Palantir Technologies (NASDAQ:PLTR) Shares Up 2.8% – Here’s What Happened

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) shot up 2.8% during mid-day trading on Thursday . The company traded as high as $134.48 and last traded at $133.73. 36,679,395 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 49,568,816 shares. The stock had previously closed at $130.05.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir continues to benefit from bullish coverage after its strong Q1 results, with articles highlighting accelerating revenue growth, expanding U.S. commercial demand, and several analysts maintaining or raising optimistic price targets. Palantir’s Critics Are “Right”—But They’re Also Still Wrong
• Positive Sentiment: Recent defense-related headlines also support the long-term bull case, including expanded AI and battlefield-data cooperation with Ukraine and plans to scale interoperability across the U.S. Army, reinforcing Palantir’s role in government and defense spending. Palantir Ukraine AI Deal Puts Battlefield Data At Center Of Growth Narrative
• Positive Sentiment: Some traders are still betting on a rebound, with unusual call-option buying suggesting investors see the recent pullback as an opportunity. Palantir Shows Huge Unusual Call Options Buying – PLTR Could Be Cheap Here
• Neutral Sentiment: Multiple commentary pieces today frame Palantir as expensive but still high quality, which keeps the stock in focus but does not clearly resolve the near-term direction.
• Negative Sentiment: Bearish articles are pressuring sentiment by arguing that PLTR’s valuation is stretched, insiders are selling more than buying, and the stock may be vulnerable after a strong run. When It Comes to Palantir, the Roar of the Bears Is Too Loud to Ignore
• Negative Sentiment: Competition is also becoming a concern after Alphabet’s updated classified DoD contract for Gemini AI raised fears that Palantir could face tougher rivalry for government AI spending. Why Palantir Suddenly Looks Vulnerable After Google’s Move (PLTR)

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLTR. UBS Group increased their price objective on shares of Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. William Blair upgraded shares of Palantir Technologies from a “market perform” rating to an “outperform” rating in a research note on Monday, February 2nd. Piper Sandler restated an “overweight” rating and issued a $230.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 3rd. Royal Bank Of Canada reiterated an “underperform” rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. Finally, DZ Bank began coverage on shares of Palantir Technologies in a research report on Thursday, April 23rd. They set a “buy” rating and a $175.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.16.

Palantir Technologies Stock Performance

The firm has a market cap of $319.84 billion, a price-to-earnings ratio of 150.26, a PEG ratio of 2.16 and a beta of 1.52. The business’s 50-day moving average is $145.28 and its 200-day moving average is $160.33.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. Equities research analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 168,004 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $22,465,494.88. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at approximately $85,953,343.92. This trade represents a 20.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 493,025 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the completion of the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $860,507,475.24. The trade was a 7.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,029,479 shares of company stock worth $137,685,797 over the last ninety days. Company insiders own 9.53% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after acquiring an additional 1,557,828 shares in the last quarter. State Street Corp increased its position in Palantir Technologies by 1.1% in the 4th quarter. State Street Corp now owns 102,385,317 shares of the company’s stock valued at $18,198,990,000 after acquiring an additional 1,126,418 shares in the last quarter. Geode Capital Management LLC increased its position in Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after acquiring an additional 805,047 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at about $5,149,641,000. Finally, Invesco Ltd. increased its position in Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after acquiring an additional 616,297 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.