Palantir shares tumble after results fail to impress

Palantir Technologies PLTR.O stock dipping 12.3% on Tues after qtrly results and raised forecast failed to satisfy investors' high expectations following shares' recent rally

The AI-focused data co's rev grew 39% in Q1 to $883.9 mln, exceeding consensus analyst estimates of $862.8 mln, driven by strong U.S. govt contracts

Co now expects full-year rev between $3.89 bln and $3.90 bln, up from its earlier forecast of sales between $3.74 bln and $3.76 bln. Analysts on average expect $3.75 bln

Morningstar analyst Mark Giarelli says "respectable earnings beats" not enough to drive further stock gains

PLTR stock surged 43% YTD, outperforming Nasdaq .IXIC, which fell 8% in same period

Stock is about 14% below its 52-week intraday high of $125.41 reached on Feb. 19, 2025

At least 9 brokerages raised price target for PLTR, bringing PT median to $96.46