The trading price of Palantir Technologies Inc (NYSE:PLTR) closed higher on Monday, October 28, and closing at $44.97, 0.25% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $44.68 and $45.1366. The company’s P/E ratio in the trailing 12-month period was 264.69, while its 5Y monthly beta was 2.72. In examining the 52-week price action we see that the stock hit a 52-week high of $45.07 and a 52-week low of $14.48. Over the past month, the stock has gained 22.07% in value.
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Palantir Technologies Inc, whose market valuation is $100.71 billion at the time of this writing, is expected to release its quarterly earnings report in November. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by 0.09 per share this quarter, however they have predicted annual earnings per share of 0.36 for current year and 0.43 for next year.
Analysts have forecast the company to bring in revenue of 701.13M for the current quarter, with the likely lows of 678M and highs of 724.1M. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue is 2.76B.
On the technical side, indicators suggest PLTR has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned PLTR a recommendation rating is 14. Out of them, 5 rate it a Hold, while 6 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Palantir Technologies Inc (PLTR) as Underweight, while 3 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 10.79, which symbolizes a positive outlook. A quick review shows that PLTR’s price is currently 7.32% off the SMA20 and 21.13% off the SMA50. The RSI metric on the 14-day chart is currently showing 74.49, and weekly volatility stands at 2.70%. When measured over the past 30 days, the indicator reaches 3.64%. Palantir Technologies Inc (NYSE:PLTR)’s beta value is currently sitting at 2.71, while the Average True Range indicator is currently displaying 1.38. With analysts defining $4.5-$50 as the low and high price targets, we arrive at a consensus price target of $20.5 for the trailing 12-month period. The current price is about 89.99% off the estimated low and -11.19% off the forecast high, based on this estimate. Investors will be thrilled if PLTR’s share price rises to $20.5, which is the median consensus price. At that level, PLTR’s share price would be 54.41% above current price.
To see how Palantir Technologies Inc stock has been performing in comparison to its peers in the industry, here are the numbers: PLTR stock’s performance was 0.25% in the latest trading, and 194.11% in the past year. Palantir Technologies Inc has a P/E ratio of 264.69.
An evaluation of the daily trading volume of Palantir Technologies Inc (NYSE:PLTR) indicates that the 3-month average is 59.15 million. However, this figure has increased over the past 10 days to an average of 39.08.
Currently, records show that 2.10 billion of the company’s shares remain outstanding. The insiders hold 10.08% of outstanding shares, whereas institutions hold 42.92%. The stats also highlight that short interest as of 2024-10-15, stood at 95.59 million shares, resulting in a short ratio of 1.26 at that time. From this, we can conclude that short interest is 480.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 67.11 million. However, since the stock’s price has seen 161.91% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
