Palantir Technologies (NYSE:PLTR) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Palantir Technologies (NYSE:PLTR) issued its earnings results on Monday. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01, Briefing.com reports. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 10.41% and a net margin of 18.01%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. Palantir Technologies updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Palantir Technologies Price Performance

PLTR stock traded up $4.38 on Wednesday, reaching $55.51. 113,824,068 shares of the company traded hands, compared to its average volume of 57,146,773. Palantir Technologies has a one year low of $15.66 and a one year high of $55.69. The company has a market cap of $124.30 billion, a P/E ratio of 277.65 and a beta of 2.70. The firm has a fifty day simple moving average of $38.60 and a 200-day simple moving average of $29.97.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the transaction, the insider now owns 612,006 shares of the company’s stock, valued at $18,507,061.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $30.24, for a total transaction of $604,800.00. Following the completion of the transaction, the insider now owns 612,006 shares of the company’s stock, valued at $18,507,061.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 72,500 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total value of $2,260,550.00. Following the sale, the insider now owns 298,012 shares in the company, valued at approximately $9,292,014.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,204,508 shares of company stock valued at $802,654,666 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of several analyst reports. Citigroup increased their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. DA Davidson upped their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday. Monness Crespi & Hardt lowered their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Finally, Wedbush upped their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.93.

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.