Palantir Technologies Inc (NYSE:PLTR) finished Thursday with an addition of $0.92 to close at $15.77, an upside of 6.20 percent. An average of 50,811,160 shares of common stock have been traded in the last five days. There was a gain of $1.77 in the past week, and it reached a new high 24 times over the past 12 months. The last 20 days have seen an average of 48,457,301 shares traded, while the 50-day average volume stands at 62,032,301.
PLTR stock has increased by 2.40% in the last month. The company shares reached their 1-month lowest point of $13.68 on 09/21/23. With the stock rallying to its 52-week high on 08/01/23, shares of the company touched a low of $5.84 and a high of $20.24 in 52 weeks. It has reached a new high 27 times so far this year and achieved 145.64% or $9.35 in price. In spite of this, the price is down -22.08% from the 52-week high.
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Insider Transactions
PLTR stock investors should be aware that Palantir Technologies Inc (PLTR) stock had its last reported insider trading activity 14 days ago on Sep 15. In this transaction, the insider spent $107,184. Director, Stat Lauren Elaina Friedman, disposed of 3,595 shares at a price of $15.71 on Sep 12. The insider now owns more than $56,487 worth of shares. Prior to that, Director Woersching Eric H. went on to Sale 7,000 shares at $15.17 each on Sep 05. An amount of $106,169 was transacted.
Valuation Metrics
Palantir Technologies Inc (PLTR) stock’s beta is 2.72. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 16.59, the price-to-book (PB) ratio at 11.47, and the price-to-cash flow ratio at 81.14.
Financial Health
The quick ratio of Palantir Technologies Inc for the three months ended June 29 was 5.22, and the current ratio was 5.22, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.07 and a total debt to equity ratio of 0.08 for the quarter ending June 29. Palantir Technologies Inc’s EBITDA margin for the year ending June 29 is -5.16%, while its operating margin for the same period stands at -3.22%. Its gross profit as reported stood at $1.5 billion compared to revenue of $1.91 billion.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $28.13 million in the quarter, while revenues of $16.8 million were grew 737.5%. The analyst consensus anticipated Palantir Technologies Inc’s latest quarter earnings to come in at $0.05 per share, but it turned out to be $0.05, a 0.00% surprise. For the quarter, EBITDA amounted to $18.47 million. Shareholders own equity worth $2.15 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Palantir Technologies Inc (PLTR) price momentum. RSI 9-day as of the close on 28 September was 61.36%, suggesting the stock is Neutral, with historical volatility in this time frame at 57.17%.
As of today, PLTR’s price is $14.59 +12.64% or $1.77 from its 5-day moving average. PLTR is currently trading -3.43% lower than its 20-day SMA and +112.82% higher than its 100-day SMA. However, the stock’s current price level is -12.63% below the SMA50 and +121.80% above the SMA200.
The stochastic %K and %D were 47.77% and 30.59%, respectively, and the average true range (ATR) was 0.74. With the 14-day stochastic at 84.62% and the average true range at 0.77, the RSI (14) stands at 55.70%. The stock has reached 0.16 on the 9-day MACD Oscillator while the 14-day reading was at -0.17.
Analyst Ratings
HSBC Securities launched coverage on Palantir Technologies Inc (NYSE: PLTR) in its analyst report released on September 15, 2023. The firm assigned the stock a Hold rating. The consensus rating for Palantir Technologies Inc (PLTR) among analysts is Hold. According to current brokerage recommendations, 6 brokerage firms advise that investors sell PLTR, while 8 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 2 others rate it as a “buy”.
What is PLTR’s price target for the next 12 months?
Analysts predict a range of price targets between $5.00 and $25.00, with a median target of $15.40. Taking a look at these predictions, the average price target given by analysts for Palantir Technologies Inc (PLTR) stock is $14.43.
