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

Palantir Technologies (NYSE:PLTR) posted its earnings results on Monday. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01, Briefing.com reports. The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. Palantir Technologies updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.

Palantir Technologies Stock Up 1.9 %

Shares of Palantir Technologies stock traded up $0.51 during mid-day trading on Wednesday, hitting $27.10. The stock had a trading volume of 11,425,920 shares, compared to its average volume of 54,739,000. The firm has a 50-day moving average of $25.54 and a two-hundred day moving average of $23.45. Palantir Technologies has a 12-month low of $13.68 and a 12-month high of $29.83. The firm has a market cap of $60.35 billion, a P/E ratio of 221.58, a price-to-earnings-growth ratio of 6.02 and a beta of 2.71.

Insider Transactions at Palantir Technologies

In other news, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the transaction, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now owns 651,099 shares in the company, valued at $13,953,051.57. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now owns 15,733,625 shares of the company’s stock, valued at $326,944,727.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,164,396 shares of company stock worth $108,289,707. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PLTR shares. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. DA Davidson lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Friday, August 2nd. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday. Seven analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.10.

Palantir Technologies Company Profile

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.