DA Davidson Has Bullish Forecast for PLTR FY2024 Earnings

Palantir Technologies Inc. (NYSE:PLTR) – Equities research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for Palantir Technologies in a report issued on Tuesday, November 5th. DA Davidson analyst G. Luria now forecasts that the company will post earnings per share of $0.21 for the year, up from their previous forecast of $0.17. DA Davidson currently has a “Neutral” rating and a $47.00 target price on the stock. The consensus estimate for Palantir Technologies’ current full-year earnings is $0.19 per share.

Several other equities research analysts have also recently commented on PLTR. 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, August 6th. Citigroup raised their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday. Monness Crespi & Hardt dropped their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Trading Up 0.6 %

PLTR stock opened at $55.87 on Thursday. The stock has a market capitalization of $125.12 billion, a PE ratio of 278.85 and a beta of 2.70. The stock’s 50 day simple moving average is $39.10 and its 200 day simple moving average is $30.15. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $56.47.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 10.41%. The business’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 company earned $0.03 earnings per share.

Institutional Trading of Palantir Technologies

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after purchasing an additional 6,641,253 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Palantir Technologies by 248,208.2% during the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after buying an additional 3,623,840 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares during the period. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after acquiring an additional 3,029,317 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Palantir Technologies by 226.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after acquiring an additional 1,969,213 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the completion of the transaction, the insider now directly owns 612,006 shares of the company’s stock, valued at approximately $18,507,061.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $353,967,157.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,482,878 shares of company stock valued at $1,044,202,496. 12.93% of the stock is currently owned by corporate insiders.

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.