Palantir Technologies (NASDAQ:PLTR) Trading Up 1.9% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 1.9% on Monday . The stock traded as high as $136.62 and last traded at $134.85. 30,170,673 shares were traded during mid-day trading, a decline of 36% from the average session volume of 46,809,684 shares. The stock had previously closed at $132.38.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir’s AI-driven business momentum remains strong, with articles highlighting surging commercial and government demand, expanding customer deployments, and improving margins that could support longer-term upside.
• Positive Sentiment: Several pieces ahead of the company’s upcoming Aug. 3 earnings report suggest investors are still positioning for another strong quarter, with options traders expecting a meaningful post-earnings move. TipRanks article on PLTR earnings swing
• Positive Sentiment: Bullish commentary also says Palantir’s Ontology platform and “secure AI” positioning continue to differentiate it from other software names, helping support the case for more growth. Motley Fool article on PLTR upside
• Neutral Sentiment: Coverage also notes that PLTR has pulled back sharply from its peak, making the stock a battleground between buyers who see a long-term AI leader and sellers focused on a still-stretched multiple. Motley Fool article on PLTR valuation
• Negative Sentiment: The main near-term pressure point is scrutiny over a UK NHS data contract, with the Office for Statistics Regulation review fueling questions about potential risk to Palantir’s government business and reinforcing valuation anxiety. Benzinga article on PLTR decline

Analyst Upgrades and Downgrades

PLTR has been the topic of a number of research reports. President Capital upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $25.50 to $133.00 in a research note on Monday, June 29th. BNP Paribas Exane began coverage on Palantir Technologies in a report on Tuesday, June 16th. They issued an “underperform” rating for the company. DA Davidson restated a “buy” rating and set a $175.00 target price on shares of Palantir Technologies in a research report on Friday, July 17th. Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Wedbush started coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.85.

Palantir Technologies Stock Down 6.7%

The stock has a fifty day moving average price of $132.09 and a 200-day moving average price of $143.38. The firm has a market cap of $296.65 billion, a price-to-earnings ratio of 139.04, a price-to-earnings-growth ratio of 2.16 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. As a group, research analysts expect that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the completion of the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $80,535.68. This represents a 99.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last three months. 9.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently made changes to their positions in PLTR. Basepoint Wealth LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $29,000. Morton Brown Family Wealth LLC boosted 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 acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $31,000. Clayton Financial Group LLC grew its holdings in shares of Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 150 shares during the period. Finally, Wexford Capital LP purchased a new position in Palantir Technologies in the 3rd quarter valued at approximately $36,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.