Palantir Technologies (NYSE:PLTR) Announces Earnings Results

Palantir Technologies (NYSE:PLTR) released its quarterly earnings data on Monday. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01, Briefing.com reports. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period last 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 %

PLTR opened at $51.15 on Wednesday. The company has a market cap of $114.55 billion, a price-to-earnings ratio of 300.90 and a beta of 2.70. The company’s 50 day moving average is $38.19 and its 200 day moving average is $29.75. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $51.58.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares in the company, valued at $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,204,508 shares of company stock valued at $802,654,666 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Northland Securities raised their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Monness Crespi & Hardt reduced their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.93.

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.