Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report)’s stock price traded up 1.1% during trading on Monday. The company traded as high as $200.05 and last traded at $198.84. Approximately 16,249,889 shares traded hands during trading, a decline of 61% from the average session volume of 41,680,465 shares. The stock had previously closed at $196.75.
More Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir continues to attract bullish coverage because of accelerating revenue, expanding U.S. commercial and government demand, strong profitability, and its low-capital software model. Analysts and investors expect additional customer expansion to support margins and earnings. Bull of the Day: Palantir
- Positive Sentiment: A new Vanguard: Elite partnership with Aplos Data could broaden Palantir’s sales and implementation reach among U.S. commercial customers, supporting wider deployment of Foundry and its Artificial Intelligence Platform. Palantir Deepens U.S. Reach With New Vanguard Elite Partner
- Neutral Sentiment: The November 2 earnings release is the immediate catalyst. Wall Street reportedly expects quarterly EPS of about $0.41, while investors will focus on U.S. commercial customer growth, free cash flow, and forward guidance. Options pricing implies a potentially sizable post-earnings move of roughly 11.65%. Palantir’s Q3 Bar Is Higher Than It Looks
- Negative Sentiment: RBC Capital issued a fresh warning ahead of earnings, adding pressure as Palantir’s valuation leaves little room for an earnings or guidance miss. The stock trades at an exceptionally high earnings multiple, so even strong results may not be enough if growth fails to exceed already elevated expectations. Palantir Stock Falls After RBC Delivers Fresh Warning
- Negative Sentiment: Additional risks include rising interest rates compressing high-growth technology valuations and the possibility that large AI-model developers could compete for Palantir’s employees or challenge parts of its software offering. These concerns make the current rally vulnerable to volatility. Palantir’s Growth Looks Unstoppable. There’s 1 Major Risk.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on PLTR shares. Raymond James Financial upgraded Palantir Technologies from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 8th. Needham & Company LLC set a $215.00 price objective on Palantir Technologies in a research note on Tuesday, August 11th. Weiss Ratings upgraded Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Roth Capital initiated coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They issued a “buy” rating for the company. Finally, Robert W. Baird set a $250.00 price objective on shares of Palantir Technologies in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.55.
Get Our Latest Research Report on Palantir Technologies
Palantir Technologies Trading Down 1.0%
The firm has a market cap of $472.95 billion, a price-to-earnings ratio of 168.21, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. The stock has a 50-day moving average of $185.77 and a 200-day moving average of $153.69.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The firm’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.
Insider Transactions at Palantir Technologies
In other news, Director Eric H. Woersching sold 1,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $205.00, for a total transaction of $205,000.00. Following the sale, the director owned 3,465 shares of the company’s stock, valued at approximately $710,325. The trade was a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 5,026 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $199.00, for a total value of $1,000,174.00. Following the transaction, the director owned 46,402 shares of the company’s stock, valued at approximately $9,233,998. This represents a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 560,390 shares of company stock worth $97,909,177 over the last 90 days. Corporate insiders own 9.53% of the company’s stock.
Institutional Trading of Palantir Technologies
Several large investors have recently added to or reduced their stakes in PLTR. Jennison Associates LLC acquired a new stake in Palantir Technologies in the first quarter worth about $1,574,111,000. Arrowstreet Capital Limited Partnership increased its stake in Palantir Technologies by 277.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after buying an additional 7,678,747 shares during the period. Bank of America Corp DE raised its position in shares of Palantir Technologies by 28.7% during the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock worth $2,755,883,000 after buying an additional 4,201,852 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Palantir Technologies by 795.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company’s stock worth $480,247,000 after buying an additional 2,952,079 shares in the last quarter. Finally, State Street Corp raised its position in shares of Palantir Technologies by 2.8% during the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock worth $12,190,903,000 after buying an additional 2,863,874 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Palantir Technologies Company Profile
Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.
Palantir’s principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization’s data and operational systems.
Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.
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