Palantir Technologies Inc. (PLTR) Reports Progress on Generating Durable Growth - Morgan Stanley
- Tech-heavy Nasdaq ignores hawkish Fed news to advance
- Dollar extends gains on Fed boost
- Ford (F) Gains as it Expects Adjusted Q2 Profit Ahead of Expectations
- BofA Fund Manager Survey: 72% Says Inflation 'Transitory', 63% Expect Fed to Signal Taper Aug/Sept, 'Long Commodities' Now the Most Crowded Trade
- Oil tumbles 3% from multi-year highs on stronger dollar
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
Morgan Stanley analyst Keith Weiss reiterated an Underweight rating and $19.00 price target on Palantir Technologies Inc. (NYSE: PLTR) after overall commercial growth accelerated to 19% YoY, up from the 4% YoY growth last quarter. Customer additions are starting to accelerate as well with 11 new commercial customer in the quarter (10 net new) taking the total to 149. This substantially exceeded the 4 net new customers added in all of FY20.
The analyst summed up his position on the stock, stating "76% YoY growth in Government drove the Q1 strength, improving commercial customer adds (+11), accelerated sales hiring and building commercial pipelines look to be the building blocks for more durable growth ahead. However, at
22X EV/ CY22 Sales, durable growth is already well priced in."
Shares of Palantir Technologies Inc. closed at $20.21 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nippon Yusen Kabushiki Kaisha (9101:JP) (NPNYY) PT Raised to JPY6,750 at Nomura/Instinet
- CyberAgent Inc. (4751:JP) (CYGIY) PT Raised to JPY2,700 at Macquarie
- Toray Industries, Inc (3402:JP) (TRYIY) PT Raised to JPY800 at Nomura/Instinet
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesMorgan Stanley
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!