PLTR Drops to Teens With a Price Target of $23.81

The PLTR stock price fluctuated between $18.4 and $19.53 throughout the trading session with the volume trading being 56M shares, which represented a positive variation when compared to the three months average volume of 45M shares.

The share price of Palantir Technologies Inc. (NYSE:PLTR) dipped -3.61% to close Friday’s market session at $18.98, lower as compared to yesterday’s close which brings the market valuation of the company to $42.24B.

The 52-week high for the Palantir Technologies Inc.’s shares is $45.00. That puts it -57.82% from that peak with a 52-week low of $17.06, while the S&P 500’s share price change was of 22.93%.

The company currently has a 526.75 P/E ratio and a price target of $23.81.

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 56M, while in the last 10 days the average was 40.77M and last three months – 45.48M.

Growing short interest

The Palantir Technologies Inc.’s shares are seeing an increasing short interest compared to the previous month. As of today, there are 81.7M shares being shorted which translates into 2.18 of a short ratio for PLTR, while in the previous month the shorted shares were 80.18M.

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

With a market cap of 42.24B, Palantir Technologies Inc. holds a total cash of $2.53B that translates into $1.26 per share, while the total debt is of $263.23M.

The company has seen an increase in the revenue with a year-over-year quarterly revenue growth percentage of 35.50%. The current revenue is of $1.43B that is $0.77 per share.

This is a great sign for a bright future.