Palantir stock has a CMP of $14.00 and an intraday loss of 5.02%. The PLTR stock has a float of 1.806 Billion shares and a market cap of $30.126 Billion. The Palantir stock’s current volume is 73.072 million and the last 10 days average volume is 50.66 Million.
The latest quarterly balance sheet of Palantir for the quarter ending June 2023 reported $3.98 Billion in total assets and $945.13 Million in total liabilities.
The latest quarterly report for the period ending June 2023 showed a revenue of $533.32 Million, a net income of $28.13 Million, and a profit margin of 5.27%. The next quarter’s revenue is estimated to be $555.709 Million.
PLTR stock displayed a remarkable performance on year-to-date growth of 112.77% and a modest three-month increase of 2.64%. However, it also experienced a performance decline of -5.15% this month and -10.77% this week.
PLTR Stock Price Technical Analysis in 1-D Timeframe
Palantir Technologies Inc. (NYSE: PLTR) had a strong uptrend from $8 in May 2023 to $20 by August 1st, 2023, supported by a rising trendline. However, the price faced selling pressure after the earnings and broke below the trendline. The PLTR stock is now trading at $14 and may slide further if the bearish sentiment persists.
The PLTR stock could extend its decline if it breaks the $13 support level which may open the door for a drop to $12.
On the other hand, if the PLTR stock bounces back with strong buying momentum, it may reclaim the $16 resistance level which may spark a rally to $17 or higher.
PLTR stock does not offer any amount of dividends to its shareholders and it has never done the same in the past as well. It seems unlikely that PLTR company will pay any dividends in the future either.
This highlights that the shareholders do not get any kind of regular income from the PLTR stock and this might be reducing the attractiveness of the stock for many investors out there in the market.
At the time of publishing, the major EMAs are bearish in Palantir Technologies Inc. stock. MACD shows a bearish cross on the charts with stagnant width in the histogram while the RSI is at 37.
Summary
Palantir Technologies Inc. (NYSE: PLTR) stock fell below the key moving averages and a rising trendline after the earnings. The price is trading at $14 and may drop to $12 if it breaks the $13 support. Alternatively, the price may rally to $17 or higher if it recovers the $16 resistance. The technical indicators are bearish for the PLTR stock.
Technical Levels
Support levels: $13 and $12
Resistance levels: $16 and $17
