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

Shares of Palantir Technologies Inc. (NYSE:PLTR) have been given a consensus recommendation of “Reduce” by the twelve analysts that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.35.

PLTR has been the topic of a number of research analyst reports. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Wednesday, February 14th. Raymond James increased their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th.

Palantir Technologies Stock Up 3.2 %

PLTR stock opened at $21.64 on Wednesday. The firm has a market cap of $47.87 billion, a PE ratio of 240.42, a P/E/G ratio of 5.02 and a beta of 2.78. The business has a 50 day moving average of $23.64 and a 200-day moving average of $19.99. Palantir Technologies has a 12-month low of $7.28 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, research analysts expect that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Activity

In other news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the completion of the transaction, the director now directly owns 191,783 shares in the company, valued at $4,777,314.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the transaction, the director now directly owns 191,783 shares of the company’s stock, valued at approximately $4,777,314.53. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock worth $184,343,202 over the last ninety days. Company insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PLTR. Halpern Financial Inc. boosted its holdings in shares of Palantir Technologies by 44.0% during the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after buying an additional 440 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Palantir Technologies by 16.9% during the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after purchasing an additional 463 shares in the last quarter. Principle Wealth Partners LLC boosted its position in shares of Palantir Technologies by 4.8% in the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after purchasing an additional 481 shares in the last quarter. Fiduciary Alliance LLC grew its stake in shares of Palantir Technologies by 1.0% in the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after buying an additional 618 shares during the last quarter. Finally, West Paces Advisors Inc. increased its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.