Wedbush Equities Analysts Lower Earnings Estimates for PLTR

Palantir Technologies Inc. (NASDAQ:PLTR) – Wedbush decreased their FY2024 earnings per share estimates for Palantir Technologies in a report released on Wednesday, January 22nd. Wedbush analyst D. Ives now forecasts that the company will post earnings of $0.17 per share for the year, down from their prior forecast of $0.21. Wedbush currently has a “Outperform” rating and a $90.00 target price on the stock. The consensus estimate for Palantir Technologies’ current full-year earnings is $0.20 per share. Wedbush also issued estimates for Palantir Technologies’ Q4 2024 earnings at $0.02 EPS, Q2 2025 earnings at $0.07 EPS and Q3 2025 earnings at $0.08 EPS.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the business posted $0.03 earnings per share. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis.

Several other brokerages also recently issued reports on PLTR. UBS Group started coverage on Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price objective for the company. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Northland Securities increased their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird assumed coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Price Performance

Shares of PLTR opened at $80.23 on Monday. The company has a market capitalization of $182.77 billion, a P/E ratio of 401.17, a PEG ratio of 7.08 and a beta of 2.82. Palantir Technologies has a one year low of $16.03 and a one year high of $84.80. The business’s 50 day simple moving average is $72.25 and its 200-day simple moving average is $49.52.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its stake in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Palantir Technologies in the 2nd quarter valued at about $30,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. The trade was a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. Insiders own 12.93% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.