Palantir Technologies Inc. (NASDAQ:PLTR) Receives $41.00 Average PT from Brokerages

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have been given an average rating of “Reduce” by the nineteen research firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $41.00.

A number of brokerages have recently issued reports on PLTR. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. UBS Group started coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. Finally, DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th.

Palantir Technologies Stock Up 6.3 %

PLTR stock opened at $79.89 on Monday. The firm’s fifty day simple moving average is $66.28 and its two-hundred day simple moving average is $44.38. The stock has a market capitalization of $181.99 billion, a price-to-earnings ratio of 399.47, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. Palantir Technologies has a twelve month low of $15.66 and a twelve month high of $84.80.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities research analysts expect that Palantir Technologies will post 0.21 EPS for the current year.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,160,723 shares of company stock worth $1,408,158,941. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% in the 3rd 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 last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter worth about $30,000. Finally, Ashburton Jersey Ltd purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.