Palantir Technologies Inc. (NYSE:PLTR) Receives Consensus Rating of “Hold” from Analysts

Shares of Palantir Technologies Inc. (NYSE:PLTRGet Rating) have earned an average rating of “Hold” from the nine analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $14.89.

PLTR has been the topic of a number of analyst reports. Royal Bank of Canada cut Palantir Technologies from a “sector perform” rating to an “underperform” rating and dropped their target price for the company from $12.00 to $6.00 in a research report on Monday, May 9th. Piper Sandler raised their target price on Palantir Technologies from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, April 22nd. Monness Crespi & Hardt initiated coverage on Palantir Technologies in a research report on Monday, April 11th. They set a “buy” rating and a $20.00 target price on the stock. Citigroup dropped their target price on Palantir Technologies from $10.00 to $7.00 in a research report on Tuesday, May 10th. Finally, Morgan Stanley raised shares of Palantir Technologies from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $24.00 to $16.00 in a research note on Monday, March 7th.

In other Palantir Technologies news, insider Ryan D. Taylor sold 22,666 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $8.03, for a total value of $182,007.98. Following the transaction, the insider now directly owns 697,704 shares of the company’s stock, valued at approximately $5,602,563.12. The transaction was disclosed in a filing 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 stock was 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 directly owns 1,939,626 shares in the company, valued at $26,669,857.50. The disclosure for this sale can be found here. Insiders sold a total of 119,199 shares of company stock worth $1,178,652 over the last three months. Corporate insiders own 17.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 22.4% during the 1st quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after buying an additional 28,563,749 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Palantir Technologies by 2.3% during the 1st quarter. BlackRock Inc. now owns 86,955,785 shares of the company’s stock worth $1,193,904,000 after buying an additional 1,990,354 shares during the last quarter. State Street Corp increased its holdings in shares of Palantir Technologies by 2.8% during the 1st quarter. State Street Corp now owns 34,288,002 shares of the company’s stock worth $470,774,000 after buying an additional 918,126 shares during the last quarter. Geode Capital Management LLC increased its holdings in Palantir Technologies by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 19,873,634 shares of the company’s stock valued at $361,379,000 after purchasing an additional 1,741,909 shares during the last quarter. Finally, Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $269,158,000. Institutional investors and hedge funds own 40.02% of the company’s stock.

Shares of PLTR opened at $8.24 on Friday. The business’s 50-day moving average is $9.57 and its two-hundred day moving average is $12.87. The company has a market capitalization of $16.73 billion, a P/E ratio of -32.96 and a beta of 5.05. Palantir Technologies has a fifty-two week low of $6.44 and a fifty-two week high of $29.29.

Palantir Technologies (NYSE:PLTRGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Palantir Technologies had a positive return on equity of 12.04% and a negative net margin of 30.25%. The company had revenue of $446.36 million for the quarter, compared to analyst estimates of $443.51 million. During the same period in the prior year, the business posted $0.04 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.8% on a year-over-year basis. As a group, analysts predict that Palantir Technologies will post -0.07 earnings per share for the current fiscal year.

About Palantir Technologies (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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