Palantir (NASDAQ:PLTR | PLTR Price Prediction) is a Hold at $123.53, and buying days before the August 3 earnings release means accepting binary event risk.
It's earnings season, meaning that traders have ideal opportunities to capitalize with leveraged ETFs, particularly those of the single-stock variety. Among the upcoming tentpole reports is Palantir (PLTR), which is slated for Monday, Aug. 3, after the U.S. market closes.
The latest trading day saw Palantir Technologies Inc. (PLTR) settling at $123.53, representing a -6.08% change from its previous close.
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Shares of Palantir Technologies PLTR-6.57% were down 6% in Tuesday trading. Meanwhile, major enterprise software names such as Adobe ADBE+4.54%, Salesforce CRM+4.67% and Workday WDAY+7.64% were up 6% or more, as the broader sector was benefitting from a rotation out of chip stocks.
Palantir Technologies PLTR shares plunged about 9% on Tuesday after gaining roughly 5% in the previous session, as investors locked in profits and reassessed risks ahead of the company's second-quarter earnings report due on Aug. 3. The 5% bump had come after Oppenheimer reaffirmed its Outperform rating and maintained a $200 price target ahead of the company's second-quarter earnings report.
From a technical perspective, Palantir Technologies Inc. (PLTR) is looking like an interesting pick, as it just reached a key level of support. PLTR recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
Palantir Technologies Inc. (PLTR) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, PLTR broke through the 50-day moving average, which suggests a short-term bullish trend.
Shares of Palantir (NASDAQ:PLTR | PLTR Price Prediction) are up 7% Monday afternoon to $131 and change, but the stock is still down 26% year to date (YTD).
Palantir (NASDAQ:PLTR | PLTR Price Prediction) has become one of the market's most polarizing AI names.
Palantir Technologies (PLTR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Palantir is set to release its Q2 on Monday, August 3. Ahead of the release, shares have struggled in recent days, with losses of nearly 10% in the last five. I believe investors should monitor the outlook for commercial bookings for stabilization following a decline in growth seen last quarter.