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Palantir Technologies Inc. (NYSE: PLTR) Stocks Rise 24.38% YTD; What Next For It?

Palantir Technologies Inc. (NYSE:PLTR)’s traded shares stood at 5.56 million during the last session. At the last check today, the stock’s price was $7.99, to imply an increase of 1.08% or $0.09 in intraday trading. The PLTR share’s 52-week high remains $14.86, putting it -85.98% down since that peak but still an impressive 26.91% since price per share fell to its 52-week low of $5.84. The company has a valuation of $17.37B, with an average of 36.91 million shares in intraday trading volume over the past 10 days and average of 43.40 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Palantir Technologies Inc. (PLTR), translating to a mean rating of 3.20. Of 18 analyst(s) looking at the stock, 5 analyst(s) give PLTR a Sell rating. 0 of those analysts rate the stock as Overweight while 10 advise Hold as 3 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.04.

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Palantir Technologies Inc. (NYSE:PLTR) trade information

After registering a 1.08% upside in the latest session, Palantir Technologies Inc. (PLTR) has traded red over the past five days. The stock hit a weekly high of 8.15 this Wednesday, 03/15/23, jumping 1.08% in its intraday price action. The 5-day price performance for the stock is 3.84%, and -13.39% over 30 days. With these gigs, the year-to-date price performance is 24.38%. Short interest in Palantir Technologies Inc. (NYSE:PLTR) saw shorts transact 121.35 million shares and set a 3.96 days time to cover.

Analysts on Wall Street suggest a consensus price target of $8.71, implying an increase of 8.27% to the stock’s recent value. The extremes give us $5.00 and $15.00 for target low and target high price respectively. As such, PLTR has been trading -87.73% off suggested target high and 37.42% from its likely low.

Palantir Technologies Inc. (PLTR) estimates and forecasts

Looking at statistics comparing Palantir Technologies Inc. share performance against respective industry, we note that the company has outperformed competitors. Palantir Technologies Inc. (PLTR) shares are 4.65% up over the last 6 months, with its year-to-date growth rate higher than industry average at 233.33% against 17.60%. Revenue is forecast to grow 100.00% this quarter before jumping 600.00% for the next one. The rating firms project that company’s revenue will grow 15.70% compared to the previous financial year.

Revenue forecast for the current quarter as set by 11 analysts is $505.6 million. Meanwhile, for the quarter ending Jun 2023, a total of 11 analyst(s) estimate revenue growth to $536.1 million.Earnings reports from the last fiscal year show that sales brought in $446.36 million and $473.01 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 13.30% before jumping 13.30% in the following quarter.

PLTR Dividends

Palantir Technologies Inc. has its next earnings report out between May 08 and May 12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Palantir Technologies Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Palantir Technologies Inc. (NYSE:PLTR)’s Major holders

Palantir Technologies Inc. insiders hold 11.27% of total outstanding shares, with institutional holders owning 34.81% of the shares at 39.23% float percentage. In total, 34.81% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Dec 30, 2022, the company held over 161.64 million shares (or 8.09% of shares), all amounting to roughly $1.29 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 96.69 million shares, or about 4.84% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $773.4 million.

We also have Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund as the top two Mutual Funds with the largest holdings of the Palantir Technologies Inc. (PLTR) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 49.78 million shares. This is just over 2.51% of the total shares, with a market valuation of $398.14 million. Data from the same date shows that the other fund manager holds a little less at 38.12 million, or 1.93% of the shares, all valued at about 304.88 million.

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