Palantir's Q3 2020 earnings report was strong for many reasons.
In addition to the financials, there's wonderful marketing and strategy.
One red flag is identified and discussed; we must watch this item.
EPS of $0.0645 beats by $0.04
Revenue of $289.37M beats by $10.05M
PLTR helped a customer generate $57 million of cash savings
One customer expects to generate $1 billion on an annualized basis
A top 5 pharmaceutical company is linking data from 2,000+ clinical trials
Signed $300 million, five-year renewal with an aerospace customer
Signed a two-year, $91 million contract with U.S. Army Research Lab
Signed a $36 million contract to support NCATS efforts
Revenue grew by 52% year over year in Q3 2020
Average revenue per customer was up 38% YoY
Adjusted operating income was $73 million
Adjusted operating margin was 25%
Revenue per customer grew while customer concentration decreased
The commercial business grew 35% year over year
The government business grew 68% year over year
Gross margin, excluding stock compensation, was 81% (vs. 70% in 2019)
The balance sheet holds ~$1.8B as of 30-September, 2020
Seeing a balanced risk/reward at the current valuation, Morgan Stanley downgrades Palantir from Overweight to Equal-Weight but raises the price target from $13 to $15.
Analyst Keith Weiss does praise PLTR's commercial revenue growth acceleration, solid new government contracts, and operating margin strength in the "solid first quarter out of the gate."
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Summary
Palantir's Q3 2020 earnings report was strong for many reasons.
In addition to the financials, there's wonderful marketing and strategy.
One red flag is identified and discussed; we must watch this item.
EPS of $0.0645 beats by $0.04
Revenue of $289.37M beats by $10.05M
PLTR helped a customer generate $57 million of cash savings
One customer expects to generate $1 billion on an annualized basis
A top 5 pharmaceutical company is linking data from 2,000+ clinical trials
Signed $300 million, five-year renewal with an aerospace customer
Signed a two-year, $91 million contract with U.S. Army Research Lab
Signed a $36 million contract to support NCATS efforts
Revenue grew by 52% year over year in Q3 2020
Average revenue per customer was up 38% YoY
Adjusted operating income was $73 million
Adjusted operating margin was 25%
Revenue per customer grew while customer concentration decreased
The commercial business grew 35% year over year
The government business grew 68% year over year
Gross margin, excluding stock compensation, was 81% (vs. 70% in 2019)
The balance sheet holds ~$1.8B as of 30-September, 2020
Seeing a balanced risk/reward at the current valuation, Morgan Stanley downgrades Palantir from Overweight to Equal-Weight but raises the price target from $13 to $15.
Analyst Keith Weiss does praise PLTR's commercial revenue growth acceleration, solid new government contracts, and operating margin strength in the "solid first quarter out of the gate."
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