Palantir Technologies Inc. (PLTR) Core Growth Drops Below 25%, William Blair Reiterates Underperform

William Blair analyst Kamil Mielczarek reiterated an Underperform rating on Palantir Technologies Inc. (NYSE: PLTR) after revenues decelerated in the quarter to 36% year-over-year, down from 49% in the first half of 2021.

The analyst stated "Palantir revenue growth likely decelerated to less than 30% year-over-year, below the company’s full-year and long-term growth targets. We estimate that fourth-quarter guidance, excluding strategic investments, implies less than 25% year-over-year growth. While Palantir has done a great job driving free cash flow and has potential to maintain solid double-digit growth long term, we remained concerned about the business’s ability to maintain 30% organic growth over the near term. In this report, we include our key takeaways from the quarter, analyze total deal value as a leading indicator, and estimate Palantir’s growth excluding strategic investments."

For an analyst ratings summary and ratings history on Palantir Technologies Inc. click here. For more ratings news on Palantir Technologies Inc. click here.

Shares of Palantir Technologies Inc. closed at $24.25 yesterday.

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