Palantir Technologies Inc. (PLTR) shares are trading at lower $10.85.
To add more color to this target, the company’s high over the last year is $11.42 and the low is $8.90 while the S&P 500 is up 7.73%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
PLTR booked profit margins of 0.00%. All told, it is clear that, PLTR needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PLTR has outstanding shares of 1.68B.
PLTR has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 19.64 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.00. Investors should also keep an eye on sector updates as PLTR has historically followed its peers on positive news.
All told, Palantir Technologies Inc. PLTR has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PLTR represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Palantir Technologies Inc. PLTR is now commanding a market cap of 18.24B and a float of 969.28M. PLTR is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PLTR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in PLTR, either long or short, and we have not been compensated for this article.