|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||182.83 - 182.83|
|52-week range||127.98 - 193.70|
|Beta (5Y monthly)||0.96|
|PE ratio (TTM)||19.96|
|Forward dividend & yield||2.03 (1.11%)|
|Ex-dividend date||29 Sept 2021|
|1y target est||N/A|
The ranking celebrates 100 senior people of colour who are leading by example and are removing barriers on the pathway to success for ethnic minority employees.
(Bloomberg) -- Palantir Technologies Inc. expects sales to grow 43% in the second quarter, showing new distribution deals are putting its data analysis software into the hands of more customers.Revenue will reach $360 million in the period ending in June, the company said in a statement Tuesday. Shares gained 9.4% to close at $20.21 in New York.With more cash flowing in, the Denver-based company said it’s embracing a newer form of currency: Bitcoin. Palantir accepts customer payments in Bitcoin and is debating whether to use company cash to purchase the asset, Chief Financial Officer David Glazer said on a conference call with analysts. Such a move would follow similar ones by Square Inc. and Tesla Inc., which helped drive a surge in Bitcoin prices.The results provided some signs of encouragement after a prolonged slump for the company. At the close of trading Monday, the shares had reached their lowest point in almost six months, reflecting a sharp turn away from technology stocks by investors worldwide over concerns about inflation.Co-founders Peter Thiel and Alex Karp started Palantir with a focus on providing tools and consulting to the U.S. and allied governments. Palantir has overhauled its software in recent years to court more businesses and lower prices for customers.The company has placed a great deal of emphasis on growth, which shows in the results. In the first quarter, revenue increased 49% to $341 million, beating estimates.However, Palantir said compensation costs ballooned, contributing to a loss in the first quarter that was wider than expected. The loss was 7 cents a share as stock-based compensation more than tripled in the period that ended in March.Palantir said it signed 11 new commercial customers during the quarter and invested in two customers with long term potential: Sarcos Robotics and aviation startup Lilium. Chief Operating Officer Shyam Sankar said both companies built operations around Palantir’s Foundry software “from day zero.” “Manufacturing is a huge focus for us and one of deep strength,” he said.New customers, including Pacific Gas and Electric Co. and the U.S. National Nuclear Security Administration, drove first-quarter sales, along with expanded agreements with existing customers such as 3M Co., BP Plc and the mining company Rio Tinto Plc.Palantir expanded its small sales team during the previous quarter, bringing on 50 sales people, and struck partnerships with International Business Machines Corp. and Fujitsu Ltd. to re-sell its technology and with Amazon.com Inc.’s Web Services to support it.The company maintained an earlier forecast for annual revenue growth of 30% or more through 2025. Palantir reported U.S. government revenue grew 83% in the first quarter, while sales from U.S. businesses increased 72%. It didn’t disclose the global breakdown of the two business divisions.(Updates with executive comments starting in the third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Palantir Technologies Inc., struggling to sell its data software to companies, forecast annual sales growth of at least 30%. That suggests a significant slowdown from last year.By comparison, sales growth in 2020 was 47%, reaching $1.1 billion and exceeding an average of analysts’ estimates compiled by Bloomberg. “The trajectory of growth in 2021 implies a significant deceleration,” Citi wrote in a note to clients.Work with government agencies continues to dominate for the Denver-based company. Corporate revenue increased 4% in the fourth quarter, while government sales jumped 85%, the company said in a statement Tuesday. Shares were down about 9% during morning trading in New York.Investors expressed worry about whether the performance would convince longtime shareholders to stick around when a lockup on the sale of stock lifts later this week. Peter Thiel co-founded the company with Chief Executive Officer Alex Karp in 2003, and some stockholders have been waiting a long time to sell on the open market. Four-fifths of all shares will be eligible to trade for the first time later this week, which could result in high volatility.Government demand for Palantir software has surged during the coronavirus pandemic. More than a dozen government agencies use it to anticipate Covid-19 hotspots, allocate protective equipment and distribute vaccines. At the same time, calls to curb use of the software have intensified, citing invasions of privacy and the potential for misuse.In the past, Palantir operated more like a consulting firm sending staff to customers’ offices and helping them set up and use the software. Companies didn’t like this arrangement as much as government officials did, and they didn’t like the cost -- nor did many investors.The company began overhauling its systems in 2017, automating the setup process and more recently giving customers the choice to only purchase the parts of the software they want. These changes decreased costs and paved the way for Palantir to strike deals with Airbus SE and BP Plc and to sign partnerships with Fujitsu Ltd. and International Business Machines Corp.But businesses still aren’t embracing Palantir in the way governments have. In the period that ended in December, Palantir signed a contract with the U.S. Food and Drug Administration to help power drug reviews and inspections and expanded deals with the U.S. Army and the U.K. National Health Service.Karp struck an upbeat tone in a prerecorded videos for investors, featuring him in a blue ski parka walking through a snowy forest. He condemned “near-term myopism” and said, “At Palantir, we’ve rejected this in every way.”“Palantir’s numbers are a lagging indicator of several macro trends that we got right,” Karp said. “Software is the language of our time, and mastery of software will determine what works and what doesn’t. The numbers that you’ve seen are a reflection of our bet that this would happen.”For the year, Palantir posted a first-ever adjusted operating profit, ending nearly two decades of sustained losses at the company. Annual operating income in 2020, excluding stock-based compensation and other items, was $190 million. It continues to lose money when accounting for those expenses.Despite the more conservative forecast for the year, Palantir expects to maintain momentum in the first quarter. It issued a sales growth forecast for the period of 45%. The company said it will exceed $4 billion in annual revenue by 2025.(Updates with forecast starting in the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.