Palantir Technologies (NYSE:PLTR) Stock Rating Upgraded by Monness Crespi & Hardt

Palantir Technologies (NYSE:PLTR) was upgraded by stock analysts at Monness Crespi & Hardt from a “sell” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports.

Other equities research analysts also recently issued reports about the stock. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research note on Wednesday, February 14th. Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Bank of America upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

NYSE:PLTR opened at $22.08 on Friday. The firm has a market capitalization of $48.86 billion, a price-to-earnings ratio of 241.25, a PEG ratio of 5.29 and a beta of 2.78. The company’s 50-day moving average is $23.49 and its two-hundred day moving average is $20.01. Palantir Technologies has a 1-year low of $7.28 and a 1-year 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 for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $603.48 million. As a group, equities analysts anticipate that Palantir Technologies will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock worth $184,343,202 in the last 90 days. 13.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently modified their holdings of the stock. Truvestments Capital LLC boosted its position in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares during the last quarter. First United Bank & Trust acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $26,000. Pacifica Partners Inc. acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. lifted its position in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.