Palantir Technologies Inc. (NYSE:PLTR) Receives $31.71 Average Target Price from Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have earned an average recommendation of “Reduce” from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $31.71.

PLTR has been the subject of several analyst reports. DA Davidson raised their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Monness Crespi & Hardt cut their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Mizuho raised their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the transaction, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 11,373 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total value of $366,779.25. Following the transaction, the insider now directly owns 600,633 shares in the company, valued at approximately $19,370,414.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,399,238 shares of company stock valued at $1,041,851,557 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Pekin Hardy Strauss Inc. acquired a new position in shares of Palantir Technologies during the third quarter valued at about $272,000. Centaurus Financial Inc. increased its stake in Palantir Technologies by 38.8% during the 3rd quarter. Centaurus Financial Inc. now owns 23,538 shares of the company’s stock valued at $876,000 after purchasing an additional 6,580 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Palantir Technologies by 70.3% in the third quarter. Larson Financial Group LLC now owns 10,756 shares of the company’s stock worth $400,000 after buying an additional 4,441 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Palantir Technologies by 24.8% during the third quarter. Penserra Capital Management LLC now owns 53,106 shares of the company’s stock worth $1,975,000 after buying an additional 10,567 shares during the period. Finally, One Charles Private Wealth Services LLC purchased a new stake in shares of Palantir Technologies during the third quarter valued at $221,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $59.87 on Friday. The stock has a market capitalization of $134.08 billion, a P/E ratio of 297.26 and a beta of 2.70. Palantir Technologies has a 1-year low of $15.66 and a 1-year high of $62.08. The business’s 50 day moving average is $40.71 and its two-hundred day moving average is $30.98.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, equities research analysts anticipate that Palantir Technologies will post 0.2 earnings per share for the current fiscal year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. 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.