Palantir Q3 Earnings On Deck As Cathie Wood Cuts Stake (UPDATED)

Surbhi Jain

November 05, 2024

Editor's Note: This article has been updated to eliminate duplicate content.

Palantir Technologies Inc (NYSE:PLTR) is set to announce its third-quarter earnings on Monday. Wall Street anticipates the data analytics company will report earnings per share of 9 cents and revenue of $701.13 million, with the results expected to be released after market hours.

Cathie Wood has reduced her stake in Palantir, with Ark Invest selling 227,699 shares valued at $9.46 million just days before the company's third quarter earnings report.

Ark Invest's regulatory filings, based on trades made on Friday, Nov.1, reveal continued slimming in its stakes in both Palantir and Tesla, fueling speculation about Wood's cautious outlook on growth stocks.

Palantir stock is up 126.11% over the past year, 152.83% YTD.

Let’s look at what the charts indicate for Palantir stock and how the stock currently maps against Wall Street estimates.

Read Also: Cathie Wood Bets Big On Mark Zuckerberg: Ark Pours $19M Into Meta Shares, Dumps Palantir And Tesla Stock

Palantir Stock Bearish Short Term Ahead Of Q3 Earnings

Palantir stock is experiencing a moderately bearish trend with slight selling pressure as it trades at $41.92.

Chart created using Benzinga Pro

The short-term technical indicators flash caution: Palantir stock is trading below its eight-day Simple Moving Average (SMA) of $43.43 and its 20-day SMA of $43.00, both signaling a bearish sentiment.

However, the stock shows resilience over longer timeframes, as its 50-day SMA at $38.18 and 200-day SMA at $27.60 place Palantir stock in bullish territory.

The Moving Average Convergence Divergence (MACD) indicator of 1.26 also leans bullish, while the Relative Strength Index (RSI) at 53.06 suggests the stock is currently neither overbought nor oversold.

Although Palantir stock faces short-term selling pressure, its long-term indicators hint at potential upside momentum.

Analyst Sentiment Stays Neutral On Palantir Stock

Ratings & Consensus Estimates: The consensus analyst rating on Palantir stock stands at Neutral with a price target of $23.81. The latest analyst ratings from Mizuho, Wedbush, and BofA Securities suggest an average price target of $41.67 for Palantir stock, indicating a modest upside of 0.64%.

As Palantir prepares to release its third-quarter numbers, investors are left weighing Wood's latest strategic shift against Wall Street's cautious optimism.

PLTR Price Action: Palantir stock closed Friday’s trading day at $41.92, up 0.87%.

Read Next:

Photo: Shutterstock

Recommended

Elon's $25 Trillion Confession - Ad

This Is the Type of Drill Hole That Changes Everything - Ad

Gold Near $4,073. Copper Tight. This Drill Hit Came Just in Time. - Ad

The is monitoring millions of American drivers nationwide in a secretive program to identify and detain people whose travel patterns it deems suspicious, .

Border Patrol is monitoring US drivers and detaining those with 'suspicious' travel patterns

The is monitoring millions of American drivers nationwide in a secretive program to identify and detain people whose travel patterns it deems suspicious, The Associated Press has found.

Metals... Not Missles... Is the New Arms Race

Metals... Not Missles... Is the New Arms Race - Ad

China and Russia control 70% of the world's critical minerals, giving them leverage over the West. One N. American discovery could help shift that balance by developing the metals essential for defense systems.

Nvidia, Palo Alto, Coreweave, Broadcom And AMD: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks advanced on Wednesday as Nvidia's results reignited enthusiasm for AI plays. The Nasdaq climbed 0.59% to 22,564.22.

Average US long-term mortgage rate ticks up to 6.22% after four straight weekly declines

The average rate on a 30-year U.S. mortgage ticked up for the first time in five weeks after falling to its lowest level in more than a year last week.

