Palantir Technologies (NYSE:PLTR) Announces Earnings Results

Palantir Technologies (NYSE:PLTR) posted its quarterly earnings data on Monday. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01, Briefing.com reports. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. Palantir Technologies updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Palantir Technologies Trading Up 23.5 %

Shares of NYSE:PLTR opened at $51.15 on Wednesday. Palantir Technologies has a 1 year low of $15.66 and a 1 year high of $51.58. The firm has a fifty day moving average price of $38.19 and a 200 day moving average price of $29.75. The stock has a market capitalization of $114.55 billion, a PE ratio of 300.90 and a beta of 2.70.

Analysts Set New Price Targets

Several analysts recently issued reports on PLTR shares. Bank of America upped their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday. Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group lifted 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. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.93.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction 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 transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was 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 directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This trade represents 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 available through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,204,508 shares of company stock worth $802,654,666. 12.93% of the stock is currently owned by insiders.

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.