Palantir stock falls after issuing revenue shortfall warning

Yahoo Finance Live checks out Palantir shares after warning of a potential revenue miss.

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- All right, my pick today is Palantir. It's the top trending ticker on Yahoo Finance. Shares sinking, now off just around 11% after the company warned that it expects to miss its 30% revenue growth target this year, raising questions about Palantir's ability to expand beyond its core government base. Now, today's drop is the biggest decline that we've seen in just about three months.

Analysts are bracing for more challenges ahead. Citi seeing further downside, writing in a note today that Palantir trades at a premium to peers. They also expect fast accelerating growth and continued uncertainty in government inflection into next year. So Jared, when you're looking at losses today, clearly the street pretty worried about the results that we just got.

- Yes. And on a technical basis, it looks like it's testing those lows for me. I'm looking at on the YFi Interactive. But when you come down really hard against a level not necessarily thinking that it will hold, here's a max chart that was year-to-date, and you can see well below the initial price offering that it had way back in 2020.