DA Davidson Weighs in on Palantir Technologies Inc.’s Q1 2023 Earnings (NYSE:PLTR)

Palantir Technologies Inc. (NYSE:PLTR – Get Rating) – Analysts at DA Davidson issued their Q1 2023 EPS estimates for shares of Palantir Technologies in a research report issued to clients and investors on Thursday, March 2nd. DA Davidson analyst G. Luria forecasts that the company will post earnings of $0.00 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $8.00 price target on the stock. The consensus estimate for Palantir Technologies’ current full-year earnings is $0.05 per share. DA Davidson also issued estimates for Palantir Technologies’ FY2023 earnings at $0.05 EPS and FY2024 earnings at $0.11 EPS.

Palantir Technologies (NYSE:PLTR – Get Rating) last posted its quarterly earnings data on Monday, February 13th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $508.62 million during the quarter, compared to analysts’ expectations of $504.84 million. Palantir Technologies had a negative net margin of 19.61% and a negative return on equity of 11.90%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share.

A number of other equities analysts also recently commented on PLTR. Wolfe Research downgraded shares of Palantir Technologies from a “peer perform” rating to an “underperform” rating and set a $4.50 price objective for the company. in a report on Wednesday, December 21st. Raymond James lowered their price target on shares of Palantir Technologies from $20.00 to $15.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 8th. The Goldman Sachs Group lowered their price target on shares of Palantir Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, February 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Palantir Technologies from $7.00 to $6.00 and set a “sell” rating for the company in a report on Monday, January 23rd. Finally, Credit Suisse Group restated a “neutral” rating and set a $11.00 price objective on shares of Palantir Technologies in a report on Wednesday, February 15th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $9.64.

Palantir Technologies Stock Up 4.5 %

Shares of PLTR opened at $8.33 on Monday. The company’s fifty day moving average is $7.55 and its 200-day moving average is $7.66. Palantir Technologies has a 12 month low of $5.84 and a 12 month high of $14.86. The firm has a market cap of $17.33 billion, a price-to-earnings ratio of -43.84, a price-to-earnings-growth ratio of 3.18 and a beta of 2.87.

Institutional Trading of Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Vanguard Group Inc. increased its holdings in Palantir Technologies by 22.4% in the 1st quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after acquiring an additional 28,563,749 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Palantir Technologies by 125.4% during the 2nd quarter. Renaissance Technologies LLC now owns 28,204,147 shares of the company’s stock valued at $255,812,000 after buying an additional 15,689,300 shares in the last quarter. Two Sigma Investments LP grew its holdings in Palantir Technologies by 28,558.7% during the 3rd quarter. Two Sigma Investments LP now owns 13,265,535 shares of the company’s stock valued at $107,849,000 after buying an additional 13,219,247 shares in the last quarter. Hyperion Asset Management Ltd purchased a new position in Palantir Technologies during the 2nd quarter valued at about $57,472,000. Finally, Norges Bank purchased a new position in Palantir Technologies during the 4th quarter valued at about $39,395,000. Institutional investors and hedge funds own 31.90% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander C. Karp sold 809,398 shares of the company’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $7.00, for a total value of $5,665,786.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $45,025,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Alexander C. Karp sold 809,398 shares of the company’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $7.00, for a total value of $5,665,786.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $45,025,806. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $6.38, for a total transaction of $44,660.00. Following the completion of the transaction, the director now owns 213,830 shares in the company, valued at $1,364,235.40. The disclosure for this sale can be found here. Insiders have sold a total of 993,960 shares of company stock worth $7,452,887 over the last ninety days. Insiders own 13.71% of the company’s stock.

About Palantir Technologies

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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.