Palantir Technologies (NYSE:PLTR) Price Target Cut to $11.00

Palantir Technologies (NYSE:PLTRGet Rating) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $15.00 to $11.00 in a research note issued to investors on Tuesday, The Fly reports.

A number of other brokerages also recently weighed in on PLTR. Wolfe Research reissued a hold rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Friday, February 18th. Monness Crespi & Hardt began coverage on shares of Palantir Technologies in a research note on Monday, April 11th. They issued a buy rating and a $20.00 price target on the stock. Citigroup decreased their price target on shares of Palantir Technologies from $10.00 to $7.00 in a research note on Tuesday. Zacks Investment Research downgraded shares of Palantir Technologies from a strong-buy rating to a hold rating in a research note on Tuesday, February 22nd. Finally, Piper Sandler upped their price target on shares of Palantir Technologies from $15.00 to $16.00 and gave the company an overweight rating in a research note on Friday, April 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of Hold and a consensus target price of $15.20.

PLTR opened at $7.46 on Tuesday. The business’s 50-day simple moving average is $12.16 and its 200 day simple moving average is $16.01. Palantir Technologies has a 52-week low of $7.32 and a 52-week high of $29.29. The firm has a market capitalization of $15.14 billion, a PE ratio of -27.63 and a beta of 5.00.

Palantir Technologies (NYSE:PLTRGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Palantir Technologies had a positive return on equity of 14.65% and a negative net margin of 33.75%. The company had revenue of $446.36 million for the quarter, compared to the consensus estimate of $443.51 million. During the same quarter in the prior year, the company earned $0.04 EPS. The company’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, equities research analysts anticipate that Palantir Technologies will post 0.2 earnings per share for the current year.

In related news, insider Ryan D. Taylor sold 79,439 shares of the firm’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $11.21, for a total value of $890,511.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Moore sold 36,500 shares of the firm’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $13.75, for a total transaction of $501,875.00. Following the completion of the transaction, the director now owns 1,939,626 shares of the company’s stock, valued at approximately $26,669,857.50. The disclosure for this sale can be found here. Insiders sold 347,256 shares of company stock valued at $3,900,073 in the last three months. Company insiders own 17.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Institutional & Family Asset Management LLC increased its position in shares of Palantir Technologies by 1,000.0% during the third quarter. Institutional & Family Asset Management LLC now owns 1,100 shares of the company’s stock worth $26,000 after buying an additional 1,000 shares during the period. Endurance Wealth Management Inc. bought a new stake in Palantir Technologies during the first quarter valued at $27,000. IndexIQ Advisors LLC acquired a new stake in Palantir Technologies during the 1st quarter worth about $27,000. Herold Advisors Inc. bought a new position in shares of Palantir Technologies in the 1st quarter worth about $35,000. Finally, Private Ocean LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 40.02% of the company’s stock.

Palantir Technologies Company Profile (Get Rating)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.

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