Palantir Technologies (NASDAQ:PLTR) Trading 4.7% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 4.7% during mid-day trading on Thursday . The stock traded as high as $179.91 and last traded at $179.01. 36,174,939 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 47,082,961 shares. The stock had previously closed at $171.04.

Palantir Technologies News Summary

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

• Positive Sentiment: Strong earnings momentum remains the primary catalyst. Palantir reported revenue of $1.94 billion, up 92.8% year over year and above expectations, while adjusted earnings per share exceeded consensus estimates. The company also raised its full-year outlook, reinforcing expectations for accelerating growth. Palantir’s “Otherworldly” Quarter Sends Shares Soaring 30%
• Positive Sentiment: Investors see Palantir’s Artificial Intelligence Platform (AIP) as a major long-term growth driver. Coverage highlights expanding enterprise adoption, stronger commercial demand and the potential for AIP to broaden Palantir beyond its traditional government-contracting base. Palantir AIP Could Deliver a Powerful Shift in the Company’s Growth Trajectory
• Positive Sentiment: Market sentiment toward AI-linked software has improved. A broader risk-on environment and optimism about U.S. demand for AI are helping Palantir and other technology shares break above recent technical buy points. Palantir Shares Edge Higher Thursday: What’s Driving the Action?
• Neutral Sentiment: Palantir-backed drone company Ondas reported revenue growth of more than 1,200%, but wider losses pushed Ondas shares lower. The result offers limited direct read-through for Palantir, though it underscores the execution risks facing AI and autonomous-systems partners. Revenue at Palantir-Backed Ondas Rises 1,236%
• Negative Sentiment: Valuation remains the key risk. With Palantir trading at roughly 153 times earnings and a very high price-to-sales multiple, analysts warn that the stock has little room for weaker growth or disappointing guidance. Short seller Michael Burry has also reiterated his bearish view, while ARK Invest has been selling into the rally. Jefferies’ Latest Warning on Palantir

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLTR. Northland Securities set a $200.00 price objective on Palantir Technologies in a research note on Tuesday, August 4th. Jefferies Financial Group reissued an “underperform” rating and set a $80.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 4th. BNP Paribas Exane began coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research note on Tuesday, August 4th. Finally, HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $205.00 to $151.00 in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Moderate Buy” and an average price target of $192.19.

Palantir Technologies Stock Performance

The business has a fifty day simple moving average of $133.08 and a 200-day simple moving average of $139.85. The firm has a market cap of $429.14 billion, a price-to-earnings ratio of 153.00, a PEG ratio of 2.49 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was up 92.8% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies Inc. will post 1.26 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the sale, the insider directly owned 60,226 shares of the company’s stock, valued at $7,757,108.80. The trade was a 2.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 3,032 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $165.00, for a total transaction of $500,280.00. Following the completion of the transaction, the director owned 54,107 shares of the company’s stock, valued at approximately $8,927,655. This trade represents a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,150,302 shares of company stock valued at $156,197,565 in the last quarter. 9.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $5,149,641,000. Jennison Associates LLC bought a new stake in Palantir Technologies in the first quarter worth approximately $1,574,111,000. Arrowstreet Capital Limited Partnership lifted its stake in Palantir Technologies by 277.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after buying an additional 7,678,747 shares during the period. State Street Corp lifted its stake in Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the period. Finally, Cardano Risk Management B.V. boosted its holdings in shares of Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after buying an additional 5,938,343 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

About Palantir Technologies

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.