Palantir Technologies (NASDAQ:PLTR) Shares Down 2.4% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was down 2.4% during trading on Friday . The stock traded as low as $126.65 and last traded at $127.99. Approximately 35,098,160 shares traded hands during trading, a decline of 26% from the average daily volume of 47,575,191 shares. The stock had previously closed at $131.08.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Benchmark started coverage on Palantir Technologies in a research note on Wednesday, April 1st. They set a “hold” rating for the company. DA Davidson lowered their price objective on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Finally, DZ Bank started coverage on Palantir Technologies in a research note on Thursday, April 23rd. They set a “buy” rating and a $175.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Price Performance

The company has a fifty day moving average price of $139.91 and a two-hundred day moving average price of $153.94. The firm has a market cap of $306.83 billion, a price-to-earnings ratio of 143.81, a price-to-earnings-growth ratio of 2.07 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. Palantir Technologies’s revenue for the quarter was up 84.7% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the sale, the insider owned 375,242 shares in the company, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the transaction, the insider owned 592 shares of the company’s stock, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 925,789 shares of company stock worth $126,007,032 in the last 90 days. Company insiders own 9.53% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of PLTR. Milestone Asset Management LLC raised its holdings in Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock valued at $10,763,000 after acquiring an additional 42,173 shares during the period. VCI Wealth Management LLC increased its stake in Palantir Technologies by 42.3% in the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock valued at $2,166,000 after acquiring an additional 3,621 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Palantir Technologies by 135.3% in the third quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company’s stock valued at $98,659,000 after acquiring an additional 310,942 shares during the last quarter. Vanguard Group Inc. boosted its position in Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in Palantir Technologies during the fourth quarter valued at about $222,143,000. Institutional investors own 45.65% of the company’s stock.

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.