Shares of Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report) rose 5.5% during trading on Monday. The company traded as high as $170.83 and last traded at $169.20. Approximately 23,570,629 shares changed hands during trading, a decline of 43% from the average session volume of 41,202,176 shares. The stock had previously closed at $160.38.
Key Headlines Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir’s U.S. commercial business more than doubled and reportedly surpassed government revenue for the first time, highlighting stronger enterprise AI demand and a broader source of growth. Palantir’s Commercial AI Business Just Changed the Story, But It’s Stock Could Be Too Expensive
- Positive Sentiment: AmeriLife selected Palantir’s Foundry and AI Platform for an enterprise rollout across its insurance and retirement distribution operations. The partnership may provide a commercial growth opportunity as deployment expands. Palantir Technologies Lands Enterprise AI Partnership
- Positive Sentiment: Northland Securities raised its earnings estimates for PLTR, suggesting improved expectations for future results. PLTR Stock Earnings Estimates Lifted by Northland Securities
- Positive Sentiment: A broader tech rally helped Palantir rebound after an earnings-related pullback. Former Senator Jon Tester has also joined as an adviser, as the company prepares for greater congressional scrutiny. Palantir Stocks Rise as Former Senator Jon Tester Joins as Adviser
- Neutral Sentiment: Commentary comparing Palantir with other AI and software companies underscores its rapid growth and profitability, but does not establish a near-term catalyst for the shares. Palantir vs. Snowflake
- Negative Sentiment: Valuation remains a key risk: recent commentary argues that Palantir’s market capitalization above $400 billion may limit future returns despite strong growth. These 3 Stocks Just Fell After Strong Earnings
- Negative Sentiment: Articles point to investor selling after strong earnings, insider stock sales, and uncertainty over government budgets and congressional scrutiny. These factors could weigh on sentiment, although faster commercial growth may reduce Palantir’s dependence on public-sector spending. Defense Realignment: Lockheed Martin vs. Palantir
Analysts Set New Price Targets
Several brokerages have recently issued reports on PLTR. Roth Capital initiated coverage on shares of Palantir Technologies in a research note on Tuesday, August 4th. They issued a “buy” rating on the stock. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $156.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Morgan Stanley increased their price target on shares of Palantir Technologies from $205.00 to $233.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Benchmark restated a “hold” rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Finally, William Blair restated an “outperform” rating on shares of Palantir Technologies in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.53.
Get Our Latest Analysis on PLTR
Palantir Technologies Price Performance
The business has a 50 day moving average of $185.88 and a 200 day moving average of $153.74. The firm has a market capitalization of $406.60 billion, a price-to-earnings ratio of 118.32, a price-to-earnings-growth ratio of 3.24 and a beta of 1.65.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.18 billion. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. The business’s revenue was up 95.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 1.36 EPS for the current fiscal year.
Insider Activity at Palantir Technologies
In related news, insider Alexander C. Karp sold 492,348 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $174.79, for a total value of $86,057,506.92. Following the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $1,124,294,375.82. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Friedman Stat sold 5,026 shares of the stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $199.00, for a total transaction of $1,000,174.00. Following the completion of the transaction, the director directly owned 46,402 shares of the company’s stock, valued at $9,233,998. This trade represents a 9.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 523,716 shares of company stock worth $92,212,379 in the last ninety days. Company insiders own 9.53% of the company’s stock.
Institutional Investors Weigh In On Palantir Technologies
Several large investors have recently modified their holdings of the stock. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD increased its stake in shares of Palantir Technologies by 3.1% during the 3rd quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 130,874 shares of the company’s stock worth $24,480,000 after purchasing an additional 3,914 shares during the last quarter. Bessemer Group Inc. lifted its stake in Palantir Technologies by 5,148.9% in the third quarter. Bessemer Group Inc. now owns 2,160,917 shares of the company’s stock valued at $404,199,000 after purchasing an additional 2,119,748 shares during the last quarter. SGL Investment Advisors Inc. lifted its stake in Palantir Technologies by 10.1% in the third quarter. SGL Investment Advisors Inc. now owns 3,984 shares of the company’s stock valued at $745,000 after purchasing an additional 367 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Palantir Technologies by 51.4% during the third quarter. Hantz Financial Services Inc. now owns 15,547 shares of the company’s stock valued at $2,908,000 after purchasing an additional 5,276 shares during the period. Finally, IFG Advisory LLC grew its holdings in Palantir Technologies by 14.2% during the third quarter. IFG Advisory LLC now owns 55,328 shares of the company’s stock valued at $10,349,000 after purchasing an additional 6,882 shares during the period. 45.65% of the stock is currently owned by institutional investors.
About Palantir Technologies
Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security.
The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.
Founded in 2003, Palantir initially focused on software for government and intelligence work and later expanded its commercial business.
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