Palantir (PLTR) shares 26% after Blockbuster -earnings

Palantir Technologies (PLTR, Financial) shared more increased more than 26% on Tuesday Morning after the company produced a fantastic earnings report that crushed expectations. The company beat Wall Street’s expectations by sending earnings per. Stock (EPS) of 14 cents. The company recorded a 36% growth in the turnover for the $ 827 million, which far exceeded the analysts’ estimates over more than $ 46 million.

The government’s part of Palantir’s business grew 45% of $ 343 million, while its commercial business grew 64% yoy to $ 214 million. The company also closed 129 offers for $ 1 million or more, including 32 offers for $ 10 million or more.

No debt as well as a cash balance of $ 5.2 billion makes the company’s financial strength undeniable. Palantir now sees a year -round revenue of $ 3.74 billion to $ 3.75 billion, up from their previous guidance area of ​​$ 3.77 billion to $ 3.8 billion.

Wedbush -Analysts increased the price target of Palantir to $ 120 from $ 90 based on the company’s strong growth and its management in the AI ​​room. As the company continues to lead the artificial intelligence revolution, the trends proposed by Palantir have been unstoppable, so much that Palantir’s momentum has been no less than a 392% return in a year.

This article first appeared Gurufocus.