Palantir Technologies (NASDAQ:PLTR) Trading Up 2.1% – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was up 2.1% during trading on Wednesday . The company traded as high as $176.82 and last traded at $175.19. 35,897,090 shares changed hands during trading, a decline of 23% from the average session volume of 46,606,211 shares. The stock had previously closed at $171.54.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Short sellers are facing approximately $5 billion in mark-to-market losses on roughly $12 billion of short interest as Palantir’s rally forces bearish investors to cover positions. This potential short squeeze can add buying pressure and support momentum. Short Sellers Are Losing Big on Palantir — Here’s the Data
• Positive Sentiment: Palantir announced that nearly 200 organizations have attended its first two Sovereignty Bootcamps in less than 30 days, signaling strong interest in its sovereign artificial-intelligence software and a potentially broader customer pipeline. Palantir’s Sovereignty Bootcamps Draw Nearly 200 Organizations
• Positive Sentiment: CEO Alex Karp said Palantir expects to sustain its current margin profile and revenue-growth trajectory for at least the next 18 months, supported by demand for sovereign AI. Investors view the comments as reinforcing the company’s growth outlook after its latest quarterly revenue rose 92.8% year over year and exceeded estimates. Palantir Stock Investors Just Got Good News From CEO Alex Karp
• Positive Sentiment: Zacks added PLTR to its Rank #1, or “Strong Buy,” list, adding to bullish Wall Street sentiment. New Strong Buy Stocks for August 19th

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. William Blair began coverage on shares of Palantir Technologies in a research note on Tuesday, August 4th. They issued a “neutral” rating for the company. DA Davidson boosted their price target on Palantir Technologies from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $80.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 4th. Citigroup downgraded Palantir Technologies from a “buy” rating to a “market perform” rating in a report on Tuesday, August 4th. Finally, Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.19.

Palantir Technologies Stock Performance

The company has a fifty day moving average price of $136.11 and a two-hundred day moving average price of $140.11. The company has a market cap of $420.99 billion, a P/E ratio of 149.74, a PEG ratio of 2.48 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The business’s quarterly revenue was up 92.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 1.26 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 3,032 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $165.00, for a total transaction of $500,280.00. Following the transaction, the director directly owned 54,107 shares in the company, valued at approximately $8,927,655. The trade was a 5.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 35,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $155.70, for a total transaction of $5,449,500.00. Following the sale, the insider directly owned 642,786 shares in the company, valued at $100,081,780.20. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 228,608 shares of company stock worth $30,810,313 in the last 90 days. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Basepoint Wealth LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at about $29,000. Ballast Advisors LLC bought a new stake in Palantir Technologies in the first quarter valued at approximately $29,000. Morton Brown Family Wealth LLC raised its stake in Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after buying an additional 125 shares during the period. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $31,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at approximately $32,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.