Shares of Palantir Technologies (PLTR 5.81%) are falling today regardless of gains for the wider market. The company’s stock was down roughly 4.8% since 12:40 p.m. ET Wednesday together with the announcement of a brand-new collaboration with Jacobs Engineering Group (J 0.14% ). On the other hand, Jacobs’ share price was up approximately 2.8%.
Palantir stock news has actually been unpredictable in recent months and has actually seen particularly unstable trading following its fourth-quarter report in mid-February, so it’s hard to say how much these days’s activity is linked to the information of the Jacobs partnership or various other drivers at play.
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Photo resource: Getty Images.
Jacobs released a news release today announcing that it had created a collaboration with Palantir to create information as well as modern technology options for the facilities and also nationwide safety markets. The very first software program generated by the companions will certainly be a data-analytics offering for public- and also private-sector consumers in water-infrastructure services. It will focus on utilizing information analysis to enhance the procedure and maintenance of water and also wastewater treatment plants.
That rarely sounds like bad news in its very own right, yet financiers could be attracting unfavorable reasonings regarding what the collaboration suggests about Palantir’s capabilities and also development outlook.
Palantir stock has actually slipped roughly 17% since the business reported its fourth-quarter outcomes on Feb. 17. It handled to grow income 34% year over year to get to $433 million, however investors were extensively dissatisfied to see revenue from government customers grow only 26% year over year in the period.
Instead of seeing the brand-new collaboration with Jacobs as a chance to increase growth in the infrastructure-services space, it seems the marketplace could be dissatisfied that Palantir isn’t prepping options on its own or collaborating with another possible companion.
Palantir currently has a market capitalization of about $24 billion and is valued around 12 times this year’s expected sales as well as 59 times anticipated adjusted profits.