What's Going On With Palantir Technologies Stock Today?

Palantir Technologies Inc. PLTR shares are trading higher Wednesday. The stock is up over 3% on the day and nearly 30% over the last three months.

What To Know:

Nvidia Corporation NVDA is set to release its second-quarter financial reports today after the market close, and excitement is building throughout the tech sector.

Wedbush analyst Dan Ives anticipates a strong report from Nvidia that could move the entire tech sector higher.

On CNBC's "Squawk On The Street" Ives said, "It's really about the demand story that I believe is right now skyrocketing. And if you look at tech across the board, this is going to be guidance heard around the world because it's the godfather of AI and in terms of what we are seeing, that is the best barometer."

Palantir released its second-quarter financial report earlier this month with earnings per share of 5 cents and quarterly revenue of $533.317 million, an increase of 13% year-over-year and in line with expectations. Despite meeting analysts' expectations and announcing a $1 billion share buyback program, Palantir shares have trended downward since the earnings were released.

PLTR Price Action: According to Benzinga Pro, Palantir shares are up by 3.63% at $15.20 at the time of publication.

Image: Alexandra_Koch from Pixabay

PLTRPalantir Technologies Inc

$116.72-2.04%