Palantir Technologies Inc.: Monthly Stock Overview
Published: September 22, 2024
Company Overview
Palantir Technologies Inc., headquartered in Denver, Colorado, is a prominent software company focused on delivering advanced software platforms primarily for the intelligence community. Its flagship products, Palantir Gotham and Palantir Foundry, play crucial roles in counterterrorism efforts and data operations across various sectors. Additionally, the company provides Palantir Apollo, streamlining software delivery, and the Palantir Artificial Intelligence Platform (AIP), which turns complex data into actionable insights using large language models. Founded in 2003, Palantir operates in the Technology sector, specifically within the Software – Infrastructure industry, and has reported total revenue of approximately $2.48 billion.
Investment Outlook
As of now, Palantir’s stock price is $37.20, showing strong market interest with the potential to reach a high target price of $50.00. This presents an upside opportunity for investors, although analysts currently recommend a “hold” position due to concerns around future market conditions. With 2,142,320,000 shares outstanding and a short interest of 2.71%, investor sentiment appears cautious. Analysts set a target mean price at $26.94, indicating mixed expectations regarding the company’s market position. The average recommendation rating from 16 analysts is 2.9, highlighting a balanced outlook reflecting the potential for growth while advising against aggressive buying or selling strategies.
Market Performance Insights
Analyzing Palantir’s market performance reveals its stock demonstrates significant volatility, experiencing a fifty-two week high of $37.35 alongside a low of $13.82. Currently trading well above its fifty-day moving average of $30.50, the stock exhibits an upward trend, signaling bullish sentiment among investors. With total revenue reported at $2,478,981,120, Palantir’s operational scale supports its growth potential, albeit lacking current EBITDA data to fully evaluate profitability. As investors navigate the complexities of the tech market, Palantir remains a noteworthy asset to watch, poised for possible gains amid fluctuating analyst expectations.
| Metric | Value |
|---|---|
| Market Cap | $83.3b |
| Total Debt | $258.5m |
| Total Cash | $4.0b |
| Shares Outstanding | 2.1b |
| Float Shares | 2.0b |
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