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Big data management and analytics software company, Palantir Technologies Inc . (NYSE:PLTR), generated a 35.5% year-over-year increase in revenue to $392.15 million in its last reported quarter. However, its stock has declined more than 15% in price since the company reported its third-quarter results on November 9. Citi analyst Tyler Radke said that PLTR’s decelerating growth “came into center view” in the third quarter, with weakness in both commercial and government. The stock is currently trading below its 50-day and 200-day moving averages, indicating a downtrend. Furthermore, analysts expect its EPS to decline 25% in the current year.
Therefore, we think fundamentally sound big data stocks SAP SE (DE:SAPG) (SAP) and International Business Machines Corporation ( IBM ) could be better picks to cash in on the industry’s growth. These stocks are rated ‘buy’ in our proprietary rating system.
