PLTR Results “for the Most Part Were Really Good,” Schwab Correspondent Says

After Palantir (PLTR) reported in-line first-quarter earnings per share and higher-than-expected Q1 revenue, Schwab Network Senior Markets Correspondent Kevin Green said on the network that PLTR’s results were “for the most part really good.”

The stock is struggling because the company failed to meet investors’ elevated expectations for the name, he said.

Green Notes PLTR’s Impressive Metrics

The company’s top line jumped 39% in Q1 versus the same period a year earlier, with its commercial revenue soaring 71% year-over-year and its government revenue jumping 45% YOY, Green noted. Additionally, the firm raised its full-year revenue guidance and increased its Q2 top-line outlook, he reported.

Why PLTR Stock Is Struggling

“The stock was near its all-time highs” heading into the results, and the firm’s guidance was not sufficiently impressive to raise investors’ enthusiasm enough to boost the stock, Green reported.

“There was a very high bar” for PLTR heading into the report, he asserted.

But PLTR stock “has been holding up well” in general, the correspondent added.

The Recent Performance of PLTR Stock

In the last month, the shares have surged 38%, while they have gained 3% in the last three months.

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This article is originally published at Insider Monkey.