Palantir Technologies (NASDAQ:PLTR) Shares Up 7.8% – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded up 7.8% during trading on Wednesday . The stock traded as high as $128.25 and last traded at $125.73. 57,340,984 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 47,583,445 shares. The stock had previously closed at $116.67.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: D.A. Davidson upgraded Palantir Technologies (PLTR) to Buy and lifted its target to $175, saying the company has grown into its valuation and offers a stronger AI enterprise setup than rivals. Palantir Stock Is a ‘Gift’ to Investors, Analyst Upgrades to Buy
• Positive Sentiment: Palantir’s Nvidia deal for secure AI systems aimed at government customers is being viewed as a major strategic win that could expand adoption and strengthen its competitive moat. Palantir CEO Alex Karp Says AI Labs Are Chasing ‘Tokens’ While Enterprises Fear for Their IP
• Positive Sentiment: Analysts and commentators highlighted Palantir’s strong revenue growth, expanding profitability, and improving Rule of 40 score, suggesting the business momentum remains intact despite the stock’s prior weakness. Palantir’s Surging Rule of 40 Highlights Excellent AI-Driven Execution
• Neutral Sentiment: Several articles focused on Palantir’s valuation debate and recent share-price pullback, arguing the stock may still be expensive even as fundamentals improve. Palantir Technologies (PLTR) Stock Trades Up, Here Is Why
• Neutral Sentiment: Wall Street sentiment has improved overall, with Palantir now carrying a “Moderate Buy” consensus rating, but many firms still note the stock’s premium valuation. Palantir Technologies Inc. (NASDAQ:PLTR) Receives Consensus Rating of “Moderate Buy” from Analysts

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup boosted their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. UBS Group raised shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Mizuho lowered their price objective on shares of Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $138.00 price objective on shares of Palantir Technologies in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.85.

Palantir Technologies Stock Performance

The company has a market cap of $309.97 billion, a price-to-earnings ratio of 145.28, a P/E/G ratio of 2.02 and a beta of 1.56. The firm has a fifty day moving average price of $134.09 and a 200 day moving average price of $148.44.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, analysts expect that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the transaction, the insider directly owned 642,786 shares in the company, valued at $87,444,607.44. The trade was a 20.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the sale, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. 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 sold 927,270 shares of company stock worth $126,197,785 over the last ninety days. Company insiders own 9.53% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently made changes to their positions in PLTR. Basepoint Wealth LLC bought a new position in Palantir Technologies during the fourth quarter worth $29,000. Ballast Advisors LLC bought a new position in shares of Palantir Technologies in the first quarter valued at about $29,000. Morton Brown Family Wealth LLC lifted its stake in shares of Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $31,000. Finally, United Financial Planning Group LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter worth about $32,000. 45.65% of the stock is owned by institutional investors and hedge funds.

About Palantir Technologies

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.