Movement Alert｜Palantir Falls 3.25% in Pre-Market Trading, Post-Earnings Pressure Persists Despite Target Price Increases

Market Focus11-04 19:08

On November 4, Palantir fell 3.25% in Pre-Market Trading, trading at $169.64 per share, with turnover of $53.56 million.

The move came as the stock remained under pressure after its recent earnings release, even as several brokerages raised target prices, including Barclays to $273 and RBC to $130 on November 4, following prior increases from Truist, Morgan Stanley, Piper Sandler, and Citigroup.

Background context shows Palantir reported third-quarter adjusted EPS of $0.44 on revenue of $2.313 billion, both above expectations, and guided fourth-quarter revenue to $2.649 billion-$2.653 billion while lifting full-year revenue guidance to $8.530 billion-$8.534 billion. However, recent market commentary pointed to profit-taking after the results, elevated expectations for US commercial growth, flatter backlog metrics, and bearish options positioning that suggested limited conviction in further near-term upside.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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