Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.7% - Should You Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) rose 2.7% during mid-day trading on Monday . The company traded as high as $141.93 and last traded at $140.97. Approximately 21,608,157 shares traded hands during trading, a decline of 73% from the average daily volume of 81,005,080 shares. The stock had previously closed at $137.30.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reissued an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Morgan Stanley upped their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Citigroup upped their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Wedbush set a $140.00 target price on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $89.32.

Palantir Technologies Trading Up 1.7%

The company has a market capitalization of $329.62 billion, a price-to-earnings ratio of 605.97, a PEG ratio of 11.72 and a beta of 2.64. The company has a fifty day moving average of $120.65 and a 200-day moving average of $97.46.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million for the quarter, compared to analysts' expectations of $863.89 million. During the same period in the previous year, the firm posted $0.08 EPS. Palantir Technologies's revenue was up 39.4% compared to the same quarter last year. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. The trade was a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 over the last quarter. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies in the first quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $27,000. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $33,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

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.

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