What's Going On With Palantir Technologies Stock?

Palantir Technologies Inc. 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.

Related News: Why Plug Power Inc Shares Are Plunging

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