How to Buy Palantir Stock
Palantir Technologies Inc
Palantir is a software infrastructure company located in Colorado, United States, which is part of the Technology sector, and is traded under the ticker PLTR on the NYSE exchange.
Palantir stock last closed at $19.71, up 3.3% from the previous day, and has increased 175.28% in one year. It has overperformed other stocks in the Software - Infrastructure industry by 1.43 percentage points. Palantir stock is currently +237.5% from its 52-week low of $5.84, and -9.79% from its 52-week high of $21.85.
At the moment, there are 2.18B PLTR shares outstanding. The market value of PLTR is $42.89B. In the past 24 hours, 53.92M PLTR shares were traded.
How to Buy Palantir Stock
Not sure how to invest in Palantir stock? Here's how.
- Decide where to buy Palantir stock: You need to choose an online brokerage, but don't worry - we've sifted through dozens of stock brokerages and apps to help you decide where to buy Palantir stock.
- Create your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've found.
- Put funds into your brokerage account: Choose your method of payment and add your information.
- Evaluate Palantir stock: The Palantir ticker symbol is PLTR. Is Palantir stock a good investment? Should you buy shares of PLTR? How do PLTR's underlying business fundamentals look? Do top analysts think Palantir is a good buy? Why has PLTR's stock price moved recently? (Hint: Our stock market analysis tools can help you decide if PLTR is a good stock to buy).
- Execute your PLTR purchase: Decide if you will purchase PLTR shares at the current market price or use a limit order to buy PLTR shares at a particular price.
- Keep tabs on your PLTR investment: Create a watchlist to key updates about your investment in Palantir shares.
Step 1: Decide where to buy Palantir stock
You need a brokerage account to access the NYSE market and buy PLTR stock.
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Open eToro AccountStep 2: Create your brokerage account
Now that you've selected the best brokerage, the next step is to fill out some personal details so you can invest in PLTR stock today.
How to Start a New Investment Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Enter your personal data to create a new brokerage account.
- Send your application by hitting the "Create Account" button. Get started with eToro today
Step 3: Put funds into your brokerage account
Now that you've created your account on the best stock investing app, your next step is to transfer the money for your investment:
Watch this video walkthrough if you need help transferring money into your new brokerage account.
Step 4: Evaluate Palantir stock
After you have decided on the best place to buy Palantir stock, it's important to analyze their stock before you invest, so you can understand the risk and opportunity.
Palantir stock data
Palantir Zen Score
WallStreetZen was built to help part-time investors do more in-depth fundamental analysis.
You can see all of the due diligence checks on PLTR's stock page.
Is PLTR stock undervalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge PLTR's true value.
Using relative valuations metrics:
- PLTR may be overvalued based on its P/E ratio of 281.57x, relative to Software - Infrastructure industry P/E ratio of 27.64x
- PLTR could be overvalued based on its P/B ratio of 13.44x, relative to Software - Infrastructure industry P/B ratio of 12.15x
- PLTR could be overvalued based on its PEG ratio of 21.08x
You can do more valuation analysis on PLTR's stock here.
A look at PLTR Cashflows and Balance Sheet
Signs that PLTR is financially healthy:
- PLTR has a low debt to equity ratio of 0.29.
- There are more short-term assets than short-term liabilities on the PLTR balance sheet.
- PLTR earnings of $167.10M is not enough to cover its interest payments.
- PLTR's operating cash flow of $489.77M allows it to safely service it's debt of $236.27M.
- There are more short-term assets than long-term liabilities on the PLTR balance sheet.
- PLTR profit margin has gone up from -30.6% to 6.9% in the past year.
Is Palantir stock a Buy, Hold, or Sell, according to Wall Street analysts?
Out of 12 sell side analysts who give forecasts on PLTR, the consensus analyst rating on Palantir is a Hold
Please note that analyst ratings are not stock recommendations, nor are they financial advice.
Most Recent PLTR Analyst Forecasts
Tyler Radke, a top 13% analyst from Citigroup maintains PLTR with a strong sell rating and raises their PLTR price target from $6.00 to $10.00, on Aug 8, 2023.
Alex Zukin, a top 3% analyst from Wolfe Research maintains PLTR with a sell rating and raises their PLTR price target from $6.00 to $7.50, on Aug 8, 2023.
