Palantir soared more than 10% after strong Q2 results

Palantir Technologies (PLTR.US) jumped more than 10% during today’s US session after its second-quarter results turned out to be exceptionally strong. 

The analytics software company reported quarterly revenue of $376 million, up 49% from a year ago and above both the company’s target of $360 million and Wall Street consensus estimate of $361 million. On an adjusted basis, the firm earned 4 cents per share (vs consensus estimate of 3 cents per share). Adjusted EBITDA amounted to $121 million, beating the consensus of $86 million while adjusted operating margin was 31% (vs company’s forecast of 23%). 

Total contract value booked was up 168% to $901 million. Palantir expects revenue of $385 million for the September quarter, ahead of Wall Street’s consensus of $380 million. 

Taking a look at Palantir’s (PLTR.US) technicals on the daily chart, one might spot that shares have been trading sideways recently. However, the price is making a rebound after strong earnings. Today’s bullish gap pushed the price above the 23.6% Fibo retracement of the drop started in late-January. The area near $27.45 seem to be a critical resistance (two local peaks) - the next Fibonacci retracement may be found just slightly above. Recently the volume has been on the rise as well. Source: xStation5