Palantir Technologies Inc [PLTR] stock Downgrade by HSBC Securities analyst, price target now $22

Palantir Technologies Inc [NYSE: PLTR] traded at a low on Friday, posting a -1.27 loss after which it closed the day’ session at $24.18. The company report on March 6, 2024 at 6:59 AM that Palantir to Unveil New Customers at Oversubscribed AIPCon.

Palantir Technologies Inc. (NYSE: PLTR) today announced that more than 60 customers will showcase their work in Palantir’s Artificial Intelligence Platform (AIP) at its upcoming AIPCon, including the unveiling of 20+ new customers & partners. The conference will be live streamed on Thursday, March 7, 2024 on Palantir’s YouTube channel.

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Palantir introduced AIP in mid-2023, and later that year introduced AIP Bootcamps, Palantir’s hands-on-keyboard acceleration program for customers to go from zero to use case in a matter of hours. Since launching, nearly 850 AIP Bootcamps have been completed in the United States and around the world — with concentrations of customers in Detroit, Chicago, New York City, Washington D.C., and more.

The results of the trading session contributed to over 25188028 shares changing hands. Over the past one week, the price volatility of Palantir Technologies Inc stands at 3.47% while the volatility over the past one month is 4.31%.

The market cap for PLTR stock reached $53.50 billion, with 2.10 billion shares outstanding and 1.87 billion shares in the current float. Compared to the average trading volume of 71.34M shares, PLTR reached a trading volume of 25188028 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 $20.29 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 3.20. 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 1.12, with the Price to Sales ratio for PLTR stock in the period of the last 12 months amounting to 24.05. The Price to Book ratio for the last quarter was 15.31, 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 76.76 with Quick ratio for the last quarter at 5.55.

How has PLTR stock performed recently?

Palantir Technologies Inc [PLTR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.94. With this latest performance, PLTR shares gained by 2.50% in over the last four-week period, additionally plugging by 72.71% over the last 6 months – not to mention a rise of 194.52% 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 52.37, with the RSI for the last a single of trading hit 48.52, and the three-weeks RSI is set at 54.69 for Palantir Technologies Inc [PLTR]. The present Moving Average for the last 50 days of trading for this stock 21.76, while it was recorded at 24.21 for the last single week of trading, and 17.93 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%.