Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.5% - Here's What Happened

Key Points

• Palantir Technologies' stock price increased by 1.5%, closing at $158.38 after trading as high as $159.62, despite a significant decline in trading volume.
• Analysts have a mixed outlook on the stock, with target prices ranging from $45.00 to $177.00 and a general consensus rating of "Hold."
• The company reported earnings of $0.16 per share for the previous quarter, exceeding expectations, with a revenue increase of 48% year-over-year.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price shot up 1.5% on Tuesday . The company traded as high as $159.62 and last traded at $158.38. 18,961,449 shares were traded during trading, a decline of 79% from the average session volume of 90,277,078 shares. The stock had previously closed at $156.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Citigroup reiterated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a report on Tuesday, August 5th. Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Stock Up 3.7%

The business has a 50 day simple moving average of $157.39 and a 200-day simple moving average of $125.24. The company has a market capitalization of $384.17 billion, a P/E ratio of 539.64, a PEG ratio of 8.63 and a beta of 2.59.

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

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 9,211 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $1,434,613.25. Following the completion of the sale, the insider owned 343,518 shares of the company's stock, valued at approximately $53,502,928.50. The trade was a 2.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was 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 approximately $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,568,586 shares of company stock worth $239,733,253 in the last quarter. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. Signature Resources Capital Management LLC bought a new stake in Palantir Technologies in the second quarter valued at $25,000. Briaud Financial Planning Inc bought a new stake in Palantir Technologies in the second quarter valued at $27,000. LFA Lugano Financial Advisors SA bought a new stake in Palantir Technologies in the second quarter valued at $27,000. Frazier Financial Advisors LLC bought a new stake in shares of Palantir Technologies during the second quarter worth $28,000. Finally, Delos Wealth Advisors LLC bought a new stake in shares of Palantir Technologies during the second quarter worth $29,000. 45.65% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.