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Summary
- Palantir Technologies (PLTR) stock rose 5.09% from the previous close, while Roblox Corporation (RBLX) stock ticked up 9.74% at the market close.
- Palantir is expected to report its June quarter earnings report on Thursday, August 12.
- Roblox is expected to report its June quarter earnings after the closing bell on Monday, August 16.
The stocks of Palantir Technologies (NYSE:PLTR) and Roblox Corporation (RBLX) were trending on Wall Street Monday ahead of their quarterly earnings reports.
PLTR stock rose 5.09% to US$22.93 from the previous close, while RBLX ticked up 9.74% to US$85.51 at the market close.
Let’s explore some recent developments of the two companies that may have led to their stock rally.
Palantir Technologies (PLTR)
Palantir is expected to report its June quarter earnings report on Thursday, August 12.
Investors were expecting better-than-expected quarterly results from the data analytics firm. The company had recently announced a new product for its Foundry data analytic platform. The company also develops products for the US government.
In addition, the company is extending support to the US government for the distribution of covid vaccines. The Colorado-based firm said that it would continue its support to the US Department of Health and Human Services in the vaccine distribution projects.
Its 2020 revenue had risen by 47 percent year-over-year to US$1.09 billion. Palantir Q1 2021 revenue soared 49% YoY to US$341 million from US$229 million in the same period a year ago.
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Source: Pixabay
Roblox Corporation (RBLX)
Roblox Corporation is an American technology company. The California-based company provides a platform that allows users to share their experiences with others and post content.
Roblox is expected to report its June quarter earnings after the closing bell on Monday, August 16.
Its last quarterly earnings reported on May 9 did not meet analysts' expectations despite its revenue rising by 139.5% YoY.
Also Read: Five e-commerce stocks that could beat the pandemic blues
Share Performance:
The stock of Palantir (PLTR) increased by around 149% in the last year. Its market cap is US$43.11 billion. The 52-week highest and the lowest stock price was US$45.00 and US$8.90, respectively.
Shares of Roblox Corp (RBLX) jumped by 22.68% since its debut on NYSE on March 10. Its market cap is US$48.726 billion.
Its 52-week highest and the lowest stock price was US$103.87 and US$60.50, respectively.