Palantir Stock Pushes Higher After Earnings

The stock has been seeing pressure from its 50-day moving average

Deputy Editor
May 11, 2021 at 10:41 AM
facebook X logo linkedin

The shares of Palantir Technologies Inc (NYSE:PLTR) are up 6.4% to trade at $19.66 at last check, so far defying the broad-market selloff. This comes after the data analytics company reported first-quarter earnings of 4 cents per share -- in line with analyst estimates -- as well as better-than-expected revenue. However, keeping gains in check today is the company's second-quarter forecast, which depicted slow revenue growth. Meanwhile, the software platform has begun to accept bitcoin payments from customers, and is considering investing in the crypto giant. 

It's been a volatile morning for PLTR, which at first traded deep in the red before the open before pivoting higher at the bell. Longer term, Palantir stock has been steadily moving lower on the charts since hitting a record high of $45 on Jan 27. During this channel of lower highs, the shares' with 50-day moving average keeping a lid on any breakouts. Context is required though: PLTR is still almost double at its initial public offering (IPO) price of $10 from Sept. 30.

On the analyst front, there is plenty of room for bull notes that could send the security higher. Of the four analysts in coverage, three carry a "hold" or worse rating.

Options traders have been quick on the draw this morning, with total options volume running at triple what's typically seen at this point. More specifically, 212,000 calls and 106,000 puts have crossed the tape already, with the weekly 5/14 20-strike call seeing the most activity. New positions are also being opened at the 19-strike call in the same session. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI