Palantir Technologies (NYSE:PLTR) Upgraded to “Neutral” at Monness Crespi & Hardt

Monness Crespi & Hardt upgraded shares of Palantir Technologies (NYSE:PLTR) from a sell rating to a neutral rating in a report issued on Friday morning, MarketBeat reports.

Several other research firms have also weighed in on PLTR. Bank of America lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Citigroup raised shares of Palantir Technologies from a sell rating to a neutral rating and lifted their price objective for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Royal Bank of Canada reissued an underperform rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Mizuho lifted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday, March 7th. Finally, Raymond James lifted their price objective on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an outperform rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of Hold and a consensus price target of $18.35.

Palantir Technologies Stock Up 3.7 %

Shares of Palantir Technologies stock opened at $22.52 on Friday. The stock has a market capitalization of $49.83 billion, a P/E ratio of 250.19, a price-to-earnings-growth ratio of 5.32 and a beta of 2.78. The company has a 50-day simple moving average of $23.45 and a 200 day simple moving average of $20.05. Palantir Technologies has a 12-month low of $7.28 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, equities analysts anticipate that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now directly owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Shyam Sankar sold 29,168 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $18,819,650. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in PLTR. Qsemble Capital Management LP acquired a new position in shares of Palantir Technologies in the third quarter valued at $1,178,000. Trexquant Investment LP acquired a new position in shares of Palantir Technologies in the third quarter valued at $4,446,000. Victory Capital Management Inc. increased its holdings in shares of Palantir Technologies by 3.9% in the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after purchasing an additional 25,787 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after purchasing an additional 116,220 shares during the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Palantir Technologies by 148.4% in the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock valued at $3,103,000 after purchasing an additional 115,876 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.