From Strong to Stunning: New Drill Hole Sets a New Bar

From Strong to Stunning: New Drill Hole Sets a New Bar - Ad

Earlier holes showed 2.4% and 2.7% CuEq. This new hit just delivered 6.93% over nearly 20 metres. That's a game-changer - and it comes with deep insider alignment and an active program.

Peter Thiel Once Explained Why Bitcoin Won't Go Up 'Dramatically' And How It's Set For A 'Volatile, Bumpy Ride' Thanks To BlackRock

Bitcoin's ongoing struggles have brought renewed attention to comments made last year by Palantir Technologies co-founder Peter Thiel, who predicted that the leading cryptocurrency was unlikely to see a dramatic surge

Schwab: Half Of US Investors May Ditch Other Assets For ETFs — 4 Funds To Watch

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

Dan Ives Says It Was The 'Most Bullish' Call, El Erian Calls Chipmaker's Earnings A 'Macro Event': Analysts Explode With Optimism On Nvidia

Leading analysts are beaming with optimism on NVIDIA Corp. (NASDAQ: NVDA) and the broader AI trade, following the company's strong third-quarter performance on Wednesday.

Nvidia CEO Jensen Huang Explains Why the Massive AI Spending Wave Actually Makes Perfect Sense: '... All Of It Justified'

Nvidia CEO Jensen Huang dismissed AI bubble fears, arguing that today's massive spending is justified by a global shift from CPUs to GPU-accelerated computing—even as investors like Peter Thiel and Michael Burry warn of overheating and tech giants ramp up capex to unprecedented levels.

Congress to Feature Trump on $100 Bill?

Congress to Feature Trump on $100 Bill? - Ad

A shocking new plan was just introduced in Washington; to celebrate Trump's new "golden age" by placing him on the $100 bill. In the months ahead, this former Presidential Advisor predicts the government will release a massive multi-trillion-dollar asset which it has held back for more than a century.

Trump tariffs face Supreme Court test in trillion-dollar test of executive power

WASHINGTON (AP) — President power to unilaterally impose far-reaching is coming before the Supreme Court on Wednesday in a pivotal test of executive power with trillion-dollar implications for the global economy.

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit the most.

Pete Hegseth Says War Department Preparing For 'Action' In Nigeria

U.S. Defense Secretary Hegseth agrees with Trump's order to prepare for action in Nigeria to stop the killing of Christians by Islamist militants.

Jensen Huang Explains Why He Loved His Dishwashing Job — Nvidia CEO Pours Cold Water Over Popular Idea Of Finding 'Something You Love'

Nvidia CEO Jensen Huang shares his unconventional view on passion and work, emphasizing the value of commitment and dedication in creating passion.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

UPS cargo plane with 3 aboard explodes on takeoff at Louisville airport, igniting huge fire

LOUISVILLE, Ky. (AP) — A large UPS cargo plane with three people aboard crashed Tuesday while taking off from an airport in Louisville, Kentucky, igniting an explosion and massive fire that left a thick plume of black smoke over the area.

NATO member Romania signs agreement with Germany’s Rheinmetall to build a gunpowder plant

BUCHAREST, Romania (AP) — NATO member Romania signed an agreement Monday with German defense company Rheinmetall to build a gunpowder factory in central Romania, as

America's Defense Future Starts Underground

America's Defense Future Starts Underground - Ad

A N. American metals project just caught the attention of Rio Tinto - a mining giant. With four projects in key regions, this firm is aligned with Washington's push to rebuild the defense-metal supply chain.

Jim Cramer Says He Likes Bitcoin, But Isn't Fond Of The 'Cabal' Trying To Keep BTC Above $90,000

Jim Cramer, market commentator and popular media personality, expressed concerns on Wednesday that a “cabal” is attempting to keep Bitcoin (CRYPTO:

Tempus AI Stock (TEM) Slides 6% Overnight: Here's Why The Stock Is Trending

Tempus AI shares fell 6.02% in after-hours trading Tuesday following its third-quarter earnings report.

