Does Palantir Technologies Inc (PLTR) offer a good opportunity for investors?

With 148.51 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.2 shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $25.11 whereas the lowest price it dropped to was $23.57. The 52-week range on PLTR shows that it touched its highest point at $25.06 and its lowest point at $7.19 during that stretch. It currently has a 1-year price target of $18.79. Beta for the stock currently stands at 2.74.

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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 43.24%, but this was up by 45.21% over a month. Three-month performance surged to 31.86% while six-month performance rose 58.21%. The stock gained 196.59% in the past year, while it has gained 41.99% so far this year. A look at the trailing 12-month EPS for PLTR yields 0.09 with Next year EPS estimates of 0.40. For the next quarter, that number is 0.08. This implies an EPS growth rate of 32.20% for this year and 19.75% for next year.

Float and Shares Shorts:

At present, 2.00 billion PLTR shares are outstanding with a float of 1.83 billion shares on hand for trading. On Jan 31, 2024, short shares totaled 114.72 million, which was 5.27% higher than short shares on Dec 29, 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 40.24% of PLTR’s outstanding shares, institutional investors have minority control over the company.

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 $30.00 and a low target of $5.00, the average target price over the next 12 months is $18.79. Based on these targets, PLTR could surge 23.05% to reach the target high and fall by -79.49% to reach the target low. Reaching the average price target will result in a decline of -22.93% from current levels.

Summary of Insider Activity:

Insiders traded PLTR stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 3,330,804 shares were bought while 9,000 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 86 over the past year. The total number of shares bought during that period was 10,260,459 while 9,508,273 shares were sold.