Palantir Technologies (NASDAQ:PLTR) Hits New 1-Year High After Better-Than-Expected Earnings

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The company traded as high as $206.00 and last traded at $203.7430, with a volume of 5474565 shares trading hands. The stock had previously closed at $200.47.

The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 16.27%. The firm’s quarterly revenue was up 62.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group raised their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a report on Tuesday. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a report on Tuesday. Finally, Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $169.44.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,527,750 shares of company stock worth $234,463,896 in the last three months. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. Arkfeld Wealth Strategies L.L.C. lifted its stake in shares of Palantir Technologies by 82.3% in the third quarter. Arkfeld Wealth Strategies L.L.C. now owns 3,713 shares of the company’s stock valued at $643,000 after purchasing an additional 1,676 shares during the period. a16z Perennial Management L.P. acquired a new stake in shares of Palantir Technologies in the third quarter valued at about $1,445,000. Canada Post Corp Registered Pension Plan lifted its stake in shares of Palantir Technologies by 24.8% in the third quarter. Canada Post Corp Registered Pension Plan now owns 46,860 shares of the company’s stock valued at $8,381,000 after purchasing an additional 9,300 shares during the period. Wellington Shields Capital Management LLC lifted its stake in shares of Palantir Technologies by 1.4% in the third quarter. Wellington Shields Capital Management LLC now owns 7,347 shares of the company’s stock valued at $1,340,000 after purchasing an additional 101 shares during the period. Finally, Elyxium Wealth LLC lifted its stake in shares of Palantir Technologies by 9.3% in the third quarter. Elyxium Wealth LLC now owns 12,165 shares of the company’s stock valued at $2,219,000 after purchasing an additional 1,037 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

The company’s 50 day moving average is $176.35 and its 200 day moving average is $152.68. The stock has a market cap of $445.46 billion, a price-to-earnings ratio of 447.09, a PEG ratio of 11.23 and a beta of 2.63.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.