Palantir Technologies (NASDAQ:PLTR) Shares Up 7.8% – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 7.8% on Wednesday . The stock traded as high as $128.25 and last traded at $125.73. 57,340,984 shares traded hands during trading, an increase of 21% from the average daily volume of 47,583,445 shares. The stock had previously closed at $116.67.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir unveiled a sovereign-AI partnership with Nvidia to help build custom AI models for U.S. government agencies, a deal that reinforces its position in defense and national-security AI. Why Is Palantir Stock Surging On Wednesday?
• Positive Sentiment: Palantir also expanded its partnership with Surf Air Mobility, adding another commercial growth driver and helping ease concerns that its business is overly dependent on government contracts. Palantir (PLTR), Surf Air Mobility Expand Partnership to Accelerate SurfOS Platform Development
• Positive Sentiment: Multiple analysts and commentators framed the Nvidia tie-up as evidence that Palantir remains an enterprise AI leader with a strong moat, supporting the stock even after its recent pullback. ‘Palantir’s AI Story Is Far From Over,’ Says BofA
• Neutral Sentiment: CEO Alex Karp used recent media appearances to argue that Palantir and Nvidia’s approach better protects customer data than rival AI model providers, which may help the company’s narrative but does not by itself change fundamentals. Palantir’s Karp bashes OpenAI, Anthropic token model: ‘Something has gone completely wrong’
• Neutral Sentiment: Some coverage highlighted valuation concerns and oversold technical conditions, suggesting the move could be partly a rebound from recent weakness rather than a complete change in the longer-term setup. Palantir Is the Most Oversold Tech Stock Now. A Rebound Isn’t a Guarantee.
• Negative Sentiment: Bearish commentary continues to point to Palantir’s premium valuation and volatility, so any rally may face resistance if investors refocus on price versus profits. Wolfe Research Calls Palantir Technologies (PLTR) Enterprise AI Leader Despite Premium Valuation

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PLTR shares. Benchmark cut Palantir Technologies to a “hold” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada reiterated an “underperform” rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. Wolfe Research upgraded shares of Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, June 16th. Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, DA Davidson dropped their price target on shares of Palantir Technologies from $180.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Moderate Buy” and an average price target of $190.46.

Palantir Technologies Stock Performance

The firm has a 50 day simple moving average of $134.82 and a 200 day simple moving average of $149.25. The firm has a market cap of $301.41 billion, a P/E ratio of 141.27, a P/E/G ratio of 1.86 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. Sell-side analysts predict that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the sale, the insider owned 60,226 shares of the company’s stock, valued at $7,757,108.80. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 927,270 shares of company stock valued at $126,197,785 in the last ninety days. 9.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of the stock. Milestone Asset Management LLC lifted its holdings in shares of Palantir Technologies by 229.5% in the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock worth $10,763,000 after buying an additional 42,173 shares during the period. VCI Wealth Management LLC increased its stake in shares of Palantir Technologies by 42.3% during the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock valued at $2,166,000 after buying an additional 3,621 shares during the period. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $222,143,000. Finally, Jefferson Bridge Capital LLC purchased a new stake in Palantir Technologies in the fourth quarter worth about $1,322,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.