Palantir Technologies Inc. (NYSE:PLTR) shares are trading higher Friday. The stock appears to be moving on continued upward momentum which has driven it more than 16% higher over the last month.
What To Know:
Earlier this week, CNBC’s Jim Cramer mentioned Palantir saying the company reported a “dynamite” quarter, and, “I disliked these guys for a long time, not anymore.”
Palantir Technologies reported its third quarter financial results on Nov. 2, beating the consensus estimates with earnings of 7 cents per share and quarterly revenue of $558.16 million.
Wedbush analyst Daniel Ives maintains an Outperform rating on Palantir Technologies and a $25 price target for the stock.
Palantir Technologies shares have become a favorite among retail investors, and the stock is currently one of the top trending tickers on Stocktwits and Yahoo Finance. According to data from Benzinga Pro, 8.19% of available PLTR shares are being sold short.
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PLTR Price Action: According to Benzinga Pro, Palantir Technologies shares are up 5.5% at $19.28 at the time of publication.
Image: Gerd Altmann from Pixabay
