Palantir, Our Top 2020s Tech Pick, Is A Rare Undervalued Tech Company

seekingalpha2021-12-03

Summary Palantir has been ignored by the market, in a world with Zoom, Tesla, and more, it no longer commands the same hype. The company has a unique market positioning, and it's continued to execute...

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免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

Guardian_J
2021-12-06
Guardian_J
Going up!!!
kPopGal
2021-12-04
kPopGal
Then can still buy now?
yngwin111
2021-12-04
yngwin111
When will shot up? Waiting long!
我是大狮子
2021-12-03
我是大狮子
因为不是华尔街IPO，所以不受待见，因为高层都在抛售，所以没有信心，说完
Tootsiejo
2021-12-03
Tootsiejo
Hodl
Nix520
2021-12-03
Nix520
👍
- Guardian_J:
  great
- YIPKF:
  Great

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The companywas our top technology pick for the 2020s, and despite the market's dislike, has continued consistently growing. As we will see throughout this article, the company is a valuable investment worth paying attention to for the long run.\nPalantir 3Q 2021 Results\nPalantir drove strong 3Q 2021 results, highlighting the company's continued business strength.\nPalantir 3Q 2021 Results - Palantir Investor Presentation\nPalantir has grown its customer count by 135% YoY, highlighting its incredibly strong business. The company added 34 net new customers in 3Q 2021, with 46% QoQ customer growth. Many of these customers are large multi-national companies or government organizations, with the ability to drive numerous $ millions in revenue.\nAn example of this is, during the quarter, the company closed 54 deals worth >$1 million, of which, an impressive 18 deals were valued at at least $10 million. Financially, the company's revenue grew by 36% YoY to almost $400 million ($1.6 billion annualized). The company tends to have two substantial growth paths of growing existing customer relations and finding new ones.\nWe feel it's hit nowhere near the market saturation or value that its business offers to potential customers.\nPalantir Building A Long-term Business\nPutting this growth together and Palantir is focused on building a long-term business.\nPalantir Long-Term Business - Palantir Investor Presentation\nPalantir is focused on growing its business and driving long-term shareholder value. The company has its total remaining deal value at $3.6 billion, representing 50% YoY growth. The company's commercial deal value more than doubled YoY and the company's remaining performance obligation almost tripled.\nThat long-term business for the company will help it balance out and drive reliable continued shareholder reviews.\nPalantir Business Deal Examples\nPalantir's business deals tend to be large and long-term, highlighting the company's value.\nPalantir Deal - Palantir Investor Presentation\nIn the most recent quarter, Palantir signed a 4-year $87 million contract with the US Department of Veteran Affairs. A primary focus here for the company is to help drive improved healthcare outcomes. Other deals include becoming the sole provider of the Army's Intelligence Data Fabric, and another long-term healthcare deal with the NIH.\nThe company is focused on continuing to make deals, using its incredibly unique software offerings to expand deals.\nPalantir Financial Picture\nPalantir is focused on significantly improving its financial picture and shareholder returns.\nPalantir Financial Picture - Palantir Investor Presentation\nPalantir has increased its FY adjusted FCF guidance to >$400 million based on its incredibly strength recently. YTD the company has seen more than $300 million, a significant improvement on 2020. The company is currently trading at roughly 100x annualized adjusted FCF, meaning the market is proving in significant growth.\nHowever, the company has been improving in all sectors. It has improved its margins dramatically YoY. The average revenue from its top 10 customers has increased from $31 million to $41 million YoY and its total customer count has increased by 20% QoQ. The company has room to continue increasing its revenue per customer and future growth.\nGoing forward, we expect the company to continue both increasing its margins and its total revenue. Its 2021 revenue target was ~40% growth, an increase from previous. The company is forecasting >30% annualized revenue growth over the next 4 with continued expansion of its 26% adjusted FCF margin to revenue.\nFrom $1.5 billion in 2021 revenue, the company anticipates reaching 2025 revenue at $4.3 billion. We see that as the lower end of its estimate, and assuming it continues its 40% growth, it could see revenue closer to the $5.5-6.0 billion range. For our purposes, we will take a slightly optimistic growth assumption and assume $5 billion in 2025 revenue.\nWe will also assume the company continues its 1% annualized margin growth and hits a 2025 adjusted FCF margin of 30% versus 26%. That's because as the company scales revenue with customers, its costs increase by less, with fixed software costs, and its margins increase. That implies 2025 adjusted FCF of $1.5 billion, a 4% FCF yield versus the current 1% FCF yield.\nThat 4-year quadrupling in FCF shows the company's impressive ability to continue driving long-term shareholder rewards. Our 2030 forecast is for a FCF based on cost today of >10% given the company's impressive asset portfolio and continued growth. That long-term sustainable growth potential highlights the re-iteration of the company as our top 2020s technology pick.