Palantir Technologies (NASDAQ:PLTR) Stock Price Down 1.4% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded down 1.4% during trading on Wednesday . The company traded as low as $128.80 and last traded at $130.21. 29,255,540 shares were traded during mid-day trading, a decline of 39% from the average session volume of 47,858,488 shares. The stock had previously closed at $132.07.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir’s AIPCon and related coverage highlighted continued customer adoption of its AI platform, including new enterprise use cases such as a multi-year AI partnership with McCarthy Building Companies and a platform launch with Kirkland & Ellis. Article Title
• Positive Sentiment: Several analysts remained constructive, including Rosenblatt reiterating a Buy rating and Wedbush keeping an Outperform view, suggesting some Wall Street support despite the pullback. Article Title
• Neutral Sentiment: CEO Alex Karp used media appearances to argue that enterprise customers are frustrated with frontier AI labs and are looking for practical AI systems that control costs and deliver business value, reinforcing Palantir’s enterprise AI pitch. Article Title
• Neutral Sentiment: Coverage of Michael Burry’s short position, plus broader commentary questioning whether Palantir’s valuation is too rich, is adding to debate around the stock’s premium despite strong fundamentals. Article Title
• Negative Sentiment: Investors continue to focus on Palantir’s high valuation, with articles noting the stock has fallen significantly from its highs and may still face a multiple problem even as revenue growth remains strong. Article Title
• Negative Sentiment: Broader AI-sector weakness and competitive headlines, including concern that Anthropic and other labs are advancing quickly, have weighed on sentiment across AI stocks including PLTR. Article Title
• Negative Sentiment: Reuters reported that the UK is reviewing Palantir’s NHS contract amid political pressure, which could create uncertainty around a meaningful government relationship. Article Title

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group increased their target price on Palantir Technologies from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Benchmark assumed coverage on Palantir Technologies in a research note on Wednesday, April 1st. They issued a “hold” rating on the stock. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and reduced their target price for the company from $205.00 to $151.00 in a research note on Friday, May 1st. Daiwa Securities Group raised Palantir Technologies from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, February 10th. Finally, DA Davidson reduced their price objective on Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Price Performance

The company has a market capitalization of $312.15 billion, a P/E ratio of 146.31, a PEG ratio of 2.17 and a beta of 1.53. The company has a 50 day moving average of $140.36 and a 200-day moving average of $154.29.

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

Insider Buying and Selling

In related news, insider Jeffrey Buckley sold 830 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $137.41, for a total value of $114,050.30. Following the sale, the insider directly owned 61,707 shares of the company’s stock, valued at $8,479,158.87. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the sale, the director directly owned 55,022 shares in the company, valued at $8,803,520. The trade was a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 925,789 shares of company stock valued at $126,007,032 over the last ninety days. Corporate insiders own 9.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. Milestone Asset Management LLC grew its position in shares of Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock valued at $10,763,000 after acquiring an additional 42,173 shares during the period. VCI Wealth Management LLC grew its position in shares of Palantir Technologies by 42.3% during the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock valued at $2,166,000 after acquiring an additional 3,621 shares during the period. Public Sector Pension Investment Board grew its position in shares of Palantir Technologies by 135.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company’s stock valued at $98,659,000 after acquiring an additional 310,942 shares during the period. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 0.7% during 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 during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $222,143,000. Hedge funds and other institutional investors 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.