Equities Analysts Offer Predictions for Palantir Technologies Inc.’s FY2024 Earnings (NYSE:PLTR)

Posted by Defense World Staff on Aug 12th, 2023

Palantir Technologies Inc. (NYSE:PLTR – Free Report) – Stock analysts at DA Davidson reduced their FY2024 earnings per share estimates for shares of Palantir Technologies in a research note issued on Tuesday, August 8th. DA Davidson analyst G. Luria now forecasts that the company will post earnings of $0.08 per share for the year, down from their previous estimate of $0.11. DA Davidson has a “Neutral” rating and a $15.00 price objective on the stock. The consensus estimate for Palantir Technologies’ current full-year earnings is $0.06 per share.

Several other analysts also recently issued reports on the company. Jefferies Financial Group boosted their price objective on Palantir Technologies from $10.00 to $14.00 in a report on Monday, June 5th. Raymond James boosted their price objective on Palantir Technologies from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday. Mizuho boosted their price objective on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on Palantir Technologies from $7.00 to $9.00 in a report on Tuesday. Finally, Bank of America upped their target price on Palantir Technologies from $13.00 to $18.00 and gave the company a “buy” rating in a report on Monday, June 12th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $12.96.

Check Out Our Latest Stock Analysis on Palantir Technologies

Palantir Technologies Stock Performance

NYSE PLTR opened at $15.41 on Friday. The stock’s 50-day moving average price is $16.24 and its two-hundred day moving average price is $11.45. The company has a market cap of $32.63 billion, a PE ratio of -513.67, a PEG ratio of 4.17 and a beta of 2.73. Palantir Technologies has a 1 year low of $5.84 and a 1 year high of $20.24.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Palantir Technologies by 98,784.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 306,971,211 shares of the company’s stock valued at $4,705,869,000 after acquiring an additional 306,660,776 shares during the period. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 22.4% in the first quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock valued at $2,141,931,000 after acquiring an additional 28,563,749 shares during the period. Renaissance Technologies LLC boosted its position in shares of Palantir Technologies by 29.8% in the fourth quarter. Renaissance Technologies LLC now owns 43,000,160 shares of the company’s stock valued at $276,061,000 after acquiring an additional 9,870,113 shares during the period. ARK Investment Management LLC bought a new stake in shares of Palantir Technologies in the second quarter valued at approximately $104,903,000. Finally, Norges Bank bought a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $39,395,000. Institutional investors own 31.57% of the company’s stock.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 269,510 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $11.76, for a total value of $3,169,437.60. Following the transaction, the insider now owns 1,603,950 shares in the company, valued at $18,862,452. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, Director Alexander D. Moore sold 21,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $19.84, for a total transaction of $434,496.00. Following the completion of the sale, the director now owns 1,786,919 shares of the company’s stock, valued at $35,452,472.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 269,510 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $11.76, for a total value of $3,169,437.60. Following the sale, the insider now directly owns 1,603,950 shares of the company’s stock, valued at approximately $18,862,452. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,907,899 shares of company stock worth $67,105,527. Insiders own 13.96% of the company’s stock.

About Palantir Technologies

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.