Palantir Technologies (NASDAQ:PLTR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Palantir Technologies (NASDAQ:PLTR) from a hold rating to a buy rating in a report issued on Saturday.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald raised their price objective on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group raised their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “sell” rating to a “hold” rating and raised their price objective for the company from $80.00 to $160.00 in a research note on Tuesday, August 5th. Mizuho upgraded Palantir Technologies from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada raised their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $136.61.

Palantir Technologies Trading Down 2.3%

NASDAQ PLTR opened at $182.68 on Friday. The company has a fifty day simple moving average of $146.65 and a 200 day simple moving average of $116.86. Palantir Technologies has a 12-month low of $29.27 and a 12-month high of $187.99. The company has a market cap of $431.11 billion, a P/E ratio of 608.95, a PEG ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the firm posted $0.09 EPS. Palantir Technologies’s revenue was up 48.0% compared to the same quarter last year. Sell-side analysts predict that Palantir Technologies will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director owned 2,348 shares of the company’s stock, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of Palantir Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares of the company’s stock, valued at approximately $61,987,191.63. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,515,632 shares of company stock worth $196,472,623 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently added to or reduced their stakes in the company. Accuvest Global Advisors increased its holdings in Palantir Technologies by 0.7% in the 2nd 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 last quarter. Ignite Planners LLC increased its position in shares of Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock valued at $2,094,000 after buying an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. increased its position in shares of Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock valued at $747,000 after buying an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. increased its position in shares of Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock valued at $1,007,000 after buying an additional 73 shares during the period. Finally, Boomfish Wealth Group LLC increased its position in shares of Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock valued at $379,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.