Palantir Technologies (NASDAQ:PLTR) Trading 3.9% Higher - Here's Why

Key Points

• Palantir Technologies' stock rose by 3.9% to $162.21, with a significant trading volume decline of 58% from the average.
• Analysts have upgraded Palantir from a "hold" to a "buy" rating, with target price updates ranging from $90.00 to $180.00.
• The company reported impressive quarterly earnings with $1 billion in revenue, exceeding estimates and reflecting a 48% year-over-year growth.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) traded up 3.9% on Friday . The company traded as high as $160.85 and last traded at $162.21. 38,737,753 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 91,772,984 shares. The stock had previously closed at $156.18.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Loop Capital increased their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $136.61.

Palantir Technologies Stock Up 1.6%

The firm has a market cap of $376.59 billion, a price-to-earnings ratio of 529.15, a PEG ratio of 8.79 and a beta of 2.60. The company's 50-day moving average price is $153.18 and its 200-day moving average price is $121.39.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same period in the previous year, the company posted $0.09 earnings per share. The business's revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the transaction, the director directly owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 529,684 shares of company stock valued at $71,900,350 in the last 90 days. Company 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. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies during the first quarter worth about $25,000. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth about $27,000. 1248 Management LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth about $27,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Palantir Technologies during the second quarter worth about $27,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

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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