Why Can't Palantir Reverse Its Downtrend? PLTR Stock
Palantir Technologies (PLTR) is getting hit hard by sellers after the company missed earnings expectations slightly in Q4. Its revenues did beat estimates, and its Q1 2022 sales guidance was above consensus, but those were not enough to garner investor enthusiasm, especially when PLTR trades at an eye-watering 62x forward earnings.
The software-based company, which provides data analytics tools for governments and private organizations, has been stuck in a long downward trend. After shares initially sky-rocketed over 400% about four months after the company's September 2020 DPO, they have since cooled off significantly, falling back toward their DPO price of $10. In fact, as of yesterday's close, PLTR stock had dropped over 24% to start the year.
So why has the stock been unable to get back on its feet even after the company presented solid revenue growth and upbeat guidance in Q4?
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