Analysts Issue Forecasts for Palantir Technologies Inc.'s FY2024 Earnings (NYSE:PLTR)

Palantir Technologies Inc. (NYSE:PLTR - Free Report) - Investment analysts at DA Davidson lowered their FY2024 EPS estimates for shares of Palantir Technologies in a research note issued on Tuesday, May 7th. DA Davidson analyst G. Luria now forecasts that the company will earn $0.16 per share for the year, down from their prior forecast of $0.17. DA Davidson has a "Neutral" rating and a $24.00 price objective on the stock. The consensus estimate for Palantir Technologies' current full-year earnings is $0.16 per share.

A number of other equities analysts also recently commented on PLTR. Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an "underperform" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a "sell" rating in a report on Tuesday. Wedbush reissued an "outperform" rating and set a $35.00 price target on shares of Palantir Technologies in a report on Monday. Mizuho lifted their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, March 7th. Finally, Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $20.65.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR traded down $0.42 during midday trading on Thursday, reaching $21.14. 53,926,558 shares of the company's stock were exchanged, compared to its average volume of 63,561,500. The company's 50 day simple moving average is $23.28 and its two-hundred day simple moving average is $20.36. The firm has a market capitalization of $46.78 billion, a PE ratio of 237.47, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 12 month low of $9.02 and a 12 month high of $27.50.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 29,168 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company's stock, valued at $18,819,650. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Palantir Technologies news, Director Peter Thiel sold 7,044,756 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now owns 70,806,432 shares of the company's stock, valued at $1,755,291,449.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company's stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders sold a total of 7,206,273 shares of company stock valued at $178,543,602 over the last ninety days. Insiders own 13.96% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in shares of Palantir Technologies by 9.9% in the third quarter. Brown Advisory Inc. now owns 14,425 shares of the company's stock valued at $231,000 after buying an additional 1,300 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Palantir Technologies by 26.0% in the third quarter. Mackenzie Financial Corp now owns 125,145 shares of the company's stock valued at $1,865,000 after buying an additional 25,852 shares during the period. Strs Ohio acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $805,000. IFM Investors Pty Ltd boosted its holdings in shares of Palantir Technologies by 6.1% in the third quarter. IFM Investors Pty Ltd now owns 351,427 shares of the company's stock valued at $5,623,000 after buying an additional 20,176 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Palantir Technologies by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,363 shares of the company's stock worth $694,000 after purchasing an additional 11,219 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.