Palantir Technologies Inc. (NASDAQ:PLTR) CEO, Alex Karp, praised the retail investor community that’s been rallying behind the company in recent years, crediting their early support as being key to the company’s rise.
Check out the current price of PLTR stock here.
What Happened: On Monday, during the company’s second-quarter earnings call, Karp said that this support helped in building momentum that eventually translated into long-term business impact.
“There would have been no DPO (direct public offering). We would not have gone from our low share price to now. We would not have many of the clients we have and we wouldn't have some of the pride we have without you,” he said.
When asked if he had any message for the company’s massive retail investor base, Karp responded, saying, “Maybe stop talking to all the haters. They're suffering.”
He further asked retail investors not to discuss how great the journey’s been for them, or “how much fun it is to send, to write little emails to analysts that spent twenty years learning about software and have been wrong about every quarter.”
Why It Matters: Even as the stock touches new all-time highs, leading analysts continue to remain bullish, with CNBC’s Jim Cramer initiating a new Price Target of $200 per share, and Dan Ives of Wedbush Securities, predicting a $1 trillion market cap within the next two to three years.
The company released its second quarter results on Monday, reporting $1.004 billion in revenue, up 48% year-over-year, and ahead of consensus estimates at $939.71 million. Profits during the quarter stood at $0.16 per share, against an analyst consensus of $0.14 per share.
Price Action: Palantir shares were up 4.14% on Monday, closing at $160.66, and are up another 4.57% after hours, following the earnings announcement after markets closed.
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According to Benzinga’s Edge Stock Rankings, Palantir scores high on Momentum and Growth, with a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.
