Palantir Technologies (NASDAQ:PLTR) Stock Price Down 2% - What's Next?

Key Points

• Palantir shares fell 2% in mid-day trading, dipping as low as $129.92 before last trading around $130.63, below the prior close of $133.25.
• Analyst sentiment remains largely positive despite a few target adjustments: Wolfe Research upgraded the stock to Hold, Wedbush initiated coverage with an Outperform rating, and the consensus rating remains Moderate Buy with a $192.76 price target.
• The company continues to show strong fundamentals, reporting quarterly EPS of $0.33 and revenue of $1.63 billion, both above estimates, with revenue up 84.7% year over year.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares dropped 2% during mid-day trading on Wednesday . The stock traded as low as $129.92 and last traded at $130.63. Approximately 31,733,995 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 47,240,680 shares. The stock had previously closed at $133.25.

Palantir Technologies News Summary

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Wolfe Research upgraded Palantir (PLTR) to Hold from Sell and said the company’s AI platform is best-in-class and “too big to ignore,” reinforcing the long-term bull case for enterprise AI adoption. Why This Analyst Says Palantir Stock Is ‘Too Big to Ignore’
• Positive Sentiment: Separate market commentary says PLTR remains attractive to investors because of strong growth, expanding AI software demand, and solid margins versus peers. Cognyte vs Palantir: Which AI Intelligence Stock Is the Better Buy?
• Positive Sentiment: Some coverage highlights ongoing bullish investor interest in Palantir’s AI momentum and its role in defense and enterprise software, which can support sentiment even after recent pullbacks. Buy 5 Technology Laggards Despite the Sector's Dream Run in 2026

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research analyst reports. Mizuho reduced their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Wedbush assumed coverage on shares of Palantir Technologies in a research note on Tuesday. They set an "outperform" rating on the stock. Wolfe Research upgraded shares of Palantir Technologies from an "underperform" rating to a "peer perform" rating in a research note on Tuesday. Phillip Securities raised their price target on shares of Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Finally, Zacks Research raised shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.76.

Palantir Technologies Price Performance

The stock's 50 day moving average is $138.96 and its two-hundred day moving average is $153.27. The stock has a market capitalization of $313.16 billion, a PE ratio of 146.78, a price-to-earnings-growth ratio of 2.14 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business's quarterly revenue was up 84.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, equities analysts predict that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 165,514 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the transaction, the insider directly owned 642,786 shares of the company's stock, valued at $87,444,607.44. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider directly owned 375,242 shares of the company's stock, valued at $51,047,921.68. This trade represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 927,270 shares of company stock valued at $126,197,785 over the last three months. 9.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Bare Financial Services Inc raised its stake in shares of Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after purchasing an additional 55 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $29,000. United Financial Planning Group LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth approximately $32,000. Morton Brown Family Wealth LLC raised its stake in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Finally, Cornerstone Financial Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $31,000. 45.65% of the stock is owned by institutional investors and hedge funds.

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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