Palantir Technologies (NYSE:PLTR) Cut to “Market Perform” at Raymond James

Raymond James cut shares of Palantir Technologies (NYSE:PLTR) from an outperform rating to a market perform rating in a report released on Monday, Marketbeat reports.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a sell rating in a research report on Tuesday, August 6th. Bank of America raised their target price on Palantir Technologies from $30.00 to $50.00 and gave the company a buy rating in a research report on Tuesday, September 10th. Royal Bank of Canada restated an underperform rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Mizuho downgraded Palantir Technologies from a neutral rating to an underperform rating and raised their target price for the company from $21.00 to $22.00 in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a hold rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $26.79.

Palantir Technologies Trading Up 0.6 %

Shares of PLTR opened at $37.12 on Monday. Palantir Technologies has a 12 month low of $13.88 and a 12 month high of $38.19. The stock’s 50 day moving average is $31.10 and its two-hundred day moving average is $26.15. The firm has a market cap of $83.12 billion, a P/E ratio of 309.32 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period in the previous year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. Equities research analysts forecast that Palantir Technologies will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total transaction of $254,021.35. Following the completion of the sale, the director now owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total value of $254,021.35. Following the transaction, the director now directly owns 145,625 shares of the company’s stock, valued at $5,558,506.25. The disclosure for this sale can be found here. Insiders sold a total of 5,389,893 shares of company stock valued at $190,485,693 over the last quarter. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PLTR. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after buying an additional 3,623,840 shares during the last quarter. Marshall Wace LLP lifted its holdings in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after buying an additional 3,038,861 shares during the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter worth about $46,542,000. Finally, Coatue Management LLC lifted its holdings in Palantir Technologies by 285.6% during the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after buying an additional 2,553,432 shares during the last quarter. 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.