Palantir Technologies (PLTR) stock is pretty much in a sober situation given the circumstances around the company. The company has been doing well as it moves on but nothing significant. Palantir (PLTR) stock price also did not witness a notable performance and continuously moved sideways for quite some time.
Consistent Performance of Palantir Stock
Currently Palantir stock price is at 8.08 USD with a slight drop of 1.58% from yesterday. The trading price remained within the range of 7.53 USD to 8.79 USD with several ups and downs but overall declined approx 4.5% in a month. For the last 6 months, PLTR stock price has been through a rough journey with over 26% downfall.
In a year’s time frame, Palantir stock price dropped consistently from 26.47 USD in November last year and dropped an overall decline up to 70%.
With the upcoming earnings release of Palantir Technologies on 7th November 2022, investors are expecting the stock price to show an uptrend. Analysts’ predictions may contradict the investors’ hopes though.
TradingView analysts forecasted a price target for PLTR stock at average 10.32 USD—with minimum 6 USD to maximum 20 USD—in a year. Overall stock rating is “neutral”.
Zacks Equity Research expects Q3 2022 EPS for PLTR stock 0.02 USD—which is almost half year-over-year. Meanwhile the quarterly revenue is estimated to stay around 474.58 USD, with an increase of over 21% from the last year. Earnings for the quarter is forecasted 0.05 USD per share and the revenue is 1.9 billion USD.
Headquartered in Denver, Colorado, Palantir Technologies is a prominent company within software space. PayPal co-founder and venture capitalist Peter Theil was among the founders and current CEO of the big data specialized company.
The company has mainly two specific sectors: commercial and government. It also makes investments in “marketable securities” like equity securities in public companies. For the government sector, it works with prominent agencies under the United States government as well as other governments.
Major Instances Likely to Impact Palantir Stock
In the last week of October 2022, prominent investor law firm Grant & Eisenhofer filed a lawsuit against Palantiar on the behalf of Allegheny County Employees’ Retirement System—a pension fund. The allegations are majorly about the investment strategies like negative impact of marketable securities on EPS, growth and revenues from government sector is said over–exaggerated, etc.
Meanwhile on 1st November 2022, CEO of HD Hyundai, Chung Ki-sun was reported to meet Palantir Chairman Peter Theil. The meeting of executives at Seoul was majorly intended to discuss the expansion plan. It included HHI Group and Palantir’s business development joint venture. The discussion also revolved around digital transformation.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/11/04/palantir-stock-likely-to-remain-neutral-analysts-predicts/