Palantir Technologies Inc. (NYSE:PLTR) Receives $27.29 Average Target Price from Analysts

Shares of Palantir Technologies Inc. (NYSE:PLTR) have earned an average rating of “Reduce” from the sixteen analysts that are covering the stock, Marketbeat reports. Five 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. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $27.86.

Several equities analysts have recently weighed in on the company. Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Bank of America lifted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Wedbush lifted their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,747,176 shares of company stock worth $646,951,347. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLTR. Heritage Wealth Management Inc. CA acquired a new stake in Palantir Technologies during the third quarter worth about $1,076,000. Allspring Global Investments Holdings LLC raised its position in shares of Palantir Technologies by 227.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock worth $4,546,000 after purchasing an additional 84,856 shares during the period. Cyndeo Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter worth approximately $6,339,000. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in Palantir Technologies by 1,028.9% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 115,425 shares of the company’s stock valued at $4,294,000 after purchasing an additional 105,200 shares during the period. Finally, DMC Group LLC bought a new position in Palantir Technologies during the 3rd quarter worth $956,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $42.97 on Wednesday. The firm has a market capitalization of $96.23 billion, a price-to-earnings ratio of 252.78 and a beta of 2.72. Palantir Technologies has a one year low of $14.48 and a one year high of $44.39. The company has a 50 day moving average price of $35.60 and a 200 day moving average price of $28.13.

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

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.