Wolfe Research's Alex Zukin raised their price target on Palantir (NYSE: PLTR) by 25% from $6 to $7.5 on 2023/08/08. The analyst maintained their Sell rating on the stock.
2023/08/07's Q2 2023 earnings report delivered "smaller top and bottom line beats as management modestly raised FY 2023 margin estimates," Zukin summarized.
Looking ahead, Wolfe Research expects key metrics, including Commercial and Government revenue, to continue to deteriorate, the analyst said, "as other forward-looking key performance indications are showing only moderating growth."
Earnings Report
For Q2 2023, Palantir reported:
- EPS of $0.05, which was in line with the Zacks Consensus Estimate and ahead of Q2 2022's loss per share of $0.01 by 600%.
- Revenue of $533.32M, which missed the Zacks Consensus Estimate by 0.11% but beat, by 12.8%, Q2 2022's $473.01M.
- Authorization of a $1B stock repurchase program.
Management guided:
For Q3 20023:
- Revenue of $553M to $557M.
- Income from operations of $135M to $139M.
- GAAP net income.
For FY 2023:
- Revenue of $2.212B+ (increased).
- Income from operations of $576M+ (increased).
- GAAP net income in each quarter.
CEO Alex Karp said in the Letter to Shareholders: "The scale of the opportunity in front of us has never been more significant.
"We announced the release of our Artificial Intelligence Platform (AIP), which allows large language models to operate within the confines of the enterprise and on privately held data, less than three months ago.
"The platform already has users across more than one hundred organizations, including some of the largest enterprises in the world from the healthcare, finance, automotive, and energy sectors.
...
"We expect to remain profitable on both a quarterly and annual basis this year.
"As a result, we anticipate that we will become eligible for inclusion in the S&P 500 after we report our financial results for Q3 2023 in early 2023/11.
"At that point, we will have been profitable on a cumulative basis over the preceding four quarters."
Matthew Broome, a top 21% analyst from Mizuho maintains PLTR with a hold rating and raises their PLTR price target from $14.00 to $16.00, on Aug 8, 2023.
Brian Gesuale, a top 7% analyst from Raymond James maintains PLTR with a buy rating and raises their PLTR price target from $18.00 to $22.00, on Aug 8, 2023.
Mariana Perez, a top 35% analyst from Bank of America maintains PLTR with a strong buy rating and raises their PLTR price target from $13.00 to $18.00, on Jun 12, 2023.
You can dive deeper into what analysts are forecasting on the Palantir stock forecast page.
PLTR Trading Indicators
How is PLTR performing as a company?
Last year, PLTR earnings were $147.31M. Over the last two year, PLTR's earnings have increased by 18.32% per year. This was slower than the Software - Infrastructure industry average of 29.23%.
Last year, PLTR revenue was $2.13B. In the past three year, PLTR's revenue has increased by 104.02% per year. This was faster than the Software - Infrastructure industry average of 17.21%.
You can analyze PLTR's earnings and revenue performance here.
Who is buying/selling PLTR?
Over the past year, executives and large shareholders at PLTR have sold more shares than they have bought.
David A. Glazer, Officer of PLTR, was the latest PLTR insider to sell. They sold $10,196.00 worth of PLTR stock on Nov 22, 2023.
Dig into more about who owns PLTR shares here.
Can I get consistent income from PLTR stock?
No, Palantir doesn't provide an income stream by paying out dividends.
What do other traders have to say about PLTR?
One of the primary reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to find out what other community members have to say.
Step 5: Execute your PLTR purchase
You have two primary options:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are usually fine. - Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
If you want to be certain you're buying or selling at a particular dollar amount, place a limit order.
Press the Open Trade button and eToro will place the order.
If you want more info about investing in stocks on eToro, watch the helpful video below:
Step 6: Keep tabs on your PLTR investment
Now that you own some shares in PLTR, you'll want to keep up with your new company.
Make a watchlist to track your PLTR stock.
PLTR Feed
How to Buy Stock in Palantir
To summarize, here are the 6 steps to buy stock in Palantir:
- Decide where to buy Palantir stock
- Create your brokerage account
- Put funds into your brokerage account
- Evaluate Palantir stock
- Execute your PLTR purchase
- Keep tabs on your PLTR investment
If you need a place to buy stocks, eToro is our favorite venue.
Get Started with eToro TodayIf you would like to keep tabs on your investment in Palantir, add PLTR to your watchlist below.
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