Palantir Technologies (NYSE:PLTR) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Palantir Technologies Trading Up 1.9 %

Shares of NYSE:PLTR traded up $0.51 during trading on Wednesday, reaching $27.10. 11,425,920 shares of the stock were exchanged, compared to its average volume of 54,739,000. Palantir Technologies has a 12 month low of $13.68 and a 12 month high of $29.83. The firm has a market cap of $60.35 billion, a PE ratio of 221.58, a PEG ratio of 6.02 and a beta of 2.71. The stock has a 50-day moving average price of $25.54 and a 200-day moving average price of $23.45.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the transaction, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The disclosure for this sale can be found here. Insiders sold a total of 5,164,396 shares of company stock worth $108,289,707 over the last quarter. Company insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. Citigroup upped their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Finally, HSBC upped their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Seven equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.10.

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.