Shares of Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report) traded up 9.2% during mid-day trading on Friday . The stock traded as high as $157.78 and last traded at $156.54. 91,668,697 shares traded hands during mid-day trading, an increase of 89% from the average session volume of 48,490,867 shares. The stock had previously closed at $143.34.
Key Headlines Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Investors are bidding up PLTR after Dell’s blockbuster earnings helped validate Palantir’s AI Factory partnership, reinforcing confidence in enterprise AI spending and lifting software names broadly. PLTR Stock Alert: Why Palantir Is Getting a Boost from Dell Earnings
- Positive Sentiment: Strong demand for AI software is also supporting PLTR, with articles pointing to renewed optimism across the sector after Snowflake’s results and a broader rebound in software stocks. Palantir Stock Is Having Its Best Day in a Year. Software Looks Like a Buy Again.
- Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside, adding to momentum in the shares.
- Positive Sentiment: Several pieces highlighted improving technicals, including a possible structural bottom and trend reversal, which can attract momentum and algorithmic buyers. Palantir (PLTR) Price Forecast: Structural Bottom Signals Trend Reversal
- Neutral Sentiment: Analyst-related commentary noted upside potential from current price targets and recent earnings estimate revisions, but this is more supportive than a direct stock-moving catalyst. Does Palantir Technologies (PLTR) Have the Potential to Rally 35.91% as Wall Street Analysts Expect?
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price target for the company from $205.00 to $151.00 in a research report on Friday, May 1st. Freedom Capital upgraded Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a research report on Friday, February 13th. William Blair upgraded Palantir Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, February 2nd. Phillip Securities boosted their price target on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Finally, Mizuho dropped their price target on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.76.
Palantir Technologies Stock Performance
The company has a 50-day simple moving average of $141.70 and a 200-day simple moving average of $156.13. The company has a market cap of $375.27 billion, a price-to-earnings ratio of 175.89, a PEG ratio of 2.48 and a beta of 1.52.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company’s quarterly revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current year.
Insider Buying and Selling at Palantir Technologies
In other news, insider Shyam Sankar sold 165,514 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 922,524 shares of company stock worth $125,501,302. Corporate insiders own 9.53% of the company’s stock.
Institutional Investors Weigh In On Palantir Technologies
Several institutional investors have recently modified their holdings of the company. Milestone Asset Management LLC raised its holdings in Palantir Technologies by 229.5% in the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock valued at $10,763,000 after acquiring an additional 42,173 shares during the last quarter. VCI Wealth Management LLC raised its holdings in Palantir Technologies by 42.3% in the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock valued at $2,166,000 after acquiring an additional 3,621 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Palantir Technologies by 135.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company’s stock valued at $98,659,000 after acquiring an additional 310,942 shares during the last quarter. Vanguard Group Inc. raised its holdings in Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after acquiring an additional 1,557,828 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Palantir Technologies in the 4th quarter valued at $222,143,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Palantir Technologies Company Profile
Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.
Palantir’s product portfolio centers on a small number of core platforms.
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