Robert W. Baird Initiates Coverage on Palantir Technologies (NYSE:PLTR)

Research analysts at Robert W. Baird started coverage on shares of Palantir Technologies (NYSE:PLTR) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $70.00 price target on the stock. Robert W. Baird’s price objective indicates a potential downside of 7.98% from the stock’s previous close.

PLTR has been the subject of several other reports. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Wedbush increased their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Mizuho lifted their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $38.40.

Palantir Technologies Price Performance

PLTR stock opened at $76.07 on Thursday. The company has a market capitalization of $173.29 billion, a PE ratio of 380.35, a P/E/G ratio of 9.70 and a beta of 2.87. Palantir Technologies has a 12 month low of $15.66 and a 12 month high of $80.91. The firm’s 50-day moving average is $55.75 and its 200 day moving average is $38.39.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies will post 0.21 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $39.95, for a total transaction of $799,000.00. Following the completion of the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,118,366 shares of company stock worth $2,029,875,392 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the second quarter worth $30,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

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.