Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report)’s stock price dropped 2.1% on Wednesday. The company traded as low as $164.60 and last traded at $171.70. Approximately 34,848,109 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 41,296,551 shares. The stock had previously closed at $175.40.
Key Headlines Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir reported Q3 revenue of $2.31 billion, up 96% year over year, and EPS of $0.44 versus the $0.41 consensus. U.S. commercial revenue grew 148% and exceeded U.S. government revenue for the first time. The company raised its 2026 revenue outlook to $8.5 billion, above analyst expectations. Reuters report on Palantir’s Q3 results
- Positive Sentiment: Barclays raised its price target to $273 and kept an “overweight” rating. Other firms have also lifted targets after the results, signaling confidence in Palantir’s growth prospects. Barclays rating information
- Positive Sentiment: A new partnership with footwear manufacturer Changshin will use Palantir’s Foundry and AIP platforms to connect product development and factory operations, adding a commercial use case for its AI software. Changshin and Palantir partnership
- Negative Sentiment: Bookings are a key concern: total contract value increased just 6%, sharply slower than the prior quarter, while U.S. commercial contract-value growth also cooled. Investors may be questioning whether new deals can keep pace with reported revenue growth. MarketWatch on bookings growth
- Negative Sentiment: Palantir’s premium valuation leaves little room for disappointment, and concerns about an AI bubble may intensify selling even after strong results. Midterm election results also raised worries about tighter data-center regulation and a potential reduction in the Pentagon’s proposed budget, creating uncertainty around government-related demand. The Motley Fool on election-related concerns
Analysts Set New Price Targets
Several brokerages recently issued reports on PLTR. Truist Financial restated a “buy” rating and set a $250.00 price target (up from $223.00) on shares of Palantir Technologies in a research note on Tuesday. Royal Bank Of Canada lifted their target price on Palantir Technologies from $90.00 to $130.00 and gave the company an “underperform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $225.00 target price on shares of Palantir Technologies in a research report on Monday, October 26th. William Blair reiterated an “outperform” rating on shares of Palantir Technologies in a research report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. started coverage on Palantir Technologies in a research note on Thursday, October 29th. They issued an “overweight” rating and a $262.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $214.53.
Read Our Latest Report on Palantir Technologies
Palantir Technologies Stock Down 2.1%
The firm has a market cap of $412.61 billion, a P/E ratio of 120.07, a price-to-earnings-growth ratio of 3.18 and a beta of 1.65. The firm has a fifty day moving average of $186.86 and a 200-day moving average of $153.89.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Palantir Technologies had a net margin of 50.34% and a return on equity of 32.87%. The firm’s revenue was up 95.9% on a year-over-year basis. During the same period last year, the business earned $0.21 earnings per share. On average, equities analysts forecast that Palantir Technologies Inc. will post 1.29 EPS for the current year.
Insider Buying and Selling at Palantir Technologies
In related news, Director Lauren Friedman Stat sold 5,026 shares of the stock in a transaction 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 sale, the director owned 46,402 shares in the company, valued at approximately $9,233,998. This represents a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 35,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $155.70, for a total transaction of $5,449,500.00. Following the completion of the transaction, the insider directly owned 642,786 shares in the company, valued at $100,081,780.20. The trade was a 5.16% 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 557,358 shares of company stock worth $97,408,897 in the last three months. 9.53% of the stock is owned by insiders.
Institutional Trading of Palantir Technologies
Institutional investors have recently bought and sold shares of the business. Axiom Investment Management LLC lifted its position in shares of Palantir Technologies by 181.8% during the 3rd quarter. Axiom Investment Management LLC now owns 155 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the last quarter. Navigoe LLC increased its holdings in Palantir Technologies by 17,500.0% in the third quarter. Navigoe LLC now owns 176 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares in the last quarter. Laurel Wealth Advisors LLC bought a new stake in Palantir Technologies in the third quarter valued at $35,000. Cranbrook Wealth Management LLC grew its holdings in shares of Palantir Technologies by 40.7% during the third quarter. Cranbrook Wealth Management LLC now owns 197 shares of the company’s stock valued at $37,000 after buying an additional 57 shares during the last quarter. Finally, Ballast Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $29,000. Institutional investors own 45.65% of the company’s stock.
About Palantir Technologies
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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