Palantir Technologies Inc. (NASDAQ:PLTR) Receives Average Rating of "Hold" from Brokerages

Key Points

• Palantir Technologies has received an average rating of "Hold" from twenty-three brokerages, with two sell recommendations, seventeen holds, and four buy recommendations.
• The company reported a 48% year-over-year revenue increase, with quarterly revenue of $1 billion and an EPS of $0.16, surpassing analyst expectations.
• Insider transactions show substantial stock sales, with CEO Alexander C. Karp selling nearly 359,000 shares, indicating a 5.29% decrease in his ownership position.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) has been given a consensus rating of "Hold" by the twenty-three research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $136.6111.

A number of brokerages have commented on PLTR. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada raised their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $182.68 on Tuesday. The stock has a market cap of $431.11 billion, a P/E ratio of 608.95, a P/E/G ratio of 10.54 and a beta of 2.60. The company has a fifty day moving average price of $146.65 and a two-hundred day moving average price of $116.86. Palantir Technologies has a one year low of $29.27 and a one year high of $187.99.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the firm'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 $45,371,734.98. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Glazer sold 30,812 shares of the firm'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 transaction, the insider directly owned 495,497 shares in the company, valued at approximately $62,625,865.83. This represents a 5.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,515,632 shares of company stock worth $196,472,623. Corporate insiders own 12.93% of the company's stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Vanguard Group Inc. grew its holdings in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the last quarter. Nuveen LLC bought a new stake in Palantir Technologies during the 1st quarter worth approximately $520,232,000. Price T Rowe Associates Inc. MD lifted its position in shares of Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

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.

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