Palantir Technologies (NYSE:PLTR) Posts Earnings Results, Misses Expectations By $0.02 EPS

Palantir Technologies (NYSE:PLTR – Get Rating) announced its quarterly earnings data on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02), MarketWatch Earnings reports. Palantir Technologies had a negative net margin of 33.75% and a positive return on equity of 14.65%. The business had revenue of $446.36 million during the quarter, compared to analysts’ expectations of $443.51 million. During the same period last year, the company posted $0.04 EPS. Palantir Technologies’s revenue for the quarter was up 30.8% on a year-over-year basis. Palantir Technologies updated its Q2 2022 guidance to EPS.

Shares of NYSE PLTR traded down $2.08 during trading on Monday, reaching $7.40. 4,318,859 shares of the company traded hands, compared to its average volume of 48,816,137. The firm has a 50 day simple moving average of $12.16 and a 200-day simple moving average of $16.01. The stock has a market capitalization of $15.02 billion, a PE ratio of -27.26 and a beta of 5.00. Palantir Technologies has a 52-week low of $9.42 and a 52-week high of $29.29.

In related news, insider Shyam Sankar sold 194,817 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $10.62, for a total value of $2,068,956.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexander D. Moore sold 36,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $12.02, for a total transaction of $438,730.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 347,256 shares of company stock worth $3,900,073. Insiders own 17.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. lifted its holdings in Palantir Technologies by 10.6% during the fourth quarter. Salem Investment Counselors Inc. now owns 10,443 shares of the company’s stock valued at $190,000 after purchasing an additional 1,005 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Palantir Technologies by 1.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 110,467 shares of the company’s stock valued at $2,012,000 after purchasing an additional 1,506 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Palantir Technologies by 2.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 56,504 shares of the company’s stock valued at $1,029,000 after buying an additional 1,508 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Palantir Technologies by 6.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 46,917 shares of the company’s stock valued at $855,000 after buying an additional 2,865 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC raised its position in shares of Palantir Technologies by 5.6% during the fourth quarter. Strategic Wealth Advisors Group LLC now owns 71,752 shares of the company’s stock valued at $1,330,000 after buying an additional 3,833 shares during the last quarter. 40.02% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Palantir Technologies from $13.00 to $10.00 and set a “sell” rating for the company in a research note on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Palantir Technologies from $18.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, February 18th. Monness Crespi & Hardt assumed coverage on shares of Palantir Technologies in a research report on Monday, April 11th. They set a “buy” rating and a $20.00 price target for the company. Morgan Stanley raised shares of Palantir Technologies from an “underweight” rating to an “equal weight” rating and dropped their price target for the company from $24.00 to $16.00 in a research report on Monday, March 7th. Finally, Wolfe Research reaffirmed a “hold” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Friday, February 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.50.

Palantir Technologies Company Profile (Get Rating)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

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