Why Palantir Technologies Shares Are Falling

Shares of several software companies, including Palantir Technologies Inc PLTR are trading lower in sympathy with Asana ASAN and DocuSign DOCU after the companies reported their third-quarter earnings results.

Asana reported quarterly losses of 23 cents per share which beat the analyst consensus estimate of a loss of 26 cents per share. The company reported quarterly sales of $100.30 million which beat the analyst consensus estimate of $93.86 million by 7%.

DocuSign reported quarterly earnings of 58 cents per share which beat the analyst consensus estimate of 46 cents per share. The company reported quarterly sales of $545.46 million which beat the analyst consensus estimate of $530.63 million by 3%.

Palantir Technologies provides organizations with solutions to manage large disparate data sets in an attempt to gain insight and drive operational outcomes.

Palantir has a 52-week high of $45.00 and a 52-week low of $17.06.