BUZZ-Palantir slides from record after Q3 results, rev outlook beat expectations

Reuters11-04
BUZZ-<a href="https://laohu8.com/S/PLTR">Palantir</a> slides from record after Q3 results, rev outlook beat expectations

** Shares of Palantir Technologies PLTR.O down 7.3% at $192.13 despite qtrly results that surpassed Wall Street's expectations

** PLTR stock on course for biggest one-day pct drop since Oct 3 after rising 3.4% to record high close $207.18 on Mon

** After the bell Mon, data analytics firm posted Q3 rev of $1.18 bln, up 63% y/y, and adj EPS of 21 cents, topping LSEG estimates of $1.09 bln and EPS of 17 cents, on solid AI demand

** Its Q4 rev outlook of $1.327-$1.331 bln also beat what analysts had modeled

** Heading into the report, investors had questioned the stock's rich valuation

** Still, at least 8 brokerages hiked their PTs following the report: BofA Global Research boosts PT from $215 to Street-high $255; Morgan Stanley goes from $155 to $205

** Avg rating among 26 brokerages is "hold"; median PT of $189 up from $165 a month ago

** Including move on the session, PLTR stock up about 155% YTD and about 370% over the past year

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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