Why Palantir Technologies Stock Popped Today

Palantir Technologies stock gained 2.2% on news that Q2 earnings will be reported on August 3. Wall Street analysts expect 80% year-over-year revenue growth to $1.8 billion and earnings to more than double to $0.35 per share. However, at 142x trailing earnings, the stock remains expensive even with strong growth projections. The author recommends focusing on free cash flow metrics when earnings are announced to determine if the stock is undervalued.