Palantir Technologies (NYSE:PLTR) PT Raised to $9.00

Palantir Technologies (NYSE:PLTR) had its price objective boosted by Royal Bank of Canada from $5.00 to $9.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential downside of 58.00% from the stock’s current price.

Other research analysts have also issued research reports about the stock. DA Davidson increased their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday. Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a report on Monday. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Wednesday, February 14th. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.19.

Palantir Technologies Price Performance

Shares of NYSE PLTR traded down $3.78 during mid-day trading on Tuesday, hitting $21.43. The company had a trading volume of 107,977,608 shares, compared to its average volume of 62,934,184. The business’s 50-day simple moving average is $23.36 and its 200-day simple moving average is $20.25. Palantir Technologies has a 12 month low of $7.59 and a 12 month high of $27.50. The firm has a market cap of $47.42 billion, a P/E ratio of 238.58, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, sell-side analysts predict that Palantir Technologies will post 0.16 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Thiel sold 7,044,756 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The disclosure for this sale can be found here. Insiders have sold 7,356,273 shares of company stock worth $182,143,602 in the last ninety days. Company insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. West Paces Advisors Inc. boosted its position in Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Palantir Technologies by 105.3% in the 1st 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 during the last quarter. Bogart Wealth LLC boosted its holdings in shares of Palantir Technologies by 332.8% during the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after acquiring an additional 1,065 shares during the period. Halpern Financial Inc. grew its stake in shares of Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares in the last quarter. Finally, Pacifica Partners Inc. acquired a new position in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.