Palantir Technologies (NASDAQ:PLTR) Now Covered by Fubon

Fubon initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a report released on Tuesday morning,FinViz reports. The brokerage issued a buy rating and a $200.00 price target on the stock.

Other analysts have also recently issued reports about the company. Wolfe Research started coverage on Palantir Technologies in a research report on Tuesday, August 4th. They issued a “buy” rating for the company. UBS Group reiterated a “buy” rating on shares of Palantir Technologies in a research note on Tuesday, November 3rd. Needham & Company LLC set a $215.00 target price on Palantir Technologies in a report on Tuesday, August 11th. Weiss Ratings raised shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $235.00 price objective on shares of Palantir Technologies in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Moderate Buy” and an average price target of $216.20.

Palantir Technologies Stock Down 2.1%

Shares of PLTR stock traded down $3.59 on Tuesday, reaching $167.99. The stock had a trading volume of 15,160,139 shares, compared to its average volume of 40,742,707. The firm’s 50-day moving average is $185.08 and its two-hundred day moving average is $153.81. The firm has a market capitalization of $403.69 billion, a price-to-earnings ratio of 117.48, a P/E/G ratio of 3.48 and a beta of 1.65. Palantir Technologies has a 12 month low of $106.37 and a 12 month high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.18 billion. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. Palantir Technologies’s revenue was up 95.9% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. On average, sell-side analysts forecast that Palantir Technologies will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,055 shares of Palantir Technologies stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.83, for a total transaction of $359,275.65. Following the completion of the sale, the insider owned 58,171 shares of the company’s stock, valued at approximately $10,170,035.93. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eric H. Woersching sold 1,000 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $205.00, for a total transaction of $205,000.00. Following the completion of the sale, the director directly owned 3,465 shares of the company’s stock, valued at approximately $710,325. The trade was a 22.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 523,716 shares of company stock worth $92,212,379. 9.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Guardian Wealth Advisors LLC NC increased its stake in Palantir Technologies by 67.5% during the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 10,627 shares of the company’s stock worth $1,240,000 after acquiring an additional 4,283 shares during the period. Blueprint Investment Partners LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at $2,901,000. Counterpoint Mutual Funds LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at $1,255,000. Independent Financial Group LLC raised its holdings in Palantir Technologies by 20.8% in the 2nd quarter. Independent Financial Group LLC now owns 188,200 shares of the company’s stock valued at $21,957,000 after acquiring an additional 32,427 shares in the last quarter. Finally, World Equity Group Inc. lifted its position in shares of Palantir Technologies by 7.2% during the 2nd quarter. World Equity Group Inc. now owns 43,627 shares of the company’s stock valued at $5,090,000 after acquiring an additional 2,948 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

More Palantir Technologies News

These are some of the PLTR news items that stood out recently:

• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: Investors are also focused on deceleration in contract-related growth indicators versus the previous quarter, which may raise questions about future demand. A planned sale of 84,680 shares by CTO Shyam Sankar—and another recent planned sale filing—could add to negative sentiment, though insider sales do not necessarily signal a lack of confidence. Article: Why Palantir Technologies Stock Is Down
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.