Elon's $25 Trillion Confession

Elon's $25 Trillion Confession - Ad

Elon Musk: "Tesla will become a $25 trillion company." That would make Tesla 8x bigger than Apple today. How is that possible? He admits it's all thanks to this one AI breakthrough that will take AI out of our computer screens and manifest a 250x boom here in the real world.

Bill Ackman's Hertz Stake Is Starting To Look Like His Next Chipotle Moment

Bill Ackman's investment in Hertz may be the next Chipotle moment as the rental-car company sees a surprise profit and a 40% stock surge.

OpenAI and Amazon sign $38B deal for AI computing power

SEATTLE (AP) — OpenAI and Amazon have signed a $38 billion deal that enables the ChatGPT maker to run its artificial intelligence systems on Amazon's cloud computing services.

This Is the Type of Drill Hole That Changes Everything

This Is the Type of Drill Hole That Changes Everything - Ad

A 19.5 metre zone returned 6.93% CuEq with a core 6.3 metre interval at 17.91%. The structure is bigger, richer, and more gold-loaded than expected. Drilling is active, and majors are watching.

Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

For the first time since July, Bitcoin (CRYPTO: BTC) fell below $100,000 on Tuesday as the crypto sell-off saw $1.7 billion in liquidations in 24 hours.

Rigetti, D-Wave Stocks Down, ETF Reactions Diverge In Market Shakeup

Quantum ETFs face turbulence as Rigetti and D-Wave stocks plummet.

Gold Near $4,073. Copper Tight. This Drill Hit Came Just in Time.

Gold Near $4,073. Copper Tight. This Drill Hit Came Just in Time. - Ad

Dual exposure to two surging metals, plus 17.91% CuEq over mineable width, and infrastructure on site - this is what juniors dream of. And the market is just starting to notice.

Bitcoin's Bull Run Is Now At The Fed's Mercy: Here's What That Means

Liquidity shifts from the Federal Reserve could determine whether Bitcoin (CRYPTO: BTC) reverses its downtrend or enters a 2019-style correction.

Some Social Security Recipients Won't Have To Wait Until 2026 For COLA Hike

Social Security and SSI recipients will receive a 2.8% cost-of-living adjustment in 2026, with SSI beneficiaries seeing the increase a day earlier due to a federal holiday.

Metals... Not Missles... Is the New Arms Race

Metals... Not Missles... Is the New Arms Race - Ad

Zohran Mamdani Was Crypto Bettors' Overwhelming Favorite For New York City Mayor At 100% Odds — And He Just Won

Zohran Mamdani won the high-stakes New York City mayoral race Tuesday, a victory widely anticipated by cryptocurrency bettors, who had overwhelmingly backed the Democratic Socialist.

McDonald's Q3 Preview: Report Shows Visitor Slump — Can Value Meals, Monopoly Help Guidance?

McDonald's may have seen a drop in visitors during the third quarter, according to a new report. Here's why investors may be more excited about Q4.

From Strong to Stunning: New Drill Hole Sets a New Bar

From Strong to Stunning: New Drill Hole Sets a New Bar - Ad

Earlier holes showed 2.4% and 2.7% CuEq. This new hit just delivered 6.93% over nearly 20 metres. That's a game-changer - and it comes with deep insider alignment and an active program.

Centrus Energy Stock Slides After Q3 Revenues Miss Estimates

Here's a look at the Q3 earnings report from Centrus Energy.

Trump has other tariff options if the Supreme Court strikes down his worldwide import taxes

WASHINGTON (AP) — President Donald Trump has warned that the United States will be rendered “defenseless’’ and possibly “reduced to almost Third World status’’ if Supreme Court strikes down the tariffs he imposed this year on nearly every country on earth.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

Why Is Phio Pharmaceuticals Stock Soaring Today?

Shares of Phio Pharmaceuticals Corp. (NASDAQ: PHIO) are rising Monday after the company provided an update on an ongoing medical trial.

Trending Now