What's Going On With Palantir Stock Monday?

Palantir Technologies Inc PLTR shares are in the spotlight Monday ahead of earnings after the bell. Here’s a look at what you need to know.

What To Know: Palantir is due to report fourth-quarter financial results after the market close on Monday. The company is expected to report earnings of 11 cents per share and revenue of $775.91 million, according to estimates from Benzinga Pro.

Palantir shares rallied more than 300% in 2024, driven by the company’s positioning in the AI space. The stock has nearly doubled since the company reported third-quarter results showing that revenue jumped 30% year-over-year on continued strength in the U.S. The company's customer count also grew 39% after Palantir closed 104 deals worth over $1 million during the period on the back of "unrelenting" AI demand. 

"The growth of our business is accelerating, and our financial performance is exceeding expectations as we meet an unwavering demand for the most advanced artificial intelligence technologies from our U.S. government and commercial customers,” Palantir CEO Alex Karp said in a letter to shareholders last quarter.

Palantir shares bounced back from a selloff last week as investors feared Chinese startup DeepSeek could challenge America's AI leadership position. The company reportedly developed its open-source LLM in a couple of months at a much lower cost than competitors. DeepSeek’s AI Assistant app also overtook OpenAI’s ChatGPT as the top-rated free app in Apple’s App Store last week.

In a CNBC interview on Friday, Karp indicated that the DeepSeek news shows that the U.S. needs to develop advanced AI at a faster pace, although he suggested that the cost estimates surrounding the development of DeepSeek are likely inaccurate.

Check This Out: Palantir Q4 Earnings Countdown: Bullish Charts Vs. Bearish Analysts

PLTR Price Action: Palantir shares were down 4.05% at $79.15 at the time of publication Monday, according to Benzinga Pro.

Photo: Shutterstock.