Palantir Technologies Inc. (NASDAQ:PLTR) Receives $196.32 Average Price Target from Brokerages

Palantir Technologies Inc. (NASDAQ:PLTRGet Free Report) has received an average recommendation of “Moderate Buy” from the twenty-eight research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $198.5909.

Several equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. HSBC raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, February 3rd. Mizuho upgraded Palantir Technologies from a “neutral” rating to an “outperform” rating and set a $195.00 price target on the stock in a research report on Wednesday, February 18th. William Blair raised Palantir Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group set a $208.00 price objective on Palantir Technologies in a research report on Thursday, January 22nd.

View Our Latest Analysis on Palantir Technologies

Insider Buying and Selling

In other news, insider Alexander C. Karp sold 493,025 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $860,507,475.24. The trade was a 7.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Glazer sold 17,438 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.72, for a total transaction of $2,331,809.36. Following the transaction, the insider owned 392,370 shares of the company’s stock, valued at $52,467,716.40. This represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,045,279 shares of company stock valued at $140,539,043 in the last three months. 9.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $450,000. Bison Wealth LLC boosted its position in Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after acquiring an additional 4,667 shares during the period. Capstone Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,722 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock worth $858,000 after purchasing an additional 1,694 shares in the last quarter. Finally, Summit Global Investments acquired a new position in shares of Palantir Technologies during the second quarter valued at $247,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies News Roundup

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Price Performance

PLTR stock opened at $143.06 on Wednesday. The firm has a market cap of $342.15 billion, a price-to-earnings ratio of 227.08, a PEG ratio of 2.92 and a beta of 1.70. Palantir Technologies has a 1-year low of $66.12 and a 1-year high of $207.52. The firm has a fifty day moving average price of $148.06 and a two-hundred day moving average price of $168.49.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last posted its quarterly earnings results on Monday, February 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 70.0% on a year-over-year basis. As a group, analysts expect that Palantir Technologies will post 0.31 EPS for the current fiscal year.

About Palantir Technologies

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

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Analyst Recommendations for Palantir Technologies (NASDAQ:PLTR)

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