Palantir Technologies Inc. (PLTR) expanding its growth trajectory ahead

Palantir Technologies Inc. (NYSE: PLTR) stock fell -3.24% on Wednesday to $12.23 against a previous-day closing price of $12.64. With 90.5 million shares changed hands, the volume of the stock remained heavier than its average volume of 45.22 million shares. The 52-week range on PLTR shows that it touched its highest point at $13.42 and its lowest point at $5.84 during that stretch. It currently has a 1-year price target of $8.98.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PLTR was up-trending over the past week, with a rise of 19.32%, but this was up by 58.01% over a month. Three-month performance surged to 49.69% while six-month performance rose 70.10%. The stock gained 52.68% in the past year, while it has gained 90.50% so far this year. A look at the trailing 12-month EPS for PLTR yields -0.12 with Next year EPS estimates of 0.26. For the next quarter, that number is 0.05. This implies an EPS growth rate of 33.10% for this year and 18.06% for next year.

Float and Shares Shorts:

At present, 2.11 billion PLTR shares are outstanding with a float of 1.75 billion shares on hand for trading. On Apr 27, 2023, short shares totaled 123.52 million, which was 5.83% higher than short shares on Mar 30, 2023. In addition to Mr. Peter Andreas Thiel as the firm’s Co-Founder & Chairman, Dr. Alexander C. Karp serves as its Co-Founder, CEO & Director.

Institutional Ownership:

Through their ownership of 34.72% of PLTR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.07% of PLTR, in contrast to 17.62% held by mutual funds. Shares owned by individuals account for 16.31%. As the largest shareholder in PLTR with 8.03% of the stake, The Vanguard Group, Inc. holds 160,411,054 shares worth 160,411,054. A second-largest stockholder of PLTR, BlackRock Fund Advisors, holds 76,290,526 shares, controlling over 3.82% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in PLTR, holding 40,613,757 shares or 2.03% stake. With a 2.64% stake in PLTR, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 52,731,580 shares are owned by the mutual fund manager. The Vanguard Mid Cap Index Fund, which owns about 1.97% of PLTR stock, is the second-largest Mutual Fund holder. It holds 39,375,127 shares valued at 305.16 million. Vanguard Extended Market Index Fu holds 1.23% of the stake in PLTR, owning 24,508,309 shares worth 189.94 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, PLTR reported revenue of $473.01M and operating income of -$41.74M. The EBITDA in the recently reported quarter was -$171.18M and diluted EPS was -$0.09.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PLTR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PLTR analysts setting a high price target of $15.00 and a low target of $5.00, the average target price over the next 12 months is $8.98. Based on these targets, PLTR could surge 22.65% to reach the target high and fall by -59.12% to reach the target low. Reaching the average price target will result in a decline of -26.57% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded PLTR stock several times over the past three months with 0 Buys and 4 Sells. In these transactions, 0 shares were bought while 72,700 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 68 over the past year. The total number of shares bought during that period was 5,038,104 while 6,127,006 shares were sold.

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