Palantir Technologies Inc. (NYSE:PLTR) Receives $21.96 Consensus PT from Brokerages

Palantir Technologies Inc. (NYSE:PLTR) has been given an average recommendation of “Reduce” by the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $22.54.

A number of research firms have commented on PLTR. HSBC lifted their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Wedbush restated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a report on Friday, August 2nd. Citigroup increased their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Monness Crespi & Hardt reduced their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th.

Palantir Technologies Stock Up 10.4 %

PLTR opened at $26.59 on Friday. Palantir Technologies has a 52-week low of $13.68 and a 52-week high of $29.83. The company has a market cap of $59.21 billion, a price-to-earnings ratio of 221.58, a PEG ratio of 6.02 and a beta of 2.71. The firm’s fifty day simple moving average is $25.54 and its two-hundred day simple moving average is $23.45.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period last year, the company posted $0.01 EPS. The business’s revenue was up 27.2% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies will post 0.16 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the transaction, the director now owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the transaction, the director now directly owns 15,733,625 shares of the company’s stock, valued at approximately $326,944,727.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric H. Woersching sold 26,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $23.32, for a total value of $606,320.00. Following the completion of the transaction, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The disclosure for this sale can be found here. Insiders have sold a total of 5,164,396 shares of company stock valued at $108,289,707 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its position in Palantir Technologies by 77.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,603 shares of the company’s stock valued at $337,000 after acquiring an additional 8,539 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Palantir Technologies by 46.9% in the 4th quarter. Global Retirement Partners LLC now owns 9,341 shares of the company’s stock valued at $154,000 after purchasing an additional 2,982 shares during the period. Leavell Investment Management Inc. grew its stake in Palantir Technologies by 5.9% during the 4th quarter. Leavell Investment Management Inc. now owns 35,644 shares of the company’s stock worth $612,000 after buying an additional 2,000 shares during the last quarter. Arizona State Retirement System increased its position in Palantir Technologies by 2.6% during the fourth quarter. Arizona State Retirement System now owns 507,252 shares of the company’s stock worth $8,710,000 after buying an additional 12,798 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Palantir Technologies by 1,784.0% in the fourth quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock valued at $49,720,000 after buying an additional 2,742,071 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.