Why Palantir Technologies [NYSE: PLTR] Stocks Are Crashing Today?

Shares of Palantir Technologies Inc. [NYSE: PLTR] plunged during the pre-market trading session of Tuesday. The negative performance of the firm is the reaction of its investors after the firm disclosed the financial results for the first quarter completed on March 31, 2021. Palantir Technologies has provided the highlights for the Q1.

PLTR disclosed that its total revenue for the period ending on March 31, 2021, reached 49% YOY to $341 million. Its cash flow from operations of $117 million, raise $404 million YOY and signifying a 34% margin. Its Adjusted free cash flow of $151 million, raise $441 million YOY. It signifies a 44% margin.

Shares of Palantir Technologies Inc. plunged -10.23% as it lost -1.84 at the time of writing on Tuesday. The firm has recorded a trading volume of 3.36 million at the time of writing. In the past 52-weeks of trading, the share of the firm wavered $8.90 and $45.00 between the 52-week of low and high range, respectively.

Palantir Technologies has a total market capitalization of $35.08 billion at the time of writing.  PLTR disclosed that its US commercial revenue raised 72% YOY and the US government revenue reached 83% YOY. It has recorded a net loss of $(123,474) in the Q1 of 2021.

Palantir Technologies has also released the outlook for Q2 2021. It is anticipating the $360 million in revenue, signifying YOY revenue growth of 43%. It is expecting an Adjusted operating margin of 23%. PLTR is projecting the adjusted free cash flow in excess of $150 million for the full year of 2021.