Palantir Technologies (NASDAQ:PLTR) Trading Up 8.8% – What’s Next?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded up 8.8% during mid-day trading on Monday . The company traded as high as $194.93 and last traded at $193.61. 87,299,719 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 83,386,852 shares. The stock had previously closed at $177.93.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PLTR shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Palantir Technologies in a research report on Wednesday. Morgan Stanley upped their price objective on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Royal Bank Of Canada boosted their price target on Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen raised Palantir Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $173.45.

Palantir Technologies Price Performance

The business has a 50 day simple moving average of $177.73 and a 200 day simple moving average of $154.47. The company has a market cap of $459.31 billion, a price-to-earnings ratio of 460.99, a price-to-earnings-growth ratio of 6.90 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 62.8% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the completion of the sale, the insider owned 702,786 shares of the company’s stock, valued at $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the transaction, the director owned 62,087 shares of the company’s stock, valued at $11,572,395.93. This trade represents a 1.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,527,750 shares of company stock valued at $234,463,896 over the last three months. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies in the 1st quarter valued at approximately $25,000. Signature Resources Capital Management LLC bought a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $27,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Palantir Technologies during the 2nd quarter worth about $27,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.