In the latest trading session, 7.48 million Palantir Technologies Inc. (NYSE:PLTR) shares changed hands as the company’s beta touched 2.78. With the company’s most recent per share price at $15.29 changed hands at -$0.04 or -0.26% at last look, the market valuation stands at $33.96B. PLTR’s current price is a discount, trading about -32.37% off its 52-week high of $20.24. The share price had its 52-week low at $5.84, which suggests the last value was 61.81% up since then. When we look at Palantir Technologies Inc.’s average trading volume, we note the 10-day average is 42.72 million shares, with the 3-month average coming to 64.46 million.
Analysts gave the Palantir Technologies Inc. (PLTR) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 3.30. If we narrow down to specifics, the data shows that 6 out of 19 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 7 recommended PLTR as a Hold, 2 felt it is a Buy and 2 rated the stock as Underweight. Palantir Technologies Inc.’s EPS for the current quarter is expected to be $0.06.
Palantir Technologies Inc. (NYSE:PLTR) trade information
Instantly PLTR was in red as seen in intraday trades today. With action -3.17%, the performance over the past five days has been red. The drop to weekly highs of 16.15 on Friday, 09/15/23 subtracted -0.26% to the stock’s daily price. The company’s shares are showing year-to-date upside of 138.16%, with the 5-day performance at -3.17% in the red. However, in the 30-day time frame, Palantir Technologies Inc. (NYSE:PLTR) is 8.06% up. Looking at the short shares, we see there were 155.59 million shares sold at short interest cover period of 2.03 days.
The consensus price target for the stock as assigned by Wall Street analysts is $14.36, meaning bulls need a downside of -6.48% from its recent market value. According to analyst projections, PLTR’s forecast low is $5.00 with $25.00 as the target high. To hit the forecast high, the stock’s price needs a -63.51% plunge from its current level, while the stock would need to tank 67.3% for it to hit the projected low.
Palantir Technologies Inc. (PLTR) estimates and forecasts
Data shows that the Palantir Technologies Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 94.04% over the past 6 months, a 283.33% in annual growth rate that is considerably higher than the industry average of 17.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Palantir Technologies Inc. will rise 500.00%, while the growth in revenue is estimated to hit 75.00% for the next quarter. Year-over-year growth is forecast to reach 16.10% up from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $555.36 million. 11 analysts are of the opinion that Palantir Technologies Inc.’s revenue for the quarter ending Dec 2023 will be $599.66 million. The company’s revenue for the corresponding quarters a year ago was $470.31 million and $508.62 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 18.10%. The estimates for the next quarter sales put growth at 17.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -19.61%. The 2023 estimates are for Palantir Technologies Inc. earnings to increase by 33.10%.
Palantir Technologies Inc. is expected to release its next quarterly earnings report between November 06 and November 10.
Palantir Technologies Inc. (NYSE:PLTR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.13% of Palantir Technologies Inc. shares while 35.28% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 39.70%. There are 35.28% institutions holding the Palantir Technologies Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.23% of the shares, roughly 168.58 million PLTR shares worth $2.61 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.03% or 103.05 million shares worth $1.59 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. With 53.42 million shares estimated at $825.97 million under it, the former controlled 2.61% of total outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held about 1.92% of the shares, roughly 39.41 million shares worth around $609.26 million.