Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.1% - Still a Buy?

Key Points

• Palantir Technologies saw a stock price increase of 2.1%, closing at $160.53 with a significant decline in trading volume, down 68% from average daily volumes.
• In recent analyst ratings, Bank of America and Loop Capital both issued buy ratings for Palantir, while several other firms maintained a neutral stance, leading to an average rating of hold.
• Palantir reported impressive quarterly earnings with a revenue of $1 billion, beating expectations and up 48% year-over-year, along with a consensus earnings per share estimate for the current fiscal year of $0.31.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 2.1% on Tuesday . The stock traded as high as $161.05 and last traded at $160.53. 29,183,359 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 91,744,453 shares. The stock had previously closed at $157.17.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Bank of America boosted their price target on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a 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 report on Tuesday, August 5th. Finally, Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $116.00 to $135.00 in a report on Wednesday, July 16th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Trading Down 0.9%

The firm has a 50-day moving average of $155.46 and a 200 day moving average of $123.40. The company has a market cap of $371.77 billion, a P/E ratio of 522.38, a price-to-earnings-growth ratio of 8.91 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business 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%.The company's quarterly revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 8,047 shares of the 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 $1,253,320.25. Following the completion of the sale, the insider directly owned 474,399 shares of the company's stock, valued at $73,887,644.25. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the 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 directly 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. Over the last quarter, insiders sold 1,906,783 shares of company stock valued at $282,471,442. Corporate insiders own 9.23% of the company's stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Revolve Wealth Partners LLC bought a new position in Palantir Technologies during the fourth quarter valued at $450,000. Schonfeld Strategic Advisors LLC bought a new position in Palantir Technologies during the fourth quarter valued at $7,920,000. Bison Wealth LLC grew its holdings in Palantir Technologies by 37.4% during the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after purchasing an additional 4,667 shares during the period. Keel Point LLC grew its holdings in Palantir Technologies by 5.8% during the fourth quarter. Keel Point LLC now owns 13,949 shares of the company's stock valued at $1,055,000 after purchasing an additional 764 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in Palantir Technologies by 500.3% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,993 shares of the company's stock valued at $151,000 after purchasing an additional 1,661 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.