Palantir Technologies - PLTR Stock Forecast, Price & News

Palantir Technologies Inc. builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. The company provides palantir gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform. It also offers palantir foundry, a platform that transforms the ways organizations operate by creating a central operating system for their data; and allows individual users to integrate and analyze the data they need in one place. In addition, it provides apollo, a software that enables customers to deploy their own software virtually in any environment. Palantir Technologies Inc. was incorporated in 2003 and is based in Denver, Colorado.

Analysts Set New Price Targets

Several equities analysts have weighed in on PLTR shares. The Goldman Sachs Group assumed coverage on shares of Palantir Technologies in a report on Thursday, June 23rd. They issued a "neutral" rating and a $10.00 target price on the stock. Citigroup cut their target price on Palantir Technologies from $7.00 to $6.00 and set a "sell" rating for the company in a research note on Tuesday. Monness Crespi & Hardt lowered Palantir Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft downgraded Palantir Technologies from a "hold" rating to a "sell" rating and cut their price objective for the stock from $11.00 to $8.00 in a research report on Tuesday. Finally, Bank of America began coverage on shares of Palantir Technologies in a research report on Tuesday, June 21st. They issued a "buy" rating and a $13.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.00.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock traded up $0.34 during trading on Wednesday, hitting $9.59. 45,816,058 shares of the stock were exchanged, compared to its average volume of 46,762,957. The firm's 50-day moving average price is $9.42 and its 200 day moving average price is $10.80. The stock has a market cap of $19.63 billion, a price-to-earnings ratio of -37.00 and a beta of 3.80. Palantir Technologies has a 12-month low of $6.44 and a 12-month high of $29.29.

Palantir Technologies (NYSE:PLTR - Get Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.04). Palantir Technologies had a positive return on equity of 12.04% and a negative net margin of 30.25%. The business had revenue of $473.00 million for the quarter, compared to analysts' expectations of $471.72 million. During the same period last year, the firm earned $0.04 earnings per share. The firm's quarterly revenue was up 25.9% on a year-over-year basis. As a group, research analysts forecast that Palantir Technologies will post -0.08 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 48,656 shares of the business's stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $8.09, for a total transaction of $393,627.04. Following the completion of the sale, the insider now owns 720,370 shares in the company, valued at approximately $5,827,793.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 48,656 shares of the firm's stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $8.09, for a total transaction of $393,627.04. Following the transaction, the insider now owns 720,370 shares of the company's stock, valued at $5,827,793.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Glazer sold 105,553 shares of the business's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $11.02, for a total value of $1,163,194.06. Following the completion of the sale, the insider now directly owns 1,911,484 shares of the company's stock, valued at $21,064,553.68. The disclosure for this sale can be found here. Insiders sold 427,935 shares of company stock valued at $4,209,427 over the last three months. 13.22% of the stock is owned by corporate insiders.