Palantir Technologies Inc. (NYSE:PLTR) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have received a consensus rating of “Reduce” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $35.64.

Several equities analysts have recently issued reports on the stock. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Wedbush lifted their target price on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. This represents a 3.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,423,181 shares of company stock valued at $1,972,588,658 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the 2nd quarter worth $30,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $69.85 on Thursday. The stock’s 50 day simple moving average is $50.77 and its two-hundred day simple moving average is $35.95. The stock has a market cap of $159.12 billion, a price-to-earnings ratio of 349.27, a PEG ratio of 8.98 and a beta of 2.87. Palantir Technologies has a fifty-two week low of $15.66 and a fifty-two week high of $71.37.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 EPS. On average, analysts predict that Palantir Technologies will post 0.21 earnings per share for the current year.

Palantir Technologies Company Profile

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.