Palantir Technologies Inc (PLTR): A Great Stock For Handling Current Market Conditions?

Currently, there are 2.10B common shares owned by the public and among those 2.05B shares have been available to trade.

The company’s stock has a 5-day price change of 9.32% and 113.09% over the past three months. PLTR shares are trading 290.68% year to date (YTD), with the 12-month market performance up to 238.10% higher. It has a 12-month low price of $15.66 and touched a high of $67.88 over the same period. PLTR has an average intraday trading volume of 69.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.16%, 38.93%, and 114.00% respectively.

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Institutional ownership of Palantir Technologies Inc (NASDAQ: PLTR) shares accounts for 48.80% of the company’s 2.10B shares outstanding.

It has a market capitalization of $155.19B and a beta (3y monthly) value of 2.84. The stock’s trailing 12-month PE ratio is 339.65, while the earnings-per-share (ttm) stands at $0.20. The company has a PEG of 12.33 and a Quick Ratio of 5.67 with the debt-to-equity ratio at 0.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.35% over the week and 5.46% over the month.

Earnings per share for the fiscal year are expected to increase by 51.75%, and 23.05% over the next financial year.

Looking at the support for the PLTR, a number of firms have released research notes about the stock. Jefferies stated their Underperform rating for the stock in a research note on November 07, 2024, with the firm’s price target at $28. Raymond James was of a view on September 23, 2024 that the stock is Mkt Perform, while Northland Capital gave the stock Market Perform rating on August 22, 2024, issuing a price target of $35. Monness Crespi & Hardt on their part issued Sell rating on August 06, 2024.

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