Q3 2022 EPS Estimates for Palantir Technologies Inc. (NYSE:PLTR) Cut by Analyst

Q3 2022 EPS Estimates for Palantir Technologies Inc.  (NYSE:PLTR) Cut by Analyst

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Palantir Technologies Inc. (NYSE:PLTR – Get Rating) – Equities research analysts at Jefferies Financial Group decreased their Q3 2022 earnings per share estimates for shares of Palantir Technologies in a note issued to investors on Tuesday, November 1st. Jefferies Financial Group analyst B. Thill now expects that the company will post earnings of ($0.04) per share for the quarter, down from their previous estimate of ($0.03). The consensus estimate for Palantir Technologies’ current full-year earnings is ($0.16) per share. Jefferies Financial Group also issued estimates for Palantir Technologies’ FY2022 earnings at ($0.16) EPS.

Palantir Technologies (NYSE:PLTR – Get Rating) last announced its earnings results on Monday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). Palantir Technologies had a negative net margin of 30.90% and a positive return on equity of 0.06%. The business had revenue of $473.00 million for the quarter, compared to analyst estimates of $471.72 million. During the same period in the prior year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis.

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A number of other research analysts have also weighed in on PLTR. Raymond James started coverage on Palantir Technologies in a report on Thursday, July 21st. They issued a “strong-buy” rating and a $20.00 price objective on the stock. Monness Crespi & Hardt lowered Palantir Technologies from a “buy” rating to a “neutral” rating in a report on Friday, July 22nd. Citigroup cut their price objective on Palantir Technologies from $7.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, August 9th. Credit Suisse Group cut their price objective on Palantir Technologies to $11.00 in a report on Monday, August 15th. Finally, Morgan Stanley lowered their target price on Palantir Technologies from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 20th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.75.

Palantir Technologies Price Performance

Shares of NYSE:PLTR opened at $8.08 on Thursday. The business’s 50-day moving average is $7.96 and its 200 day moving average is $8.91. Palantir Technologies has a 1 year low of $6.44 and a 1 year high of $27.11. The firm has a market capitalization of $16.68 billion, a P/E ratio of -29.92 and a beta of 3.10.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Capital Group LLC boosted its position in shares of Palantir Technologies by 81.2% during the second quarter. Private Capital Group LLC now owns 2,907 shares of the company’s stock worth $26,000 after buying an additional 1,303 shares during the period. IndexIQ Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter worth $27,000. CX Institutional purchased a new position in shares of Palantir Technologies during the second quarter worth $29,000. Herold Advisors Inc. purchased a new position in shares of Palantir Technologies during the first quarter worth $35,000. Finally, TCI Wealth Advisors Inc. boosted its position in shares of Palantir Technologies by 41.5% during the second quarter. TCI Wealth Advisors Inc. now owns 3,990 shares of the company’s stock worth $36,000 after buying an additional 1,170 shares during the period. Institutional investors and hedge funds own 30.80% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In related news, insider David A. Glazer sold 37,387 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $8.14, for a total value of $304,330.18. Following the completion of the sale, the insider now owns 1,874,097 shares of the company’s stock, valued at $15,255,149.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider David A. Glazer sold 37,387 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $8.14, for a total value of $304,330.18. Following the completion of the sale, the insider now owns 1,874,097 shares of the company’s stock, valued at $15,255,149.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David A. Glazer sold 26,171 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $8.23, for a total value of $215,387.33. Following the completion of the sale, the insider now directly owns 1,815,808 shares of the company’s stock, valued at approximately $14,944,099.84. The disclosure for this sale can be found here. Insiders own 13.22% of the company’s stock.

About Palantir Technologies

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify hidden patterns deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real- world responses to threats that have been identified within the platform.

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Earnings History and Estimates for Palantir Technologies (NYSE:PLTR)

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