Shares of Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report) shot up 5.3% on Friday . The stock traded as high as $114.08 and last traded at $112.93. Approximately 59,751,264 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 47,582,492 shares. The stock had previously closed at $107.27.
Key Headlines Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
- Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
- Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
- Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
- Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
- Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Wednesday, May 6th. DZ Bank began coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price on the stock. Finally, Phillip Securities upped their target price on shares of Palantir Technologies from $190.00 to $202.00 in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.
Palantir Technologies Price Performance
The stock has a 50 day moving average price of $135.96 and a two-hundred day moving average price of $150.44. The company has a market capitalization of $270.73 billion, a price-to-earnings ratio of 126.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.53.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $0.13 EPS. The firm’s quarterly revenue was up 84.7% on a year-over-year basis. Sell-side analysts forecast that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.
Insider Buying and Selling
In other news, insider David A. Glazer sold 17,128 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the company’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 transaction of $54,109,093.76. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 927,270 shares of company stock valued at $126,197,785. Insiders own 9.53% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Basecamp Wealth Advisors LLC increased its stake in shares of Palantir Technologies by 2.6% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 8,192 shares of the company’s stock valued at $1,198,000 after buying an additional 205 shares during the period. Redwood Investment Management LLC acquired a new position in shares of Palantir Technologies during the first quarter valued at $1,591,000. Ballast Advisors LLC acquired a new position in shares of Palantir Technologies during the first quarter valued at $29,000. Wealth High Governance Capital Ltda bought a new position in Palantir Technologies in the first quarter valued at about $1,024,000. Finally, Wealth High Governance Asset Management Ltda. bought a new position in Palantir Technologies in the first quarter valued at about $879,000. Institutional investors and hedge funds own 45.65% of the company’s stock.
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.
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