Palantir Technologies (PLTR) Stock Price Forecast: Bearish streak continues as lockup period expires, causing selloff

NYSE:PLTR fell by 3.45% on Monday as the broader markets continued to fall.
Palantir’s Chairman and other high ranking officials sold off some shares as the IPO lockup period expired last week.
Palantir is still recovering from what investors saw as mixed results from its quarterly earnings call.

NYSE:PLTR saw a perfect storm of events last week that left the stock with little choice but to fall from its January highs. So far in 2021, Palantir has soared, hitting a new all-time high of $45, before meeting resistance and plunging downwards over the last week. On Monday, the trend continued as Palantir shed 3.45% to start the week as the global markets saw the tech sector selloff across the board.

One of the bearish catalysts from last week was the expiration of the IPO lockup period which allows insiders who have held shares to commence selling. Chairman of the Board Peter Thiel announced that he sold 20 million of his Palantir shares last week, which some investors take as a sign that they too should also be selling. But insiders selling shares does not necessarily mean that they do not believe in the future of the company, but are merely using this opportunity to raise some personal capital for themselves.

PLTR stock forecast

Palantir also had an earnings report last week that didn’t quite hit all of the right notes for shareholders. While revenue surged over 40% per customer year-over-year, Palantir still posted an unexpected loss of $0.08 per share. Wall Street analysts had a consensus estimate of Palantir turning things around this quarter and earning a slight profit per share. Palantir’s forecast is extremely bullish though as the data analytics firm expects to earn upwards of $4 billion by 2025.

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