Palantir Technologies (NASDAQ:PLTR) Shares Up 2.1% – Should You Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded up 2.1% during trading on Wednesday. The stock traded as high as $175.41 and last traded at $172.40. 15,764,523 shares were traded during trading, a decline of 62% from the average session volume of 40,989,238 shares. The stock had previously closed at $168.82.

Key Headlines Impacting Palantir Technologies

Here are a few of the latest headlines about PLTR:

• Neutral Sentiment: Helsing introduced a battlefield-data AI platform aimed at European customers, presenting a potential competitor to Palantir. The announcement may raise competitive questions, but its effect on Palantir’s business is not yet clear. Helsing debuts Clarity military AI to challenge Palantir in Europe
• Negative Sentiment: Investors are focused on slower contract growth: total contract value reportedly grew 6% year over year, versus 49% in the prior quarter, while U.S. commercial contract value fell sequentially. That raises questions about whether strong revenue growth can continue. Palantir stock slips despite strong AI revenue
• Negative Sentiment: Valuation remains a risk after the recent sell-off. One comparison put Palantir at about 53 times sales versus an estimated 35–39 times for Anthropic, potentially limiting the stock’s appeal if growth expectations cool. Investor says Anthropic would cost less than Palantir on sales

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PLTR shares. Roth Capital initiated coverage on Palantir Technologies in a research note on Tuesday, August 4th. They issued a “buy” rating for the company. Royal Bank Of Canada upped their price target on shares of Palantir Technologies from $90.00 to $130.00 and gave the company an “underperform” rating in a research note on Tuesday, November 3rd. William Blair restated an “outperform” rating on shares of Palantir Technologies in a research note on Wednesday, August 26th. Wolfe Research started coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of Palantir Technologies from $205.00 to $233.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $214.53.

Palantir Technologies Trading Up 2.1%

The business has a 50-day moving average price of $185.19 and a two-hundred day moving average price of $153.77. The stock has a market capitalization of $414.29 billion, a P/E ratio of 120.56, a P/E/G ratio of 3.42 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.18 billion. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. Palantir Technologies’s quarterly revenue was up 95.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Alexander Karp sold 492,348 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $1,124,294,375.82. The trade was a 7.11% decrease in their position. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 2,055 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.83, for a total value of $359,275.65. Following the transaction, the insider directly owned 58,171 shares of the company’s stock, valued at $10,170,035.93. This trade represents a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders have sold 523,716 shares of company stock worth $92,212,379. 9.53% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in PLTR. Axiom Investment Management LLC boosted its holdings in shares of Palantir Technologies by 181.8% during the 3rd quarter. Axiom Investment Management LLC now owns 155 shares of the company’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Navigoe LLC raised its holdings in Palantir Technologies by 17,500.0% in the 3rd quarter. Navigoe LLC now owns 176 shares of the company’s stock valued at $32,000 after buying an additional 175 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in Palantir Technologies in the 3rd quarter valued at approximately $35,000. Cranbrook Wealth Management LLC raised its holdings in Palantir Technologies by 40.7% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 197 shares of the company’s stock valued at $37,000 after buying an additional 57 shares during the last quarter. Finally, Ballast Advisors LLC acquired a new stake in Palantir Technologies during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.