Palantir Technologies (NASDAQ:PLTR) Issues Earnings Results, Beats Estimates By $0.04 EPS

Palantir Technologies (NASDAQ:PLTRGet Free Report) posted its quarterly earnings data on Monday. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04, FiscalAI reports. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion.

Palantir Technologies Stock Up 1.4%

Shares of NASDAQ:PLTR traded up $2.00 during trading on Monday, reaching $146.07. 58,641,689 shares of the company traded hands, compared to its average volume of 49,122,051. The firm has a fifty day simple moving average of $145.27 and a 200 day simple moving average of $162.50. The firm has a market cap of $349.35 billion, a P/E ratio of 231.86, a price-to-earnings-growth ratio of 2.69 and a beta of 1.52. Palantir Technologies has a 1-year low of $105.32 and a 1-year high of $207.52.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $205.00 to $151.00 in a research note on Friday. Rosenblatt Securities reissued a “buy” rating and set a $200.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 25th. Citigroup decreased their target price on shares of Palantir Technologies from $260.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, April 28th. UBS Group lifted their target price on shares of Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $200.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Moderate Buy” and an average target price of $192.17.

View Our Latest Stock Report on PLTR

Insider Buying and Selling at Palantir Technologies

In other news, insider David A. Glazer sold 17,438 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $2,331,809.36. Following the transaction, the insider owned 392,370 shares in the company, valued at approximately $52,467,716.40. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 168,004 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total transaction of $22,465,494.88. Following the transaction, the insider owned 642,786 shares in the company, valued at $85,953,343.92. This represents a 20.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,029,479 shares of company stock worth $137,685,797 in the last ninety days. Company insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in shares of Palantir Technologies by 1.1% during the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock valued at $18,198,990,000 after purchasing an additional 1,126,418 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Palantir Technologies by 3.8% during the 3rd quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock valued at $3,846,957,000 after purchasing an additional 769,238 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Palantir Technologies by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,165,321 shares of the company’s stock valued at $2,873,387,000 after purchasing an additional 970,070 shares in the last quarter. Amundi raised its holdings in shares of Palantir Technologies by 2.1% during the 4th quarter. Amundi now owns 16,012,307 shares of the company’s stock valued at $2,846,188,000 after purchasing an additional 333,149 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,947,000 shares of the company’s stock valued at $2,834,579,000 after purchasing an additional 422,249 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Earnings History for Palantir Technologies (NASDAQ:PLTR)

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