Palantir Technologies (NASDAQ:PLTR) Shares Up 9.2% – Here’s Why
by Doug Wharley · The Cerbat GemPalantir Technologies Inc. (NASDAQ:PLTR – Get Free Report)’s share price shot up 9.2% on Friday . The company traded as high as $157.78 and last traded at $156.54. 91,668,697 shares were traded during trading, an increase of 89% from the average session volume of 48,490,867 shares. The stock had previously closed at $143.34.
Trending Headlines about Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Investors are bidding up PLTR after Dell’s blockbuster earnings helped validate Palantir’s AI Factory partnership, reinforcing confidence in enterprise AI spending and lifting software names broadly. PLTR Stock Alert: Why Palantir Is Getting a Boost from Dell Earnings
- Positive Sentiment: Strong demand for AI software is also supporting PLTR, with articles pointing to renewed optimism across the sector after Snowflake’s results and a broader rebound in software stocks. Palantir Stock Is Having Its Best Day in a Year. Software Looks Like a Buy Again.
- Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside, adding to momentum in the shares.
- Positive Sentiment: Several pieces highlighted improving technicals, including a possible structural bottom and trend reversal, which can attract momentum and algorithmic buyers. Palantir (PLTR) Price Forecast: Structural Bottom Signals Trend Reversal
- Neutral Sentiment: Analyst-related commentary noted upside potential from current price targets and recent earnings estimate revisions, but this is more supportive than a direct stock-moving catalyst. Does Palantir Technologies (PLTR) Have the Potential to Rally 35.91% as Wall Street Analysts Expect?
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on PLTR. Citigroup increased their price target on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada reissued an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a report on Tuesday, May 5th. DA Davidson decreased their price target on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Freedom Capital raised shares of Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Friday, February 13th. Finally, Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $192.76.
Read Our Latest Stock Report on Palantir Technologies
Palantir Technologies Stock Up 9.2%
The firm’s 50-day simple moving average is $141.62 and its 200-day simple moving average is $156.13. The firm has a market capitalization of $375.27 billion, a PE ratio of 175.89, a price-to-earnings-growth ratio of 2.10 and a beta of 1.52.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue was up 84.7% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.
Insider Buying and Selling at Palantir Technologies
In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This trade represents a 20.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the sale, the insider directly owned 199,759 shares in the company, valued at approximately $27,175,214.36. This trade represents a 8.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 922,524 shares of company stock valued at $125,501,302. 9.53% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Palantir Technologies
A number of large investors have recently added to or reduced their stakes in the company. Milestone Asset Management LLC grew its stake in shares of Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock worth $10,763,000 after purchasing an additional 42,173 shares during the period. GPS Wealth Strategies Group LLC grew its stake in shares of Palantir Technologies by 26.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 58,548 shares of the company’s stock worth $10,680,000 after purchasing an additional 12,229 shares during the period. VCI Wealth Management LLC grew its stake in shares of Palantir Technologies by 42.3% during the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock worth $2,166,000 after purchasing an additional 3,621 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Palantir Technologies by 135.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company’s stock worth $98,659,000 after purchasing an additional 310,942 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares during the period. Institutional investors own 45.65% of the company’s stock.
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.