Palantir Technologies (NYSE: PLTR) stock rose by 9.42% at close on Tuesday. The company reported its financial results for the first quarter of 2021 before the market opened, showing that its total revenue for the quarter grew 49% YoY, which drove its stock to rebound yesterday. However, the stock was still down by 14% so far this year.
In the last financial results report, the company has given a 45% revenue growth target for the first quarter of 2021, it was not new at all. The most thing what investors care about is the profitability of the company. Although the company's net loss narrowed compared to the last quarter, it still had an increase of 128% YoY. That will restrict its stock to continue to rebound dramatically.
However, the company also mentioned that the US commercial revenue grew 72% YoY, which means the company's small and medium customers or non-government orders are growing, that will help the company to achieve large-scale profits as soon as possible.
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