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

Palantir Technologies (NYSE:PLTR) posted its earnings results on Monday. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01, Briefing.com reports. The firm 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 prior year, the business earned $0.01 earnings per share. Palantir Technologies updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Palantir Technologies Stock Up 10.4 %

NYSE:PLTR traded up $2.50 during trading hours on Tuesday, hitting $26.59. 99,343,635 shares of the company traded hands, compared to its average volume of 55,024,922. The firm’s 50-day simple moving average is $25.43 and its 200-day simple moving average is $23.39. Palantir Technologies has a one year low of $13.68 and a one year high of $29.83. The company has a market cap of $59.21 billion, a PE ratio of 225.58, a PEG ratio of 6.02 and a beta of 2.71.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PLTR shares. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday. Jefferies Financial Group upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. HSBC upped their price objective on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Finally, Argus initiated coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $22.54.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the transaction, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the sale, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric H. Woersching sold 26,000 shares of Palantir Technologies stock in a transaction on Friday, June 7th. The stock was sold at an average price of $23.32, for a total value of $606,320.00. Following the sale, the director now owns 38,843 shares in the company, valued at $905,818.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,450,229 shares of company stock worth $242,366,525. Corporate insiders own 12.93% of the company’s stock.

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.