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

Forget Tesla - This Tiny AI Stock Is Musk's Real Play - Ad

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

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

New York City's incoming mayor, Zohran Mamdani, hasn't taken office yet. But he's already the new avatar of evil for conservative media figures.

Pardoned Binance Founder Changpeng Zhao Slams 'False' Trump Family Link Allegations, Calls Pardon Total Surprise: 'It Just Happened'

CZ denies deal with Trump sons' crypto firm. Pardon was unexpected, not connected to Trump. Pardon defended by WH amid criticism from allies.

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.

This Inexpensive Tesla Rival Is Quietly Gaining Ground — Key Ranking Suggests A Major Breakout Could Be Imminent

Li Auto surges into the top 10th percentile value ranking, up 1.30 points. Undervalued Tesla rival with moderate growth.

Denny's to be acquired and taken private in a deal valued at $620 million

Denny's said Monday that it's being acquired by a group on investors in a deal that will take the breakfast chain private.

Trump's Hidden Fed Agenda

Trump's Hidden Fed Agenda - Ad

Trump's latest moves show he's preparing to reshape the Federal Reserve - and the value of the U.S. dollar. With key appointees already in place, the coming monetary reset could send gold soaring like it did in the 1970s, when it climbed 24X in under a decade.

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

Tanka Bets Its Memory-Native AI Platform Can Redefine How Startups Collaborate and Scale

Tanka, a U.S.-based AI collaboration platform headquatered in Bay Area, is betting on its home market with a bold premise — that the future of enterprise software will depend not on bigger models or flashier chatbots, but on memory.

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.

ON Semiconductor, Williams Companies And 3 Stocks To Watch Heading Into Monday

Key stocks to watch include Williams Companies, Spirit AeroSystems, Goodyear Tire & Rubber, IDEXX Laboratories, and ON Semiconductor

Appeals court pauses California law requiring companies to report climate-related financial risk

SACRAMENTO, Calif. (AP) — A U.S. appeals court on Tuesday paused set to take effect in January requiring large companies to report every two years on how climate change could hurt them financially.

All 4 Major Banks Race to Adopt 'Trump Dollars'

All 4 Major Banks Race to Adopt 'Trump Dollars' - Ad

JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup are all rushing to adopt a new, upgraded version of the U.S. dollar that President Trump authorized this past summer. But acclaimed analyst, Louis Navellier, believes this isn't just a minor upgrade - it's a complete transformation to American money.

Billie Eilish Asks Zuckerbeg, Other Billionaires To Donate

Billie Eilish urges billionaires to share their wealth for good causes during award acceptance speech. Mark Zuckerberg in attendance.

Dubai International Airport sees 70.1 million passengers so far this year as it plans new airport

DUBAI, United Arab Emirates (AP) — Dubai International Airport, the world's busiest for international travel, has seen 70.1 million passengers already pass through its terminals this year, officials announced Wednesday.

"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 before November 18's bombshell.

Trump's White House Bathroom Renovation Sparks Fury, Economist Slams 'Clearly Wrong' Inflation Data And More: This Week In Economy

Week economy roundup: From inflation debates and White House renovations to job declines, stock surges, and Fed rate cuts.

Scott Bessent Calls Elon Musk 'One of The Great Entrepreneurs' of This Generation: Says $1 Trillion Pay Package Is For 'Shareholders To Decide'

U.S. Treasury Secretary Scott Bessent praised his former colleague, Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk, while weighing in on his controversial $1 trillion compensation package.

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.

Trump Withdraws Support For 'Wacky' Marjorie Taylor Greene In Sudden, Fiery Split: 'I Can't Take...'

President Donald Trump said he is withdrawing his endorsement of longtime ally Rep. Marjorie Taylor Greene — here's what happened.

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.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Can Solana Do What Bitcoin Can't? Amplify's New ETF Aims For 36% Income

Amplify ETFs, the issuer known for thematic and income-driven fund products, has just launched the Amplify Solana 3% Monthly Option Income ETF (BATS:SOLM), a first-of-its-kind product combining the growth momentum in Solana (CRYPTO:

Apple Beats Earnings, $1 Billion Google AI Deal, Budget Mac And More: This Week In Appleverse

Apple had a busy week with earnings beats, AI partnerships, new product plans, and reflections on Steve Jobs' legacy.

Forget Tesla - This Tiny AI Stock Is Musk's Real Play

Forget Tesla - This Tiny AI Stock Is Musk's Real Play - Ad

Elon Musk's 750,000 sq ft AI facility in Memphis could be more lucrative than Tesla and SpaceX combined. NVIDIA is quietly investing- And we found a "backdoor" play for everyday investors.

Zohran Mamdani Says No More Thanking Veterans Today, Forgetting Tomorrow — Trump, Obama And Others Express Gratitude For Service

America's top political and tech leaders — including Donald Trump, Barack Obama, Tim Cook, and Sundar Pichai — marked Veterans Day 2025 with tributes honoring the courage and sacrifice of U.S. service members.

Jim Cramer: Chipotle Is 'Too Expensive,' Buy This Plane Maker

On "Mad Money," Cramer discusses Henry Schein, Bloom Energy, Tyler Technologies, Boeing and Chipotle Mexican Grill.

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.

Typhoon Kalmaegi leaves 26 dead in Philippines, people trapped on roofs and cars submerged

MANILA, Philippines (AP) — Typhoon Kalmaegi has left at least 26 people dead in the Philippines, mostly in flooding set off by the storm, which barreled across the central part of the country on Tuesday, disaster response officials said. Floodwaters trapped scores of people on their roofs and submerged cars.

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.

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.

Bill Ackman Cuts Alphabet Stake As Warren Buffett's Berkshire Hathaway Builds Its Own

Bill Ackman's Pershing Square made a few small moves in the third quarter. Here's a look at the trades.

Serbia passes a special bill enabling Trump's son-in-law to build luxury complex despite opposition

BELGRADE, Serbia (AP) — Serbian lawmakers on Friday passed a special law clearing the way for a proposed real estate project that would be financed by an investment company linked to Donald Trump’s son-in-law despite and legal hurdles.

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.

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.

TSLA, PLTR, IREN And More: 5 Stocks That Dominated Investor Buzz This Week

Retail investors talked up five hot stocks this week (Nov. 3–7) on X and Reddit's r/WallStreetBets: TSLA, PLTR, MSTR, AMD, IREN.

Trump's Hidden Fed Agenda

Trump's Hidden Fed Agenda - Ad

Nasdaq Surges Over 100 Points, Records Gains In October: Greed Index Remains In 'Fear' Zone

CNN Money Fear and Greed index remained in Fear zone on Friday. US stocks closed higher, Nasdaq up 4.7% in October. Amazon reported earnings.

Britain's Treasury chief prepares the ground for a tax-hiking budget

LONDON (AP) — U.K. on Tuesday signaled she will raise taxes in her budget this month, arguing that the economy is sicker than the government knew when it took office last year.

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Donald Trump's Popularity Falls As Shutdown Drags On

President Donald Trump's approval rating has continued to drop, with the latest poll showing a significant decline, raising concerns for the Republican Party as the 2026 midterm elections approach.

Trending Now