Palantir to Begin Trading on NYSE Next Wednesday - TheStreet

Palantir to Begin Trading on NYSE Next Wednesday

Palantir, which sells data-analytics software, expects its stock to begin trading on the New York Stock Exchange on Sept. 30.
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Palantir Technologies, which sells data-analytics software, announced it expects its stock to begin trading on the New York Stock Exchange next Wednesday, Sept. 30.

In a statement, Palantir said its share price averaged $9.17 volume-weighted in private sales on Sept. 1. That indicates a valuation of about $19 billion for the company ahead of its initial public offering, Barron’s reported.

Palantir also provided earnings estimates for the third quarter, and for 2020 and 2021.

For the third quarter, it forecast revenue of $278 million to $280 million, representing year-over-year growth of 46% to 47%.

It predicted non-GAAP operating income of $60 million to $62 million, excluding stock-based compensation, related payroll tax expenses and approximately $54 million of one-time expenses related to the direct listing.

The company also sees non-GAAP operating income of $6 million to $8 million, excluding stock-based compensation and related payroll tax expenses but including the one-time direct listing expenses.

For all of 2020, Palantir estimated revenue at $1.05 billion to $1.06 billion, representing year-over-year growth of 41% to 43%.

Palantir put non-GAAP operating income at $116 million to $126 million, excluding stock-based compensation, related payroll tax expenses and the approximately $54 million of one-time expenses related to the listing.

The company said it expects non-GAAP operating income at $62 million to $72 million, excluding stock-based compensation and related payroll tax expenses and including the one-time direct listing expenses.

Palantir projects full-time employee headcount growth of 4% from the end of 2019.

For all of 2021, the company expects year-over-year revenue growth of greater than 30%.