Palantir Technologies (NASDAQ:PLTR) Shares Up 4.7% – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded up 4.7% during mid-day trading on Wednesday. The company traded as high as $202.55 and last traded at $201.72. Approximately 21,164,363 shares were traded during trading, a decline of 50% from the average session volume of 42,008,656 shares. The stock had previously closed at $192.60.

More Palantir Technologies News

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

• Positive Sentiment: Analysts and commentators remain optimistic about Palantir’s growth outlook. Management guided for approximately $2.16 billion in third-quarter revenue, but the company has exceeded its guidance in recent quarters, raising expectations for another beat. Palantir Guided for $2.16 Billion in Revenue for Q3
• Positive Sentiment: Citi increased its price target from $245 to $250 while maintaining a Buy rating, and several firms reportedly see additional upside if Palantir delivers strong earnings and guidance. Citi raises Palantir stock price target
• Positive Sentiment: Palantir expanded commercial and government distribution through partnerships with Stagwell, Aplos Data and Knox Systems. The agreements could broaden adoption of Foundry and AIP, although the announcements did not disclose material financial terms. Stagwell and Palantir Expand AI Partnership
• Positive Sentiment: Analyst Dan Ives argued that Palantir and Snowflake are approaching stronger monetization of corporate AI spending, potentially supporting software earnings above current expectations. Dan Ives on AI Monetization
• Neutral Sentiment: Nov. 2 earnings are the key near-term catalyst. Investors will focus on revenue growth, commercial customer expansion, margins and whether management raises its outlook rather than merely meeting the $2.16 billion forecast.
• Neutral Sentiment: Palantir continues promoting sovereign AI deployments for NATO and other customers, emphasizing system control and independence from foreign technology providers. This may strengthen its government positioning but has not yet translated into quantified new revenue. Palantir Accelerates Delivery of Sovereign AI
• Negative Sentiment: Valuation remains the principal risk. With a market capitalization near $471 billion and a P/E ratio above 160, the stock has limited tolerance for slowing growth or disappointing guidance, even though the business is expanding rapidly.
• Negative Sentiment: ARK Invest’s Cathie Wood trimmed Palantir holdings while reallocating capital to Meta, adding a modest sentiment headwind. Cathie Wood Trims Palantir Shares
• Negative Sentiment: Gartner’s warning about the scalability and economics of forward-deployed AI models has prompted scrutiny of Palantir’s operating model. Investors will want evidence that its reusable software and partner strategy can support growth efficiently. Palantir Stock Buy, Sell, or Hold After an AI Warning

Analyst Ratings Changes

Several brokerages have recently issued reports on PLTR. Phillip Securities cut shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Robert W. Baird set a $250.00 target price on shares of Palantir Technologies in a report on Monday, October 12th. Raymond James Financial raised Palantir Technologies from a “hold” rating to a “moderate buy” rating in a report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Tuesday, August 4th. Finally, Oppenheimer cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $203.48.

Palantir Technologies Stock Down 0.2%

The stock has a market cap of $470.44 billion, a P/E ratio of 167.48, a price-to-earnings-growth ratio of 3.55 and a beta of 1.60. The firm’s 50-day moving average is $184.30 and its two-hundred day moving average is $153.47.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company posted $0.16 earnings per share. Palantir Technologies’s revenue for the quarter was up 92.8% on a year-over-year basis. Analysts anticipate that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lauren Friedman Stat sold 5,026 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $199.00, for a total value of $1,000,174.00. Following the completion of the sale, the director directly owned 46,402 shares in the company, valued at approximately $9,233,998. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander Karp sold 492,348 shares of Palantir Technologies 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 in the company, valued at $1,124,294,375.82. This trade represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders have sold 560,390 shares of company stock valued at $97,909,177. 9.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. BlackRock Inc. increased its position in Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock worth $22,146,030,000 after acquiring an additional 757,322 shares during the period. State Street Corp boosted its holdings in Palantir Technologies by 2.8% in the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after purchasing an additional 2,863,874 shares during the period. Bank of America Corp DE boosted its holdings in Palantir Technologies by 28.7% in the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock valued at $2,755,883,000 after purchasing an additional 4,201,852 shares during the period. Amundi grew its position in Palantir Technologies by 2.5% in the 1st quarter. Amundi now owns 16,410,400 shares of the company’s stock worth $2,400,513,000 after purchasing an additional 398,093 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in Palantir Technologies in the 1st quarter worth $1,574,111,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.

Palantir’s principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization’s data and operational systems.

Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.