Home » Is Palantir (NYSE: PLTR) a good stock to buy now?
On Wednesday, shares of Palantir opened at $10 during the company’s debut on the New York Stock Exchange and closed at $9.50.
We are currently sitting at $7.49, more than 20% below DPO PLTR’s introductory price and day one’s closing price.
The situation is very painful. However, as a result, it turned out that PLTR has a chance of stabilizing and even gaining some momentum.
The first-quarter results for Palantir (NYSE: PLTR) were weak. However, average, ordinary, and normal are bad in this environment.
The good news is that the growth continues. For the first quarter of 2022, here are a few growth numbers:
Total revenue increased 31% year-over-year.
Commercial revenue increased 54% on a year-over-year basis.
In comparison with last year, government revenues have increased by 16 percent.
Compared to last year, the number of customers has increased by 86%.
Most analysts were expecting revenue growth of 54%, so this is not a big surprise: bulls are pleased about the 54% increase in trading revenue and the overall increase in customer numbers. On the other hand, bears are disappointed with the low growth in government revenue. However, just to be clear, government revenue is generally uneven from quarter to quarter.
It has complained that PLTR is a state-owned company. It has been claimed that PLTR was, in fact, a military contractor and did not grow commercially enough. However, PLTR’s commercial revenue has grown for five consecutive quarters in the first quarter of 2022. PLTR is also growing by 136% year over year in the US commercial segment.