Palantir Technologies Inc. (NYSE:PLTR) to Post FY2024 Earnings of $0.16 Per Share, DA Davidson Forecasts

Palantir Technologies Inc. (NYSE:PLTR) – Analysts at DA Davidson lowered their FY2024 earnings estimates for Palantir Technologies in a research note issued on Tuesday, May 7th. DA Davidson analyst G. Luria now forecasts that the company will post earnings of $0.16 per share for the year, down from their previous forecast of $0.17. DA Davidson has a “Neutral” rating and a $24.00 price objective on the stock. The consensus estimate for Palantir Technologies’ current full-year earnings is $0.16 per share.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price objective for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Bank of America raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Royal Bank of Canada boosted their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.65.

Palantir Technologies Trading Up 0.7 %

NYSE PLTR opened at $21.56 on Thursday. The firm has a market cap of $47.71 billion, a PE ratio of 239.58, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. Palantir Technologies has a 1-year low of $8.65 and a 1-year high of $27.50. The stock has a 50-day moving average of $23.34 and a 200-day moving average of $20.35.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather A. Planishek sold 8,521 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $23.27, for a total value of $198,283.67. Following the completion of the transaction, the insider now owns 703,485 shares in the company, valued at $16,370,095.95. The disclosure for this sale can be found here. Insiders have sold 7,206,273 shares of company stock worth $178,543,602 in the last quarter. Company insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. West Paces Advisors Inc. lifted its position in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares in the last quarter. Bogart Wealth LLC lifted its holdings in shares of Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares during the last quarter. Halpern Financial Inc. grew its position in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares in the last quarter. Finally, Pacifica Partners Inc. bought a new stake in Palantir Technologies during the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.