Palantir Technologies Inc. (NASDAQ:PLTR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have been given an average recommendation of “Hold” by the twenty-three ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $172.2750.

Several research analysts have recently issued reports on PLTR shares. Northland Securities upped their target price on shares of Palantir Technologies from $14.00 to $18.50 in a research note on Tuesday, November 4th. Citigroup boosted their price objective on shares of Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Piper Sandler increased their target price on Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. DA Davidson lifted their target price on Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th.

Palantir Technologies Trading Down 2.1%

NASDAQ PLTR opened at $183.57 on Monday. Palantir Technologies has a 12 month low of $63.40 and a 12 month high of $207.52. The stock’s fifty day moving average price is $179.31 and its 200-day moving average price is $163.90. The stock has a market cap of $437.53 billion, a P/E ratio of 437.08, a P/E/G ratio of 7.12 and a beta of 1.50.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.10 EPS. Palantir Technologies’s revenue was up 62.8% compared to the same quarter last year. As a group, analysts forecast that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 308,635 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the sale, the insider owned 592 shares of the company’s stock, valued at $97,082.08. This trade represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the sale, the insider owned 251,409 shares of the company’s stock, valued at $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,008,844 shares of company stock worth $164,676,161. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in PLTR. Vanguard Group Inc. boosted its position in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after purchasing an additional 21,809 shares during the last quarter. State of Michigan Retirement System boosted its position in Palantir Technologies by 1.3% during the second quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock valued at $127,923,000 after purchasing an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC purchased a new position in Palantir Technologies in the second quarter valued at about $204,000. Finally, New Century Financial Group LLC purchased a new position in Palantir Technologies in the second quarter valued at about $228,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.