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Palantir (NYSE:PLTR) has harnessed the winds of the artificial intelligence (AI) revolution, emerging as a phoenix with its stock soaring by a staggering 40% this year. The echoes of the company’s success reverberated louder after the unveiling of its fourth-quarter earnings, showcasing a robust 32% surge in annual commercial revenues along with a formidable 70% upsurge in U.S. commercial revenues. Doubts surrounding commercial revenue growth were swiftly dispelled by Palantir’s stellar performance, propelling its total quarterly revenue to $608.35 million, representing a bullish 20% uptick.
The icing on the cake? Palantir stands tall in the realm of profitability, boasting a GAAP EPS of 4 cents and basking in the glow of five consecutive quarters of profit-making prowess.
Investors gleefully embraced Palantir’s guidance, as the company charted a course to even greater heights. Forecasts for Q1 of 2024 reveal revenue expectations between $612 and $616 million, while adjusted income from operations is poised to dance between $196 and $200 million. Looking ahead to 2024, Palantir projects revenue in the range of $2.652 and $2.688 billion, with a robust U.S. commercial revenue growth target of at least 40%. The melody of profitability continues to play, with positive GAAP operating and net income anticipated in each forthcoming quarter.
Stalwart Supporters: 5 Investors Betting Big on PLTR Stock
Delving into the realm of institutional ownership reveals a landscape dotted with key players steering the course of PLTR stock. Institutional investors, often the bedrock of stock support, have cast their lots with Palantir, underscoring their unflinching faith in the company’s trajectory.
The fourth quarter saw 979 13F filers unveil their stake in PLTR, marking a notable 9.75% surge of 87 filers from the preceding quarter. These sharp spikes mirrored a 6.42% uptick in total shares owned, soaring to 859.79 million from 807.92 million.
Conversely, hedge funds, a crucial cohort in the investment landscape, displayed a tempered bullishness. Despite a palpable 11% rise in total hedge fund owners to 181, their total exposure took a slight dip, sliding by 4.27% to 197.71 million shares from 206.53 million.
Now, setting the stage for a grand reveal, let’s unveil the power players in Palantir’s shareholder arena:
- Vanguard: 193.80 million shares. Clocking in with 6.46 million acquired shares during Q4.
- Peter Thiel: 148.92 million shares. Thiel recalibrated his stake, shedding 14.53 million shares compared to his prior disclosure.
- BlackRock (NYSE:BLK): 112.52 million shares. Onward with an acquisition of 7.04 million shares in Q4.
- Renaissance Technologies: 43.59 million shares. Marching forward after a sale of 13,227 shares in Q4.
- State Street (NYSE:STT): 39.84 million shares. Joining the bandwagon with an addition of 2.82 million shares in Q4.
As of the publication date, Eddie Pan did not hold any positions—directly or indirectly—in the securities mentioned. The viewpoints articulated in this discourse fall under the purview of the InvestorPlace.com Publishing Guidelines.
