DA Davidson Has Bullish Outlook for PLTR FY2024 Earnings

Palantir Technologies Inc. (NYSE:PLTR) – Stock analysts at DA Davidson lifted their FY2024 EPS estimates for Palantir Technologies in a report released on Tuesday, November 5th. DA Davidson analyst G. Luria now expects that the company will post earnings per share of $0.21 for the year, up from their previous forecast of $0.17. DA Davidson currently has a “Neutral” rating and a $47.00 target price on the stock. The consensus estimate for Palantir Technologies’ current full-year earnings is $0.19 per share.

PLTR has been the topic of a number of other research reports. The Goldman Sachs Group increased their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Mizuho increased their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.71.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $58.42 on Thursday. The firm has a market capitalization of $130.83 billion, a P/E ratio of 290.86 and a beta of 2.70. Palantir Technologies has a one year low of $15.66 and a one year high of $58.48. The business has a fifty day moving average price of $39.60 and a 200-day moving average price of $30.33.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the firm earned $0.03 EPS. Palantir Technologies’s revenue for the quarter was up 30.0% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the second quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the second quarter worth about $30,000. Finally, Beacon Capital Management LLC increased its holdings in Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the transaction, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,482,878 shares of company stock valued at $1,044,202,496. Corporate insiders own 12.93% of the company’s stock.

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.