Palantir Technologies (NASDAQ:PLTR) Hits New 1-Year High on Earnings Beat

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price reached a new 52-week high on Monday following a better than expected earnings announcement. The company traded as high as $206.00 and last traded at $203.7430, with a volume of 5474565 shares trading hands. The stock had previously closed at $200.47.

The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 16.27%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PLTR shares. Bank of America lifted their target price on Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. Wedbush set a $200.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Raymond James Financial reissued a “market perform” rating on shares of Palantir Technologies in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $169.44.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider directly owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 375,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the transaction, the insider owned 702,786 shares in the company, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,527,750 shares of company stock worth $234,463,896 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently bought and sold shares of the stock. Mechanics Financial Corp bought a new stake in shares of Palantir Technologies during the 1st quarter worth $25,000. Signature Resources Capital Management LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies in the 1st quarter worth about $27,000. 1248 Management LLC purchased a new stake in Palantir Technologies in the 1st quarter worth about $27,000. Finally, Briaud Financial Planning Inc purchased a new stake in Palantir Technologies in the 2nd quarter worth about $27,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Down 1.8%

The firm has a fifty day moving average of $176.35 and a two-hundred day moving average of $152.68. The company has a market cap of $444.43 billion, a PE ratio of 445.97, a price-to-earnings-growth ratio of 11.23 and a beta of 2.63.

Palantir Technologies Company Profile

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.