Palantir Technologies (NYSE:PLTR) Issues Quarterly Earnings Results

Palantir Technologies (NYSE:PLTR) released its quarterly earnings data on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01, Briefing.com reports. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 10.41%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. Palantir Technologies updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Palantir Technologies Price Performance

PLTR traded down $1.32 on Thursday, reaching $54.21. 59,055,389 shares of the company’s stock were exchanged, compared to its average volume of 57,128,504. The stock’s fifty day moving average price is $38.60 and its 200-day moving average price is $29.97. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $56.47. The stock has a market cap of $121.40 billion, a PE ratio of 270.15 and a beta of 2.70.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Mizuho boosted their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.93.

Insiders Place Their Bets

In other Palantir Technologies news, 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 transaction of $7,493,016.84. Following the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,204,508 shares of company stock valued at $802,654,666 over the last ninety days. 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.