Is Palantir Technologies Stock a Buy Now?
Palantir's (NYSE: PLTR) stock price sank 5% on Aug. 8 in response to the release of the company's second-quarter report. The data mining firm's revenue rose 13% year over year to $533 million. It generated an adjusted net profit of $120 million, compared to an adjusted net loss of $21 million a year earlier, which trickled down to an adjusted profit of $0.05 per share. Its top- and bottom-line figures both matched Wall Street's expectations.
On a generally accepted accounting principles (GAAP) basis, Palantir posted a net profit of $28 million, compared to a net loss of $179 million a year earlier, and achieved its third consecutive quarter of GAAP profitability. Those headline numbers were solid, but Palantir's stock had already rallied 180% year-to-date ahead of its second-quarter report -- so the bulls might have been expecting a much bigger earnings beat.
Should investors buy Palantir's stock after its post-earnings pullback?
Source Fool.com
