Palantir Technologies Inc (NYSE:PLTR) shares, rose in value, with the stock price down by -0.97% to the previous day’s close as strong demand from buyers drove the stock to $22.48.
Actively observing the price movement in the last trading, the stock closed the session at $22.70. The value of beta (5-year monthly) was 2.81 whereas the PE ratio was 248.95 over 12-month period. Referring to stock’s 52-week performance, its high was $27.50, and the low was $7.28. On the whole, PLTR has fluctuated by -5.59% over the past month.
With the market capitalization of Palantir Technologies Inc currently standing at about $49.74 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 06, 2024 – May 10, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.08, which is expected to increase to $0.1 for fiscal year $0.33 and then to about $0.4 by fiscal year 2025. Data indicates that the EPS growth is expected to be 32.00% in 2025, while the next year’s EPS growth is forecast to be 21.20%.
Analysts have estimated the company’s revenue for the quarter at $625.33 million, with a low estimate of $613.12 million and a high estimate of $740 million. According to the average forecast, sales growth in current quarter could jump up 19.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.71 billion, representing an increase of 21.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that PLTR’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of PLTR currently trading nearly -7.84% and -1.08% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.33, while the 7-day volatility ratio is showing 4.96% which for the 30-day chart, stands at 4.46%. Furthermore, Palantir Technologies Inc (PLTR)’s beta value is 2.78, and its average true range (ATR) is 1.11.
A comparison of Palantir Technologies Inc (PLTR) with its peers suggests the former has fared considerably weaker in the market. PLTR showed an intraday change of -0.97% in last session, and over the past year, it grew by 168.26%%.
Data on historical trading for Palantir Technologies Inc (NYSE:PLTR) indicates that the trading volumes over the past 10 days have averaged 39.53 million and over the past 3 months, they’ve averaged 71.05 million. According to company’s latest data on outstanding shares, there are 2.10 billion shares outstanding.
Nearly 15.29% of Palantir Technologies Inc’s shares belong to company insiders and institutional investors own 39.38% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 82.72 million shares as on Mar 15, 2024, resulting in a short ratio of 1.14. According to the data, the short interest in Palantir Technologies Inc (PLTR) stood at 3.74% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 102.42 million. The stock has risen by 30.93% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the PLTR stock heading into the next quarter.
