Palantir Technologies (NYSE:PLTR) Receives “Outperform” Rating from Wedbush

Palantir Technologies (NYSE:PLTR)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued on Monday, Benzinga reports. They presently have a $35.00 price target on the stock. Wedbush’s target price points to a potential upside of 63.51% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Bank of America lifted their price target 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. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a report on Tuesday, February 6th. Raymond James raised 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. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Wednesday, February 14th. Finally, Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price target for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.65.

Palantir Technologies Stock Performance

Shares of PLTR opened at $21.41 on Monday. Palantir Technologies has a 52-week low of $7.59 and a 52-week high of $27.50. The firm has a market cap of $47.36 billion, a price-to-earnings ratio of 237.86, a PEG ratio of 5.72 and a beta of 2.76. The business’s fifty day moving average is $23.40 and its 200-day moving average is $20.31.

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

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,356,273 shares of company stock valued at $182,143,602. 13.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. West Paces Advisors Inc. raised its holdings in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares in the last quarter. Bogart Wealth LLC boosted its holdings in Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after acquiring an additional 1,065 shares in the last quarter. Halpern Financial Inc. grew its stake in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares during the period. Finally, Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. 45.65% of the stock is owned by institutional investors.

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.