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Report: Palantir Could Debut at Stock Market With Nearly $22B Valuation

stock trading
stock trading

Bankers estimate the stock price for Palantir Technologies’ trading debut will be $10 per share, implying a $22B market valuation for the Denver-based data analytics company, The Wall Street Journal reported Thursday.

The software provider said it plans to trade Class A shares beginning Wednesday on the New York Stock Exchange and will go to market through a direct listing process — which allows existing holders to put shares directly on the public exchange instead of waiting for the traditional initial public offering lock-up period of 180 days.

Palantir, co-founded by venture capitalist Peter Thiel, forecasts a 42 percent increase in its fiscal 2020 revenue to nearly $1.1B.

According to the report, the company has raised more than $3B since its 2003 launch and was valued at $20B after a funding round in 2015.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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