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Summary
- Stocks of Palantir Technologies Inc jumped over 25 per cent on Friday, January 22, to close at an all-time high of US$ 32.58.
- Since its big Wall Street debut in September last year, Palantir saw its scrips surge by over 225 per cent in the last four months.
- Palantir stocks have recorded a growth of over 38 per cent this year and of nearly 237 per cent in the last three months.
- Investors seem to be excited about Tuesday’s Demo Day event, where Palantir will reveal some details about its software and government clients.
Stocks of software service provider Palantir Technologies Inc (NYSE: PLTR, PLTR:US) jumped over 25 per cent on Friday, January 22, to close at an all-time high of US$ 32.58. Since its big Wall Street debut in September last year, Palantir saw its scrips surge by over 225 per cent in the last four months.
At the time of writing, Palantir stocks were up nearly 14 percent after markets opened on Monday morning (9:45AM EST).
Palantir Technologies Inc is a Denver-based software startup that focuses on big data analytics and data-driven operations. The company went public on September 30 last year, launching its shares for trading on the New York Stock Exchange. Its opening price, at US$ 10 apiece, saw a nearly 38 per cent jump from its “reference price” of US$ 7.25.
The tech startup has not shared any particular operational development news recently, apart from announcing a new Board member and the date of its inaugural Demo Day (to be held on January 26) on Thursday.
Investors seem to be upbeat about the Demo Day, during which Palantir will give a glimpse of its software usage and announce names of its commercial and government customers, including defense agencies. The company mostly operates in secrecy and this event could be a big game changer on its public perception.
Let’s take a closer look at Palantir Technologies’ stock and financial profiles.
Palantir Technologies Inc (NYSE: PLTR, PLTR:US)
Current Stock Price: US$ 32.58
Palantir stocks have recorded a growth of over 38 per cent this year and of nearly 237 per cent in the last three months. The stocks currently post an average trading volume of 54.5 million for the last 10 days and that of 69.5 million for the last 50 days.
©Kalkine Group 2021
The company stands at a market value of US$ 56.7 billion. As per the data available on the TMX Group platform, Palantir stocks have a price-to-book ratio of 48.88, a price-to-cashflow ratio of 99.54 and a debt-to-equity ratio of 0.16.
Palantir Technologies posted a 52 per cent year-over-year (YoY) revenue growth to US$ 289.4 million for the third quarter ending 30 September 2020, its first earnings report since becoming a public company.
Palantir, a name derived from the magical ‘palantíri’ stones in The Lord of the Rings which are often used to look into the past or the future, counts the US government as its primary area of focus for business.
