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Wednesday, February 1, 2023

Palantir Technologies Inc. (NYSE: PLTR): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Palantir Technologies Inc. (PLTR) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.03, or 0.47%, to $6.35. The Palantir Technologies Inc. has recorded 1,099,760 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that MSP Recovery, Now Doing Business as LifeWallet, Entered into a Term Sheet for the Monetization of a Portion of Its Company-owned Assignor Interests as a New Source of Monetization for $275 Million, and Payment of $48 Million in Servicing Fees for 2023.

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Stocks Info

PLTR belongs to the Technology sector of the NYSE while operating in the Software – Infrastructure industry. At the end of the last regular session, the stock closed at $6.32 and fluctuated between $6.49 as its day high and $6.25 as its day low. The current market capitalization of Palantir Technologies Inc. is $13.11B. A total of 34.06 million shares were traded on the day, compared to an average of 33.26M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, PLTR has seen 7 BUY and 17 SELL insider trades, representing the acquisition of 1,345,930 and the disposition of 1,696,340 shares. Over the last 12 months, there were 29 BUYs and 72 SELLs from insiders. Insiders purchased 3,599,570 shares during that period but sold 5,377,567.

In the most recent transaction, Stat Lauren Elaina Friedman sold 7,000 shares of PLTR for 6.38 per share on Jan 03. After the transaction, the Director now owns 213,830 company shares. In a previous transaction on Dec 07, Karp Alexander C. sold 809,398 shares at 7.13 per share. PLTR shares that insider owns now total 6,432,258.

Among the insiders who sold shares, Karp Alexander C. disposed of 809,398 shares on Dec 06 at a per-share price of $7.00. This resulted in the insider holding 6,432,258 shares of PLTR after the transaction. In another insider transaction, Sankar Shyam sold 50,000 shares at $7.24 per share on Nov 25. Company shares held by the insider now total 1,855,012.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for PLTR in the last 3 months, the mean price target is $8.65 with high estimates of $15.00 and low estimates of $4.50. In terms of 52-week highs and lows, PLTR has a high of $18.57 and a low of $5.92.

As of this writing, PLTR has an earnings estimate of $0.02 per share for the current quarter. EPS was calculated based on a consensus of 11 estimates, with a high estimate of $0.03 per share and a lower estimate of -$0.03. The company reported an EPS of $0.02 in the last quarter, which was -50.00% lower than expectations of $0.04.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 16 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for PLTR is Underweight with a score of 2.80. A total of 3 analysts rated the stock as Buy while 1 rated it as Overweight while 7 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 5 thought it should be Sold.

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