Tracking BioNTech (BNTX) and Palantir (PLTR) amid earnings report

Amid a downturn due to various macroeconomic factors, soaring inflation, and an impending recession, the US stocks have seen their worst in many years in 2022. Investors are closely monitoring the recent earnings to evaluate stocks in a volatile market. 

BioNTech SE (Nasdaq: BNTX) and Palantir Technologies Inc. (NYSE: PLTR) are two companies that released their quarterly earnings report on Monday, August 8.  

Here, we explore the two stocks BNTX and PLTR, to see their performances vis-à-vis their previous quarters:

BioNTech SE (Nasdaq: BNTX)

BioNTech SE is a German biotechnology company headquartered in Mainz. Nasdaq-listed BioNTech is known for developing and manufacturing immunotherapies.

The US$39.98 billion company announced on Monday that it is likely to roll out two Omicron-adapted vaccines as early as October this year.

In its second-quarter 2022 earnings report on Monday, August 8, BioNTech reported a revenue of US$3.26 billion (€3.2 billion) and a net profit of US$1.73 billion (€1.7 billion).

Its fully diluted earnings (EPS) per share in Q2 2022 was US$6.872 (€6.45). 

In the first quarter of 2022, BioNTech reported revenues of US$ 6.52 billion (€6.4 billion), and a net income of US$3.77 billion (€3.7 billion). Its fully diluted earnings per share were US$15.972 (€14.24).

The BNTX stock soared over 5.64 per cent in the past six months. However, over one year it had witnessed a steep fall of close to 60 per cent. As of August 8, 2022, Refinitiv denoted BNTX’s Relative Strength Index as 51.15. It points towards a stable market condition of the stock.

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Palantir Technologies Inc. (NYSE: PLTR)

Palantir Technologies is a US software company specializing in big data analytics. The Denver, Colorado-based company Palantir has a market valuation of US$ 20.21 billion. 

Palantir Technologies reported its Q2 2022 results on Monday, August 8, posting a growth of 26 per cent in revenue year over year (YoY). The commercial gain of the company grew 120 per cent YoY.  

Palantir earned a revenue of US$473.01 million in Q2 2022, compared to US$446.35 million in the year-ago quarter.

The data analytics company, however, posted a net loss of US$179.32 million in the second quarter, compared to a Q1 2022 net loss of US$101.37 million.  

The value of the PLTR stock has diminished by over 38 per cent this year so far. However, it saw a rise of nearly 20 per cent in the past month. A Refinitiv RSI (Relative Strength Index) rating of 48.05 as of August 8, 2022, points toward the volatility of the PLTR stock.

Bottom line:

BioNTech’s revenue slumped by almost 40 per cent in Q2 2022 compared to the year-ago quarter. Palantir shares also dropped on Monday after their Q2 2022 earnings report. 

However, the current earnings of most of the companies have turned out to be better than expected, bringing some cheer to Wall Street. Still, investors should do their due diligence before picking up any stocks.