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Palantir Technologies (PLTR) Shows Promise for Short-Term Gains Amid Positive Analyst Consensus

StockInvest.us, 2 months ago

Palantir Fundamental Analysis

The company under consideration is Palantir Technologies Inc. (PLTR), listed on the New York Stock Exchange. The market cap of Palantir Technologies at close on September 27, 2023, stood at $31.95 billion. The company had approximately 2.15 billion shares outstanding, reflecting a large investor base. The Earnings Per Share (EPS) for the company was -$0.02, indicating the company underwent a slight loss in the given period. Consequently, a negative Price to Earnings ratio (-742.5) is registered.

In regard to recent news, a breaking announcement that Palantir won a $250 million services contract with the U.S. Army has positively affected the company's prospects. Following the contract award, substantial upward movement in Palantir's share price was observed on the same day.

From an analyst consensus perspective, the stock was rated a "Buy," with seven analysts recommending "Buy," one suggesting "Hold," while three were of the opinion to "Sell." The estimated target price ranged between $4.50 and $25, with a consensus estimate at $11 and the median at $9.50.

The company's next earnings announcement is scheduled for November 6, 2023. It would significantly impact the near-term movements in the stock price.

Technical Analysis

At a closing price of $14.85 on September 27, 2023, Palantir Technologies recorded a change of 6.38% (or $0.89). The stock price ranged from a low of $14.16 and a high of $14.96 during the trading session.

Palantir The trading volume of 59.75 million was slightly below the average trading volume of 60.52 million. The Relative Strength Index (RSI14) was 46, indicating neutral momentum in the price movement.

The 50-day and 200-day moving averages stood at $15.90 and $11.27 respectively. The moving averages indicate that the stock is experiencing a slight short-term downward trend, but an overall upward-long-term trend.

The Moving Average Convergence Divergence (MACD) for the three months period stood at 0.130, a positive figure indicating upward momentum in the stock price.

The support for the stock price was identified at $14.15, and resistance at $15.25. The Average True Range (ATR) was 5.01 reflecting moderately high volatility.

Stock Price Prediction

Considering the fundamentals, recent news developments, and technical indicators, it can be expected that the stock may continue its upward momentum on the next trading day. The announcement of the recent defense contract win would likely further bolster investor confidence, aiding in sustaining this momentum in the upcoming week.


Given the strong contract win, positive MACD, and large market cap, coupled with the significant bullish consensus among analysts, the stock can be categorized as a 'Buy.' The stock shows promising potential for short-term gains. The long-term attractiveness of the stock depends on the company's ability to maintain profitability as indicated by future EPS announcements.

Check full Palantir forecast and analysis here.