Palantir Technologies (NYSE:PLTR) Issues Earnings Results, Beats Expectations By $0.01 EPS

Palantir Technologies (NYSE:PLTR) released its quarterly earnings data on Monday. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01, Briefing.com reports. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 EPS. Palantir Technologies updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Palantir Technologies Stock Performance

Shares of NYSE:PLTR opened at $51.15 on Wednesday. Palantir Technologies has a 1 year low of $15.66 and a 1 year high of $51.58. The stock has a 50-day simple moving average of $38.19 and a 200-day simple moving average of $29.75. The stock has a market capitalization of $114.55 billion, a P/E ratio of 300.90 and a beta of 2.70.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,204,508 shares of company stock worth $802,654,666. Company insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PLTR shares. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wedbush boosted their price target on Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Bank of America raised their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.93.

About Palantir Technologies

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