Analysts Set Palantir Technologies Inc. (NYSE:PLTR) PT at $26.79

Palantir Technologies Inc. (NYSE:PLTR) has been given an average rating of “Reduce” by the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $26.79.

Several equities analysts have recently weighed in on the stock. Argus began coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Monness Crespi & Hardt decreased their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Northland Securities began coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective for the company. Bank of America lifted their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd.

Palantir Technologies Price Performance

NYSE PLTR opened at $37.12 on Friday. Palantir Technologies has a 12 month low of $13.88 and a 12 month high of $38.19. The firm has a market capitalization of $83.12 billion, a PE ratio of 309.32 and a beta of 2.72. The company’s 50 day simple moving average is $31.10 and its 200 day simple moving average is $26.15.

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

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 6,655 shares of Palantir Technologies stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total transaction of $254,021.35. Following the completion of the sale, the director now owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.17, for a total transaction of $254,021.35. Following the transaction, the director now owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,389,893 shares of company stock valued at $190,485,693. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vantage Financial Partners LLC lifted its holdings in Palantir Technologies by 20.2% in the 4th quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,124 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Palantir Technologies by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after purchasing an additional 228,428 shares during the period. Norges Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $46,542,000. PNC Financial Services Group Inc. boosted its holdings in shares of Palantir Technologies by 11.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock worth $980,000 after buying an additional 5,759 shares during the period. Finally, Balentine LLC acquired a new position in Palantir Technologies in the 4th quarter valued at $179,000. Institutional investors and hedge funds 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.