Why Is Palantir (PLTR) Stock Falling After a Q3 Beat and a Guidance Raise?

TLDR Palantir stock traded at $169.11 in premarket Tuesday, down about 5% from Monday’s $178.34 close. Q3 revenue rose 96% to $2.313 billion, beating the $2.17 billion estimate. Full-year revenue guidance now sits between $8.530 billion and $8.534 billion. US commercial revenue topped US government revenue for the first time. Mizuho kept an Outperform rating with a $245 price target. Palantir (PLTR) stock traded at $169.11 in premarket on Tuesday, down about 5% from Monday’s close of $178.34. The drop came after a strong third quarter report. Palantir Technologies Inc., PLTR The company beat Wall Street estimates on revenue and profit on Monday. It also raised its full-year revenue outlook. Q3 revenue hit $2.313 billion, up 96% from a year ago. Analysts had expected $2.17 billion, according to Bloomberg data.

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