Palantir Technologies Inc. (NASDAQ:PLTR) Given Consensus Recommendation of "Reduce" by Brokerages

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) have been given an average recommendation of "Reduce" by the twenty-three ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $83.95.

Several equities analysts have issued reports on the stock. Bank of America upped their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Citigroup upped their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th.

Palantir Technologies Price Performance

PLTR stock traded down $1.44 during trading on Thursday, reaching $122.32. 62,834,015 shares of the company were exchanged, compared to its average volume of 78,213,696. The company has a 50-day moving average of $104.78 and a two-hundred day moving average of $88.97. The company has a market capitalization of $286.88 billion, a price-to-earnings ratio of 643.82, a P/E/G ratio of 10.84 and a beta of 2.68. Palantir Technologies has a twelve month low of $21.01 and a twelve month high of $133.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. On average, analysts forecast that Palantir Technologies will post 0.31 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now directly owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,901,701 shares of company stock valued at $370,407,533 over the last ninety days. 9.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mather Group LLC. lifted its stake in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock valued at $67,000 after buying an additional 448 shares in the last quarter. Destiny Wealth Partners LLC bought a new position in shares of Palantir Technologies in the fourth quarter valued at $3,233,000. American Institute for Advanced Investment Management LLP bought a new position in shares of Palantir Technologies in the fourth quarter valued at $246,000. Sage Advisors LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $369,000. Finally, Diversified Investment Strategies LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $242,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.