Palantir Technologies Inc. (NYSE:PLTR) shares are down on Wednesday, reflecting a broader trend as technology stocks are generally lower today, with the Technology sector declining 2.01%. The market is experiencing a sell-off, with the S&P 500 down 0.99%, which is contributing to the decline in Palantir’s stock price.
Earnings On The Horizon
Investors are looking ahead to earnings season, which is just getting started. Several big tech companies are set to report earnings later this month and Palantir on Monday scheduled its fourth-quarter financial results for after the market close on Feb. 2.
- EPS Estimate: $0.21 (Up from $0.14 YoY)
- Revenue Estimate: $1.34 billion (Up from $827.52 million YoY)
- Valuation: P/E of 415.6x (Indicates premium valuation)
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $194.53. Recent analyst moves include:
- Citigroup: Upgraded to Buy (Raised Target to $235.00)
- Truist Securities: Initiated with Buy (Target $223.00)
- DA Davidson: Neutral (Raised Target to $215.00)
Valuation Insight: While the stock trades at a premium P/E multiple, the consensus and 50% expected earnings growth suggest analysts view this growth as justification for the 11% upside to analyst targets.
PLTR Remains Below Key Short-Term Levels
Palantir is currently trading 4.2% below its 20-day simple moving average (SMA) and 0.9% below its 100-day SMA, indicating short-term weakness while remaining 13.6% above its 200-day SMA, which reflects a longer-term uptrend. Over the past 12 months, shares have increased 165.61%, and the stock is currently positioned closer to its 52-week highs than lows.
The RSI is at 48.25, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, MACD is below its signal line, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum.
- Key Resistance: $187.50
- Key Support: $148.00
Benzinga Edge Ranking
Below is the Benzinga Edge scorecard for Palantir, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 94.8/100) — Stock is outperforming the broader market.
- Growth: Strong (Score: 92.17/100) — Indicates solid growth potential.
- Value: Risk (Score: 1.17/100) — Trading at a steep premium relative to peers.
The Verdict: Palantir’s Benzinga Edge signal reveals a classic ‘High-Flyer’ setup. While the Momentum (94.8) and Growth (92.17) scores confirm strong trends, the extremely low Value (1.17) score warns that the stock is priced for perfection—investors should ride the trend but use tight stop-losses.
Palantir Stock Slides
PLTR Price Action: Palantir Technologies shares were down 1.69% at $175.92 at the time of publication on Wednesday, according to Benzinga Pro data.
Image: Shutterstock
