Wedbush Expects Weaker Earnings for Palantir Technologies

Palantir Technologies Inc. (NASDAQ:PLTR) – Wedbush reduced their FY2024 EPS estimates for Palantir Technologies in a research report issued to clients and investors on Wednesday, January 22nd. Wedbush analyst D. Ives now anticipates that the company will earn $0.17 per share for the year, down from their previous estimate of $0.21. Wedbush has a “Outperform” rating and a $90.00 price objective 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.

PLTR has been the subject of a number of other reports. DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 target price for the company. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Stock Up 6.3 %

Palantir Technologies stock opened at $80.23 on Monday. The firm’s 50-day simple moving average is $72.25 and its 200 day simple moving average is $49.52. Palantir Technologies has a 52 week low of $16.03 and a 52 week high of $84.80. The firm has a market capitalization of $182.77 billion, a PE ratio of 401.17, a P/E/G ratio of 7.08 and a beta of 2.82.

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

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the transaction, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now 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. Insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522 over the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

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

About Palantir Technologies

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.