Palantir Technologies (NASDAQ:PLTR) Receives “Neutral” Rating from UBS Group

Palantir Technologies (NASDAQ:PLTR)‘s stock had its “neutral” rating reaffirmed by research analysts at UBS Group in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $165.00 price objective on the stock, up from their prior price objective of $110.00. UBS Group’s price objective points to a potential downside of 4.77% from the stock’s current price.

A number of other research firms have also recently weighed in on PLTR. Loop Capital increased their price target on Palantir Technologies from $155.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Cantor Fitzgerald increased their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday. Wedbush set a $160.00 price objective on Palantir Technologies in a research report on Thursday, July 10th. Citigroup increased their price objective on Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, Mizuho upgraded Palantir Technologies from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $122.80.

Palantir Technologies Stock Up 7.8%

NASDAQ:PLTR opened at $173.27 on Tuesday. Palantir Technologies has a twelve month low of $25.57 and a twelve month high of $176.33. The business has a 50 day moving average price of $142.12 and a two-hundred day moving average price of $113.60. The company has a market cap of $408.90 billion, a P/E ratio of 577.59, a price-to-earnings-growth ratio of 13.70 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 11.26% and a net margin of 22.18%. The business’s revenue was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. As a group, analysts anticipate that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the transaction, the director owned 62,887 shares in the company, valued at $8,779,654.07. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 in the last 90 days. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Accuvest Global Advisors grew its stake in shares of Palantir Technologies by 0.7% in the second quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after acquiring an additional 63 shares during the period. Ignite Planners LLC grew its stake in shares of Palantir Technologies by 0.4% in the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after acquiring an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. grew its stake in shares of Palantir Technologies by 1.3% in the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in shares of Palantir Technologies by 1.0% in the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after acquiring an additional 73 shares during the period. Finally, Boomfish Wealth Group LLC grew its holdings in shares of Palantir Technologies by 2.7% in the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.