Palantir Technologies (NYSE:PLTR) Announces Quarterly Earnings Results

Palantir Technologies (NYSE:PLTR) posted its quarterly earnings data on Monday. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01, Briefing.com reports. The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. Palantir Technologies updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Palantir Technologies Trading Up 10.4 %

PLTR stock traded up $2.50 during midday trading on Tuesday, reaching $26.59. 99,343,635 shares of the company’s stock traded hands, compared to its average volume of 55,024,922. Palantir Technologies has a 52-week low of $13.68 and a 52-week high of $29.83. The stock has a market cap of $59.21 billion, a P/E ratio of 225.58, a PEG ratio of 6.02 and a beta of 2.71. The stock’s 50-day moving average is $25.43 and its 200 day moving average is $23.39.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Glazer sold 90,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the transaction, the insider now owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,450,229 shares of company stock valued at $242,366,525. Insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research reports. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday. HSBC upped their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Seven analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.54.

About Palantir Technologies

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.