Palantir Technologies Inc. (NASDAQ:PLTR) Receives $91.37 Average PT from Brokerages

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-three ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $91.37.

Several research firms have recently issued reports on PLTR. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $116.00 to $135.00 in a report on Wednesday. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Morgan Stanley increased their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th.

Palantir Technologies Stock Performance

PLTR stock traded down $0.47 during mid-day trading on Friday, reaching $153.52. 45,673,387 shares of the stock traded hands, compared to its average volume of 83,290,274. The business has a 50-day moving average price of $134.33 and a two-hundred day moving average price of $106.15. The stock has a market capitalization of $362.29 billion, a PE ratio of 667.48, a PEG ratio of 13.15 and a beta of 2.59. Palantir Technologies has a one year low of $21.23 and a one year high of $155.68.

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 for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The firm's revenue for the quarter was up 39.4% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $4,484,317.20. Following the sale, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the sale, the insider owned 495,497 shares in the company, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Corporate insiders own 9.23% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC purchased a new stake in Palantir Technologies in the second quarter valued at approximately $2,543,888,000. Norges Bank purchased a new stake in Palantir Technologies in the fourth quarter valued at approximately $1,360,191,000. Nuveen LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $520,232,000. Price T Rowe Associates Inc. MD lifted its stake in Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after buying an additional 4,748,513 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.