Palantir Technologies (NASDAQ:PLTR) Upgraded at Argus

Argus upgraded shares of Palantir Technologies (NASDAQ:PLTRFree Report) to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on PLTR. Jefferies Financial Group set a $208.00 price objective on Palantir Technologies in a research report on Thursday, January 22nd. Daiwa Securities Group raised Palantir Technologies from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Morgan Stanley upped their price objective on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, UBS Group lowered their target price on shares of Palantir Technologies from $205.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $191.05.

Check Out Our Latest Analysis on PLTR

Palantir Technologies Stock Down 2.7%

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

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

Insiders Place Their Bets

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,252 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $157.50, for a total transaction of $197,190.00. Following the transaction, the insider directly owned 47,044 shares in the company, valued at $7,409,430. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shyam Sankar sold 19,004 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. The trade was a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,023,844 shares of company stock valued at $167,455,085 over the last 90 days. Company insiders own 9.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. Occidental Asset Management LLC increased its stake in Palantir Technologies by 2.8% in the 3rd quarter. Occidental Asset Management LLC now owns 1,964 shares of the company’s stock worth $358,000 after purchasing an additional 53 shares during the period. Gallacher Capital Management LLC increased its stake in shares of Palantir Technologies by 2.2% in the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company’s stock worth $447,000 after buying an additional 53 shares during the period. Bare Financial Services Inc increased its stake 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 worth $28,000 after buying an additional 55 shares during the period. Lionshead Wealth Management LLC raised its holdings in Palantir Technologies by 0.4% during the 3rd quarter. Lionshead Wealth Management LLC now owns 13,130 shares of the company’s stock valued at $2,395,000 after buying an additional 56 shares during the last quarter. Finally, Ellenbecker Investment Group boosted its position in Palantir Technologies by 3.6% during the 3rd quarter. Ellenbecker Investment Group now owns 1,619 shares of the company’s stock valued at $295,000 after buying an additional 57 shares during the period. 45.65% of the stock is owned by institutional investors.

Palantir Technologies News Summary

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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