\nPalantir Risk\nPalantir's risk is that the company is valued based on its future growth. The company, if its FCF would remain constant, would be heavily overvalued. While we see the company as having significant future growth potential, with its completely unique set of customer offerings, whether it stays true to that growth potential is always a risk.\nConclusion\nPalantir is a unique company in a unique market. The company is one of the few companies focused on massively providing large-scale software support to its corporate and government customers, helping to bring the latest technology into what's historically been a slow to grow field. The company's unique market here means significant long-term potential.\nWe expect the company to continue managing costs, rapidly growing existing customer revenue, and signing new customer revenue. That combination is expected to drive rapid and growing FCF, making Palantir very undervalued in our view, and a substantial long-term investment opportunity worth paying close attention to.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":608546630,"gmtCreate":1638765911328,"gmtModify":1638765911458,"author":{"id":"3577512169946317","authorId":"3577512169946317","name":"Guardian_J","avatar":"https://static.tigerbbs.com/d5732d3790ba7ded4910ae093423ed15","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3577512169946317","authorIdStr":"3577512169946317"},"htmlText":"Going up!!!","listText":"Going up!!!","text":"Going up!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608546630","repostId":1169940461,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":601448351,"gmtCreate":1638551003336,"gmtModify":1638551003446,"author":{"id":"3577278557750697","authorId":"3577278557750697","name":"kPopGal","avatar":"https://static.tigerbbs.com/e931ca3c8eeca38b70b933b8f5aaf5c8","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3577278557750697","authorIdStr":"3577278557750697"},"htmlText":"Then can still buy now?&nbsp;","listText":"Then can still buy now?&nbsp;","text":"Then can still buy now?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601448351","repostId":1169940461,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":601466660,"gmtCreate":1638547923968,"gmtModify":1638547924133,"author":{"id":"3565225896317833","authorId":"3565225896317833","name":"yngwin111","avatar":"https://static.tigerbbs.com/7b6da8ffb6e7348c5800f5edb3ff9e62","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3565225896317833","authorIdStr":"3565225896317833"},"htmlText":"When will shot up? Waiting long!","listText":"When will shot up? Waiting long!","text":"When will shot up? Waiting long!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601466660","repostId":1169940461,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":601500307,"gmtCreate":1638540799708,"gmtModify":1638540799708,"author":{"id":"3547462998639937","authorId":"3547462998639937","name":"我是大狮子","avatar":"https://static.tigerbbs.com/34e3e465a5ae67ebf258e772b658451d","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3547462998639937","authorIdStr":"3547462998639937"},"htmlText":"因为不是华尔街IPO，所以不受待见，因为高层都在抛售，所以没有信心，说完","listText":"因为不是华尔街IPO，所以不受待见，因为高层都在抛售，所以没有信心，说完","text":"因为不是华尔街IPO，所以不受待见，因为高层都在抛售，所以没有信心，说完","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601500307","repostId":1169940461,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":601664698,"gmtCreate":1638523622712,"gmtModify":1638523622830,"author":{"id":"3575535431943242","authorId":"3575535431943242","name":"Tootsiejo","avatar":"https://static.tigerbbs.com/e1ec6090a100f45863daf6da5efcf9ad","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3575535431943242","authorIdStr":"3575535431943242"},"htmlText":"Hodl","listText":"Hodl","text":"Hodl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601664698","repostId":1169940461,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":601633462,"gmtCreate":1638520272677,"gmtModify":1638520272806,"author":{"id":"3573461632438185","authorId":"3573461632438185","name":"Nix520","avatar":"https://static.tigerbbs.com/cc3063688e5a0f9b13f6f230f2a404d1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573461632438185","authorIdStr":"3573461632438185"},"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/601633462","repostId":1169940461,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6865063,"gmtCreate":1638765902135,"gmtModify":1638765902237,"authorId":3577512169946317,"author":{"id":3577512169946317,"idStr":"3577512169946317","authorId":3577512169946317,"name":"Guardian_J","avatar":"https://static.tigerbbs.com/d5732d3790ba7ded4910ae093423ed15","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":601633462,"type":1,"supId":6828853,"prevId":0,"content":"<u>great</u>","text":"<u>great</u>","html":"<u>great</u>"},{"id":6828853,"gmtCreate":1638521229366,"gmtModify":1638521229398,"authorId":3579748162894863,"author":{"id":3579748162894863,"idStr":"3579748162894863","authorId":3579748162894863,"name":"YIPKF","avatar":"https://static.tigerbbs.com/cb307b178e826c212e864c04e7018162","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":601633462,"type":1,"supId":0,"prevId":0,"content":"<u>Great</u>","text":"<u>Great</u>","html":"<u>Great</u>"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":62,"commentSize":13,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1169940461"}