Palantir Technologies Inc. (NASDAQ:PLTR) Receives $44.61 Average Target Price from Brokerages

Palantir Technologies Inc. (NASDAQ:PLTR) has received a consensus rating of “Reduce” from the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $44.61.

Several research firms have issued reports on PLTR. Morgan Stanley restated an “underweight” rating and set a $60.00 price target on shares of Palantir Technologies in a report on Monday, January 6th. Bank of America raised their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a report on Friday, January 17th. They set a “neutral” rating and a $72.00 price target for the company. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $80.23 on Friday. The company has a 50 day simple moving average of $72.25 and a 200 day simple moving average of $49.52. The firm has a market cap of $182.77 billion, a PE ratio of 401.17, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies has a 1 year low of $16.03 and a 1 year high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. As a group, research analysts anticipate that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. The trade was a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,181,807 shares of company stock valued at $1,288,448,522 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Angeles Wealth Management LLC purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $325,000. Activest Wealth Management boosted its stake in Palantir Technologies by 55.7% in the fourth quarter. Activest Wealth Management now owns 632 shares of the company’s stock worth $48,000 after buying an additional 226 shares in the last quarter. V2 Financial group LLC boosted its stake in Palantir Technologies by 2.9% in the fourth quarter. V2 Financial group LLC now owns 7,176 shares of the company’s stock worth $543,000 after buying an additional 200 shares in the last quarter. HTLF Bank purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $219,000. Finally, Legacy Financial Strategies LLC purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $551,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.