What's Going On With Palantir Technologies Stock?

Palantir Technologies Inc PLTR shares are trading higher Monday morning. The stock is seeing increased attention ahead of the company's first-quarter report.

What To Know: Palantir is set to report first-quarter financial results after the close. The data software company is expected to turn in earnings of 4 cents per share on quarterly revenue of $505.6 million, according to estimates from Benzinga Pro.

In the first quarter of 2022, Palantir reported earnings of 2 cents per share, falling short of estimates of 4 cents per share, but the company did turn in better-than-expected top-line results. Revenue of $446.357 million beat estimates by approximately $3 million. 

In the company's most recent quarter, Palantir became GAAP profitable for the first time and guided for continued profitability in 2023. At the time, Palantir said it expected first-quarter revenue to be in a range of $503 million to $507 million.

Following the print, management will hold a conference call, which is set to kick off at 5 p.m. ET.

See Also: US Stocks Set For Mixed Start This Week On Inflation, Debt Ceiling Worries — But Analyst Sees A 'Turning Point'

PLTR Price Action: Palantir has a 52-week high of $11.61 and a 52-week low of $5.84.

The stock was up 3.91% at $7.70 at the time of writing, according to Benzinga Pro.

Photo: Cory Doctorow from Flickr.