Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.8% - Here's What Happened

Key Points

• Palantir Technologies stock rose by 2.8%, trading between $181.56 and $180.48, although trading volume dropped significantly by 58% compared to its average daily volume.
• Analyst ratings for Palantir show a mix of sentiment with five analysts recommending a buy, fifteen advising hold, and two suggesting a sell, with an average price target of $141.28.
• In its most recent quarterly report, Palantir exceeded earnings expectations by posting $0.16 EPS, along with revenue of $1 billion, marking a 48% increase year-over-year.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price was up 2.8% on Thursday . The company traded as high as $181.56 and last traded at $180.48. Approximately 35,652,462 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 84,355,383 shares. The stock had previously closed at $175.49.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. Loop Capital increased their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Palantir Technologies in a report on Wednesday, October 8th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Five equities 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 MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $141.28.

Palantir Technologies Trading Up 2.8%

The company has a market capitalization of $428.18 billion, a price-to-earnings ratio of 601.65, a PEG ratio of 9.84 and a beta of 2.60. The company has a fifty day moving average of $171.21 and a 200-day moving average of $144.89.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period in the previous year, the firm posted $0.09 EPS. Palantir Technologies's revenue was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $186.39, for a total transaction of $149,112.00. Following the sale, the director owned 62,087 shares of the company's stock, valued at $11,572,395.93. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider owned 307,470 shares in the company, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,750 shares of company stock worth $239,713,896 over the last 90 days. Corporate insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Miller Wealth Advisors LLC boosted its holdings in shares of Palantir Technologies by 11.1% during the 3rd quarter. Miller Wealth Advisors LLC now owns 55,230 shares of the company's stock worth $10,075,000 after purchasing an additional 5,511 shares during the last quarter. Vermillion Wealth Management Inc. boosted its stake in Palantir Technologies by 69.2% during the third quarter. Vermillion Wealth Management Inc. now owns 269 shares of the company's stock worth $49,000 after buying an additional 110 shares during the last quarter. Harrell Investment Partners LLC boosted its stake in Palantir Technologies by 3.9% during the third quarter. Harrell Investment Partners LLC now owns 4,564 shares of the company's stock worth $833,000 after buying an additional 171 shares during the last quarter. Legacy Wealth Management LLC MS acquired a new position in Palantir Technologies during the third quarter worth $6,231,000. Finally, BKM Wealth Management LLC acquired a new position in Palantir Technologies during the third quarter worth $188,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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