Why Did Palantir Shares Plunge 11% Yesterday?
<p><a href='https://financialmodelingprep.com/financial-summary/PLTR'>Palantir (NYSE:PLTR)</a> shares fell more than 11% on Monday following the company’s reported its slowest quarterly revenue growth since it went public in 2020.</p>
<p>Q3 EPS came in at $0.01, missing the Street estimate of $0.03. Revenue was $478 million, compared to the Street estimate of $474.66 million. Strong US government contracting activity (approximately $1 billion in TCV) was the highlight in the quarter; however, given its lumpy nature and a mix of funded and unfunded contracts within total deal value the timing of when this will translate into revenue is less clear.</p>
<p>For Q4/22, the company expects revenue to be in the range of $503-505 billion, compared to the Street estimate of $502.7 billion. Analysts at Deutsche Bank lowered their price target to $7 from $8 following the earnings announcement. Until having a greater line of sight to revenue growth troughing and a more meaningful improvement in operating margins back toward prior-year levels, the analysts said they will keep their Sell rating.</p>

NYSE:PLTR