Palantir Technologies (NASDAQ:PLTR) Shares Up 3.1% - Here's Why

Key Points

• Palantir Technologies' stock price rose by 3.1%, reaching a high of $184.42 and last trading at $182.39, with an increased trading volume of 108.8 million shares.
• Analysts have raised price targets for Palantir, with Deutsche Bank increasing its rating from "sell" to "hold" and setting a new target of $160, while the consensus target now stands at $138.28.
• Palantir's quarterly earnings surpassed expectations, reporting $1 billion in revenue and earnings per share of $0.16, up from $0.09 the previous year, indicating a significant growth of 48% year-over-year.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares shot up 3.1% during trading on Friday . The stock traded as high as $184.42 and last traded at $182.39. 108,813,401 shares traded hands during mid-day trading, an increase of 22% from the average session volume of 89,191,133 shares. The stock had previously closed at $176.97.

Analysts Set New Price Targets

Several analysts have issued reports on PLTR shares. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their price objective for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $138.28.

Palantir Technologies Stock Up 3.1%

The business's 50-day moving average is $162.51 and its 200-day moving average is $129.24. The company has a market capitalization of $432.69 billion, a price-to-earnings ratio of 607.99, a P/E/G ratio of 9.49 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue was up 48.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey Buckley sold 2,803 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $157.00, for a total value of $440,071.00. Following the completion of the sale, the insider owned 50,961 shares of the company's stock, valued at $8,000,877. This represents a 5.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction that occurred 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,625,634 shares of company stock worth $248,926,404. 9.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $3,307,457,000. Kingstone Capital Partners Texas LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $2,543,888,000. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after buying an additional 7,194,216 shares in the last quarter. Nuveen LLC acquired a new stake in Palantir Technologies during the 1st quarter worth approximately $520,232,000. Finally, State Street Corp lifted its holdings in Palantir Technologies by 6.9% during the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after buying an additional 6,097,629 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

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.

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