HSBC Securities slashes price target on Palantir Technologies Inc [PLTR] – find out why.

Palantir Technologies Inc [NYSE: PLTR] slipped around -0.62 points on Friday, while shares priced at $22.97 at the close of the session, down -2.63%. The company report on February 14, 2024 at 6:59 AM that Palantir Wins Dresner Advisory Services 2023 Technology Innovation Award in Multiple Categories.

Palantir Technologies Inc. (NYSE: PLTR), a leading provider of AI systems, today announced it has been recognized as a winner in eight categories, for which the company’s decision intelligence platform was evaluated for the Dresner Advisory Services 2023 Technology Innovation Awards.

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Compared to the average trading volume of 69.31M shares, PLTR reached a trading volume of 48588727 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $18.79 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 3.21. 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.

HSBC Securities have made an estimate for Palantir Technologies Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 14, 2024. While these analysts kept the previous recommendation, Jefferies raised their target price from $13 to $22. The new note on the price target was released on February 06, 2024, representing the official price target for Palantir Technologies Inc stock. Previously, the target price had yet another raise from $10 to $20, while Citigroup kept a Neutral rating on PLTR stock. On January 05, 2024, analysts decreased their price target for PLTR shares from 18 to 13.

The Average True Range (ATR) for Palantir Technologies Inc is set at 1.29, with the Price to Sales ratio for PLTR stock in the period of the last 12 months amounting to 22.86. The Price to Book ratio for the last quarter was 14.54, with the Price to Cash per share for the same quarter was set at 1.66. Price to Free Cash Flow for PLTR in the course of the last twelve months was 72.96 with Quick ratio for the last quarter at 5.55.

How has PLTR stock performed recently?

Palantir Technologies Inc [PLTR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.60. With this latest performance, PLTR shares gained by 37.13% in over the last four-week period, additionally plugging by 50.13% over the last 6 months – not to mention a rise of 174.76% 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 58.69, with the RSI for the last a single of trading hit 54.98, and the three-weeks RSI is set at 59.58 for Palantir Technologies Inc [PLTR]. The present Moving Average for the last 50 days of trading for this stock 18.79, while it was recorded at 23.43 for the last single week of trading, and 16.69 for the last 200 days.

Palantir Technologies Inc [PLTR]: Deeper insight into the fundamentals

Palantir Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.55 and a Current Ratio set at 5.55.

Earnings analysis for Palantir Technologies Inc [PLTR]

With the latest financial reports released by the company, Palantir Technologies Inc posted 0.05/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 25.00%. 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.

Insider trade positions for Palantir Technologies Inc [PLTR]

The top three institutional holders of PLTR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PLTR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PLTR stock with ownership which is approximately 5.8325%.