Investment analysts at Piper Sandler initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR - Get Free Report) in a report released on Friday, Marketbeat.com reports. The firm set an "overweight" rating and a $170.00 price target on the stock. Piper Sandler's price target points to a potential upside of 7.05% from the stock's current price.
PLTR has been the topic of several other research reports. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wedbush set a $160.00 target price on shares of Palantir Technologies in a report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and a consensus target price of $95.30.
Get Our Latest Stock Analysis on PLTR
Palantir Technologies Stock Performance
Shares of PLTR traded up $3.94 during mid-day trading on Friday, reaching $158.80. The stock had a trading volume of 57,707,820 shares, compared to its average volume of 64,807,624. The firm has a market cap of $374.75 billion, a price-to-earnings ratio of 690.43, a PEG ratio of 13.22 and a beta of 2.59. Palantir Technologies has a 12 month low of $21.23 and a 12 month high of $160.39. The business has a fifty day moving average of $137.03 and a 200 day moving average of $108.85.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company's quarterly revenue was up 39.4% compared to the same quarter last year. On average, research analysts forecast that Palantir Technologies will post 0.31 EPS for the current fiscal year.
Insider Transactions at Palantir Technologies
In other news, insider Stephen Andrew Cohen sold 309,696 shares of the company'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 $39,142,477.44. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $74,822.88. This represents a 99.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Company insiders own 9.23% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Mechanics Financial Corp bought a new position in Palantir Technologies during the 1st quarter worth about $25,000. Signature Resources Capital Management LLC bought a new position in Palantir Technologies during the 2nd quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies during the 1st quarter worth about $27,000. 1248 Management LLC bought a new position in Palantir Technologies during the 1st quarter worth about $27,000. Finally, Family Legacy Financial Solutions LLC bought a new position in Palantir Technologies during the 2nd quarter worth about $31,000. 45.65% of the stock is currently owned by institutional investors.
About Palantir Technologies
(
Get Free Report)
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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