Palantir Stock Tumbles 15% on Soft Outlook, Citi Sees Many Negatives
2022.08.08 17:22
Palantir (PLTR) Stock Tumbles 15% on Soft Outlook, Citi Sees Many Negatives
By Senad Karaahmetovic
Shares of Palantir (NYSE:PLTR) are down about 14% at the market open after the software company offered lukewarm revenue guidance.
Palantir reported Q2 revenue of $473 million, somewhere in line with the Bloomberg consensus of $472.5 million. PLTR also reported an adjusted loss per share of 1c, better than the analyst estimate of 2.9c. The adjusted operating margin came in at 23%.
For this quarter, Palantir said it expects to see revenue between $474 million and $475 million, down from the prior estimate of $506.3 million. On a full-year basis, revenue is seen at $1.9 billion, again lower than the $1.98 billion consensus.
“Revised guidance excludes any new major US government awards and we believe this to be the base case,” the company said in a press release.
A Citi analyst weighed in negatively amid “weak” Q3 guidance against “much easier comps”.
He reiterated a Sell rating as Q2 results “showed signs of continuing slowing growth and deteriorating margins at PLTR with another skinny beat on top-line (
