PLTR Dips on 36% Revenue Growth Increase YoY

The PLTR stock price fluctuated between $22.12 and $23.64 throughout the trading session with the volume trading being 94M shares, which represented a positive variation when compared to the three months average volume of 49M shares.

The share price of Palantir Technologies Inc. (NYSE:PLTR) dipped -7.13% to close Wednesday’s market session at $22.52, lower as compared to yesterday’s close which brings the market valuation of the company to $44B.

The 52-week high for Palantir Technologies Inc.’s shares is $45.00. That puts it -49.96% from that peak but still a great gain since the share price dropped to a 52-week low of $14.41, while the S&P 500’s share price change was of 35%.

The company currently has a price target of $24.29.

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What does the trading volume tell us about the PLTR stock?

During the last trading session, Palantir Technologies Inc. (NYSE:PLTR) has seen growth in its daily volume. The daily volume was of 49M, while in the last 10 days the average was 41.8M and last three months – 49.28M.

The increasing interest in the PLTR stock from the investors is helping to drive the stock price up.

Shrinking short interest

The Palantir Technologies Inc.’s shares are seeing a decreasing short interest compared to the previous month. As of today, there are 54.49M shares being shorted which translates into 1.15 of a short ratio for PLTR, while in the previous month the shorted shares were 56.35M.

Palantir Technologies Inc.’s (NYSE:PLTR) financials

With a market cap of $44B, Palantir Technologies Inc. holds a total cash of $2.34B that translates into $1.2 per share, while the total debt is of $249.79M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 49.10%. The current revenue is of $1.33B that is $0.83 per share.

This is a great sign for a bright future.