Palantir Technologies (NYSE:PLTR) Trading 4% Higher – Should You Buy?

Shares of Palantir Technologies Inc. (NYSE:PLTR) rose 4% on Tuesday . The stock traded as high as $70.73 and last traded at $69.04. Approximately 41,844,208 shares changed hands during trading, a decline of 29% from the average daily volume of 58,575,855 shares. The stock had previously closed at $66.39.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wedbush boosted their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Bank of America lifted their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Stock Up 6.9 %

The firm has a market capitalization of $161.63 billion, a PE ratio of 345.22, a price-to-earnings-growth ratio of 9.07 and a beta of 2.87. The business’s 50-day moving average price is $48.86 and its 200-day moving average price is $35.05.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (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 company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the firm’s stock in a transaction that occurred 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 directly owns 158,280 shares of the company’s stock, valued at approximately $5,253,313.20. This trade represents a 3.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’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 value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,143,181 shares of company stock valued at $1,602,670,958. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

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