why Palantir Technologies Inc. [PLTR] is a Good Choice for Investors After New Price Target of $12.12


Palantir Technologies Inc. [NYSE: PLTR] loss -3.87% on the last trading session, reaching $8.94 price per share at the time. The company report on June 2, 2022 that Palantir Expands Partnership with U.S. Space Systems Command.

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Palantir Technologies Inc. (NYSE:PLTR) announced today that the U.S. Space Systems Command (SSC) Battle Management Command, Control, and Communications (BMC3) awarded Palantir a $53,899,333.40 increase on May 24, 2022, to its 2021 award of $121,500,000.00. This increase brings the total value of the contract to $175,399,333.40 and ensures the continuous delivery of Palantir’s data and decisions platform to support national security objectives through March 2023.

This contract modification continues Palantir’s Data-as-a-Service platform capabilities which allow mission areas within the Air Force, Space Force, and NORAD-NORTHCOM to integrate, clean, share, and leverage data to help make decisions on personnel management, strategic and operational planning, cross-space situational awareness, and collaboration across combatant commands. The extension includes capabilities for decision support tooling for echelon planning and continuity of leadership operations.

Palantir Technologies Inc. represents 2.04 billion in outstanding shares, while the company has a total market value of $19.02 billion with the latest information. PLTR stock price has been found in the range of $8.86 to $9.25.

If compared to the average trading volume of 42.86M shares, PLTR reached a trading volume of 36519686 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Palantir Technologies Inc. [PLTR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PLTR shares is $12.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PLTR stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Palantir Technologies Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 10, 2022. While these analysts kept the previous recommendation, RBC Capital Mkts dropped their target price from $9 to $12. The new note on the price target was released on April 20, 2022, representing the official price target for Palantir Technologies Inc. stock. Previously, the target price had yet another raise to $20, while Monness Crespi & Hardt analysts kept a Buy rating on PLTR stock.

The Average True Range (ATR) for Palantir Technologies Inc. is set at 0.69, with the Price to Sales ratio for PLTR stock in the period of the last 12 months amounting to 11.55. The Price to Book ratio for the last quarter was 7.71, with the Price to Cash per share for the same quarter was set at 1.19. Price to Free Cash Flow for PLTR in the course of the last twelve months was 84.44 with Quick ratio for the last quarter at 4.40.

Trading performance analysis for PLTR stock

Palantir Technologies Inc. [PLTR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.94. With this latest performance, PLTR shares dropped by -18.58% in over the last four-week period, additionally sinking by -54.60% over the last 6 months – not to mention a drop of -62.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PLTR stock in for the last two-week period is set at 48.49, with the RSI for the last a single of trading hit 53.40, and the three-weeks RSI is set at 45.86 for Palantir Technologies Inc. [PLTR]. The present Moving Average for the last 50 days of trading for this stock 10.72, while it was recorded at 8.85 for the last single week of trading, and 17.40 for the last 200 days.

Palantir Technologies Inc. [PLTR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Palantir Technologies Inc. [PLTR] shares currently have an operating margin of -26.66 and a Gross Margin at +77.99. Palantir Technologies Inc.’s Net Margin is presently recorded at -33.75.

Return on Equity for this stock declined to -27.29, with Return on Assets sitting at -17.53.

Palantir Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.40 and a Current Ratio set at 4.40.

Palantir Technologies Inc. [PLTR]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PLTR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Palantir Technologies Inc. go to 35.42%.

An analysis of insider ownership at Palantir Technologies Inc. [PLTR]

There are presently around $5,627 million, or 33.80% of PLTR stock, in the hands of institutional investors. The top three institutional holders of PLTR stocks are: VANGUARD GROUP INC with ownership of 156,003,743, which is approximately 22.413% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 86,955,785 shares of the stock with an approximate value of $777.38 million in PLTR stocks shares; and STATE STREET CORP, currently with $306.54 million in PLTR stock with ownership of nearly 2.751% of the company’s market capitalization.

Positions in Palantir Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 466 institutional holders increased their position in Palantir Technologies Inc. [NYSE:PLTR] by around 108,019,816 shares. Additionally, 340 investors decreased positions by around 171,085,091 shares, while 136 investors held positions by with 350,353,461 shares. The mentioned changes placed institutional holdings at 629,458,368 shares, according to the latest SEC report filing. PLTR stock had 123 new institutional investments in for a total of 38,157,581 shares, while 131 institutional investors sold positions of 62,002,775 shares during the same period.