Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.8% - Still a Buy?

Key Points

• Palantir Technologies (NASDAQ:PLTR) shares rose 2.8% on Monday, trading at $157.35 after closing at $153.11 the previous day.
• Analyst ratings have varied, with Mizuho upgrading Palantir from "underperform" to "neutral" and boosting the target price to $135.00, while Wall Street Zen downgraded it from "buy" to "hold."
• Palantir's recent earnings report revealed an EPS of $0.16, exceeding estimates, with revenue reaching $1 billion, up 48% year-over-year.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares were up 2.8% on Monday . The stock traded as high as $158.30 and last traded at $157.35. Approximately 20,648,640 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 90,532,063 shares. The stock had previously closed at $153.11.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PLTR shares. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a report on Tuesday, August 5th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Four investment 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 data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Price Performance

The firm has a 50 day simple moving average of $157.00 and a 200-day simple moving average of $124.86. The stock has a market capitalization of $371.00 billion, a price-to-earnings ratio of 521.17, a price-to-earnings-growth ratio of 8.63 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued 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. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the business earned $0.09 earnings per share. The company'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. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $112,129,506.30. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 160,164 shares of Palantir Technologies 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 $24,945,543.00. Following the completion of the sale, the insider owned 592 shares of the company's stock, valued at approximately $92,204. The trade was a 99.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,973,586 shares of company stock valued at $293,225,653 over the last ninety days. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. Norges Bank bought a new stake in Palantir Technologies during the 2nd quarter valued at $3,307,457,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies in the second quarter valued at about $2,543,888,000. Vanguard Group Inc. raised its holdings in Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at approximately $520,232,000. Finally, State Street Corp boosted its position in Palantir Technologies by 6.9% during 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 last quarter. 45.65% of the stock is currently owned by hedge funds and other 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.