Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.1% - Here's Why

Key Points

• Palantir Technologies' stock price increased by 1.1% during mid-day trading, reaching a last traded price of $187.05 after hitting a high of $188.20.
• Analysts have varied price targets for Palantir, with Cantor Fitzgerald and Morgan Stanley both raising their targets to $155.00, while Deutsche Bank upgraded its rating from "sell" to "hold" with a target of $160.00.
• The company reported earnings of $0.16 EPS, exceeding analysts' expectations, with revenue of $1 billion for the quarter, marking a 48% increase compared to the previous year.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares rose 1.1% during mid-day trading on Thursday . The stock traded as high as $188.20 and last traded at $187.05. Approximately 39,641,463 shares were traded during trading, a decline of 55% from the average daily volume of 87,274,266 shares. The stock had previously closed at $184.95.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Cantor Fitzgerald raised their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $140.22.

Palantir Technologies Trading Up 1.1%

The company has a market cap of $443.75 billion, a PE ratio of 623.52, a PEG ratio of 10.18 and a beta of 2.60. The stock has a 50 day moving average price of $167.97 and a 200 day moving average price of $135.33.

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

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider owned 592 shares of the company's stock, valued at $89,611.04. The trade was a 99.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock valued at $244,676,722 in the last ninety days. Corporate insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Palantir Technologies in the second quarter worth $3,307,457,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palantir Technologies in the second quarter worth $2,543,888,000. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the period. Nuveen LLC bought a new stake in shares of Palantir Technologies in the first quarter worth $520,232,000. Finally, State Street Corp grew its holdings in shares of Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after acquiring an additional 6,097,629 shares during the period. 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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