Free Trial

Palantir Technologies (NASDAQ:PLTR) Earns Overweight Rating from Analysts at Piper Sandler

Palantir Technologies logo with Computer and Technology background

Key Points

  • Research analysts at Piper Sandler initiated coverage on Palantir Technologies, assigning an "overweight" rating with a price target of $170.00, indicating a potential upside of 9.78% from the previous close.
  • Palantir Technologies reported quarterly revenues of $883.86 million, exceeding analyst estimates and reflecting a 39.4% year-over-year increase in revenue.
  • Current stock ratings indicate mixed opinions, with four analysts rating it as a sell, fifteen as hold, and five as buy, resulting in an average rating of "Hold" with a consensus price target of $95.30.
  • Five stocks to consider instead of Palantir Technologies.
  • Limited Time Offer: Unlock powerful research tools, advanced financial data, and expert insights to help you invest with confidence. Save 50% when you upgrade to MarketBeat All Access during the month of July. Claim your discount here.

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.

Featured Articles

Analyst Recommendations for Palantir Technologies (NASDAQ:PLTR)

Should You Invest $1,000 in Palantir Technologies Right Now?

Before you consider Palantir Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palantir Technologies wasn't on the list.

While Palantir Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Options Trading Made Easy - Download Now Cover

Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Palantir at All-Time Highs: Take Profits or Hold the Line?
Top 3 Defense Stocks to Profit From $175 Billion Golden Dome
Palantir’s Big Moves: Profit-Taking, Price Targets & AI Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines