Palantir Technologies (NASDAQ:PLTR) Earns Buy Rating from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Palantir Technologies (NASDAQ:PLTRFree Report) in a report issued on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $223.00 price objective on the stock.

A number of other equities research analysts also recently commented on PLTR. CICC Research lifted their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Robert W. Baird lifted their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. DA Davidson boosted their target price on shares of Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Finally, Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $155.00 to $198.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $174.69.

Get Our Latest Analysis on PLTR

Palantir Technologies Price Performance

Shares of PLTR opened at $176.86 on Tuesday. The company’s fifty day moving average price is $179.67 and its 200-day moving average price is $170.17. Palantir Technologies has a 1-year low of $63.40 and a 1-year high of $207.52. The firm has a market capitalization of $421.54 billion, a PE ratio of 421.11, a price-to-earnings-growth ratio of 4.57 and a beta of 1.54.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its 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 return on equity of 15.48% and a net margin of 28.11%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 62.8% on a year-over-year basis. As a group, research analysts anticipate that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $181.35, for a total value of $2,176,200.00. Following the sale, the insider directly owned 239,409 shares of the company’s stock, valued at approximately $43,416,822.15. This trade represents a 4.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $181.35, for a total value of $616,590.00. Following the completion of the sale, the director owned 58,687 shares of the company’s stock, valued at $10,642,887.45. This trade represents a 5.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,023,444 shares of company stock worth $167,394,629. 9.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in PLTR. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Briaud Financial Planning Inc purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $27,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Palantir Technologies during the second quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Palantir Technologies during the second quarter valued at approximately $28,000. Finally, Bare Financial Services Inc lifted its position in shares of Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

About Palantir Technologies

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Analyst Recommendations for Palantir Technologies (NASDAQ:PLTR)

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