Palantir Technologies Inc. (NYSE:PLTR) Receives $18.35 Consensus Price Target from Brokerages

Shares of Palantir Technologies Inc. (NYSE:PLTR) have earned an average recommendation of “Reduce” from the twelve ratings firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.35.

A number of analysts have commented on the stock. Mizuho boosted their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Bank of America boosted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research report on Thursday, March 28th. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Finally, Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th.

Palantir Technologies Stock Up 2.1 %

Palantir Technologies stock opened at $22.96 on Friday. The firm has a 50-day moving average price of $23.24 and a two-hundred day moving average price of $19.35. The firm has a market capitalization of $50.79 billion, a price-to-earnings ratio of 255.08, a PEG ratio of 5.57 and a beta of 2.78. Palantir Technologies has a 52-week low of $7.28 and a 52-week high of $27.50.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Research analysts expect that Palantir Technologies will post 0.16 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the sale, the insider now directly owns 662,006 shares in the company, valued at approximately $17,179,055.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the sale, the director now directly owns 186,783 shares in the company, valued at approximately $4,247,445.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Company insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in PLTR. AlphaCrest Capital Management LLC acquired a new position in Palantir Technologies in the first quarter valued at about $206,000. D.A. Davidson & CO. raised its stake in Palantir Technologies by 18.6% in the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after purchasing an additional 2,286 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Palantir Technologies in the first quarter valued at about $1,475,000. Cibc World Market Inc. raised its stake in Palantir Technologies by 38.3% in the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Palantir Technologies by 71.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after purchasing an additional 482,171 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

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.