial catalysts.
One, the Saudi Crown Prince announced hopes for $600 billion to $1 trillion in investment opportunities, which could be a signal for major development plans. It could also create big opportunities for Palantir.
Two, President Trump just expressed support for stability and economic growth in the Middle East, which could create big opportunities for Palantir.
Palantir Posted Strong Earnings
Fueling more upside, Palantir posted EPS of 13 cents, which was in line with estimates. Revenue of $883.85 million, up 39.3% year over year, beat by $21.72 million.
Plus, “Our Rule of 40 score increased to 83% in the last quarter, once again breaking the metric. We are in the middle of a tectonic shift in the adoption of our software, particularly in the U.S. where our revenue soared 55% year-over-year, while our U.S. commercial revenue expanded 71% year-over-year in the first quarter to surpass a one-billion-dollar annual run rate,” said Alexander C. Karp, co-founder and chief executive officer of Palantir Technologies.
“We are delivering the operating system for the modern enterprise in the era of AI. Consequently, we are raising our full-year guidance for total revenue growth to 36% and our guidance for U.S. commercial revenue growth to 68%.”
Analysts See Big Things Ahead of Palantir
Analysts at Bank of America just reiterated a buy rating on the PLTR stock with a target of $150.
“While there’s some value for general tools, we continue to remind investors Palantir’s value is creating outcome-focused bespoke AI-enabled products, at scale,” said the firm, as quoted by TheStreet.com. “We see PLTR as the market definer for organizations leveraging AI to drive accelerated tangible results.”
Helping, Chief Accounting Officer Heather Planishek just bought 10,000 shares for about $1.16 million. Reportedly, U.S. Rep. Marjorie Taylor Greene bought shares of Palantir before the U.S. Immigration and Customs Enforcement announced a $30 million contract with the company.
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