Palantir Technologies Inc. (NYSE:PLTR) Receives Average Rating of “Reduce” from Brokerages

Palantir Technologies Inc. (NYSE:PLTRGet Free Report) has been assigned a consensus recommendation of “Reduce” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.35.

PLTR has been the subject of a number of analyst reports. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Thursday. Bank of America boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Finally, Wedbush reissued an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th.

Get Our Latest Research Report on Palantir Technologies

Palantir Technologies Stock Down 6.1 %

NYSE PLTR opened at $23.01 on Friday. The firm has a market cap of $50.91 billion, a PE ratio of 255.70, a price-to-earnings-growth ratio of 6.01 and a beta of 2.82. Palantir Technologies has a 52 week low of $7.28 and a 52 week high of $27.50. The company has a 50 day moving average price of $22.66 and a 200 day moving average price of $19.11.

Palantir Technologies (NYSE:PLTRGet Free Report) last released its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. On average, equities research analysts anticipate that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $23.68, for a total transaction of $142,080.00. Following the completion of the sale, the director now directly owns 175,830 shares in the company, valued at $4,163,654.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.68, for a total value of $142,080.00. Following the transaction, the director now directly owns 175,830 shares in the company, valued at approximately $4,163,654.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total transaction of $64,440.00. Following the sale, the director now directly owns 200,783 shares of the company’s stock, valued at approximately $3,234,614.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,455,273 shares of company stock valued at $184,293,942. Corporate insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of the stock. AlphaCrest Capital Management LLC acquired a new position in Palantir Technologies during the first quarter worth about $206,000. D.A. Davidson & CO. grew its stake in shares of Palantir Technologies by 18.6% in the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock worth $200,000 after purchasing an additional 2,286 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth approximately $1,475,000. Cibc World Market Inc. lifted its stake in Palantir Technologies by 38.3% during the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Palantir Technologies by 71.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock worth $15,832,000 after buying an additional 482,171 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

(Get Free Report

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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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Analyst Recommendations for Palantir Technologies (NYSE:PLTR)

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