Palantir Technologies Inc (NYSE:PLTR) price on Wednesday, October 23, fall -0.82% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $42.59.
A look at the stock’s price movement, the close in the last trading session was $42.94, moving within a range at $42.055 and $43.68. The beta value (5-Year monthly) was 2.72 while the PE ratio in trailing twelve months stood at 250.68. Turning to its 52-week performance, $44.39 and $14.48 were the 52-week high and 52-week low respectively. Overall, PLTR moved 15.42% over the past month.
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Palantir Technologies Inc’s market cap currently stands at around $95.38 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 701.13M for the company’s revenue for the quarter, with a low and high estimate of 678M and 724.1M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.76B, representing a 24.00% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PLTR is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
14 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 6 recommend PLTR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 3 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 10.22, with PLTR’s current price about 4.41% and 17.19% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.68, while 7-day volatility ratio is 2.97% and 3.64% in the 30-day chart. Further, Palantir Technologies Inc (PLTR) has a beta value of 2.72, and an average true range (ATR) of 1.47. Analysts have given the company’s stock an average 52-week price target of $20.5, forecast between a low of $4.5 and high of $50. Looking at the price targets, the low is 89.43% off current price level while to achieve the yearly target high, price needs to move -17.4%. Nonetheless, investors will most likely welcome a 51.87% jump to $20.5 which is the analysts’ median price.
If we refocus on Palantir Technologies Inc (NYSE:PLTR), historical trading data shows that trading volumes averaged 43.92 over the past 10 days and 59.24 million over the past 3 months. The company’s latest data on shares outstanding shows there are 2.10 billion shares.
The 10.08% of Palantir Technologies Inc’s shares are in the hands of company insiders while institutional holders own 42.80% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 97.63 million on 2024-09-30, giving us a short ratio of 1.25. The data shows that as of 2024-09-30 short interest in Palantir Technologies Inc (PLTR) stood at 490.00002 of shares outstanding, with shares short rising to 54.06 million registered in 2024-08-30. Current price change has pushed the stock 148.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PLTR stock continues to rise going into the next quarter.
