Palantir Technologies Inc (NYSE:PLTR) – Investors View The Stock Differently Today

In the last trading session, 69.15 million shares of the Palantir Technologies Inc (NYSE:PLTR) were traded, and its beta was 2.79. Most recently the company’s share price was $23.01, and it changed around -$1.5 or -6.12% from the last close, which brings the market valuation of the company to $50.91B. PLTR currently trades at a discount to its 52-week high of $27.50, offering almost -19.51% off that amount. The share price’s 52-week low was $7.28, which indicates that the current value has risen by an impressive 68.36% since then. We note from Palantir Technologies Inc’s average daily trading volume that its 10-day average is 43.2 million shares, with the 3-month average coming to 70.81 million.

Palantir Technologies Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.30. If we narrow it down even further, the data shows that 3 out of 17 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 8 recommended PLTR as a Hold, whereas 2 deemed it a Buy, and 2 rated it as Underweight. Palantir Technologies Inc is expected to report earnings per share of $0.08 for the current quarter.

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Palantir Technologies Inc (NYSE:PLTR) trade information

Instantly PLTR has showed a red trend with a performance of -6.12% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 34.01% year-to-date, but still down -6.04% over the last five days. On the other hand, Palantir Technologies Inc (NYSE:PLTR) is -5.77% down in the 30-day period. We can see from the shorts that 82.72 million shares have been sold at a short interest cover period of 1.14 day(s).

The consensus price target as assigned by Wall Street analysts is $12.21, which translates to bulls needing to decrease their stock price by -88.45% from its current value. Analyst projections state that PLTR is forecast to be at a low of $4.5 and a high of $25.

Palantir Technologies Inc (PLTR) estimates and forecasts

Palantir Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 54.95 percent over the past six months and at a 32.00% annual growth rate that is well above the industry average of 16.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 60.00% in revenue this quarter, and will report an increase of 60.00% in the next quarter. The year-over-year growth rate is expected to be 21.90%, up from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $625.33 million in revenue for the current quarter. 12 analysts expect Palantir Technologies Inc to make $653.37 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $525.19 million and $532.71 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 19.10%. Forecasts for the next quarter put sales growth at 22.70%.

PLTR Dividends

Palantir Technologies Inc’s next quarterly earnings report is expected to be released around May 06 and May 10.

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

Upon looking at major shareholders, it appears that insiders hold 6.20% of Palantir Technologies Inc shares, and 41.42% of them are in the hands of institutional investors. The stock currently has a share float of 44.15%. Palantir Technologies Inc stock is held by 1,307 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 9.18% of the shares, which is about 193.81 million shares worth $4.46 billion.

Blackrock Inc., with 5.33% or 112.53 million shares worth $2.59 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 61.74 million shares worth $1.42 billion, making up 2.92% of all outstanding shares. On the other hand, Vanguard Mid-Cap Index Fund held roughly 43.8 million shares worth around $1.01 billion, which represents about 2.07% of the total shares outstanding.