Equities Analysts Offer Predictions for PLTR FY2024 Earnings

Palantir Technologies Inc. (NYSE:PLTR) – Equities research analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Palantir Technologies in a research report issued to clients and investors on Tuesday, November 5th. DA Davidson analyst G. Luria now anticipates that the company will post earnings per share of $0.21 for the year, up from their prior forecast of $0.17. DA Davidson has a “Neutral” rating and a $47.00 price objective on the stock. The consensus estimate for Palantir Technologies’ current full-year earnings is $0.19 per share.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 10.41%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS.

PLTR has been the subject of a number of other reports. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Wedbush lifted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Mizuho upped their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday. Monness Crespi & Hardt reduced their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $29.93.

Palantir Technologies Trading Up 8.6 %

NYSE:PLTR opened at $55.51 on Thursday. The company has a market capitalization of $124.30 billion, a P/E ratio of 277.53 and a beta of 2.70. The business’s 50-day moving average is $38.60 and its 200 day moving average is $29.97. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $55.69.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after purchasing an additional 3,623,840 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock worth $105,636,000 after buying an additional 1,969,213 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,204,508 shares of company stock valued at $802,654,666 in the last three months. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.