Why Palantir (PLTR) Shares Are Up Nearly 30% This Week

Palantir Technologies Inc PLTR shares are trading higher by 27.98% to $9.76 over the trailing five sessions. The stock experienced marked gains after Palantir this week reported strong first-quarter results and said it expects to remain profitable each quarter through the end of the year.

The stock also received a number of analyst rating updates following the earnings print.

What Happened?

Palantir Technologies reported quarterly earnings of 5 cents per share which beat the analyst consensus estimate of 4 cents.

The company also reported quarterly sales of $525.19 million which beat the analyst consensus estimate of $505.60 million by 3.9%. This sales figure is a 17.7% increase over sales of $446.36 million in the same period last year.

U.S. revenue grew 23% year-over-year. Commercial revenue was up 15%, and government revenue climbed 20%. Palantir's total customer count increased 41% year-over-year. U.S customers jumped 50%...Read More

According to data from Benzinga Pro, PLTR has a 52-week high of $11.62 and a 52-week low of $5.92.