Palantir Technologies (NYSE:PLTR) Earns “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Palantir Technologies (NYSE:PLTR) in a research note released on Monday morning, Benzinga reports. They currently have a $38.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada restated an underperform rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Monness Crespi & Hardt reduced their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a sell rating for the company in a report on Tuesday, August 6th. Raymond James lifted their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an outperform rating in a research note on Tuesday, August 6th. Northland Securities initiated coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a market perform rating and a $35.00 price objective on the stock. Finally, Citigroup boosted their target price on Palantir Technologies from $25.00 to $28.00 and gave the company a neutral rating in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $26.79.

Palantir Technologies Stock Up 0.3 %

PLTR opened at $34.85 on Monday. The stock has a market cap of $77.61 billion, a PE ratio of 290.42, a price-to-earnings-growth ratio of 5.35 and a beta of 2.72. Palantir Technologies has a twelve month low of $13.68 and a twelve month high of $35.20. The company has a fifty day moving average of $29.34 and a 200-day moving average of $25.34.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same period last year, the business posted $0.01 earnings per share. The business’s revenue was up 27.2% on a year-over-year basis. Sell-side analysts anticipate that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the completion of the sale, the director now owns 158,280 shares in the company, valued at approximately $5,253,313.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $33.19, for a total value of $200,799.50. Following the transaction, the director now owns 158,280 shares of the company’s stock, valued at approximately $5,253,313.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 724,699 shares of company stock worth $22,329,596. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares during the period. Finally, Bogart Wealth LLC grew its position in shares of Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

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.