Editor’s Note: This article has been updated to remove duplicate content.

Palantir Technologies Inc PLTR will report its third-quarter results on Monday. Wall Street expects the data analytics company to report earnings per share of 9 cents and revenue of $701.13 million. The results are expected to be published after the market closes.

Cathie Wood has reduced its stake in Palantir, with Ark Invest Sold 227,699 shares worth $9.46 million just days before the company’s third-quarter earnings report.

Ark Invest’s regulatory filings, based on trades made on Friday, November 1, show that its stake in Palantir and Palantir will be further reduced Teslafueling speculation about Wood’s cautious outlook on growth stocks.

Palantir stock is up 126.11% over the past year and up 152.83% year-to-date.

Let’s look at what the charts show for Palantir stock and how the stock currently compares to Wall Street estimates.

Also Read: Cathie Wood Bets Big on Mark Zuckerberg: Ark Invests $19 Million in Meta Stocks, Dumps Palantir and Tesla Stocks

Palantir Stock Bears Shortly Ahead of Q3 Results

Palantir stock is experiencing a moderate bearish trend with slight selling pressure and is trading at $41.92.

Chart created with Benzinga Pro

Short-term technical indicators urge caution: Palantir stock is trading below its eight-day simple moving average (SMA) of $43.43 and its 20-day SMA of $43.00, both of which signal bearish sentiment.

However, the stock shows resilience over longer time frames, as Palantir stock is in bullish territory with its 50-day SMA of $38.18 and 200-day SMA of $27.60.

The Moving Average Convergence Divergence (MACD) indicator of 1.26 also shows a bullish bias, while the Relative Strength Index (RSI) of 53.06 suggests that the stock is currently neither overbought nor oversold.

Although Palantir stock is facing short-term selling pressure, its long-term indicators point to potential bullish momentum.

Analyst sentiment remains neutral On Palantir stock

Reviews and Consensus Estimates: The consensus analyst rating for Palantir stock is Neutral with a price target of $23.81. The latest analyst ratings from Mizuho, ​​Wedbush and BofA Securities suggest an average price target of $41.67 for Palantir shares, implying a modest upside of 0.64%.

As Palantir prepares to release its third-quarter earnings, investors must weigh Wood’s recent strategic shift against Wall Street’s cautious optimism.

PLTR Price promotion: Palantir shares closed Friday’s trading day at $41.92, up 0.87%.

Read more:

Photo: Shutterstock