Long Position on PLTR @ $16.75 on 8/9/2023 (Fundamentals)

Palantir Technologies Inc. (PLTR) builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 

The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

It also offers Palantir Foundry, a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place.

In addition, it provides Palantir Apollo, a software that enables customers to deploy their own software virtually in any environment. Shares are heading higher in an upward trading channel as shown. On August 7th, PLTR reported earnings of $0.05 per share on revenue of $533.32 million for the second quarter ended June 2023. The consensus earnings estimate was $0.05 per share on revenue of $530.63 million. Higher share prices are expected. 

The company said it expects third quarter revenue of $553.0 million to $557.0 million. The current consensus revenue estimate is $551.26 million for the quarter ending September 30, 2023. The company also said it now expects 2023 revenue to be in excess of $2.212 billion. The company's previous guidance was revenue of $2.185 billion to $2.235 billion and the current consensus revenue estimate is $2.21 billion for the year ending December 31, 2023.

Entry Point: $16.75

Stop Loss: $15.80

Trading Range: $5.92 - $20.24

Target Price: $18.75 

Position closed on 8/10/2023 at price of $15.80 with a -5.67% loss in 0 days.

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