Wedbush Cuts Earnings Estimates for Palantir Technologies

Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) - Investment analysts at Wedbush lowered their FY2024 earnings per share estimates for shares of Palantir Technologies in a research report issued to clients and investors on Wednesday, January 22nd. Wedbush analyst D. Ives now forecasts that the company will post earnings per share of $0.17 for the year, down from their prior forecast of $0.21. Wedbush has a "Outperform" rating and a $90.00 price target on the stock. The consensus estimate for Palantir Technologies' current full-year earnings is $0.20 per share. Wedbush also issued estimates for Palantir Technologies' Q4 2024 earnings at $0.02 EPS, Q2 2025 earnings at $0.07 EPS and Q3 2025 earnings at $0.08 EPS.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. During the same period last year, the firm earned $0.03 EPS. The firm's revenue for the quarter was up 30.0% on a year-over-year basis.

Other analysts have also recently issued reports about the company. Robert W. Baird began coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price target for the company. Cantor Fitzgerald began coverage on Palantir Technologies in a research report on Friday, January 17th. They set a "neutral" rating and a $72.00 price target for the company. DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Mizuho raised their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an "underperform" rating in a research report on Friday, December 13th. Finally, Baird R W raised Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $44.61.

Palantir Technologies Stock Performance

Palantir Technologies stock traded down $4.27 during mid-day trading on Monday, reaching $74.71. 64,264,549 shares of the company were exchanged, compared to its average volume of 69,988,008. Palantir Technologies has a twelve month low of $16.03 and a twelve month high of $84.80. The firm's 50-day simple moving average is $71.96 and its two-hundred day simple moving average is $49.18. The firm has a market cap of $170.19 billion, a PE ratio of 372.87, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in shares of Palantir Technologies by 20.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company's stock valued at $1,336,000 after acquiring an additional 9,109 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Palantir Technologies by 14.9% during the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company's stock valued at $332,000 after acquiring an additional 1,702 shares during the last quarter. AXA S.A. lifted its position in shares of Palantir Technologies by 443.5% during the 2nd quarter. AXA S.A. now owns 116,302 shares of the company's stock valued at $2,946,000 after acquiring an additional 94,903 shares during the last quarter. Legal & General Group Plc raised its stake in Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company's stock valued at $301,871,000 after purchasing an additional 167,030 shares during the period. Finally, Sepio Capital LP acquired a new stake in Palantir Technologies during the 2nd quarter valued at $245,000. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares of the company's stock, valued at $6,576,322.50. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company's stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.