Palantir Technologies (NASDAQ:PLTR) Stock Rating Upgraded by Daiwa America

Palantir Technologies (NASDAQ:PLTRGet Free Report) was upgraded by analysts at Daiwa America from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on PLTR. Weiss Ratings lowered shares of Palantir Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. The Goldman Sachs Group lowered their target price on Palantir Technologies from $188.00 to $182.00 in a report on Tuesday, February 3rd. Truist Financial initiated coverage on Palantir Technologies in a research report on Tuesday, January 6th. They set a “buy” rating and a $223.00 price target on the stock. Raymond James Financial restated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Finally, William Blair raised Palantir Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $191.05.

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Palantir Technologies Trading Down 2.7%

Shares of NASDAQ PLTR opened at $135.68 on Tuesday. The company has a market capitalization of $323.38 billion, a price-to-earnings ratio of 215.37, a price-to-earnings-growth ratio of 2.68 and a beta of 1.64. Palantir Technologies has a twelve month low of $66.12 and a twelve month high of $207.52. The business has a 50 day simple moving average of $171.91 and a 200-day simple moving average of $172.90.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its quarterly earnings data on Monday, February 2nd. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The firm’s revenue was up 70.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, equities analysts predict that Palantir Technologies will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,252 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $157.50, for a total transaction of $197,190.00. Following the completion of the transaction, the insider directly owned 47,044 shares of the company’s stock, valued at approximately $7,409,430. This trade represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 12,000 shares of Palantir Technologies stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $181.35, for a total value of $2,176,200.00. Following the transaction, the insider owned 239,409 shares in the company, valued at approximately $43,416,822.15. This trade represents a 4.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,023,844 shares of company stock valued at $167,455,085 over the last three months. 9.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLTR. Bare Financial Services Inc boosted its position in shares of Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. Basepoint Wealth LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $29,000. Financial Consulate Inc. purchased a new position in shares of Palantir Technologies in the third quarter worth approximately $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Palantir Technologies during the third quarter valued at approximately $31,000. Finally, United Financial Planning Group LLC acquired a new stake in shares of Palantir Technologies during the third quarter valued at approximately $32,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies News Summary

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

Palantir Technologies Company Profile

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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.

Further Reading

Analyst Recommendations for Palantir Technologies (NASDAQ:PLTR)

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