Palantir Technologies (NASDAQ:PLTR) Trading 1.4% Higher – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 1.4% during trading on Tuesday . The stock traded as high as $138.90 and last traded at $134.37. Approximately 52,220,444 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 47,613,566 shares. The stock had previously closed at $132.54.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir expanded its partnership with GNP Seguros, marking its first publicly announced commercial customer in Latin America and reinforcing the company’s international enterprise growth story. Palantir Technologies (PLTR) Expands Partnership with GNP Seguros
• Positive Sentiment: Palantir also announced new partnerships with Rackspace and SNP to accelerate enterprise AI deployments in regulated and sovereign markets, which supports its commercialization narrative. Rackspace Technology Launches Operating Framework with Palantir for Regulated Enterprises to Accelerate Enterprise AI in Production
• Positive Sentiment: Several bullish commentary pieces argued that Palantir still has meaningful upside because of strong financial results, accelerating growth, and a software platform that is difficult to replicate. Here’s How Much More Upside Is Left in Palantir Stock, According to Wall Street Analysts
• Neutral Sentiment: Analyst coverage remains supportive overall, with articles highlighting a lower risk-reward profile after the recent pullback and suggesting the stock may have more room to run if growth stays strong. Palantir Stock: Accelerating Growth Improves the Risk-Reward Profile
• Neutral Sentiment: Palantir also remains a polarizing high-valuation AI name, with fresh commentary focused on its rich P/E ratio and debate over whether the stock’s premium is justified. Palantir: Implications Of 90x P/E
• Negative Sentiment: Political and regulatory headlines continue to weigh on sentiment, including reports that scrutiny over Palantir’s government contracts and ethics could threaten parts of its public-sector business. Palantir says UK police contract wrongly blocked over perceived ‘values’
• Negative Sentiment: Investors are also rotating out of expensive AI software names, and articles note that Palantir sold off alongside the broader sector as traders grew more cautious about lofty valuations. What Is Going on With Palantir Stock on Wednesday?

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLTR. BNP Paribas Exane assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They set an “underperform” rating for the company. Phillip Securities increased their price target on Palantir Technologies from $190.00 to $202.00 in a research note on Monday, May 11th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and cut their price target for the company from $205.00 to $151.00 in a report on Friday, May 1st. BTIG Research cut Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Finally, Weiss Ratings downgraded Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

Palantir Technologies Stock Down 2.8%

The company has a 50 day simple moving average of $133.05 and a two-hundred day simple moving average of $146.99. The company has a market capitalization of $308.14 billion, a P/E ratio of 144.42, a PEG ratio of 2.15 and a beta of 1.56.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $255,680.00. Following the transaction, the director owned 55,022 shares in the company, valued at $8,803,520. This trade represents a 2.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,112,270 shares of company stock valued at $150,247,785 over the last 90 days. 9.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares during the last quarter. State Street Corp lifted its holdings in Palantir Technologies by 1.1% during the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock valued at $18,198,990,000 after buying an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Palantir Technologies by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after buying an additional 805,047 shares in the last quarter. Norges Bank purchased a new stake in Palantir Technologies in the 4th quarter valued at about $5,149,641,000. Finally, Invesco Ltd. grew its stake in Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock worth $3,984,281,000 after acquiring an additional 616,297 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.