Palantir Stock Is Surging Tuesday: What's Going On?

Palantir Technologies Inc (NASDAQ:PLTR) shares are trading higher Tuesday after the company reported better-than-expected financial results for the fourth quarter and issued strong guidance. Several analysts also lifted price targets following the print.

• Q4 Revenue: $827.52 million, versus estimates of $775.91 million

• Q4 EPS: 14 cents, versus estimates of 11 cents

Total revenue grew 36% year-over-year, driven by strong U.S. revenue growth of 52% year-over-year. U.S. Commercial revenue increased 64% year-over-year to $214 million and U.S. Government revenue was up 45% year-over-year to $343 million.

Palantir's customer count grew 43% year-over-year and 13% on a quarter-over-quarter basis. The company said it closed 129 deals worth over $1 million during the quarter and 58 deals worth at least $5 million.

Palantir generated $460 million in cash from operations and $517 million in adjusted free cash flow in the quarter. The company ended the quarter with ...

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