Palantir Technologies Inc. (NYSE:PLTR) Receives $21.96 Average Price Target from Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have been given an average recommendation of “Reduce” by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $23.14.

PLTR has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price objective for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research note on Friday, August 2nd.

Insider Activity at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,422 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $22.94, for a total value of $468,480.68. Following the completion of the transaction, the director now owns 1,587,707 shares of the company’s stock, valued at $36,421,998.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $22.94, for a total transaction of $468,480.68. Following the completion of the sale, the director now directly owns 1,587,707 shares in the company, valued at approximately $36,421,998.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 90,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the transaction, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,396 shares of company stock worth $4,389,707. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pursue Wealth Partners LLC acquired a new position in Palantir Technologies in the 4th quarter worth about $1,741,000. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares during the period. SG Americas Securities LLC raised its holdings in Palantir Technologies by 183.3% in the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after buying an additional 102,479 shares during the last quarter. Accel Wealth Management acquired a new stake in Palantir Technologies during the 1st quarter worth approximately $360,000. Finally, Panagora Asset Management Inc. boosted its position in Palantir Technologies by 185.6% during the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after buying an additional 49,839 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $29.28 on Friday. The company’s 50-day moving average is $25.80 and its 200-day moving average is $23.52. The firm has a market capitalization of $65.20 billion, a PE ratio of 244.00, a P/E/G ratio of 6.02 and a beta of 2.71. Palantir Technologies has a fifty-two week low of $13.68 and a fifty-two week high of $29.83.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. Palantir Technologies’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. As a group, analysts expect that Palantir Technologies will post 0.16 EPS for the current year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.