Elon Musk Is Responsible For Palantir Stock Rally, Jim Cramer Says Palantir Technologies NASDAQ:PLTR
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Adjusted operating income will come in at $121 million, excluding stock-based compensation and other costs, for a margin of 11.5%. The NYSE gave a reference price on Tuesday of $7.25 a share, though no stock changed hands at that level. It traded as high as $11.42 on Wednesday before dropping below its opening price. Some current and former employees complained early in the trading session of being unable to access the system to sell their stock. The initial price gives Palantir a market cap of $16.5 billion, based on 1.65 billion shares outstanding, which excludes various restricted stock units (RSUs), options and unvested stock.
Palantir Technologies Company Profile
The game-changer came xor neural network early last year when Palantir introduced its Artificial Intelligence Platform (AIP), which harnesses generative AI to make its systems even more useful to enterprises. By tapping into existing data, AIP can address company-specific issues, providing solutions that might otherwise be missed. One of 2024’s biggest beneficiaries is Palantir Technologies (PLTR 0.47%). The stock is up more than 240% so far this year and up 820% since AI captured the spotlight in early 2023.
- The most recent bearish take comes courtesy of Jefferies analyst Brent Thill, who points to Palantir’s pricey valuation as the problem.
- While the technology is still in its infancy, generative AI is improving by leaps and bounds, with new use cases littering the landscape.
- But in the nearly two decades since its founding, its offerings have become much wider.
- The AI-driven software company has several key qualities that make it positively stand out from other companies in the AI space, including top-quality ones, such as Nvidia.
Performance Overview: PLTR
Cloud software developer Asana also went public via direct listing on Wednesday. In cases like this, I tend to buy a small stake in a company, which forces me to watch the stock, paying particular attention to its future performance. This also gives me the option to add to my position at a more attractive valuation (or not), depending on how the future unfolds. Dollar-cost averaging is also an important strategy, as it allows investors to build a position, buying more shares when the price is down and fewer when the price is higher.
But in the nearly two decades since its fundamental analysis approach founding, its offerings have become much wider. Part of the reason for the wild ride might be that it’s really difficult to discern how this technology is applied. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only.
The challenge for Palantir is convincing investors that it’s more of a high-growth tech company than a low-margin consulting services firm. The company has only 125 customers, spending on average $5.6 million in 2019. The company is allowing existing shareholders to sell up to one-fifth of their holdings now while hanging onto the rest until the lockup period expires after it reports results for the year ending Dec. 31. Palantir said 475.8 million shares will be available for sale on the first day of trading. With a mix of optimism about its AI leadership, caution regarding its valuation, and concerns over rising insider trades, Palantir’s future performance remains under close scrutiny by analysts and investors alike. With shares up 288% year to date, Palantir (PLTR 0.54%) is one of 2024’s best-performing artificial intelligence (AI) stocks, easily beating out hardware giant Nvidia (up 188%).
It was founded in 2003 in Denver, Co by well-known investors Peter Thiel and Stephen Cohen among others. The company’s goal is to augment human intelligence with data-gathering and analytic tools that can change the world for the better. As of 2022, Stephen Cohen, co-founder Alexander Karp, and Peter Thiel were president, CEO, and Chairman respectively. Discover which analysts rank highest on predicting the price target of PLTR.
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Top Analysts: PLTR
It also offers Palantir Foundry, a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place. The company was incorporated in 2003 and is headquartered in Denver, Colorado. Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR.
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Palantir (PLTR) is up over 290% year-to-date, and Paul McCarthy shares optimism for some of the company’s earnings. However, he weighs if Palantir can continue its exponential growth alongside bigger … © 2024 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. Palantir Technologies (PLTR) raised $0 in an initial public offering on Wednesday, September 30th 2020.
Palantir stock hit by major insider trading activity
Palantir was named one of CNBC’s Disruptor 50 companies seven times, most recently ranking No. 34 in 2019. Ives’s bullish perspective reflects his confidence in Palantir’s dominant position within the rapidly expanding AI sector, even as concerns about its valuation and sustainability persist. Despite the bearish sentiment, some analysts maintain an optimistic outlook. Dan Ives of Wedbush has described Palantir as the “Messi of AI” and a leader in the AI revolution. Similarly, Argus Research analyst Joseph Bonner downgraded Palantir to a Hold, citing concerns about its valuation, which he argued is not supported by its fundamentals. The sales were facilitated through the conversion of Class B Common Stock to Class A Common Stock on a 1-for-1 basis, followed by strategic sales in the open market.
Walter & Keenan Wealth Management LLC IN ADV raised its holdings in Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after buying an additional 235 shares during the period. Greater Midwest Financial Group LLC raised its stake in shares of Palantir Technologies by 0.3% in the 3rd quarter.
Price Score
SaaS businesses that produce recurring revenue tend to be attractive. They often sport high profit margins and their revenue streams tend to be more predictable. It provides its software via the cloud through subscriptions of varying lengths. Between Election Day, earnings season, and the October inflation review: investment banking: valuation, leveraged buyouts, and mergers and acquisitions report, investors haven’t been hurting for catalysts. Today the company builds and deploys solutions for its clients based on three primary offerings. These are Palantir Gotham, Palantir Apollo, Palantir Foundry, and Palantir Metropolis.