Palantir Technologies (NASDAQ:PLTR) Stock Price Up 3.6% - Should You Buy?

Key Points

• Palantir Technologies' shares rose 3.6% to $168.14, although trading volume declined by 70% compared to the average.
• Analysts recently adjusted their target prices for the stock, with Goldman Sachs increasing its target from $90 to $141, reflecting a general optimism around Palantir's performance.
• The company reported a quarterly revenue of $1 billion, a 48% increase year-over-year, with earnings per share surpassing estimates at $0.16.

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 3.6% during mid-day trading on Wednesday . The stock traded as high as $168.04 and last traded at $168.14. 27,249,864 shares traded hands during trading, a decline of 70% from the average session volume of 90,149,406 shares. The stock had previously closed at $162.36.

Analyst Ratings Changes

Several brokerages recently issued reports on PLTR. Wedbush set a $200.00 price objective on Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Citigroup reissued a "neutral" rating and issued a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. UBS Group reissued a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. 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. Finally, Loop Capital boosted their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Stock Up 1.2%

The stock has a market capitalization of $394.63 billion, a price-to-earnings ratio of 556.81, a price-to-earnings-growth ratio of 9.40 and a beta of 2.59. The company has a 50 day moving average of $159.32 and a 200 day moving average of $126.29.

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 the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion during 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 business's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 81,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider owned 307,470 shares of the company's stock, 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. In the last three months, insiders sold 1,604,634 shares of company stock valued at $245,441,454. Corporate insiders own 9.23% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Accuvest Global Advisors increased its stake in Palantir Technologies by 0.7% during the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company's stock worth $1,232,000 after acquiring an additional 63 shares during the last quarter. Ignite Planners LLC increased its stake in Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock worth $2,094,000 after acquiring an additional 66 shares during the last quarter. Christensen King & Associates Investment Services Inc. increased its stake in Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after acquiring an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock worth $1,007,000 after acquiring an additional 73 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its stake in Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock worth $379,000 after acquiring an additional 73 shares during the last quarter. 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.